Debt Relief

I am 23 with a nine-month-old son, and I owe (on top of my student loans from college) approximately $30,000 in credit card debt. I am looking to do a debt management/consolidation program, but was wondering if I should just contact those credit card companies that say to call them if I have "financial difficulties" instead? Also, which debt consolidation programs would you refer, if any? Thank you!

I’d do a lot of research before you enter into a contract with a CCCS because while it might get the bills paid - it will not protect your credit score or rating any better than dealing with it yourself. You don’t state what your income is and if buckling down and paying more each month on your cards would get it paid off. I had $40k of debt, $30k being CC debt and drowning in it having been through a messy, expensive divorce. When my attorney did the calculations, he figured it would have taken me 40 years to pay off the $30k of CC debt at the rate I was going.

So I wound up filing a Chapter 7 BK and it wiped out 100% of the CC debt legally in about 3-4 month’s time (from the date of filing until discharge date).

The other $10k was a car loan, which I continued to pay on ‘as agreed’, did NOT reaffirm the loan, and they did not come and take my car. I paid it off back in April and now it has a clean title.

No ~~~BK is not for everyone, but it sounds like you have a lot of debt and a little one to take care and his future to think of. And while going through a BK will trash your credit/score, it’s no more so than muddling through years of dealing with collection agencies, some CCCS that will likely "fail" you.. and creditors that will STILL report you even those you are in a payment plan. Or you can wipe out the debt legally through a chapter 7, start fresh and be able to SLEEP at night.

You can get a free consult with most any BK lawyer and he or she will go over all of your debts, your income and help you decide the best course of action.

I have BEEN THERE and done it and this is not an "ad" for anything,but a testimonial. While it wasn’t something I really wanted to do .. BK was the best solution for me during a really tough time in my life. I am not sorry I did it.

Hope this helps. Ignore the jerks that can’t even give sensible or helpful answers and just bash you. It’s clear they’ve never walked in your shoes.

A bill that was disputed and the company agreed to right off is now after four years of hearing nothing being chased and we are being threatened with it being passed to a debt company. We recently updated our account which we have had since the dispute and I think this old debt has suddenly appeared through that. Can they chase a debt which they have not chased in four years

Forever. After 4 years it should already be in collections. Oh - yeah.

1. Fighting for Economic Justice and Security in the U.S. and Global Economies
•To uphold the right to universal access to affordable, high quality health care for all.

•To preserve guaranteed Social Security benefits for all Americans, protect private pensions, and require corporate accountability.

•To invest in America and create new jobs in the U.S. by building more affordable housing, re-building America’s schools and physical infrastructure, cleaning up our environment, and improving homeland security.

•To export more American products and not more American jobs and demand fair trade.

•To reaffirm freedom of association and enforce the right to organize.

•To ensure working families can live above the poverty line and with dignity by raising and indexing the minimum wage.

2. Protecting and Preserving Civil Rights and Civil Liberties
•To sunset expiring provisions of the Patriot Act and bring remaining provisions into line with the U. S. Constitution.

•To protect the personal privacy of all Americans from unbridled police powers and unchecked government intrusion.

•To extend the Voting Rights Act and reform our electoral processes.

•To fight corporate consolidation of the media and ensure opportunity for all voices to be heard.

•To ensure enforcement of all legal rights in the workplace.

•To eliminate all forms of discrimination based upon color, race, religion, gender, creed, disability, or sexual orientation.

Promoting Global Peace and Security
•To honor and help our overburdened international public servants – both military and civilian.

•To bring U. S. troops home from Iraq as soon as possible.

•To re-build U.S. alliances around the world, restore international respect for American power and influence, and reaffirm our nation’s constructive engagement in the United Nations and other multilateral organizations.

•To enhance international cooperation to reduce the threats posed by nuclear proliferation and weapons of mass destruction.

•To increase efforts to combat hunger and the scourge of HIV/AIDS, tuberculosis, malaria, and other infectious diseases.

•To encourage debt relief for poor countries and support efforts to reach the UN’s Millennium Goals for Developing Countries.

