At the time that we filed, the IRS had received more than 20,000 claims for tax liens that we provided in our Settlement, and we received thousands more in the last week. We submitted the claims to settle these for you without court approval and are confident that we have substantially reduced the burden of collection activities on the taxpayer as a result.
The Settlement was based on a formula that gave everyone an equal claim for the $0.99 value per lien at the time of settlement. But the Settlement is really two components – the value of the claim, which was an amount in exchange for the lien at the time of settlement, plus the dollar value of the interest (at the statutory rate of 14 percent per annum) that would have accrued on the lien, had the IRS chosen to forego payment for a collection period (normally three years, but six months is allowable as well).
The value of the claim under the Settlement is the amount of interest the lienholder would have had to pay (which may be more or less than the claim amount). We determined this amount by using a market analysis for CNC mills based on market rents in San Francisco and the Bay Area.
We then added the value of the interest (calculated by using simple interest) on the lien. You can access the value of the claim by logging into your FreeSettlement account.
For example, under the Settlement, there were a total of 1,973,842 claims with an average claim amount of $9.96. And the total combined value of the claim and interest was $11,984,053.
The average interest in each of the lien claims we have processed to date is around $0.095 per lien – which means that for the average claim the total payment (claim plus interest) is around $9.86.
With the current IRS budget crunch, however, there will be an immediate cash crunch. But if and when that funding runs out, the Settlement funds will be available to the U.S. Treasury, with interest, which will put money in the IRS coffers – and you’ll be getting the back pay you deserve.
More questions? Email freeSettlement@paydayloans.com or call 888-506-4100 and you can talk to one of our customer service representatives, who will be happy to assist you.
We have had excellent response so far to our freeSettlement service. We’ve had requests from the federal and state governments for more settlement services to aid with short-term cash problems.
One of our goals is to keep people in debt as little as possible. And when people find themselves in debt, they almost always have to decide whether to pay their creditors in full, or if they should try to negotiate their debt-settlement amounts.
Most people opt to negotiate their debts, and we don’t try to dissuade them. Sometimes, however, people may have to try to work out an agreement with their creditors, because we can only settle one claim per day. And this is where we’ve come up with the idea of freeSettlement – and the promise of free tax refunds.
FreeSettlement – The Free-to-the-Government Payback Plan
FreeSettlement is a form of debt settlement that works with a special type of claim called a lien claim. In lien claims, a lien is filed against an individual’s real property. A lien claim for a real estate loan is simply a recording of an interest that is owed to the lender. The lien claim is a way for the IRS to get their money and we as debt-settlement company can get our money as well.
Here’s how FreeSettlement works.
Let’s say you owe someone $10,000 on a credit card, for example. We help you to negotiate a reduction in your debt-settlement amount, which we think is fair. Because the amount you owe on the card isn’t enough to pay for any of the creditors, a lien claim is placed on your property. This means that the IRS (or someone on your behalf, of course) takes action to collect the money that you owe them.
We do all of this for free. What you get out of the transaction is a lump sum of $1,000. For this, you send us $1,000 and pay back the $10,000 that you owe with no interest. In this case, the lump sum that we will get as compensation is $1,000.
Of course, you are allowed to pay back the $1,000 over time. And we charge no interest on the money we get, as we do not use any of your money at all. The goal here is to pay back the money to you in as little time as possible. You just have to decide how much time you can afford.
How does FreeSettlement help you?
Our clients find a lump sum of cash to pay back to us without having to pay any interest or penalty. In fact, this is a great deal for those who don’t have the extra cash to cover any fines or penalties that are involved.
Here’s how it works: your creditors will receive a notice of a lien claim placed on your property, and they’ll work to sell your home. Of course, they will have to pay for all of the expenses involved.
You do not pay any of that money.
We are the ones who receive the money. We do that by taking out a lien on your property and the lien stays with the property for the amount that you owe until the debt is settled. We pay you the full amount that you owe in cash at the time you sign the contract.
Once we get paid, we pay you back the full amount you owe.
As with the lump sum settlement of a lien, the best thing that you can do to protect yourself and your family is to get the lump sum money.
Get free no obligation debt advices by calling (888)489-4889 today.