Credit Repairs Blog » debt

Vampire Robot Nazis Strike Back!

Alex Smith — Tue, 13 Jul 2010 22:18:31 +0000

www.phillyd.tv Mhm Jessica Simpson www.tmz.com Get out of Debt Now!: www.phillyd.tv Total Recall Machine: www.crunchgear.com superbad Video: www.phillyd.tv www.stumpmonk.com Contest Details 1. Make a video doing the best monkey sound you can. 2. Email the Video URL to services@stumpmonk.com 3. The video with the most views by the 16th, will receive a free ipod Touch.

Can I get a debt consolidation loan with bad credit?

Alex Smith — Fri, 02 Jul 2010 09:37:36 +0000

I would like to get a debt consolidation loan for my outstanding debt from closed credit cards, old utility bills, etc

I have student loans, but I would like to consolidate them separatley and not through another loan.

Also, I have an auto loan, would the loan be able to cover that as well?

Please, real answers, and no opinions/judgements.

Thank You.

What is the best debt counseling company?

Alex Smith — Wed, 05 May 2010 11:36:17 +0000

What is the best debt counseling company?

I’m trying to help my friend get out of massive credit card debt. I need a good, reliable debt counseling company.

Which Debt Can be Settled?

Alex Smith — Tue, 30 Mar 2010 11:45:32 +0000

We receive many questions regarding debt settlement and specially inquiries as to whether certain debts can be settled or not. This is an important issue as not all debts can be settled with regular debt repair agencies. And thus, prior to hiring the services of such agencies you need to make sure that your particular debts are suitable for settlement or else you would be just wasting money. Under the right circumstances all debt can be settled, but debt repair agencies deal only with certain types of debt. Following is a short description of the different types of debt that qualify for a debt elimination process through an agency and those debt types that do not qualify for regular debt elimination processes and need different solutions in order to be cancelled or erased. Debt Types That Qualify For Debt Settlement The first type of debt that we will briefly explain is credit card debt. Credit card debt is in most cases unsecured debt that features high interest rates compared to other form of debts. Thus, it is extremely important to include this kind of debt in any debt settlement program. Credit card debt certainly qualifies for this type of debt aid due to its unsecured nature and the repayment flexibility it presents. The same goes to store card debt. Just like credit card debt, store card debt is unsecured debt and usually charges higher interest rates than credit card debt and personal loans. Thus, it should also be included into a debt aid program. Personal loans, if unsecured can also qualify for debt settlement. This is due to the fact that if the lender refuses to negotiate, he would have to undertake long legal processes to recover the money and he would also be forced to negotiate prior and during the process with costly legal fees. Of course, this applies to unsecured personal loans only and not secured loans. Different bills, like hospital bills and other services’ bills can also be included in a debt elimination program. They are usually included because the debt is unsecured and because the creditor has less negotiating power than banks and other big companies. Thus, it is easier for a negotiator to convince the creditor that he should accept the deal or he might lose the chances of getting any money back at all. Debt Types That Do Not Qualify For Debt Settlement There are other debt types that cannot be settled. These debts include: student loans which can be consolidated, waived or forgiven but never settled. The only exceptions are certain private student loans which are not subsidized by the government or a private non-profit institution and thus are subject to the rules of any personal unsecured loan. Mortgage loans and home equity loans are guaranteed by a property or the equity on that property and thus are not subject to negotiation because the lender can always resort to request the foreclosure of the property and claim all the money owed. The solution for these debts is refinancing which can modify the terms of the secured debt while keeping the security in place. Car loans which are secured on the car are just like mortgage loans, and with only a few differences, are tied to the same rules. Just like mortgage loans, car loans can be refinanced or fully paid off with the aid of a mortgage or home equity loan. Thus, to solve a debt problem derived from a car loan your main options are debt consolidation and refinancing. Finally, tax debts can not be settled either. There are some circumstances in which under special hardship, a debt can be forgiven by the government agency. However, these are very special situations with complex requirements. And often, they imply that the debtor has to resort to extreme measures like filing for bankruptcy.

$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?

Alex Smith — Wed, 17 Mar 2010 16:47:08 +0000

Simple Steps to Debt Free Life

Alex Smith — Mon, 08 Mar 2010 07:15:20 +0000

Living a debt free life is no longer a dream. You can attain a debt free lifestyle by following a systematic strategy. Below are some simple and cost- effective steps which can help you to become debt free.Prioritize your debts: The first step is to prioritize your debts. You need to make a list of your debts that you need to pay off first. You can begin with debts having high rate of interest and pay the less importance ones later.Minimal usage of credit cards: Next is to minimize the usage of your credit cards. Do not fall into “Buy Now, Pay Later” schemes. This will only add to your debts. Limit the usage of your credit cards and use it to pay necessary utility bills like gas, electricity and water.Follow a realistic plan: Structure a realistic budget that you can follow. Classify your expenses into needs, wants and not needed categories. This will help you to understand which ones you should purchase first. It is better if you put down your expenses to compare your income and liabilitiesTake a professional help: Understand your debt problems and go for professional help. A debt counseling firm will help you to structure a repayment plan. You can follow this plan to pay off your debts. They also give you advice on various aspects of money management and help you maintain a financial budget.Select a strategy plan: Choose a strategy to pay off your debts and stop availing new lines of credit. You can do this by availing a debt management program. You should go for the one which will suit your financial needs.Negotiate with your creditors: Approach your creditors and let them know in writing that you are facing problems in paying off your debts. They may be willing to negotiate the rate of interest and lower your monthly payments.Assess your financial situation: Make of list of the following 1. Names of your creditors2. Amount that you owe to your creditors3. Monthly payments 4. Type of loan 5. The rate of interest that you are charged with.Admit the fact: Accept the fact that you are in debt. If you ignore the problem at initial level it can become worse later.Pay your bills: Try to make your payments on time. This will relieve you from the burden of unpaid bills.All these will give you clear picture about your financial situation. Though you cannot become debt free overnight, yet you can eliminate your debts to some extent.

debt consolidation?

Alex Smith — Mon, 01 Feb 2010 10:27:28 +0000

Hello all, I have a question regarding debt consolidation. I have about 15k worth of debt and have tried applying to two companies for a debt consolidation loan and was denied both times. I thought about trying what one of the other posters suggested , writing to the individual companies threating a voluntary bankruptcy order. I have about 10k in the bank, but I don’t want to borrow from that lender because I wouldn’t be able to use the money in my account. My credit is only good. What other options do I have? Thanks