That's a good question, and one which has been raised increasingly by Oklahoma residents in hock to the IRS who have been barraged by TV and radio ads from debt-consolidation firms. If you are in a depressed and agitated mood, these commercials certainly are enticing: a paid spokesman promises to get you out from under the thumb of your bank, your credit-card company, and the IRS, and negotiate a deal by which you can combine all of your debts into one reduced lump sum. All you have to do is write a single check every month, and you'll never be bothered by bill collectors—or the IRS—again.
But, an experienced Oklahoma tax attorney will give you a much different perspective on this. First of all, these debt-consolidation agencies don't have any particular expertise in dealing with the IRS, and may actually secure a less advantageous deal on your tax debt than could be obtained for you by an attorney.
Second, these firms are not motivated by altruism. They know that by “helping” clients they are guaranteeing themselves a long-term income stream. This is because the lump-sum payments you make carry an extremely high interest rate, payable to the agency. They may even find a way to obtain the title to your home or other property as a form of collateral, if you don't pay attention to the documents you're signing.
There is a better way, and that's to bite the bullet, hire an experienced Oklahoma tax attorney, and pay the money you owe. At the law firm of Travis W. Watkins, PC, our Oklahoma tax experts have decades of experience dealing with the IRS and obtaining advantageous tax settlements for our clients. Call us at 800-721-7054 for a free consultation today!