Accredited Debt Relief #debt #consolidation #loans #mn, #accredited #debt #relief



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Standard credit card payment per month $750 Our monthly program payment estimate $296 Monthly savings! $454

Our calculators, estimators and eligibility tools are strictly to help consumers understand potential options, estimate potential payments/savings and do not provide any guarantee of enrollment, qualification, or payment amount for ANY programs or savings. To learn more, contact one of our representatives.

“I just wanted to forward this to you and say thank you so much for all your help. Amazingly enough I already received a settlement agreement on one of my accounts. So fast. I am looking forward to the rest and know that this pogram is going to help me in the future to get where I need to be.”

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* does not provide debt relief services. matches consumers with debt relief companies in our network. By submitting your information you agree to be contacted by our partner debt relief providers via phone, text messaging and / or email. Each partner will provide a proposal for debt negotiation services & may charge a fee for their service. Call us directly for more details and to see exactly what you would qualify for. Results vary based on ability to save funds, complete all program terms & willingness of creditors to renegotiate. Licensed and bonded in IA, ID, IN, MD, MN, MO, MT and TX. Additional information for Maryland residents.

Accredited Debt Relief does not broker loans and does not make and/or fund any product offerings, loans, or credit decisions. This web site and the content within do not constitute an offer or solicitation to lend. This web site will securely submit the information you provide to a lender. Providing your information on this web site does not guarantee approval for a product offering. We only refer consumers for loans in the following states: AK, AL, AZ, CA, DC, FL, IN, MD, MI, MO, NC, NE, NM, NY, OH, OK, SD, VA

Debt settlement is a negotiation process and therefore it is not possible to predict exact savings. Anyone considering bankruptcy should contact a bankruptcy attorney. Clients who make all their monthly program payments pay approximately 50% of their enrolled balance before fees, 68% to 75% including fees, over 24 to 48 months. Not all clients complete their program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss tax consequences of settlement. Read and understand all program materials prior to enrollment, including potential adverse impact of credit rating. The use of debt settlement services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated settlements obtained on your behalf resolve the entire account, including all accrued fees and interest.

The trademarks included on this page are property of their respective owners, who have offered no endorsement of this service.

Business Debt Consolidation Loan Programs #business #debt #consolidation, #business #debt #consolidation #loan


Business Debt Consolidation

Looking for a business debt consolidation loan or service to help with the cash crunch?

As a business person, you need to have a unique focus in order to be successful. Many people think that they have what it takes to run a business, but then they get involved in one and realize that it’s not nearly as easy as it looks.

One of the most significant challenges that a business person can face is handling debt in a way that doesn’t cost them big money. With your eye on the bottom line, you have to be able to run things so that you save money and come out ahead – even in tough times.

For those with business credit card debt, loan debt or both, debt consolidation services can be a solid option for reducing the monthly financial burden.

But what if you’re credit isn’t great? Are there any programs out there for you? This guide shows you what your options are no matter what you credit situation is right now.

Securing Business Debt Consolidation that Makes Sense

If interest rates and payments have gotten to be too much of a strain on your business, then it’s time to start looking for ways to consolidate your payments and reduce your costs.

You need to find something that will make your monthly payment more affordable. This is where business debt consolidation comes in handy. But finding a good company with reasonable loan terms can be problematic.

That’s where we come in.

We’ve compiled a list of the top 3 loan firms for businesses looking to consolidate. We also list another company that helps people or companies that don’t qualify for typical consolidation loans because of their credit.

They offer loans to small businesses and have a straightforward process for applying. Here are some of the features:

  • APR of 10-28% for all term loans
  • Offers 22% APR for line of credit
  • It takes about 10 days to get your loan
  • Loan term varies from 6 months to 4 Years
  • Amount offered from $50,000 to $500,000 (term loans)
  • Up to $500,000 for a line of credit

It takes 10 minutes to sign up. What small business loan can be requested for in 10 minutes? Not many.

This is incredibly helpful for any firm that needs funds quickly.

It takes ten days for them to vet the application, but in general, they take far less than this to let you know whether you qualify.

Variety of Plans

You are not pigeon-holed when it comes to the loan. You can customize it based on your firm’s individual needs and circumstances.

This can save time, money and is very beneficial.

Vendor Payments Only Go Through Dealstruck

If you need a line of credit to purchase inventory, there is one important fact you need to know. Dealstruck pays your vendor directly for the inventory instead of giving you the money. Some people might consider this one of the cons to doing business with them when you get a line of credit for inventory.

