Can I obtain a bank loan to pay tax debt?April 23, 2020
What business tax debt loan options do I have?April 23, 2020
Borrowing to pay a tax debt is very much the same as traditional lending. However, there are some differences in policies because of the higher risk in loans for tax debt. As a result, the three main loan types suitable to pay for tax debt.
- Firstly, secured short term loans such as caveat loans and second mortgages.
- Long term loans similar to traditional finance.
- Unsecured Finance options, however, these can be very restrictive and unsuitable.
- Requires Minimal income verification
- Lower Loan Ratios
- Higher fees
- 24 hour – 2-week settlements.
Specialist tax debt home loans
- Income verification and servicing requirements
- However, there are low doc loan options available.
- Also, credit issues are acceptable and reflect the pricing.
Loan Saver Network can assess the type of loans most suitable for your purpose.