Are there companies that can negotiate a reduction in my taxes and credit card debt?

I've been going deeper in debt because of not having a job and paying for courses that will allow me to start a new career. I just heard an advertisement about a company that states it can have your tax debt reduced by up to 85%. I've also been contacted by companies that offer debt negotiation services. Has anyone had any experience with these. And how can you tell if they are legitimate or just more of the predatory lender types?

Are there companies that can negotiate a reduction in my taxes and credit card debt?
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Reply:Most of the tax settlement firms that advertise heavily are complete ripoffs. Their fees can run in to the thousands of dollars and the IRS still says "No" a vast majority of the time.





The IRS does have a settlement program for those people that owe more than $10,000. It is called an "Offer In Compromise". It is a complex matter. The "form" for the offer is 44 pages long and the IRS has 2 years to decide. The tax settlement firms will always tell you that you qualify. They tell everyone that they qualify but the truth is that the IRS says No over 80% of the time.





If you owe under $10,000 in taxes, there is nothing that anyone can do. Enter in to an installment agreement with the IRS and stick to it. If you owe more that $10,000, read up on "Offers in Compromise" at IRS.gov and, if you think that you qualify, contact a CPA or EA in your local area.





I don't know a lot about debt settlement companies but I believe that they also have a bad reputation for being ripoffs.
Reply:Stay away from those, they will screw you over even worse. Maybe should have put off school until you got your debt payed down? You made the debt, it's your responsibuility to pay it off!
Reply:There are a lot of services that offer free debt reduction and consultation. Here is one of them, you can give a call. It is a non-profit organization. 877-208-2227

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