You may consider this a drawback because you might not want your vendor to know that you borrowed money for the inventory. It is a small con, but one you should be aware of when getting business debt consolidation through them.

This is one lender which does an excellent job of helping small business owners. When it comes to lenders, you want to consider Dealstruck immediately.

The pros outweigh any con that is present. It is a no-brainer. has been around since 2011 and has helped thousands of small business owners. This is a lender with years of experience for an internet company and a good understanding of what clients desire.

Let’s take a look at how good this option is for any company requiring a loan.

  • 8% to 30% APR (Cost of Funding)
  • Offers Term Loans
  • Offers Loans from $20,000 to $500,000
  • Term Can Be Between 1-4 Years in Length
  • Approval Can Take 1 Day
  • Designed For Small Business Owners
  • Requires Two Years in Business and $100,000 (Established Revenue)

Refinancing Is Simple

Let’s say you want funds down the road. Can you refinance? Yes, after nine months you can go through the same process again.

It is just as easy the second time. In fact, it is faster as you have already showcased being a reliable client.

Customer relationship managers are top notch.

They assign customer relationship managers to each applicant. This saves time, and you have a direct connection to the lender. This is remarkable for those who want continuity.

Some of the requirements might push away smaller businesses.

For those who are newly entering the world of business, Fundation might not be a sufficient solution. They have an established minimum set of requirements which include a necessary $100,000 revenue request.

This can push the smaller businesses towards other options, especially if you’re new and need credit card debt consolidation .

For those who qualify, it is a good option without a doubt.

Fundation is a fantastic option, to say the least. Small business debt consolidation loans are hard to acquire and this is as easy as it gets.

Compared to traditional lending institutions, companies like Fundation are much easier to work with. The whole process is much faster and streamlined because it’s all done online and there’s no need to make so many phone calls or have a bunch of face-to-face meetings with a lender.

This firm might have better interest rates than the other 2 listed above, but you need great credit to qualify. The reason is because they are backed up by a government agency – the Small Business Administration.

However, if you know that your credit rating is really good, then you should definitely try this service. One of the great features of their loans besides being backed by the SBA is that the length of the loan can be up to 10 full years. This gives your business a good amount of time to pay the money back if you feel like you need that long.

But again, it can be hard getting approved for their SBA backed loans.

Consolidating Business Debt without a Loan

The 3 business debt consolidation companies listed above are firms you can use when you are looking for a loan. But your business may need to consolidate debt without a loan.

You may have the type of credit that doesn’t allow you to qualify for any loan that requires a stellar credit rating. What are your options then?

How can you get the help you need to deal with your business debt? How will you keep your company afloat without putting yourself in an even bigger financial bind? How can you increase your cash flow again?

This is one of the toughest circumstances for a business owner to deal with. And there are no easy answers. But there is one company that says they can help. Curadebt claims they can help businesses deal with their debt even if they have poor credit.

They are worth a try if you can’t get help anywhere else. They don’t offer loans. Instead, you’ll be put into a monthly program designed to help you manage your finances better.

That wraps up our guide to dealing with business debt. Check back soon, as we will be updating this guide frequently with more companies and solutions.

No Credit Check: No Credit Check #personal #loans, #car #loans, #boat #loans, #truck #loans, #home


Balloon Payment:
A large loan repayment made in order to clear a debt. Usually applied to a short-term fixed-rate loan, which involves small payments for a certain period of time with one large payment for the remaining amount of the principal at a time specified in

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Don’t rush to refinance your federal student loans #advisor #insight, #special #reports, #advisor #insight, #student


Don t rush to refinance your federal student loans

For an overwhelming number of young professionals, the topic of student debt is a sensitive one. With some federal loan rates as high as 7.9 percent, it does not take much to entice my fellow millennials, especially the older ones, into an emotional discourse on the subject.

In fact, student loans are such a hot topic right now that they are a frequent, if not focal, point of discussion in the 2016 presidential primary debates .

Tom Williams | CQ Roll Call | Getty Images

Interns from around the city protest near the Senate steps to urge the Senate to act on a House passed bill, Smarter Solutions for Students Act, which would prevent student loan interest rates from doubling.

Politicians aren’t the only ones listening, either. Due to the notoriety and overwhelming amount of outstanding student debt, financial technology start-ups looking to address the issue have emerged. A number of existing large financial institutions have also been joining the conversation, with “attractive” refinancing opportunities, which could give student loan borrowers a much needed financial break.

