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Debt Consolidation

~1300 answered questions
Parent Category: Debt Collection
Services offering advice regarding the management of personal debts and the combination of several individual loans into one large loan
The cost of replacing a part is a very general question that unless specified exactly is hard to answer. First, is who is replacing the part? Is the Dealer, an independent repair shop, a junkyard, the guy next door or you doing the replacement. These will all yield different prices. Not to mention t…
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Look at it this way, they "made arrangemnets" when you bought the car. You couldnt/didnt pay then while you HAD the car. So why will you pay on your own when you DONT have the car. Likely they will garnishee.
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Answer The law ONLY requires the lender to sell "in a commercialy reasonable manner". There was NO law to require you to pay tooooo much for it in the first place.
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1. Find a car with a large factory rebate(some are over $6000.00). Some lenders will allow you to use the rebate as cash down. Put down some additional cash to help with the payoff of your car, and negotiate the price of the new car down to invoice or less, and you may be able to get out of your cur…
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Hiring a Credit Repair CompanyHere are some things to know about credit repair companies. By law (see The Credit Repair Organizations Act), credit repair services must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract to repair credit. Credit…
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In a debt replayment plan, you deposit money each month with a credit counseling service. Your deposits are used to pay your creditors according to a payment schedule developed by the counselor. As part of the repayment plan, you may have to agree not to apply for ? or use ? any additional credit wh…
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Answer You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Think carefully before taking this on. These loans require your home as collateral. If you can't make the payments — or if the payments are late — you could…
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It depends on whether your debt is secured or unsecured. Unsecured debt is when your debt is not tied to any asset. Examples are credit card debts, credit lines, unsecured personal loans, etc. If your debt is unsecured, you should avail of the reliable services of a professional credit counselor.…
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Yes. You can do it on your own but companies can usually get larger settlements. You on your own are doing one...where as if they have 10 different people with a card from abc bank, totaling 100,000 in balances, they offer 40,000...a bank usually will not say no to that much. You on your own...are …
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We have a similar problem. We have an open Montgomery Ward credit card account that can't be closed because the company is no longer open. I can give you some info we tracked down that may very well help you. As of June 30, 2003: The company that is managing the MW estate is: John L. Palmer, Certifi…
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If the debt is already in collections it is really behind..it is not going to hurt. That information stays on there for 7 years anyway. Better to have paid something rather than "0"....and you can get them to put settled but satisfied...request it in writing when you get the settlement. Typically,…
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Answer NO! First thing to do if you want to pay off old debts is dispute the negative items on your credit report. If an update is over 5 years old they have to remove it. The reason I say dispute it is because when the credit bureau contacts the creditor the creditor has 30 days to validate the …
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By "bad debt", I assume you are referring to collections. All lenders do not make you pay off all collections. In fact, there are some non-conforming lenders who do not make you pay any collections, other may only make you pay if the total is over a certain amount. If you are shopping for a mortgage…
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I was interested in doing this; I asked random creditors first what the effect would be on obtaining future credit. They advised that it was better than bankruptcy by far, but that it told creditors that you had trouble managing your finances and you were a poor credit risk. When i was in debt I ca…
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Depending on what this question is really asking, one obvious possible answer:Make more money through your business!And one less-obvious possible answer:Negotiate with the debtors for an advanced repayment schedule, so you can repay the debts faster.
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%DETAILS% Answer If this is a Chapter 13, you can petition the court for a modification or refiling. If it is with a private CC org. they can amend your contract. If it is a 13, contact the trustee as soon as you can and explain your difficulty. Do not let it default. Texas is a community pr…
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%REPLIES% Answer Not necessarily. Because of all of the factors that go into determining credit scores. Do some research on this forum to some reasons as to why. Answer Slightly, yes.
