gnlgates asked:


Anyone know how to get credit card companies to work with you BEFORE you ruin your credit with missed payments? It seems they all tell me my accounts are fine, even though they won’t be soon,….I don’t want to have to ruin my credit score before they are willing to work with me to pay off my debts at lower interest rates or payments. Any advice?

Ricky

Nobody asked:


And when we do it is a measly $600? With the $700B they spent on Wall street they estimated that every single American could have gotten $2000. That would have been $10000 just for my family.We could have paid off our debts and had money to spare. We could have repaired our credit and had a fresh start. But no. All the rich corps get our hard earned money and I am sick of hearing about how it will help me in the long run. My husband has 2 jobs and I work at home plus take care f my kids and we still have no money and are living paycheck to paycheck. We receive no public assistance whatsoever. I don’t know about you, but I could use some relief right now instead of the ‘long run’. If they can keep coming up with billions of dollars for companies, I say it is time for us to take a stand before we all starve to death and it is too late.

Jorge

Lady B asked:


If someone is potentially facing a short sale but still has 30k left on an equity line, would it be possible for that person to use the 30k to pay off student loans and other debts with the equity line if they know they are already facing a short sale or foreclosure? Due to the Mortgage Forgiveness Debt Relief Act that was just enacted, a person would no longer have to pay tax on the debt forgiveness, so therefore the additional money used from the equity line would not be taxed. Would it be smart to pay off student loans with this money if you already knew you would lose the house?
Please no mean answers, I’m asking hypothetically if it would be possible to use this $$ without penalty.

Andrea

trudmama asked:


If someone is potentially facing a short sale but still has 30k left on an equity line, would it be possible for that person to use the 30k to pay off student loans and other debts with the equity line if they know they are already facing a short sale or foreclosure? Due to the Mortgage Forgiveness Debt Relief Act that was just enacted, a person would no longer have to pay tax on the debt forgiveness, so therefore the additional money used from the equity line would not be taxed. Would it be smart to pay off student loans with this money if you already knew you would lose the house? What about using that $$ and then foreclosing?

Ann

Jenn asked:


My husband and I have some debt that is not mentioned in any of the credit reports (I 've found the 3). Should we continue to pay the debt or just hold off until we get the rest of our current debt paid off? These debts are less than 8 years and we 've not received cuaesquiera recent post. We have only the original accounts of 5 + years ago. Thanks!

Joann

interdependent globalized world asked:


How does the debt system work, what happens when the other countries buy our debt, can they sell our debt to other countries, can they force us to pay our debts at any given time, please explain how the national debt system works?

Thanks, I need lots of details and really want to understand so thanks again for your help!

April

yoran asked:


are there opposing sides to this?
should poor countries have to pay back their debts?
why or why not?

Marjorie

Ronnica Rothe asked:


If you need help with credit card debt, credit counseling is a great place to start. Not only can a credit counselor help you untangle you budget, they can also provide you with viable options on how you can get out of debt.

A credit counselor knows just the right questions to ask you to get a good picture of your financial situation. By gathering the necessary information, they will be able to determine how bad a situation you are in. The better they understand the problem, the easier it is to find the correct solution.

One way that a credit counselor gets your financial picture is by helping you to create a budget. By determining exactly where your income comes from and where your money is spent, you will be able to see what your financial situation looks like on a monthly basis. This can help you determine what areas you could cut back on and how much you can afford to put towards debt relief.

After getting a good idea of your budget and gathering information about what type of debt you have, the credit counselor can lay before you what option or options will best suit your debt relief needs. If you should be able to best pay off your debts on your own, they can provide you tips on how best to go about this. If they determine that you could use the reduced interest and disciplined schedule of a debt management plan, they will outline that for you as well. Most importantly, they will be able to answer the debt questions you have and provide you a realistic and honest look at your financial future.

If you decide that credit counseling is right for you, find one that is reliable and personable. Many offer their credit counseling services for free. By having someone look at your finances, you will be better equipped to make financial decisions now and in the future.



Constance

gatherusin asked:


Here is my situation-

I am approximately $5000.00 in debt. Some of it is pressing- past due light/power/gas bills.

Some of it is medical… pre insurance (the hospital is now suing me for 1400.00 as of today) I’ve tried paying small payments, but apparently that doesn’t work anymore.

Some of it is old things - old bank account, old cell phone company bill.

I make about 27,000 a year, but right now, I’ve dug myself so far in, I can’t keep ahead of everything. I have no assets (no car, house… anything “repossesible”) No bank will loan me anything- who would offer a credit card unless the interest was outrageous?

Am I beyond debt into bankrupcy? What on earth can I do? I’ve made financial mistakes in the past (overspending etc…) but how do you move beyond that when everyone is penalizing me to the point where my paycheck is 90% gone before I ever get it???

Please please help. I am lost.
FYI - I do not have credit cards. All debts are due to lateness/fees etc…, not accumulated by credit cards.
Ok, so i forgot about a loan- this puts me 9000 in debt… lets say I try and do it myself (no debt consolidators etc…) What kind of order would i put priorities on them???

Ana

David Cunningham asked:


There isn’t much in this world that is more frustrating than finding you are in the midst of a financial crisis. A crisis of debt is a burden shared by many Americans making them feel as if they are drowning financially. You will be happy to learn there are ways out of the sea of debt engulfing you.

Emergency debt relief loans are a viable option and available to assist many personal circumstances. Administrators of such loans can consolidate your debt so that you have one payment instead of several. They can flat out help to pay off your debts while you make a payment to the loan company or program holder.

This may be your best solution. High interest rates tend to increase, and low interest rates climb further up the ladder as well. The result is a domino effect of debt that needs to be addressed quickly lest your bills snowball into an ugly bankruptcy situation, forever destroying your credit.

It is generally known that people who seek the help of an emergency debt relief program are those who have very high credit debt and most likely overspend well beyond their means. High interest rates are often a contributing factor, and your circumstances may no longer permit you the ability to afford them.

You can get yourself out of debt almost very quickly by tapping into an emergency debt relief program. You will be offered several services that can aid in making your credit card and other debt significantly decrease. You can get involved in educational program services that will teach you how to both manage your expenses wisely and set realistic financial goals.

If not sure that emergency debt relief programs may be a plausible option for you, then you should also be aware that a debt relief program will initiate settlements with your creditors and try to arrange easy repayment, which stops further escalating interest rates. They help to ensure that your finances are handled prudently. And if you’re worried about your personal information, there’s no need; you’re protected under the fraud act in your state.

Getting yourself out of a huge amount of debt is clearly challenging, but having the right information concerning an emergency debt relief plan will help you fulfill your goal of becoming debt free in a relatively short period of time.

Here are a few tips that can help in your quest to become free from overwhelming debt:

1. Cancel your credit lines and choose a different plan that offers low interest rates for your credit cards.

2. If possible, it is wise to discipline yourself to pay cash for your purchases instead of using plastic. Just make sure to stay within your budget.

3. You know how much your payments are as well as how much you earn per month. Analyze your bills and income and, if possible, pay more than just the minimum requirement.

4. Be sure to pay your bills in a timely manner. It’s a good habit to get a jump on them before they are due.

5. Reduce the number of your credit cards. If you have five, then cancel four of them. You only need one. This is manageable and will reduce your payments and interest rates.

Not all debt relief programs are created equal. Use your best judgment when settling with a company to handle your debt restructuring. You have to feel comfortable with them and able to accept their terms.



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