Question: I sold a company in 2002 and told the vendor to change all accounts over to the new owners.?

In 2007, one of the vendors contacted me via their attorney that a debt to my old company name had gone unpaid and because I had signed a guaratee on the account in 1995 I was liable. I sent them documents showing the bill of sale, assumed name certificates of the new owners, a copy of the letter closing my account. I also requested the guarantee that I signed as well as their unpaid invoices, and other documents where they had sold equipment to the new owner (without my signature). Several months went by and they sent me nothing and filed a lawsuit against me in their home county 125 miles away. The debt is $4000 and any lawyer I spoke to said his fee would far exceed that amount to defend it. I believe this is their game, hope I will pay it rather than fight. If anyone knows business credit collection laws in Texas please advise me as to what sections of the statutes they are violating. I intend to defend myself in the courtroom and need all the help I can get.
Thanks

Answer: Do you have proof you told them to close the account? That should absolve you of any liability for the charges. Show up in court with those and you should be good.

Your problem? If you don’t have some sort of receipt or acknowledgment, they can always claim they didn’t receive the letter closing the account. In that case you might need all the paperwork you can muster, proof of the sale, perhaps other letters to other vendors WITH acknowledgment, anything at all that establishes that you were no longer involved with the company beyond 2002.

Service Corporation International Announces Second Quarter 2010 Financial Results and Increases Cash Flow Outlook for …

Service Corporation International , the largest provider of deathcare products and services in North America, today reported results for the second quarter 2010. Â Our unaudited condensed consolidated financial statements can be found at the end of this press release. Â The table below summarizes our key financial results:

Bad Business = Good Business For Debt Collectors

Texas Laws Debt Collection is a post from: Debt Help Services

Related posts

• Writing Debt Collection Letter
• Sued Debt Collection
• Statute Of Limitation Debt Collection
• Small Debt Collection
• Small Claims Court Debt Collection
• Sample Letter Debt Collection
• Sample Debt Collection Letter

Firefighters Criticize Comptroller’s Report

Erie County Comptroller Mark Poloncarz’s report on the costs of fire protection in the county, released in mid-June, was met with vocal criticism from many firefighters from around the area. Last week, firefighters had the opportunity to hear directly from Poloncarz at a meeting in Elma, and to share their own criticism, questions and concerns about the report.

EEP100 – Lecture 25

Protocol Debt Collection is a post from: Debt Help Services

Related posts

• Writing Debt Collection Letter
• Wiki Debt Collection
• West Asset Debt Collection
• Viking Debt Collection Phone Number
• Verizon Wireless Debt Collection
• Van Ru Debt Collection
• Utilities Debt Collection

Question: I am engaged! What should I know about marriage?

My fiance is 22, and I am 25. We both accumulated some debts from our college years at Columbia. We are also looking on buying a Steinway grand piano as we are both heavily involved in music. My fiance is planning on going to Officer Training School and join the military as an officer.

Answer: First of all, congratulations on your engagement.

I’ll address your questions in the order that you posed them. Let’s start with your financial/debt problems. My advice would be to set aside your monthly payment for loan repayment plus $100, just in case you run into problems next month. Your husband is joining the military, and there’s a good chance that they may assist him with repaying the loans.

As for your piano, you need to remember that Steinways, while arguably the best, are the most expensive. I would look into a used baby grand, and I would not spend any more than $20,000. Try to get a plan that will let you pay for your piano over a period of 5-10 years. Be picky!

As for living on base, it’s great since you can connect with other women whose husbands are in the military. The only bad thing is that they have all these ridiculous lawn mowing, gardening, and maintenance requirements. But other than that, I think living on base is awesome: you get tax free shopping and there’s always some community event.

Sex is important in any relationship. For new couples, I think having sex at least once a day is vital to making a marriage survive romantically. As for kids, use condoms until you’re ready to have them (I would wait at least a few years).

Make sure that you watch your money! Money can make or break a marriage.

Good luck!

Carlyle Said to Seek $1 Billion From Philosophy Sale

Carlyle Group is seeking about $1 billion in a sale of skin-care company Philosophy Inc., three years after acquiring the maker of “Hope in a Jar” moisturizer for half that amount, said three people with knowledge of the plan.

Dave Ramsey, “Debt Snowball” Money Makeover – 3/10

Christian Debt Management Plan is a post from: Debt Help Services

Related posts

• Utilities Debt Collection
• Uk Debt Management
• Uk Debt Interest Payments
• Uk Debt Consolidation
• Singapore Debt Consolidation
• Jobs Debt Management
• Is Debt Management Good

Question: I received a1099-c cancellation of debt. I have already filed my return. Do I need to amend this return?