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Paying off the debts will hurt your credit score. I would first send them a letter requesting debt validation and dispute the account with the credit bureaus. If they don't respond to the first request in 30 days send a second validation request. Start racking up the violations and threaten to file …
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2nd part of your question first:No, it won't hurt you to try and may help you by forcing you to educate yourself about your rights under the law and civil procedure.As far as "how"; that's a bit more complicated, but definitely worthwhile to pursue. Refer to www.artofcredit.com for information.You c…
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If the referrence is to a consolidation loan then that depending on the party's financial situation would be a better choice than BK. If the issue is whether a chapter 7 or 13 BK is the best choice, it is always preferable to pay debts even partially. However both are detrimetal to credit history. A…
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Depending on state statutes, a notice/summons can be sent via registered mail.
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Credit card consolidation Credit card consolidation allows you to make just one payment to the consolidator, instead of numerous smaller payments to many cards. Be cautious of credit card consolidation and other debt consolidation plans. These plans are not always the best option for your overall f…
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Credit Card and Collection Ageny Debt A collection agency cannot sue without the approval of the original creditor. Actually they can't sue at all. And if they tell you they can, they are violating FDCL. They refer the account back to the original debtor, who decides whether or not to sue and then f…
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Sometimes.. On the other hand, they might just raise your interest rate, thinking you could be a high risk. Depending on the circumstances a creditor is reluctant to settle for less than the full amount, unless a lawsuit has been initiated and is in mediation. You need to look at all the pros and co…
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Probably. Assuming it was a legitimate transaction done before any legal action was taken by creditors. If a creditor had already filed a suit, it might be seen as a fraudulent conveyance and LLC protection would be voided.
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The company/bank may be willing to negotiate a settlement to avoid the consumer filing bankruptcy. Or perhaps to avoid pursuing legal remedies to collect the debt. They will not consider a settlement if the consumer is simply asking to pay less than the full amount. For obvious reasons.
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The best approach would be to work with the Creditor's attorney to come up with some kind of agreement.You can also move to have the stay reimposed or ask the Judge to reconsider lifting the stay.   If the motion for relief from stay has been granted, you no longer have a defense. The time to…
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That would be determined by state statutes. You need to consult with a your attorney ASAP. In some states the mortgage lender can foreclose within 30-60 days.
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All creditors are given notice of whenever a BK is filed. They have the option of filing to block the Bk proceedure for any debt owed them if they believe the debtor is able to pay. Usually this is done by a secured creditor.
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This would be the best case scenario for your credit report, but it does not happen automatically.Hopefully, your bankruptcy attorney was diligent about informing all creditors included that their debts were discharged. If not, and you still have derogatory information showing that was included and …
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%DETAILS% Answer The best bet is to start by talking to your attorney. (S)he may have a valid reason. If the reason is useless, then I would start by finding another attorney. File a grievance w/ the local bar and possibly file suit against the first attorney. BEFORE you do any of th…
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%FOLLOWUPS% Probably not, since the divorce has been finalized. Although some states have bankruptcy laws that do include joint debts in this type of situation. W/O knowing the state of residency more specific information is not possible. You could consult the state bankruptcy laws for informatio…
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: The best way is to look for a reputable organization that is an approved nonprofit organization. You can check with the IRS to ensure that the organization is tax-exempt. Otherwise, any Debt Consolidation Company can try to sell you on a consolidation option that could make your situation even wor…
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Garnishment of Wages Yes, you can make payment arrangements with almost anyone to whom you owe money. In fact, they would probably prefer that to the giant pain in the ass garnishing wages can be. Companies, health care professionals and even the IRS are willing to set up a payment arrangement with …
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The correct answer to your question is yes. You also must pay taxes on the amount forgiven. If you have FFEL loans instead of direct loans you need to go on the "income-based" repayment plan to get this benefit. Note that 25 years means 300 full payments; All months spent in deferment of forbearance…
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You can refinance your mortgage as often as you like but it could become very costly. There are seasoning issues with some banks if you have not owned your property for atleast a year but after that you're good to go. I just refinance in January, however the cash I pull out was not enough, can i…
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Answer Nobody was fighting Japan in 1930. Japan attacked China in 1933. Then it attacked The United States, Great Britain, France, and Holland in December, 1941. Australia and New Zealand joined the war shortly thereafter. Michael Montagne
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The question not being more specific makes it a little difficult to answer. Nevertheless, if it is referring to attorneys taking bribes to manipulate the outcome of a case, then the answer is most definitely, NO ! However there always exception.If it pertains to a settlement for debt, then the answe…
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Answer Sound like someone filed a motion to life a stay, the other party did not oppose the motion, and the court granted it. A stay is an order stopping some action by another person or entity, or stopping the enforcement of a judicial or administrative order.