When it comes to privately refinancing federal student loans (e.g. any lending organization other than the government), the overarching strategy is to obtain an interest rate that is lower than the rate of your current loan(s).

As a result, refinancing at a lower rate is often a financially positive one because reducing the rate on your federal student loans could:

  1. Reduce the amount of interest you pay over the life of your loan(s).
  2. Reduce your monthly loan payments.
  3. Be a combination of the two, depending on the details of the loan.

Before we get overly excited and say that privately refinancing your federal student loans is a “no-brainer,” it’s extremely important to understand what you are keeping and losing should you choose to stick with those government loans or privately refinance them.

The biggest advantage to keeping your student loans with the federal government is repayment-plan flexibility. Federal loans offer their borrowers a myriad of repayment plans to choose from and the ability to switch between plans at any time.

The main categories of plans are standard, graduated, extended and income-driven plans. Each plan has its own advantages and disadvantages, depending on what your financial needs are.

“The ability to adjust your repayment plan could be a reason for keeping your loans with the federal government, even if it is at a higher interest rate than what you could get privately.”

For example, if you find yourself in a difficult financial situation or should your financial priorities shift due to a significant life event, having the flexibility to move from one payment plan to another could be valuable.

Therefore, the ability to adjust your repayment plan could be a reason for keeping your loans with the federal government, even if it is at a higher interest rate than what you could get privately. Additionally, there are loan-forgiveness options for public servants that are also worth considering before refinancing away from Uncle Sam.

While having repayment flexibility can be a major benefit to keeping your federal loans where they are, there can be some danger involved with frequently switching plans, especially when choosing among the income-driven plans.

By overly relying on these plans and using them as a sort of financial crutch, you could find yourself paying back your loans for far longer than you had hoped. In more extreme cases, you could actually find yourself moving backward, meaning your loan balances can actually grow because those more flexible payments don’t cover the interest accruing each month.

However, if repayment flexibility is not needed and you feel secure in your financial situation, refinancing your federal loans with a private lender at a lower rate could turn out to be a no-brainer, after all.

It is important to remember that eligibility for refinancing is based on your financial health and is determined through financial underwriting. After all, financial technology companies and institutions alike will want to understand your financial situation so they can determine what new rate, if any, you are eligible for.

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Therefore, if you are qualified and confident in your ability to make your payments each month, you should strongly consider privately refinancing your loans, potentially saving thousands of dollars in interest through the life of your loan.

Overall, the important lesson here is that the choice between privately refinancing federal loans or keeping them where they are is about more than just your ability to obtain a lower interest rate and better loan terms. Ultimately, the decision requires a closer examination of your overall financial picture to determine whether it is in your best interest financially, because once your federal loans are refinanced, there’s no going back.

I would also like to point out that the discussion surrounding student debt is part of a greater discussion surrounding financial education in our country. For those of us who have already finished our college and graduate school educations, refinancing student loan debt is a reaction to costly financial decisions already made.

If anything, the opportunity to take advantage of any student loan refinancing is a reminder of the importance of financial literacy so that, in the future, we are voting on issues other than who can solve a growing $1.2 trillion-dollar problem.

You can learn about all the federal student loan repayment plans at website

— By Douglas A. Boneparth, partner at Longwave Financial

Pimco revamps BOND ETF, changing fund s name and managers #united #states,daniel #hyman,david #braun,jeffrey #e.


Pimco revamps BOND ETF, changing fund s name and managers

A Pacific Investment Management Co (PIMCO) sign is shown in Newport Beach, California August 4, 2015. Mike Blake

NEW YORK (Reuters) – Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund ( BOND.P ) and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF.

The fund’s new name will be the Pimco Active Bond ETF. Managers Scott Mather, Mark Kiesel and Mihir Worah are being replaced by David Braun, Jerome Schneider and Daniel Hyman.

The ETF’s ticker, BOND, will remain, a Pimco spokeswoman said.

Once run by Pimco co-founder Bill Gross, the ETF’s assets have fallen to $2 billion from $5.2 billion at its 2013 peak.

The new managers bring “the right mix of expertise and experience in an evolving ETF investing environment where clients are seeking more income,” at a time of low rates and low returns, the spokeswoman said in an emailed statement.