The cancellation of debt is well over $600 dollars. Is this considered taxable income? Will I need to redo my tax return to include the money amount?

Answer: Yes you should amend your return ASAP. The 1099-C can only mean additional tax. That would mean that you are likely to owe interest if you don’t get the return amended before the filing date of April 15.

Centene Corporation Reports 2010 Second Quarter Earnings

Centene Corporation today announced net earnings from continuing operations for the quarter ended June 30, 2010, of $23.0 million, or $0.45 per diluted share. Â The discussions below, with the exception of cash flow information, are in the context of continuing operations and all financial ratios exclude premium taxes.

Tax Relief for Foreclosed Homeowners – IRS Cancellation of Debt Income

Cancellation Of Debt Taxes is a post from: Debt Help Services

Related posts

• Need Debt Relief
• Debt Settlement Video
• Security Debt Settlement
• Priority Debt Settlement
• Irs Debt Collection
• Installment Debt
• How To Settle Debt With Irs

Debt Payment Worksheet is a post from: Debt Help Services

Related posts

• Us Debt Relief Reviews
• Today Matters Debt Relief
• Self Debt Management Plan
• Paying Off Debt Strategy
• Management Debt
• Jobs Debt Management
• Free Debt Repayment Spreadsheet

Question: Will I still be able to get a mortgage loan?

In July I was pre-approved for an FHA loan of 130K in Minnesota (which is more house than I need, I was looking mostly at homes around 115K). I decided to wait until this spring to pay off some credit card debt before buying. Now I’m worried that I won’t be able to get a loan. I’m in Moorhead Minnesota and the housing market hasn’t tanked here, my credit is not perfect but is above average. So how bad is it out there now and how bad will it get before April when my current lease is up.

Answer: If you have steady employment and you keep your credit up, you will still be able to qualify. Nobody knows what new things will happen between now and April, but that shouldn’t change. The one thing that seems to have changed with FHA loans is that they are requiring a little bit more down – I think 3.5% instead of 3% down payment. I don’t think that will jump too much more, if any, but you may want to start saving as much as you can now so that when April comes, you can put down a little more if necessary.

They are also changing laws regarding down payment assistance, so you may need to look a bit harder for those types of programs when the time comes, if you do need some assistance with closing costs and down payments.

Why a Smart Consumer Is a Bad Credit Card Customer

And how you can be punished for responsible behavior: In some cases, credit card issuers have rejected applicants who have credit scores that are too good (sometimes over 800). Why? Because these consumers typically pay bills in full and on time, they’re unlikely to make the credit card companies much money. In light of new [...]

Debt Consolidation can lower your monthly credit card debt payments

Credit Card Debt Minnesota is a post from: Debt Help Services

Related posts

• Credit Card Debt Bad
• Credit Card Debt Uk
• Credit Card Debt Suze Orman
• Credit Card Debt Sued
• Credit Card Debt Relief Nonprofit
• Credit Card Debt Outstanding
• Credit Card Debt Negotiation Tips

Question: Do I need to sign my letter of dispute to the debt collection agency?

I found several sample letter to dispute an alleged debt by a collection agency. However, I found one sample that advised not to sign the letter; it says that a collection agency may forge your signature on other documents that I have never seen. Now I am afraid to sign but, if I don’t will the letter still be valid?

Answer: NEVER sign a DV letter to a Collection Agency!!! (Debt Validation)

You do want to send the letter CMRRR (certified mail, return receipt requested)

Keep a copy of the letter for your records & all receipts from the Post Office regarding this, including green signature card when it is returned.

Reminder Debt Collection Letter

Sample Letter Debt Collection is a post from: Debt Help Services

Related posts

• Letter Debt Collection
• Sample Debt Collection Letter
• Disputing Debt Collection
• Debt Collections Letter
• Debt Collection Letter Sample
• Debt Collection Letter Templates
• Debt Collection Dispute Letter

Question: I would like some advice. I signed up with a debt settlement company over a year ago and now i’m being sued by?

one creditor after another and I’m falling further and further under. What can I do to resolve this matter?

Answer: debt settlement companies pressure your creditors to settle by not paying your bills. They don’t do anything that you can’t do yourself. I am sure that your realize this by now but you should avoid debt settlement companies.

Your only option at this point is to show up in court so you can try to negotiate a payment plan with the creditors. The judge may approve it. Otherwise you will be at the mercy of the creditors. They will be able to garnish wages, freeze checking, place liens…

Or you could file bankruptcy.