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Answer After being contacted by a collection agency you have thirty days to request confirmation of the debt. Their response should include the balance owed and the place where the debt was originally incurred.
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Answer It takes minimum 2 years to see an increase in your credit score but again it depends on the consistency of your payments to debts Answer There are three credit bureaus. Each of them can take anywhere to 1 or 6 months to update each of your accounts. All of them will be sporadic. …
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Answer You must first build business credit under the business name.
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Answer No. Once the party involved has informed the collector that they do not want them calling their place of employment the calls must end. Some collectors however simply will not listen and continue to break FDCPA laws. If this is the case the collection agency should be reported to the o…
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Answer They'll find you! Answer Check your credit report, chances are the collection agency name and address is lurking!
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Used Auto Financing Cars are no more an item of luxury. They have become more of a necessity nowadays. You wish to purchase a car but are short of money. You have explored the loan market and have realized that you actually can't afford buying a new car. What would you do in such a situation? Wil…
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No. People are not sent to jail for not paying their debts. A writ of judgment is granted when the plaintiff wins the lawsuit. The judgment can be enforced in several ways, pursuant tot he laws of the debtor's state of residency. The preferred form is wage garnishment or bank account levy. It can al…
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Answer Honestly, what makes a bigger difference are your credit scores. Naturally if you are in a debt management program, your credit scores will drop like a rock. So, it becomes very difficult to get another loan for anything. If your credit scores are already below 650, dont care much abou…
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Answer Not much, it is pursuant to the ruling of the judge if a BK stay is lifted. A relief of stay is generally granted to secured creditors, such as a mortgage holder on real property or lien holder on a vehicle. If it involves a chapter 13, the debtor should be certain all terms agreed upo…
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Minimizing WACC These sites provide great information on the topic of WACC: http://www.duke.edu/~charvey/Classes/ba350_1997/corp/corp.htm http://www.cbe.uidaho.edu/bus343/Spring03/Michele/2103CoC%20cwtr%20HO.ppt#258,4,Slide 4 http://cbdd.wsu.edu/kewlcontent/cdoutput/TR505r/page28.htm
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You can choose a debt reduction company like Freedom Debt Relief, who can negotiate with your banks to reduce your debt amount and one can become debt free in the least amount of time. I took their service which was very good. Answer I question the value of debt consolidation companies. I have a…
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Answers Yes there are...Whenever you go to consolidation before submitting your documents you need to inquire about the company and you can always see if a company is listed in BBB. Because there are some non-profit organization who say that we provide debt conosolidation for free but then they c…
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Answer It depends on how much debt you have, what interest rates this debt carries, what rate your 1st mortgage is at, if you are disciplined enough NOT to incure any more debt once a refinance has occurred. If you have a good interest rate on your home loan I would leave that where it is…
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Answer Unless you committed fraud, the answer under most circumstances, yes. If you pledged any collateral as security for the loan, the creditor's lien on the collateral would survive. The creditor would have 60 days after the meeting of creditors to file an action objecting to your discharg…
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Answer Depending on what lender you go to, you'll probably need a credit score of at least 540 if not higher. If debt consolidation loans are not a viable option for you, you may want to look into credit counseling services who can negotiate lower interest rates for you and can consolidate yo…
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Answer The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
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Debt Collectors Calling an Employee Yes. In fact, it is a violation of the federal Fair Debt Collection Practices Act for a debt collector to contact you at work if your employer disapproves and they are informed of this fact by you or your employer. You or the employee can tell the deb…
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Answer When you file for bankruptcy, you are protected by the "automatic stay" which prohibits creditors from taking action to collect the debt or from taking your property. In some cases, the creditor will ask the court for permission to continue efforts to collect the debt by requesting reli…
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Answer It depends on your contract. Most will take your payment then phone you. Please note that if you don't call first, you will get a "ding" on your credit report. The reason for this is that if they don't change your payment amount in the computer FIRST, then the when the credit reporting p…
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Answer Work out some sort of agreement very quickly with the other party. If you can't do that then perhaps your only option is to file bankruptcy very quickly. Filing bankruptcy legally puts a stop of wage garnishments. Filing bankruptcy stops all of your creditors' collection activi…
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The Greenduck Co. was based in Chicago. I was unaware they made varnish, but do know they made Fraternity Medals and such in the early 1900's ANSWER- THE GREEN DUCK METAL STAMPING CO. WAS LOCATED AT 1520 WEST MONTANA,CHICIGO ILLINOIS.I BELIEVE THAT IT WAS IN BUSINESS FROM 1906 UNTIL THE 1960`S OR…
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Answer If the depts are recently accured then you have the possibility of being sued for fraud if you file for chapter 7. Under chapter 13 you cannot be sued for fraud but will have to pay some of the money back for three years.