The ETF will change its stated goals, including adopting new rules that allow fund managers to build more exposure to high-yield junk bonds and have more flexibility on how much interest rate risk they will take on. Investors expect U.S. interest rates to rise.

The changes are expected to take effect by May 8, pending regulatory approvals.

The Pimco Total Return Active ETF was an actively managed intermediate-term ETF intended to mimic the strategy of Pimco’s flagship mutual fund, the Pimco Total Return Fund, which was also run by Gross.

BOND first began losing assets in September 2014 after the U.S. Securities and Exchange Commission said it was looking into whether Pimco inflated returns of the fund, then managed by Gross. That same month, Gross abruptly left Pimco in a messy split. He now works for Janus Capital Group Inc JNS.N

Pimco agreed in December to pay $20 million to settle charges it misled investors about the fund’s performance. The company did not admit or deny the findings, and said at the time that it has enhanced its policies.

Pimco, which managed nearly $1.47 trillion on Dec 31 and is based in Newport Beach, Calif. is a unit of German insurer Allianz SE ( ALVG.DE ).

“While BOND was a strong asset gatherer in early days, it has shed assets,” facing competition from funds managed by Fidelity Investments and DoubleLine Capital LP’s Jeffrey Gundlach, said Todd Rosenbluth, director of ETF and mutual-fund research at S Editing by Frances Kerry and David Gregorio

IRS Tax Debt Relief #tax #debt #lawyers


IRS Tax Debt Relief

IRS Tax Debt Relief

It’s tough to escape tax debt. Money owed to the Internal Revenue Service is almost impossible to discharge in personal bankruptcy. And while there is a 10-year statute of limitations during which the government can collect the money, the IRS will surely take legal action to get its money before 10 years is passed. Your best solution: Work with a tax attorney to find a tax debt relief solution to your problems.

How the IRS Collects Unpaid Taxes

The Internal Revenue Service has several ways in which it collects unpaid taxes. It can:

  • Get a federal tax lien against your property. A tax lien is a legal claim against your assets such as real estate, vehicles and securities that prevents the property from being sold until the tax debt is paid. In addition, a tax lien may make it difficult to obtain new credit.
  • Impose a tax levy which unlike a tax lien allows the IRS to actually seize and sell your property to repay your tax debt.

The IRS can also add tax penalties to your tax bill in the form of fines and interest charges.

If you ignore tax bills and other legal notices from the IRS, they will take legal action in the form of tax liens, tax levies, penalties and interest. However, this can be avoided if you and your tax attorney communicate with the IRS and work to find a workable solution to pay off your IRS debt.

Legal Tax Resolution Options

There are several ways in which to solve your tax debt problem. Your tax lawyers can review the pros and cons of each option and help you decide which tax debt reduction option would work best for you.

If you don’t have the money available to pay your tax debt in a single lump sum, you can apply to pay the money in an installment payment plan. This lets you make monthly payments to the IRS until your taxes are paid off. The monthly payment is usually a fixed sum, so you’ll want to review your budget and commit to an affordable amount. Interest and penalties will continue to accrue on your unpaid debt, which means you should try to pay down the balance as quickly as possible.

If you have immediate access to most of the money you owe, you can apply for an offer in compromise . This allows you to settle your tax debt for less than the total amount owed. Typically the IRS will consider an offer in compromise if full payment of your tax debt would present a significant financial hardship.

When you apply for an offer in compromise, you’ll also have to submit a non-refundable application fee. Because there is a cost to apply, work with your tax debt lawyer to come up with a fair and appropriate offer. Low-ball offers will be rejected if the IRS believes you can afford to pay more money.

You can also request a penalty abatement from the IRS. This is a request to erase any fines that may have been added to your tax bill. These fines are intended to penalize people who willfully ignore their tax debt. If you’ve incurred your tax debt as the result of an honest mistake or because you’ve been unable to pay, the IRS will consider a penalty abatement.

Finally, in a limited number of circumstances you may be able to discharge some or all of your tax debt if you file for personal bankruptcy. Tax debt will only be discharged if you meet very specific requirements. Your tax relief attorney can tell you if you qualify.

Hire a Tax Relief Attorney Today

Ignoring your tax debt will not make it go away. Your tax resolution solution is to hire a lawyer who has experience negotiating tax debt solutions with the IRS and with your state tax authority.

A tax debt attorney will have the knowledge and experience to evaluate your situation, explain your legal options and suggest the best-possible solution. Your tax relief lawyer can then guide you through the process of eliminating your tax debt.

