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Knowledge Kick

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  1. Banks allow you to count depreciation back in to the income but thats about it - Using the numbers provided you would be looking at her income of $25k Plus the average of the two years 1099 income so $35k and $55k divided by 2 For you it would be 45k plus her 25k total 70k It sounds like you have left the w2 employer? If thats the case that income will not be used when calculating the income If you file you'll go with the average of the 12-13 taxes there is a quirk to the guidelines - if you show less income in 2013 than the 55k you made in 2012 - they will use the income rep
  2. Hi all and thank you in advance for your help. My girlfriend and I are in the middle of trying to get approved for our first mortgage. So far, I was told to send in our tax returns from the previous two years, because they'd likely take the average of the most recent two years to determine the level of income. In my girlfriend's case, her income is pretty consistent and about the same for 2011, 2012 and 2013. In my case, I have my taxes basically finished, but I didn't officially file with the IRS yet because of the mortgage process. I'm trying to get some information and advice before
  3. I need some help on a few different things. Specifically I am looking for recommendations on specific cards to apply for and which "backdoor" numbers I should call, if things don't go my way initially. I will supply as much info as possible, so I can get some good answers and act right away. I have been trying to fix my credit forever. I wrote countless letters for years and was semi-successful. I got some stuff removed and resolved to let some stuff fall off naturally. Should be gone in the next year or so. I would REALLY appreciate it if a few of you guys would lay a step by ste
  4. $1,000 and some change. Again, not life altering...but I don't want to pay it if I don't have to...at all.
  5. I'll challenge the thing officially with HR, because even if it doesn't help...it at least doesn't hurt. As far as the amount goes, it's in between $500 and $10,000. Definitely not something I just want to give up though. Any additional insight?
  6. Hi All, I received a notice of overpayment from my previous employer. The employer is actually an extremely large bank, so collecting on debts is something they due already. I am listing this in case it's relevant at all. The letter states that I was overpaid (upon leaving) as a result of "overpaid regular hours" and "overpaid vacation time that was unaccrued". They then request that I remit payment by a certain date, in about 2 weeks. The problem with this is, I sincerely do not believe I was overpaid. In fact, prior to leaving, I saved certain emails related to this exactly.
  7. I really need to establish credit in the name of my business. Please tell if I can be approved for anything at this point, or what my chances are. I started an LLC in 2009. This was in college, and part time, so the business never had any significant revenue. However, I recently scaled everything up, full time, and have been successful. I'm now at the point where the business is at $10,000-$15,000 per month in revenue. The history of this increased revenue is only a few months old right now, so it's not reflected on any tax returns yet. Now that my expenses per month are in the thous
  8. So instead of waiting for them to take these amounts out of my state tax returns, should I just negotiate a reduced payment with the collection agencies? Will they settle for a less than full amount? I rather pay $800 of the $1,500 and have it be done with then getting $1,500 taken out of my state tax return without notice.
  9. One school is a local, country college. The other is a small, public university. The Pell Grant was awarded to me at the county college but then rescinded later because I maximized the grant at my University. So, I don't owe money to the government, but I do owe money to the college. It is now an outstanding tuition payment because of the Pell grant being taken back. I know they obviously want the money, because I was contacted by a debt collector asking for it. I just want to know what they can do to me, aside from withholding my transcripts and not letting me register for classes
  10. That's what I assumed too. However, I have received letters from collection agencies for both of these schools. I know that I never need transcripts from either school and will never attend either in the future. My only concern is my credit report. Will my credit be affected? Can they take the money from my state tax return for the debts owed?
  11. Can debts owed to a school for tuition show up on your credit report? I'm not talking about student loans through the school or through a bank or the government. What happened was...back in 2005 I received a scholarship from a school. I went there for a brief stint before withdrawing from classes. Upon withdrawing, I lost my scholarship and the classes that were covered by the scholarship were no longer paid for and became a balance owed to the school. My question is, does this balance have a chance of affecting my credit in the future if I do not pay it? I have been in college (at an
  12. Then they're not accurate. But when I tell them about the inaccuracies, they just fix them and don't remove anything lol
  13. Are they worth trying even though the negative tradelines are valid and accurate?
  14. They're accurate. Sometimes a date is off or something, but they're accurate. I just want them gone. If they won't even take my money to remove them then I doubt anything will work.
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