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Answer Yes. The debt will appear on the co-applicant's credit reports
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Whether or not a debt consolidation loan is a good idea will depend on your particular circumstances. Debt consolidation loans aren't really getting you out of debt, they're just consolidating your debt into one loan. If the monthly payments are lower, it's either because the interest is lower or t…
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Answer no you can not That answer is incorrect. Whether you can file a bankruptcy case and under which Chapter you can file needs to be evaluated under the terms of Bankruptcy code. Whether or not a particular debt is dischargeable needs to be evaluated under the terms of the Bankruptcy co…
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Answer How much debt consolidation costs you will largely depend on what type of debt consolidation you will be utilizing. If you’re going with a debt consolidation loan, the cost of your debt consolidation is usually covered in the interest rate you pay, and in the long run you’re actually…
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Answer If you’re thinking of consolidating your debt, but your interest rate is going to remain the same, you may want to think twice. The situation may or may not be feasible for you, and whether or not it is will depend on a number of factors. First you need to ask yourself why you’re con…
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Answer How long it takes to pay off your debt consolidation will depend on a number of factors. The first thing you need to look at is how much money you owe. If you owe tens of thousands of dollars, it will take you longer to pay off your debt than someone who just owes a few thousands. The hi…
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Answer If you’ve taken out a debt consolidation loan and you can’t afford your debt consolidation payment, the first thing you should do is contact a representative at the finance company who holds your debt consolidation loan. If you explain your circumstances clearly, they may be able to help…
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Answer Your business papers such as partnership agreements, joint venture agreements. Your income documents: W-2's, 1099 Misc income stmts, unemployment income, K-1's from S corporations or partnerships, royalty income, rental income, bank interest received, IRA distributions, and all other…
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Answer There are not laws that pertain to how long a debt is collectible or how long collection action can be taken. There are statute of limitations regarding the length of time a lawsuit can be filed against the debtor for the recovery of monies owed. States establish laws regulating SOL's …
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Best Answer Chosen If you're looking for a simple short answer it would be quite possibly however honestly in the world of consumer credit & loans everything depends on a professional review of your personal financial situation as any general answers may steer you off in the wrong direction o…
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Answer when you get consolodation loan the lender pays off all of the loans you want taken care of. for example you have 5 different loans that amount to a total of 25000.00. the lender that you are getting the consolodation loan from will pay each account in full in your name and you will have t…
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Answer Try to refinance at a lower rate if you can afford payments. With your credit score, you should be able to get something under 8%. If you can no longer afford payments, there are a couple of roads you can take: 1) Sell the car person-to-person for what you owe on it. Once you pay it …
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Answer No. Just send a copy of the death certificate to the creditors, they have to write it off. They may try to tell you that you have to pay, but you don't have to legally. The creditors do have the option of going after your father's assets/estate to pay the debt. Answer Any of his de…
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Answer Absolutely. It won't be hurt as badly as not paying, but your credit report usually shows a status that reads "pays as agreed." If you're paying less than the minimum amount due each month, you're not paying as agreed and your credit can get dinged.
