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 worse.
No harm looking for a company that is BBB registered.
Look for unresolved complaints in the company's name.
Search the internet for the complaints that company has.
You can look up rippoffreport or...
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 simply prepaid a property owner
for the use of the property for a certain length of time. Another
way to think of a timeshare...
Hiring a Credit Repair Company
Here 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 repair companies also must give you a written contract that
spells out your rights and obligations. Read these documents before
signing the contract. The law contains specific protections for
you. For example,...
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 you. However, to be sure you don't miss a payment
and force the creditor to "call" the whole amount (try to force you
to pay in full), they may ask for...
If you are living paycheck to paycheck, worried about debt collectors, or can't seem to develop a workable budget, you may be considering a consumer credit counseling service. Your creditors may be willing to accept reduced payments if you enter a debt repayment plan with a reputable credit counseling service. Choosing whether or not to use one of these services and choosing which agency to work with can be difficult, so here are some tips...
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 while you're
participating in the program. A successful repayment plan requires
you to make regular, timely payments, and could take 48 months or
longer to complete. Ask the...
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 raise a defense would have been
right after the motion was filed by obtaining a hearing date and
opposing the motion. The creditor is not required...
Credit card consolidation allows you to make just one payment to
the consolidator, instead of numerous smaller payments to many
Be cautious of credit card consolidation and other debt
consolidation plans. These plans are not always the best option for
your overall financial health. The consolidators may promise to
lower your monthly payments; however, this action will extend the
length of time it will take to pay off all your debts and
ultimately you may pay more in finance charges.
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 debt. If the creditor does not
validate the debt in 30 days the credit reporting bureau is
required to remove it. Once it...
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 DO NOT COUNT toward the 25
Federal Direct Loans offers this option. Unfortunately, I don't
know whether the borrower must pay taxes on the balance remaining
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, Certified Turnaround
Professional, Managing Director. NachmanHaysBrownstein, Inc., "A
Team of Leaders" 822 Montgomery Avenue Narberth, Pennsylvania
610-660-0060 fax 610-664-7298 cell 215-527-8950 email:
The credit card business...
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 doing a much smaller
balance and therefore really have no negotiating power. I work for
a company that does this and depending on your credit can...
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
forwards it to attorneys who specialize in this type of
Here are more opinions and answers from other FAQ Farmers:
Yes, at least in my case where your identity...
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 came across one company which helped me out
to reduce my debt to 60%.
It offered a variety of Christian consolidation programs and
information for federal and private...
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 answer would
be yes, although it is not the attorney who receives the settlement
amount it is the creditor who is owed the debt.
It depends on what you define as...
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 from Affidavit Consolidation
Services. A complete transcript of his message follows:
- Note- the # symbol is in place of my name "This message is for
#### ####. this is Ronnie Cooper from ACS. #### The reason of my
call to make you...
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
Whether or not a particular debt is dischargeable needs to be
evaluated under the terms of the Bankruptcy code.
Consult an attorney. This is serious business. Do not rely on
answers by unidentified people without information about their
credentials or the basis of their opinion. That goes for people you
meet at cocktail...
The Greenduck Co. was based in Chicago. I was unaware they made
varnish, but do know they made Fraternity Medals and such in the
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 EARLY 70`S.THEY MADE ELECTION PINS ALSO
SPOONS FOR THE CENTURY OF PROGRESS, PROBABLY OTHER ITEMS ALSO,BUT
THEY WERE A METAL STAMPING COMPANY SO I DO NOT BELIEVE THAT THEY
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 more harshly than a
chapter 13. What some bankrupty filers forget is that their credit
performance after the BK will be very important. New credit must be
Depending on what this question is really asking, one obvious
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.