Are you ready to start solving your unpaid tax problem? Congratulations! can help you find a local tax attorney. To get started, simply complete the form on this page, select your state from the list below or call us at 1-888-490-2407 .

Education Finance Council #banks #that #consolidate #debt


EFC Featured Member

S P Global Ratings and its predecessor organizations have been in business for more than 150 year. They are one of the world’s leading providers of independent credit risk research across industries and benchmarks, asset classes and geographies. Their ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence.

Check Out Our New Member Map

Click HERE to check out our new map highlighting the work EFC members are doing across the country.

EFC Members excel at providing free, innovative college access, student success, and financial literacy programs in their states. In 2016, EFC Members provided over 2.5 million families the resources needed to successfully plan, save, and pay for college.

EFC Members’ free public service programs include FAFSA completion events and help centers, scholarship programs, college planning centers, financial aid workshops and information sessions for students and parents, financial literacy training workshops for elementary, middle, and high school students, and support services and programs for members of the military, veterans, and at-risk and low-income youth, including homeless and foster youth.

Don t fall for debt relief scams – Business – Consumer news #carol, #debt #relief,


Debt relief deals preying on consumer s trust

updated 4/17/2007 4:49:43 PM ET 2007-04-17T20:49:43

How’d you like to lower your monthly credit card and loan payments — guaranteed? It’s an offer that sounds mighty appealing to anyone struggling to pay their bills. A growing number of companies across the country claim they can do this by either lowering your interest rate or reducing the amount you owe.

But beware! Some of these debt relief programs are scams run by con artists who can’t deliver on their promises. If you fall for their pitch, you could lose hundreds of dollars in fees and find yourself in worse financial shape. You’ll owe just as much as when you started, plus have additional late fees and other penalties to pay.

Carol in North Carolina was willing to share her personal horror story with me as long as I did not use her last name. It started with a phone call from a debt management company. The representative told Carol she could get her creditors to lower their interest rates. This would let Carol pay off her credit card, mortgage and car loan debt three to five times faster.

“She specifically told me that I would save at least $2,500 in a very short time and would likely save much more,” Carol states in her declaration to the Federal Trade Commission.

Carol was skeptical, especially when she heard the price was $499. But the salesperson assured Carol she would see lower interest rates within the first 30 days of the program and that these savings would more than cover the fee.

“She spoke with such confidence and zeal that I was moved to tears,” Carol says. “I was thrilled and full of hope to know that I would finally be able to pay off my debts.”

But it didn’t turn out that way. Despite repeated attempts, Carol’s “financial consultants” could not lower the rates on any of her credit cards. The company will not refund Carol’s $499 fee as promised. The Federal Trade Commission has sued the firm.

A widespread problem
In the last few years, the Federal Trade Commission has sued more than dozen debt relief companies. “They simply lie to consumers,” says the FTC’s Alice Hrdy.

FTC ad IRS investigators have also found some counseling services that claim to be non-profit when they are actually a for-profit company. The non-profit pitch can make a potential client feel confident about signing up for the service. “They’re preying on the consumer’s trust,” Hrdy says.

Some of the bad apples in this industry mislead people about their charges. “They either say there are no fees involved or just a small fee,” Hrdy explains. Sometimes, they don’t mention fees at all.

Bruce, who lives near Seattle, signed up with a company that promised to lower his interest rates. He was told to send them a check for $265.

“It was my clear understanding that money was going to pay off my credit card bills,” Bruce told me. It turned out to be a “referral fee” to find him a company that would supposedly help him.

“It was a nasty experience,” Bruce says. “They basically stole my money.”

Warning: Debt settlement programs
Some companies now claim they can negotiate a one-time settlement with all of your creditors that will reduce your principal by as much as 50 to 70 percent. By doing this, they say, your monthly payments will drop dramatically.

“That is virtually impossible under any circumstances,” says Travis Plunkett, Legislative Director of the Consumer Federation of America. That’s why CFA warns consumers not to use debt settlement programs. “They are promising something they can’t deliver,” Plunkett says.

Credit counselors — a better option
Charles Helms, president of Consumer Counseling Northwest, sees a lot of people who have been burned by these phony debt relief programs. “It’s horrible,” he says. Because most of them have a large up-front fee, they’ll take anyone who can pay.