Environmental Protection & Energy Independence
•To free ourselves and our economy from dependence upon imported oil and shift to growing reliance upon renewable energy supplies and technologies, thus creating at least three million new jobs, cleansing our environment, and enhancing our nation’s security.

•To free ourselves and our economy from dependence upon imported oil and shift to growing reliance upon renewable energy supplies and technologies, thus creating at least three million new jobs, cleansing our environment, and enhancing our nation’s security.

•To change incentives in federal tax, procurement, and appropriation policies to:

(A.) Speed commercialization of solar, biomass, and wind power generation, while encouraging state and local policy innovation to link clean energy and job creation;

(B.) Convert domestic assembly lines to manufacture highly efficient vehicles, enhance global competitiveness of U.S. auto industry, and expand consumer choice;

(C.) Increase investment in construction of “green buildings” and more energy-efficient homes and workplaces;

(D.) Link higher energy efficiency standards in appliances to consumer and manufacturing incentives that increase demand for new durable goods and increase investment in U.S. factories;

•To eliminate environmental threat posed by global warming and ensuring that America does our part to advance an effective global problem-solving approach.

•To expand energy-efficient transportation choices by increasing investment in synthesized networks, including bicycle, local bus and rail transit, regional high-speed rail and magnetic levitation rail projects.

•To preserve prudent public interest regulations that encourage sustainable growth and investment, ensure energy diversity and system reliability, protect workers and the environment, reward consumer conservation, and support an expanding marketplace that rewards the commercialization of energy-efficient technologies.

•To protect, preserve, restore, and where reasonably possible expand wild lands and animal and plant populations endangered by human activity, reasonably compensating businesses and homeowners for damages or losses incurred by such.

Abortion Rights and Legal Reductions
•Codify the 1973 Supreme Court Ruling on Roe vs Wade by passing HR 5151 — the Freedom of Choice Act.
•Pass legislation and encourage community leadership to, among other acts: Increase funding to child placement services (foster care agencies); increase funding for comprehensive sex education programs that are proven to reduce the number of unwanted pregnancies; increase awareness of the protective benefits of proper use of contraceptives, and increa

Green Party look likes the better one according to this issues.

Look at the political compass to see more : http://www.politicalcompass.org/

Etes-vous Français ?

If someone asked you to sign up for something called a DEBT card, would you have signed it? The term credit card just sounds like it’s doing you a wonderful favor. We all want to be trusted with credit. Having a credit card is wonderful, using it is another story.

The banks are estatic that you took their offer for credit and are using it but you know that you didn’t really use it wisely. Swiping the card made it so much easier to "afford" things you could not afford. That’s how you got into the condition you’re in.

Beating yourself up isn’t going to cure the problem so it’s important right now to set some goals, make them realistic, and focus on achieving the goals. The first goal should be to become debt-free. You’ll never have full access to today or tomorrow’s money by paying for yesterday’s purchases. Surely you’ve read that it takes x number of years to pay x number of dollars at x interest rate. Who said high school algebra would never come in handy???

I don’t know so much about the term "get rid of" when it comes to debt. You can get rid of credit cards with bankruptcy or with debt settlement but that will also get rid of reputation for being credit worthy and not just for the amount on your credit report. What you’re not told is that the question, "have you EVER filed bankruptcy?" can afford employment, interest rates, insurance rates, housing options and more for the rest of your life. So, bankruptcy and/or debt settlement are options… but not good ones.

You can consider a debt management program like one offered by Consumer Credit Counseling (check out http://www.nfcc.org for legitimate services like CCCS that work in your area). There are pros and cons to a voluntary program for debt management. You will cut up your credit cards and your credit is frozen. You will make one monthly payment. The interest rates in some cases (not all) will be reduced. You will be debt-free in 3-5 years.

The most logical and beneficial plan to "get rid of" credit cards is to pay them. Write a budget that you can stick to. Consider ways to reduce expenses and increase income. Vow to repay those debts $1 at a time until you owe nothing but in the meanwhile don’t bury yourself in adding more debt. It’s time to seriously tackle your problems.

How important is your reputation? What are your future goals for your finances? It is necessary to have a plan and stick to the plan. You’ve got to focus on needs instead of wants.