The Misperception of Credit Card Debt Relief and How Consumers Are Getting Out of Debt

LOS ANGELES, CA–(Marketwire – 07/24/10) – It’s hard not to notice all the advertisements and promotions for debt relief . Whether it is on TV, radio, newspaper, or the internet, there’s some company promising freedom from credit card debt and other various unsecured debts. The problem is none of these ads inform consumers how the program works. The main forms of debt relief available and how …

Martin Lewis- Debt advice

Debt Settlement Advice is a post from: Debt Help Services

Related posts

• Debt Settlement Good
• Non-profit Debt Settlement
• Letter Debt Settlement
• Debt Settlement Tips
• Debt Settlement Solutions
• Debt Settlement Services
• Debt Settlement Relief

Dubai Sukuk Wins Investor Confidence as Debt Accord Nears: Islamic Finance

Islamic bonds in Dubai are set to extend this year’s rally as Dubai World predicted it will complete debt restructuring in the “coming months,” said Unicorn Investment Bank BSC and Emirates NBD Asset Management.

Daniel J. Mitchell – USA: Drowning In Debt?

Global Debt Management Services is a post from: Debt Help Services

Related posts

• Professional Debt Management
• Forum Debt Services
• Debt Services Group
• Debt Recovery Services Uk
• Debt Management Services Phone Calls
• Debt Management Services
• Debt Free America Financial Services

Smoking Guns of U.S. Tresury Monetization

Use the above link to subscribe to the paid research reports, which include coverage of several smallcap companies positioned to rise during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces.

Total debt elimination fast

The Total Debt Elimination System is a post from: Debt Help Services

Related posts

• Federal Debt Relief System 2009
• Zero Balance Debt Management
• Wv Debt Collection Laws
• Writing Debt Settlement Letters
• Writing Debt Collection Letter
• Worst Debt Relief Companies
• Worst Debt Management Companies

Question: I’ve heard of student loan forgiveness programs. Are there any credit card forgiveness programs out there?

My husband and I are literally drowning in debt. There’s no way we can file bankruptcy or do any of that consolidation stuff. He has a federal job and would pretty much lose his job immediately. We have found relief from his student loans by filling out a form and getting his payments cut in half for a year. Are there any sort of programs in existence that will help out with credit card debt? We have Discover, Chase, Citi, and Bank of America accounts. We have already cut up the cards and do not plan on using them ever again. We tried to get a loan to consolidate the debt into one payment and our credit isn’t good enough to do that either. Any suggestions?
Yes, my husband has to maintain a very high security clearance. This is why he can’t let his credit go bad.

Answer: in my opinion you can contact the company or the bank you two borrow the money and freeze the accounts in that way they will give you chance to pay small amount of loan every month for example: ( you pay £150.00 per month they will reduced too £60.00 per month.) and your interest will not arise this is before or the last step of bankruptcy. try it is worth it . there is nothing who willing to help without their own interest. the best is to talk to one of financial adviser from were you got the loan.
good luck to you two.

Ratings agencies threaten Hungary with downgrade

Two top ratings agencies said on Friday they might downgrade Hungary’s sovereign debt after its prime minister snubbed the IMF and rejected austerity measures in favor of a pro-growth policy.

Loan Modification – Part 2: Home Mortgage Bailout – Real Estate Foreclosure Prevention Process

Bank America Debt Consolidation Program is a post from: Debt Help Services

Related posts

• Bank Of America Debt Consolidation Loans
• Consolidate Debt Bank Of America
• Bank Of America Debt Consolidation
• Va Debt Management Center
• Us Gov Debt Consolidation
• Ucc Debt Collection
• Smooth Debt Management

Question: Pay off high interest or lowest balance first?

I’ve heard a lot of conflicting information regarding paying off credit card debt. Is is easiest to get credit card debt paid off faster by paying off your highest interest credit cards first, or your lowest balances first?

Curious to know if anyone has tried either of these methods and how it worked for you?

Answer: I would agree with the first answerer when he says that mathematically, it makes sense to pay of the highest interest first. However, math doesn’t always work. Getting out of debt is more about psychology and behavior rather than math. Paying off smaller accounts first creates mental momentum. Getting a quick success makes you hungry for more. Plus it frees up monthly money which you can roll over onto bigger accounts.

‘This Week’ Transcript: Geithner

Transcript of ‘This Week’ interview with Treasury Secretary Timothy Geithner United States Secretary of the Treasury – Timothy Geithner – Government – United States – Finance

Reducing Credit Card Debt Using The Snowball Method

How To Pay Debt Faster is a post from: Debt Help Services

Related posts

• Maine Debt Consolidation
• Debt Consolidation Portland
• Debt Consolidation Help
• Debt Consolidation Bad Credit
• Debt Consolidation And Bad Credit
• Debt Consolidation
• Consolidation Debt

Question: What happens if you send a scavenger debt collector money?