“Their goal is to get you to sign up, not to successfully complete the program,” Helms says. “So here’s someone who is financially damaged to begin with and then these companies just go out and take the last of their resources and kill any hope they have of getting out of that situation.”

With a legitimate credit counselor, there is no right answer for everyone. They sit down with you and give you a free and objective assessment of your financial situation. At Credit Counseling Northwest, they saw 6,000 people last year and found that debt management was the right option for only 19 percent of them. The rest were given a plan to work things out on their own.

With a customized consolidated payment plan you should be able to pay off your credit card debt in 3 to 5 years. You write the counseling agency one check each month and they pay all your creditors.

How the Rolling Stones, Rod Stewart and David Bowie Ran From the Taxman #taxes #debt,


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How the Rolling Stones, Rod Stewart and David Bowie Ran From the Taxman

Tax season is unpleasant for everyone (except for the IRS, that is). But imagine the plight of many popular British bands in the ’60s. In the U.K. the new millionaires had to pay a whopping 95 percent of their income in taxes. The Beatles ’ George Harrison wrote “Taxman” to protest the unfair split: “There’s one for you, 19 for me.

“‘Taxman’ was when I first realized that even though we had started earning money, we were actually giving most of it away in taxes,” Harrison said in 1980’s I Me Mine. “It was and is still typical.”

Many rock stars in this time became “tax exiles,” whereby they established residence in a country with a considerably lower tax rate until they could pay off their debt. The Rolling Stones were one of the first to employ the practice when they moved to France in 1971, and the trip also led to the title to their classic LP Exile on Main St .

“Back in the ’70s taxes were a lot higher worldwide than they are today and there was something anti-establishment about being a tax exile,” says Nicholas Shaxson. author of Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens. “Tax havens had this kind of James Bond image, this frisson of excitement and spies. Now, in Britain and many countries, tax dodging has gone a lot more mainstream and is a lot more part of the establishment.”

In the ‘70s and ’80s many rockers, at least temporarily, encamped to tax havens around the world. David Bowie and Marc Bolan moved to Switzerland; Cat Stevens to Brazil; and Rod Stewart and Bad Company to California. Ringo Starr moved to Monte Carlo in 1975; in an interview, he told Howard Stern he pays “zero taxes.”Even the Police ‘s frontman Sting. who sang, “I don’t wanna be no tax exile ” in 1978’s “Dead End Job,” left for Ireland two years later.

Today, musicians set up their bands as corporations in tax havens like the Netherlands, Luxembourg and the British Virgin Islands. “They hire financial advisers to find pathways through the international tax system to escape tax,” says Shaxson. “At the end of the day, it’s usually about finding loopholes.”

But back in the day, many rock stars purchased one-way tickets out of London’s Heathrow airport. Here are the stories behind some of the most famous tax exiles in the rock world.

The Rolling Stones

Though they sold millions of records in the ‘60s, poor management decisions left the Rolling Stones almost broke by 1971. “In the early days, you got paid absolutely nothing,” Mick Jagger told Fortune magazine in 2002. “I’ll never forget the deals I did in the ’60s, which were just terrible. … You say, ‘Oh, I’m a creative person, I won’t worry about this.’ But that just doesn’t work. Because everyone would just steal every penny you’ve got.”

Each of the Stones owed the British government a quarter of a million dollars in taxes, a huge sum at the time. They decided to move the band to France to avoid taxes and shelter their earnings in a Netherlands holding company.

“We had to leave England to acquire enough money to pay the taxes because in those days, in England, the high tax rate was 90 percent, so that’s very hard,” Jagger told CNN. “You made 100 pounds, they took 90. So it was very difficult to pay any debts back. So when we left the country, we would get more than the 10 pounds out of 100. You know, we might get 50 or something.”

The move proved to be both a creative and financial success. Exile on Main St.. whose early recording sessions in the basement of Keith Richards ’ villa near Nice practically defined rock decadence, is one of rock’s greatest albums.

More than 40 years later, Jagger and Richards remain tax exiles, only allowed to spend a few months a year in the U.K. Jagger commutes between homes in London, France and the West Indies; Richards lives in Connecticut. “The whole business thing is predicated a lot on the tax laws,” Richards told the New Yorker . He made no excuses or apologies about leaving Britain because of its tax rates. “We left, and they lost out. No taxes at all.”

