Not always have enough savings to meet the payment of taxes. In this case, unless we have negotiated with the tax deferral of payment of the same, we have contracted a debt to Treasury debt that will, in principle, a limitation period of four years, common to all tax debts.
And we say in principle because this limitation period, which shall be counted from the day following the deadline for ending the tax payment, but stops at the right time the tax take any action to obtain payment of the same, whether civil or criminal, filing appeals, etc..
Also be interrupted if we make any payment or action leading to the extinction of the debt. Keep in mind that every time there is some action that stops it starts again calculating the period.
This period of four years is generic to all debts except for the customs tax, which is three. Another exception to this deadline is undeclared income, which, according to the Council of Ministers approved on Friday, will not prescribe ever.
For this period of four years and we are required to retain during the term proof of payment of each tax, since the tax has the time to make a parallel statement in order to detect any irregularities in which we been incurred in the payment of the tax.
Once you have passed the statute of limitations, tax debt is extinguished, ie stop being debtors with the Treasury and we can re-claim.
Whether for not setting well our borrowing limit or because we have emerged incidentals may find ourselves that our debts are carried much of our monthly income and even exceed them.
Although this situation is often distressing to overcome and go slowly decreasing the level of monthly payments it is essential to the proper management of our debts. Thus, even long term, we see our financial horizon much more clear. There are different methods to manage debts and we choose the one that best suits our personal financial situation. In this case we refer to Snowball (debt snowball). To do this we follow a set of guidelines:
- Make a list of all our loans mortgage, personal loans, fast, credit cards … etc.., Collecting monthly payment amount, the interest rate and the repayment period.
- If we can meet the higher costs and interest that we assume, will start for her. However, as this is usually the mortgage, which involves a fairly long-term, it is best to pay first that it takes us less amortization. So we feel more liberated and motivated to continue the reduction of debts.
- If we can not deal with all debts, we can try to reduce the amount payable, either lowering the quotas of credit asking a grace period in the case of the mortgage. Although involving a longer repayment term, we will help save the situation temporarily.
If we have left something at the end of the month, we will invest in debt, trying to pay as much as possible. If not, we should at least pay the appropriate fee. Once solved the debt, apply the second method to the next in the list.
During the boom years, there were many families who bought homes or contracted loans and credits. At that time, their incomes allow them to deal with the shares of the same in comfort, but with the advent of the crisis many of them, especially because of unemployment, have seen if economic conditions changed dramatically, and as a result of it have seen their debts have become much more than your income.
Manage a situation of this type and achieve family economic rebalancing is not easy, but we can make it if we take a series of measures to help us achieve:
- First, we must be clear about how much money we enter and what our monthly expenses. To do this, we must make a budget to collect our revenues and our expenses, both fixed and extraordinary.
Latter that will have to reduce as much as possible, to try to make the amount we need to reduce as far as possible.
- It is also important to organize the debts in order of importance, starting with the mortgage payment and continuing with the other. Before you stop paying them, we should try to negotiate with creditors a reduction of the share, a grace period or a custom formula to meet the payment.
- If you still our expenses are greater than income, we attempt to obtain a source of extra income. In this case, a part-time job or weekend can help to alleviate the situation.
- It is advisable to leave credit cards at home and pay all cash. We can order envelopes income depending on the game you have to be allocated and always stick to that amount, not to create new debts.