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

Future Kid asked:


I am starting my own bank account and would like to know if the money that I put into my mind goes directly to my debt card and when I put the money in my bank account is automatically put on the card or I have to do something to happen? Thanks …

Sarah

chriscornelluv@sbcglobal.net asked:


I need some advice. I plan to always pay all my bills on time but it seems like I can never get out of debt. I had to support me financially since it was basically 14. I passed through school. I could not ever worry about the money. I'm about $ 25,000 in debt now. I make about $ 32,100 per year. I am feeling overwhelmed and need some suggestions.

Alvin

Mr. Detroit asked:


Hey, I 'VE just blessed with a nice progress compared? To 150k for the hospitality. I want to get some advice about what? if i pay off debt first. My fico is 430 and im trying to buy a house but I have a little car repo 's cards cr? Dito apartment and 1 as? as pr? stamos student. Please if anyone has tips on c? Mo turning around now cuz I have the money to pay off debt. Thanks!

Brent

stuckinlove asked:


I am working on getting out of debt and am doing okay at it, but I can’t do anything while doing it. There is nothing left to do fun things, and I can’t even date if I don’t have money to go out with. Is it really such a viscous circle?

Ron

highfieldzoo asked:


I need to save $10,000 by August 2007.
I have $24,000 in credit card debt with $30,000 in Limit and my average credit card interest is 18%.
Is it smarter to save money in savings or to pay off credit card bills and have more money available.

Joann

Chelsea O asked:


I have a credit card open with Citi and I owe them money. What will happen to my account and debt if Citi fails and closes their doors?

Douglas

stef_leppard asked:


This past summer, a collection agency contacted me in regards to an account with a department store that was paid off in 1993. They told me I still owe on it. I no longer live in the state where the debt was initiated, so which state’s statute of limitations do I use, the state where the debt originated or where I currently live? Telling the agent who calls me that I don’t owe it doesn’t work. They tell me that their client still wants their money. Could this be a scam?

Lucille

a1beachfreak asked:


I’ve had a really good paying job for five years. I didn’t think I’d be faced with an inability to pay my bills, but I just found out my plant will be closing in May. I don’t doubt I’ll find another job, but one making the kind of money I need is doubtful. I don’t want to file bankruptcy, but some kind of a helping hand would be great. I don’t want to be scammed…..I want to be helped! Any ideas about legitimate debt reduction?

Norma

D Green asked:


Okay so I was told I had to go to college otherwise I’d be poor the rest of the my life…..soooo what did I do, I went to college!!!
I have about 44,000 in private laons which they charged me interest of 7,000 throughout the last 4 years.
Plus i have a about 15,000 that I am paying back to my school with government loans. This is ridiculous….I feel like my life is over. Come to find out, I find that I could have went to BYU with an accounting degree, and pretty much garanteed myself a job for only about 1900 a semester!

What the heck! How do l get help paying off this debt. I wish I had parents that knew what they were doing when it came to money cuz i didn’t know anything back then….
I have 12,000 in the bank…so I am going to take that and pay off one of my loans….my dad said he’d pay off one for 4,000 right now…. so hopefully I can get my monthly payment down to 350 a month….
Should I consolidate? I wish I could reduce the debt. HEELLLP ME!!

Dawn