Q: Are the credit-reporting agencies answerable to anyone? They have a major influence/control over many of the aspects of our life, but trying to get their reports to be accurate is a major challenge, and they're not very helpful. I've been told that there's a new law regarding correcting your credit reports that's supposed to be "customer friendly," but I'm running into many stumbling blocks. And the dispute form I've looked at (from Transunion) is very limited. — Lillith, via e-mail
A: Dealing with credit reporting agencies is a major frustration. They impact many aspects of our lives, and getting them to be, as you described, "accurate" is a major challenge. I know of no law that is going to help you very much with correcting your credit report, and this "consumer friendly" stuff is a joke. The dispute forms that I have seen from the major reporting agencies are sadly deficient. Without knowing what transgression they have made, it is very difficult to help you find a solution. If you would let me know, I would be very happy to examine this further.
Q: I went through a period in which I did not pay my federal income taxes, as well as state. I realize what a foolhardy thing I did. Now I am facing liens and garnishments. I want to rectify this problem; however, I can never realistically pay off these taxes in my lifetime. Is there any way to pay off the principle without having to pay taxes and penalties? Can a tax attorney help me or is it too late? — W.D., via e-mail
A: You're right! You say you did not pay. Does that mean that you did not file your federal income or state taxes? This was foolish, without question, but you are not the first, nor will you be the last person, to do this.
Talk to either a CPA, who practices before the IRS, or an Enrolled Agent. Due to the reality that you can never realistically pay off these taxes, it is possible that your obligations can be negotiated. The two parties that I mentioned would be my choices. Good luck.
