What’s involved in borrowing to pay tax debt?

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.

  1. Firstly, secured short term loans such as caveat loans and second mortgages.
  2. Long term loans similar to traditional finance.
  3. Unsecured Finance options, however, these can be very restrictive and unsuitable.

Caveat Loans

  • 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.