I know it’s a huge mistake, but my boyfriend… in a not-so-smart move, sent a scavenger debt person $200 because he got scared when he read the word “sue” in the stupid letter. Instead of consulting anyone about it, he sent the money and they cashed the check. He’s talking to a lawyer next week, but what happens if you send them money? Does it reactivate anything? Do these firms have the ability to report to credit bureaus? This was regarding a debt he owed back in 1997 in California. We live in Iowa now.

Answer: The Statutes for Iowa are as follows:
Open account: 5 years from last charge, payment, or admission of debt in writing.

So in effect, he has restarted the time clock on this debt. He could have just thrown it away as they had no legal recourse and could not have sued him.
Was this payment a settlement payment or just a single payment to hold them off. No matter what, they can now take civil action in court to collect the full amount including legal fees.

HOWEVER, this will not reset the SOL for reporting on his credit report as per:
Running of Reporting Period – Section 605 [15 U.S.C. § 1681c]
As of December 29, 1997 the reporting period runs 7 ½ years (7 years plus 180 days) from the date (month and year) of the last delinquency (known as “last missed payment:).
So, regardless of how long a creditor waits to charge off, sell or transfer a debt, they must report the true and correct “delinquent or last missed payment” date (month and year) that preceded the creditor’s action.

Use the following link to see if the so called Law Firm is truly legit, many debt collectors use bogus letterheads or pay a lawyer for the use of his letterhead. If it is a bogus letter, then you have rights under the FDCPA regarding misleading collection attempts.

http://www.budhibbs.com/drowning_in_debt.htm

At least he got smart enough to consult a lawyer on this one.

Hope this answers your question.

Admiral Move Prep.avi

Iowa Debt Collection Laws is a post from: Debt Help Services

Related posts

• Virginia Debt Collection Laws
• Pa Debt Collection Laws
• Oregon Debt Collection Laws
• Ohio Debt Collection Laws
• Nevada Debt Collection Laws
• Nc Debt Collection Laws
• Montana Debt Collection Laws

Question: Has anyone ever been taken to court for credit card debt?

If so, for what amount and what was the outcome of you going to court? Did the judge rule in your favour or the creditor? Thanks!

Answer: I personaly dont but know of many cases.

Usually if you dont appear they rule on creditor favor, if you appear and show you cant pay they try to help you out.

New credit card rules and what they mean to you

Did you know that there are new rules governing the fees and penalties that credit card companies can charge you? The provisions in the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 should save consumers at least $10 billion a year, according to the Pew Foundation.

Your Money: Guide to New Credit Card Rules – NYTimes.com

Credit Card Debt Rules is a post from: Debt Help Services

Related posts

• Credit Card Debt Uk
• Credit Card Debt Tricks
• Credit Card Debt Trap
• Credit Card Debt Total
• Credit Card Debt Today
• Credit Card Debt Suze Orman
• Credit Card Debt Reduction Law

Question: Will I have to stop using all my credit cards if I enter a DMP through NFCC?

If I enter a “debt management plan” through the “national foundation of credit counseling,” will I have to stop using all my credit cards until I finish the “debt management plan?” What is their policy while being in a “debt management plan” with them? For example, say I have eight credit cards and five of them have balances that I am having trouble making the monthly payments on. The other three have never been used. Then I enter a “debt management plan” through the NFCC on the five cards that I am having trouble paying the monthly payments on. Will they require as part of the “debt management plan” that I not use the other three cards as long as I am in their “debt management plan.” Can they monitor me? Do I have to agree to never use any of three three cards as long as I am enrolled in their “debt management plan?”

Answer: I certainly hope they require you to not use any credit card. It pretty much defeats the whole purpose of a debt management plan if you are running up credit card balances on other cards.

Some NFCC programs will require you to close most of your credit cards.

Golf courses feel financial strain

It’s a tough time in the municipal golf business.

Credit Counseling 101: Debt Management VS Debt Settlement

National Debt Management Foundation is a post from: Debt Help Services

Related posts

• National Debt Foundation
• National Debt Association
• Debt Management Foundation
• Us National Debt Figures
• United Debt Management
• Non Profit Credit Debt Management
• National Statistics Debt

(Con)census building? Tory decision sparks anger, study

Bank of Canada to evaluate impact. Plus, how Europe’s crisis will affect Canda

How to Deal with Collection Agencies in Alberta

Alberta Debt Collection is a post from: Debt Help Services

Related posts

• Dublin Debt Collection
• Michigan Debt Collection License
• Melbourne Debt Collection
• Malaysia Debt Collection
• Florida Debt Collection License
• West Asset Debt Collection
• Uk Debt Management Leads

Question: Have you used Consumer Credit Counseling Service or Christian Crossroads Debt Management program?

