All About Debts

Debt Help The $350 billion Bush tax cut enacted last May was bad policy in many ways, and one of them was its gratuitous encouragement of greater energy wastefulness by a country that already was the world's foremost squanderer of energy.

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Counseling Debt As part of a section aimed at stimulating investment in new equipment by small businesses, the legislation increased the writeoff for truck purchases from $25,000 to $100,000. But the government's definitions are broad. "Small business" covers a wide range of professions, including doctors, lawyers, real-estate agents and others who have no need for heavy trucks or vans in the pursuit of their livelihood but who are entitled to the new tax break when they buy gas-guzzling Hummers, Ford Excursions and other giant vehicles that the government lumps together under the definition of "truck," i.e. a vehicle weighing 6,000 pounds or more. By contrast, the tax deduction for a car used for business full-time and weighing less than 6,000 pounds is a much smaller $7,600. Undoubtedly, many of the 24 million people in the small-business category who wouldn't otherwise buy a behemoth are finding that $100,000 tax break - which has been featured in dealers' advertising - irresistible.

How does consolidating debt actually work Consolidation debt can help a person lower the amount of debt and pay his unsecured credit debt faster. He can take care of his debts by merging all his payments into a single loan at a lower rate of interest that what he was actually paying. If your debt is credit card debt then consolidating debt is probably the best option. A person who does not undertakes debt consolidation

Consolidation Consumer Debt A small glimmer of sanity has been sighted in Washington, however. The Senate Finance Committee last week approved a bill to trim the deduction for the big vehicles back to the $25,000 that existed prior to the new tax law. (The committee kept the $100,000 writeoff for certain legitimate business-use heavy vehicles, such as refrigerated trucks.) It could and should have gone further and closed what Sen. Barbara Boxer, D-Calif., calls the "SUV tax loophole" by making the business purchase of any sport utility vehicle eligible for the same tax break as for small cars. But the senators' action was at least a small acknowledgment of a huge mistake by some of the lawmakers who are responsible for that mistake. We hope the full Senate and the House of Representatives show an equal willingness to legislate in the national interest.

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Debt Settlement Trenton Times - 10/13/2003

Topic: Petroleum Industry

It has been estimated that Brits, who are experiencing problems with debts, have unsecured debts of £25billion pounds. Debt management company TDX Group estimates that one million people are struggling to cope with an average of 25, worth of unsecured debts out of a total UK consumer debt mountain of 1.4 trillion pounds. That could see the number of people taking out individual voluntary arrangements (IVAs) - an alternative to bankruptcy, - double this year.

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