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Insolvency and How it Relates to my Settled Debt

How do you know if you qualify for insolvency? According to the IRS, a taxpayer is insolvent when your total liabilities exceed your total assets. What does this mean for someone who has already settled their debts? The forgiven debt may be excluded as income under the “insolvency” exclusion. Normally, a taxpayer is not required to include forgiven debts in income to the extent that the taxpayer is […]

2018-05-29T15:18:30+00:00 May 22nd, 2018|Tags: , |

How to Take the First Step Toward Debt Settlement

Admitting that you need help can be hard for some people and it can be even harder to ask for help when you’re in debt. How can you achieve financial stability? How could you possibly reclaim your life on your own? Are there debt relief options that are right for me? How do I know I can trust another company to get me out of debt? The questions are endless, but they shouldn’t have to […]

2018-05-12T22:09:10+00:00 March 6th, 2018|Tags: , , |

What is DTI, and why is it important?

If you are seeking a mortgage loan or major financing, you may have heard the term DTI used. This is your Debt-to-Income ratio and it can affect your eligibility for loans. The ratio is determined by dividing your total monthly debt payments by your total monthly income after taxes and deductions. Lenders prefer your DTI to be around 43-47% max. This tells lenders you are not that great of a risk for defaulting on the […]

2018-02-26T16:59:13+00:00 February 27th, 2018|

How Your Tax Refund Can Jumpstart Your Financial Recovery

Each year, as taxpayers, we receive a portion of what we are owed from federal and state tax refunds. This refund can help those in financial hardships recover quickly, as most refunds are deposited 21 days after you file your claim to the IRS. This refund can also serve as a bonus to repay yourself if you are ready to take a vacation or want to make a special purchase for yourself.

Your refund can be […]

2018-01-30T13:14:01+00:00 January 30th, 2018|Tags: , |

What Happens After Bankruptcy?

Why you filed bankruptcy is your business. What happens after filing bankruptcy and your evaluation of what lead you to do so that can help your future financial goals.

Choosing to file bankruptcy is a personal decision.

  • Unexpected or sudden job loss?
  • Overwhelming medical expenses?
  • Unmanageable or out of control debt?

Again, your reasons are unique to you.

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2018-05-12T22:09:10+00:00 January 23rd, 2018|Tags: , |

Am I qualified for Debt Settlement?

When you are faced with a financial nightmare and aren’t sure what options you have, our credit advisors can help you determine your best option. This solution might be credit counseling, debt settlement, or applying for reduced monthly payments and lower interest rates with your creditors. The preferred method of eliminating debt is often debt settlement, but you must be eligible for this program. That leads us to the question, “Am I qualified for debt […]

2018-01-16T14:03:39+00:00 January 16th, 2018|

How to Stay Debt-Free with a Slight Shift in Perspective

The word “debt” sounds as heavy as it feels. And it doesn’t matter if you’re under a mountain or a small mound of it.

Eliminating debt is one thing. Staying out of debt is another.

Each can have a lot to do with your perspective or your mindset about it.

Financial writer, Holly Johnson reminds that getting free from debt isn’t that you’re “…smarter or better than people who just can’t seem to get out of debt; very […]

2018-05-12T22:09:10+00:00 January 9th, 2018|Tags: |

Using Credit Cards To Improve Your Credit Score

We all know that credit cards impact your credit score. But there are so many unknowns when it comes to how to use them to your advantage. Opening a line of credit is one of the easiest ways to begin establishing a credit history. But, applicant beware as there are some things to consider first.

 

How many credit cards is the right amount? A healthy number of credit lines (including credit cards) is anywhere from 11 […]

2018-05-12T22:09:10+00:00 January 4th, 2018|Tags: , |
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A Debt Relief Company You Can Trust!

With over 30 years of combined experience, a Better Business Bureau A+ rating, and a zero complaint history, you can feel confident that PCS Debt Relief will be a debt relief company you can trust. We are headquartered in St. Louis, MIssouri and offer our debt relief services nationwide.