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Since a credit score can depend on how many different accounts have outstanding balances, it's possible that debt consolidation can indeed improve your credit score. Debt consolidation has minimal effect on your credit. In most cases, you apply for a home refinance or debt consolidation loan and u…
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Answer You will not be able to cure this person. They have a serious illness. There is no point in living in that uncertainty. See a counsellor and start making plans to leave. You owe it to yourself to be happy. Answer I am yet another writer experienced in living with a manic depressive …
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YES, a service site like TAIWANEXPORTER.WEBS.COM can help you obtain any Taiwanese companies' key information such as Registered Capital and Annual Export Sales
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Answer You will need to pay it before they will institute service. Hopefully, it is a lower amount than a deposit would be. If you remember paying it, perhaps you can get a copy of the check from the bank. Make sure that they note that it has been paid if it is showing on your credit report.
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Answer Approximately 3 years ago Oprah Winfrey had this very subject on her program and we all know many Credit Card Companies do charge way too much interest but what I didn't know until I watch this program was the Credit Card Companies can lower the interest rate (it is the law) but of …
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Answer Yes. A lawsuit is still viable even if the debtor is actively participating in a debt repayment plan. It is unusual for a creditor to take such action however, as it is added expense and aggravation and often there is no certainty that a creditor would be able to execute a judgm…
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Answer they do all the time, go to ftc.gov read the laws that govern them and report the to the ftc and stop them
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Answer Go to the Federal Trade Commission's Web Site (www.ftc.gov)and look around the consumer section and you will find the answer your looking. That is what I do, I am a Financial planner etc and the ftc rights the laws for all of us. They will point you in the right direction free of ch…
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Answer If you are talking about collectors-- You can call your Attorney General in your state (http://www.naag.org/ag/full_ag_table.php) or Federal Trade Commission 877-FTC-HELP. Make sure you have as much information on the caller/company as possible when making your complaint.
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Answer You need to call the company that you are enrolled with and have your situation re-evaluated. Figure out what happened between the starting of the program and now, that has you still in a position of running behind. Being in this program and still going behind is not going to hel…
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Answer Yes, but neither a collection agency nor the original creditor has any legal obligation to communicate or accept the terms offered by a debt consolidation agency.
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Answer No, an employer is not allowed to give contact info to any one... Also, debt collecters are not allowed to contact someone's work place. They do it anyway, but if you tell them to stop contacting your work place, that they are putting you job in jeapordy, they will stop. If that doesn'…
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Ratio Analysis = Current Asset / Current Liabilities
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Answer There are two ways (pathways) that the blood clots. One is the intrinsic and the other is the extrinsic. There are clotting factors (about 13) that are unique to both pathways. The PT measures one pathway while the PTT measures the other. There are also factors that both pathways share o…
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Their own small print (at the bottom) says they are only a broker to other debt settlement companies, and infers that they sell your phone and email to others which would allow you to be spammed heavily.http://www.debtrescueusa.com/?aid=CD198&subid=CD14643
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I have been working with them since January 2009 when I retained their services for $3000.00 Since then I have gotten no help, no phones calls, no documetation to indicate my mortgage is in modification but I have received a foreclosure notice from my lender. I contacted Nationwide Foreclosure Rel…
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No you cannot. Court judgements, like tax obligations to the government, cannot be discharged in bankruptcy court.
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The answer to this question depends on the policies of the individual lender and the type and status of the bankruptcy. The majority of lenders want 24 months to have passed from the date of discharge of the bankruptcy before they will consider any mortgage loan. A chapter 7 BK is generally judged…
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NO!!! It is a scam do not fall for it. ------------------------------------------------------------------------------------------------- Ok, so I get this voicemail message from a guy who is speaking in a thick, broken Indian Accent (Obviously disguising his voice). He claims to be Ronnie Cooper fro…
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A timeshare is a consumer debt. A mortgage is a document that pledges a piece of real estate to the bank in the event the loan is not repaid. When you buy a timeshare, you do not actually have any rights to the physical property, even after you've paid your loan and all associated fees. You have sim…
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Rating agencies
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a debtor
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The international standard is called A4. It measures 8.27 inches by 11.7 inches. The North American standard is called "Letter." It measures 8.5 inches by 11 inches.
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Maryland bank national association .
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