Listen to the Rolling Stones’ ‘Torn and Frayed’

David Bowie moved to Switzerland in 1976 after a stop in the United States. Angela Bowie, the glam rocker’s wife at the time, wrote in her memoir ‘Backstage Passes’ that Bowie had to leave to avoid paying increasingly hefty taxes.

“If David were to remain a resident of California, he would have to pay a hefty tax bill – $300,000 was the figure I was told – with money he didn’t have. As I understood it, these were tax debts accumulated over the previous few years, during which time vast quantities of taxable cash he had generated had vanished into various murky areas.”

Educated in Switzerland, Angela negotiated their move to the Alpine tax haven. “I got what we wanted, and better: legal residency in Blonay, a charming village above Lake Geneva, near Montreux in the French-speaking part of the country … and an almost ludicrously low tax rate of about 10 percent.

“The Swiss take their residency requirements seriously and demand that their resident foreigners spend significant amounts of time at ‘home.’ Therefore you ‘stay’ or ‘work’ or ‘holiday’ in your London flat, Berlin garret, or wherever, and return to Switzerland when you have to. It’s like being on work release from a very nice, court-ordered health resort.”

While living in Geneva, Bowie began spending a lot of time in West Berlin. By the end of the year, he moved to the West German city and created his acclaimed “Berlin Trilogy” of albums: Low. Heroes and Lodger .

Watch David Bowie’s ‘Ashes to Ashes’ Video

Rod Stewart made clear in a 1974 Melody Maker interview that he would leave the U.K. over its tax rates. “The Government thinks it’ll tax us bastards right up to the hilt because we won’t leave, but that’s wrong because I will if I want to … with a 90 percent tax ceiling, it’s just not worth living in England any more.”

Stewart made good on his threat the next year when he and actress Britt Ekland moved to Los Angeles. “In April 1975, when my relationship with Britt was just getting going, I left England and became a tax exile,” Stewart wrote in Rod: The Autobiography . “This didn’t go down particularly well with the British press, who thought I was betraying the land of my birth. It didn’t go down especially well with Elton John. either. Round at his place one evening, I told him I was thinking of quitting Britain, and he called me a traitor and put on Elgar’s “Pomp and Circumstance Marches ” at a volume so high that we couldn’t talk over it.”

That year, Stewart explained to Rolling Stone why avoiding the taxman was so important. “You know, they don’t seem to understand. You only get one bite of the apple. I can’t be doing this for the rest of me life. I don’t want to do it for the rest of me life. You do an apprenticeship for seven or eight years, like I’ve done – well, like everyone’s done – an’ then you earn a lot of money in one year and they want to take 90 percent away. I mean, I’d stay. Just leave me a little bit; just enough to get by on. But 98 percent – Christ!”

Stewart’s decision to leave Britain was reflected in the title of his 1975 album, Atlantic Crossing. He still lives in Beverly Hills.

Rolling Stones Live Albums Ranked Worst to Best

UK National Debt Clock – No-nonsense Guide to Britain s Debt Crisis #uk #national #debt,


UK National Debt – how Britain owes over 900 billion

It’s a truly frightening figure. Why is the world’s sixth richest country so deeply in debt?

Every year the UK runs a large budget deficit. The Government spends more money than it can tax, so we plug the gap by selling bonds to investors at home and abroad. These bonds – known as gilts – have to be repaid in full, with interest. Added together, our unpaid loans make up the UK’s national debt .

Right now, that debt is growing violently. The Government forecasts it will soar to an eye-watering 1.1 trillion by 2011. To put that in perspective, the UK went bust in 1976 running a budget deficit of 6% of GDP. In 2010 that deficit is going to top 11%.

Historically. our debt burden was heavier after World War II. But like any loan, if the money isn’t invested wisely we end up borrowing even more. When the Government runs up huge debts and produces nothing to show for it, we’re the ones that shoulder the burden. This year that burden will grow by 167.9 billion .

The state has been wasting our money for decades. Weak politicians have bribed voters with endless amounts of borrowed cash. As a result, in 2010 the interest on the national debt will cost 42.9 billion a year. That’s more than we spend on defence, and not much less than the entire education budget.

Future generations won’t thank us for mortgaging their future. At best, national debt will be a millstone round our children’s necks. But if lenders lose faith in Britain there could be profound consequences for our currency, our country and our lives.

Read on for the complete guide to Britain’s debt

Take cover

  • We owe 14,968 for every man, woman and child
  • That’s more than 32,361 for every person in employment
  • Every household will pay 1,893 this year, just to cover the interest