Eat at home. Scale back on cable. Trade a cell plan for prepaid. Sell things on Ebay. Build an emergency fund. Raise insurance deductibles. Turn off unnecessary electric. Use the library. Shop by value instead of price. There are many tips out there in books and magazine articles to help you get more for your help.

Your problems are not going to go away without your help. Focus. What’s most important to you? Think of the future. Consider losing income or having health issues. Be more financially savvy. Stop dreaming and start doing.

Millions of people were in your situation … or worse. Check out the tv show and books by Dave Ramsey for time-tested solutions.

I am looking for an existing Debt Collecting Agencies to help me settle my uncollected account payable from my debtor that refuses to pay. Please help me. Thank you so much.

such agencies practically don’t exist in the Philippines, not in the provinces. what usually happens is you try to collect on your own and after so many demand letters your creditors still refuse to pay, you enlist the service of a lawyer (usually expensive) and sue them.

It is apparent that she’s not getting any help from obama despite their dramatic presentation of helping one another including settling her debt. I’m impressed how the rookie Senator with no experience can get away with this against a Clinton.

I heard 35 million left… she will give Obama some head and clear the debt

Why do you TRY to spend more money than you earn.
If you earn £400 a week you can NOT spend £405 a week

What a dumb question, if even the smallest and basic house costs 45,000GBP then what are you going to do ? live in a cardboard box until your 405GBP amounts to 45,000GBP… think of something more constructive to ask nextime…

I need the name of a credit debt relief organization to help me that is independent of all the banks & card companies. A nonprofit type agency.
Thank you for your help.
JaQuan Nuby

You should try Consumer Credit Counseling Services. They are national organization that has been around since 1958. They are the largest nonprofit, full-service credit counseling agency in the United States.

They have a debt management plan through Money Management International. http://www.moneymanagement.org/.

To get set up, you will have an in person interview where you talk about your situation.

They are respected (even Suze Orman likes them) and offer debt solutions at fairly reasonable rates and are not attached to any bank or credit card companies.

I am married and have two kids. We both work. I work an extra job just to make ends meet. We make good money. But we have so much credit card debt that I do not know what to do. We have a house but it does not have much equity in it due to we just built it several years ago.

If you can manage it, the best thing to do is reduce your spending across the board. Use the credit cards less and try to reduce spending on other expenses (eating out, gas bill, electricity, etc.) too.

You should also pay off as much of the credit card debt as you can every month. If you can transfer balances, transfer as many of the balances as you can to your lowest interest rate credit cards. If you can do this and have no balance on several of your cards, great!

Just remember not to cancel the credit cards though. If you’d like to improve your credit score, one measurement they use is your total credit card debt versus your total credit limit. If you cancel cards, your total limit goes down and the debt to credit limit ratio for you will get worse.

If worst comes to worst you can always look for credit card debt relief. There are companies out there that will basically give you a loan which pays off all of the credit card companies. Look for government agencies first, non-profit debt relief second, and private debt relief companies as a last resort.

Hope that helps and best of luck!

My wife and I are really struggling with our credit card debt and
two car payments. We are falling behind further and further. One of our friends suggested that we go to a debt counselor to try to lower our monthly payments and combine some of our bills. Where do I find a local debt settlement counselor in my area?

Find the local Consumer Credit Counseling agency. It’s a nonprofit set up to handle problems like yours. You should not have to pay a huge fee to get help. Go now!

Here’s a page from their web site:

"What We Do

For 44 years, families have turned to Consumer Credit Counseling Service of Greater Atlanta for help with money problems. CCCS is a non-profit, community service agency dedicated to empowering consumers to achieve a lifetime of economic freedom. A United Way partner and a member of the National Foundation for Credit Counseling (NFCC), CCCS provides confidential budget counseling, money management education, debt management programs, bankruptcy counseling and education, and comprehensive housing counseling.

CCCS Atlanta is the headquarters for the CredAbility Network, a family of agencies serving consumers in North Georgia, South Florida, Central Mississippi and East Tennessee as well as nationally via telephone and Internet.

We are dedicated to seeing you succeed."

Of course, this is in Atlanta and FLA, but there are affiliations all over the country. Good luck!