If so please give me some feedback on your experience.

Answer: I used Consumer Credit Counseling Services several years ago and was very happy.

They worked with my creditors to lower both my monthly payments and interest rate.

I was debt free in 36-months.

Ann Mainse – Oreos – Truth to Go

Christian Crossroads Debt Management is a post from: Debt Help Services

Related posts

• Zero Balance Debt Management
• What Is Debt Management Ratio
• West Debt Management
• Vortex Debt Management
• Vincent Bond Debt Management
• Veterans Debt Management
• Vat Debt Management Unit Address

Question: What is a good debt settlement company?

I have researched the pros and cons of debt settlement and now need help finding a good, reputable company to work with. Any help would be most appreciated. Thank you!

Answer: Debt settlement is the process in which you stop paying your creditors for some time and save that money so that you can then negotiate with them to settle the debt for a lesser amount.
It is better to seek help from any reputed debt settlement company. Such companies can handle it properly as they are experts in that field. I took help of freedom debt relief to settle my debts. I have joined their debt settlement program one year back and almost debt free now.

USOBA and TASC Join Forces to Shut Down Misleading Website

The Two Debt Settlement Trade Associations Send a Clear Message to Deceptive Marketers Note: This press release corrects the release sent earlier this week in which the website at issue was incorrectly identified. We apologize for the error.” The website at issue that we shut down was www.federaldebtreliefprogram.com not federalreliefprogram.com

Debt Settlement Video | Bills.com

Reputable Debt Settlement is a post from: Debt Help Services

Related posts

• Why Debt Settlement
• Lawyers Debt Settlement
• Debt Settlement Vs Bankruptcy
• Debt Settlement Lawyers
• Debt Settlement In Canada
• Debt Settlement Guide
• Debt Settlement Bankruptcy

Question: What is the purpose of a debt validation letter?

Can someone lead me in the right direction? I’m very confused on what my first step is. I have all 3 of my credit reports. I have medical and credit card debt. The medical is with collection agenicies and the credit cards are with them still(no collection agency as of yet). I keep reading about debt validation. Why? And with all of them or just collection agencies?

Answer: The sources listed in the previous answers are my favorite links….go there and read up!

Note one thing, however. Debt validation is required under the Fair Debt Collections Act, but only governs collection agencies, attorneys, and other 3rd party collectors. It does not cover the original creditor, unless your state has implemented their own version of the FDCA and included them (not many do).

So attempting to validate debts from credit card companies themselves may not result in anything.

One MAJOR reason for validating is because collection agencies tend to tack on lots of illegal fees and interest. You want to make sure the amount in contention is accurate. And the only way to do that is to get proof and documentation. They MUST supply you with copies of the signed contract, bills, receipts, last statements, and everything used to calculate exactly what they claim you owe.

Sending you a single statement saying you owe them $xx.xx money is NOT validation.

4 Questions That Need to Be Answered Next Week

Earnings season is all about insight and thesis validation.

Dealing With Debt Collectors – Debt Validation

Credit Card Debt Validation is a post from: Debt Help Services

Related posts

• Credit Card Debt Stimulus Package
• Credit Card Debt Stimulus Money
• Credit Card Debt Relief Programs
• Credit Card Debt Questions
• Credit Card Debt Consolidation Programs
• Credit Card Debt Consolidation Companies
• Rescue Debt Settlement

Question: Any proposed student loan debt elimination programs or interest rate reductions?

Has anyone heard if Obama’s new budget includes anything about possible programs to help cut down student loan debt or a move to lower interest rates, particularly for consolidation?

Answer: Why should taxpayers pay for YOUR student loans?
Pay your debts and stop looking for a free ride!

Letters: In government, bigger isn’t better

The information that “20,000 different households have abandoned Shelby County” does not prove in any way that another outcome could have been expected had the governments been consolidated.

Analysts Caution US Banking Crisis May Not be Over

Obama Debt Consolidation Program is a post from: Debt Help Services

Related posts

• Bank America Debt Consolidation Program
• Visa Debt Repayment Program
• Suze Orman Debt Management Program
• Private Debt Collection Program
• President Obama Debt Relief Program
• Obama’s New Debt Relief Program
• National Debt Relief Program