I just found out that my husband and I owe over $4,000 in taxes this year 
I would like to get a personal loan to cover that, and pay off the rest of our debt, so in total, I would need the loan to be $10k. I don't have all three of our credit scores, but Equifax is 604-him, 558-me. Can anyone give any suggestions as to where we should go to try to get approved? I've tried a credit union, but my husband has a few old unpaid collections on his report, and I have been at a new job for only 4 months, so they said we would need a co-signer, and collateral, and even then we still couldn't get $10k.
I really appreciate any advice!!!
@Anonymous wrote:I just found out that my husband and I owe over $4,000 in taxes this yearI would like to get a personal loan to cover that, and pay off the rest of our debt, so in total, I would need the loan to be $10k. I don't have all three of our credit scores, but Equifax is 604-him, 558-me. Can anyone give any suggestions as to where we should go to try to get approved? I've tried a credit union, but my husband has a few old unpaid collections on his report, and I have been at a new job for only 4 months, so they said we would need a co-signer, and collateral, and even then we still couldn't get $10k.I really appreciate any advice!!!
I would also ask IRS for payments. I currently am paying IRS $150.00 per month on 5600. They charge you 12/5% interest. They will almost always approve payments, If you request installment payments
Hi monroe, I had to make payments one year. Except it wasn't 12.5%. It was 2.5% per MONTH (that's 30% for the year). I paid it off as soon as I could. LOL.
Starting Score: 469
We also got stuck a few years ago (clueless when dh was an independant contractor). Anyway- we set up a paymnt plan through the IRS, and I have no complaints (other than it was a waste of interest money!!!). But, they were very easy to work with! They asked what we could afford, and we told them 150/month, and they said 'great.' THey have some 'rules'-- you can only set up a payment plan every few years-- so don't do this again! 
And any refund in future years will go right to the balance.
And any refund in future years will go right to the balance.Good luck!
-iwannahouse
Thanks for the responses!!
I've gotten conflicting information about paying the taxes in monthly payments to the IRS. Their website says it costs $125 just to set up the payment plan, and with interest and penalties, it would be cheaper to pay using a credit card or personal loan, which just seems crazy. A co-worker I spoke with said the interest and penalties is up to 16%, but I'm not sure about that.
Part of the reason that we owe so much is that I have a full-time job, but am also an independent contractor with the government (last year I made $8,500 with that job in addition to my regular income), and I have to pay the taxes on that income. I also paid off (settled) 3 credit cards that had been charged-off (before I knew of these forums 
) and 2 of those sent me a 1099 with the amount that they wrote off of my debt, so I had to include that as income. It's really interesting to me that the 3rd company did not do that (I think that was WaMU).
) and 2 of those sent me a 1099 with the amount that they wrote off of my debt, so I had to include that as income. It's really interesting to me that the 3rd company did not do that (I think that was WaMU).Anyway, I've applied for a loan with BOA-got flat out denied, it's not looking too promising, and the 15th is coming up pretty fast!!