Debt Help Services

Posts Tagged ‘Bank Of America’

Question: Does Chase, Bank of America, or Capital One give debt consolidation?

if so, which ones, and is it free?
I need to know for a class project …

Answer: You can get a bank loan to consolidate your debts if you have sufficient collateral to put down.

With a debt consolidation loan, you use the money the bank loans you to pay off your other bills. A bank will not lend you the money unless you have some real property (Which is usually a house or a car) to put up as collateral to secure your loan. Then if you don’t pay back the bank, they take your collateral. You could end up without a car or a house if you don’t pay the money back as promised.

Assistant Secretary for Financial Institutions Michael S. Barr Remarks to the Independent Community Bankers of America …

Just over one year ago, when President Obama took office, the financial system was teetering on the edge. A failing financial system threatened to drag the economy into the depths of another Great Depression. Decisive action staved off the worst.

Debtors Revolt Begins Now Invitation

Question: Debt consoladition with Bank Of America?

it’s such a pain to find out information on getting a loan for debt consolidation. Bank of Americas website is no help, and the phone number they provide is an anoying operator. WHAT DO I NEED TO BRING WHEN GOING TO FIND OUT IF I CAN GET A LOAN? pay stub?

Answer: I would bring your 3 or 4 most recent pay stubs, 2007 tax return and w2s, your driver's license and social security card. Can you not call your loan officer directly?

Year of the Bank

When worried depositors showed up at the door of First State Bank, they were greeted by a nervous guard holding a shotgun and pacing the floor. Bank President Ed Clark was smiling, though, sitting behind a counter groaning with the weight of coins and paper money.

Credit Card - Bank of America JEFF CRAWFORD Update!!

If you’re a bank, things are looking up! The $700 billion from the Troubled Asset Relief Program (TARP) has largely gone to buoying up financial institutions with some help to the struggling auto industry as well. So if your name is Bank of America, Citigroup or GM then congratulations are in order. In fact, over $25 billion have been eagerly repaid by those institutions who are stockpiling funds and do not want to have any government oversight of their business. Go banks!

But—if you’re a homeowner or a potential homeowner, an average American, or a small business then the news isn’t all that great. From where I often sit behind the desk of a real estate radio show and podcast, it looks pretty discouraging. The real estate system is starting to move homes, but lending requirements are stricter than ever, and even high FICO and truly qualified buyers are not getting approval. It seems like we’ve created a system in which no one is deemed qualified. Brilliant.

TARP Funds should help those in need!

How needy are the banks? Frankly, the banks are posting great profits. They are benefitting from government funds, and even Treasury Secretary Geithner has stated that most banks now have more money than they need. That extra infusion of bailout money to repair the financial system seems to have worked—for the banks. What about the consumers?

Loan programs are increasing, interest rates are low—but credit continues to deteriorate! Job losses continue as many businesses scale back on staff and are forced into layoffs. If you’re one of many working Americans who has lost a job or lives in fear of a job loss, then the success of Bank of America doesn’t do much to feed your family or put a roof over their head, does it? They still won’t give you a loan.

And Bank of America is just one striking example of how the bailout funds are working for the big banks and against average Americans. Bank of America posted a $4.2 billion profit in the first quarter of 2009, yet they have $1.3 billion in credit losses. Doesn’t this point to a huge problem that no one is addressing?

Credit card debt is the elephant in the room!

There’s about $110 billion left in the TARP funds. Where is it going to go? I hear all this talk about bolstering the financial industry and getting credit flowing again, but no one is looking at the credit situation from the buyers’ end! Nothing will start flowing until qualified buyers can actually get loans!

Crazy Ringmasters and Hoops for Home Loans

Home values are down and the real estate market is showing signs of improvement; but folks who can finally buy are forced to jump through double hoops. It’s like the banks are crazy ring masters!

Every day I hear from folks who are forced to go through a pre-qualification procedure with one bank, even though they already have a loan with another bank. Why? Banks that have foreclosures don’t even want to do loans on their own foreclosures, so you have to get pre-qualified by the first bank’s loan reps to get a loan with another bank. That’s crazy!

Why don’t those banks open the doors, loosen credit and make loans on their own bank foreclosures to the people that want to buy? If they make the terms better and easier to qualify they can stop the foreclosures, keep buyer paying the loans, and help to unclog the housing market. Everybody wins!

So why isn’t anyone talking about the credit card and qualifying situations? These are the issues I get calls about on my radio and podcast shows every day. Want to buy a home? There are thousands out there that banks, lenders and homeowners need to sell. It’s too bad that no one seems to be qualified to buy them.

We’ve got a $700 billion elephant in our nation’s financial living room. Maybe we should start talking about it.

Moratorium? Is that still on?? I see everyone got quite!!

Legal Notices in the December 24th Edition of the St. James Plaindealer.

Legal Notices

Question: Is there any Bank or Loan I can apply for that will approve me, even with Bad credit and in Chexsystems in CA?

I have a Bank of America Checking Account At the moment, But im in Chexsystems from Wells Fargo about 4 years ago. Im trying to qualify for a debt consolidation loan to pay off Wells Fargo, a Capital One Account and a Medical bill but I have Bad Credit. Is there any Bank or Lender that will approve me, I work at Time Warner Cable If the Job is enough, Please Help me answer this Cause I could really use it.

Answer: Well Bank Of America would probably the only ones willing to help you. Credit Unions only give loans to members and most of them check Chexsystems before approving you.

(AFX UK Focus) 2010-01-05 12:24 EMERGING MARKETS-Stocks at 17-mth high; Turkey up on IMF hopes

By Sujata Rao

(citifinancial retail services)*FINANCIAL FREEDOM*

Question: I received a settlement letter for a debt from Bank of America?

I previously banked with Bank of america. I had two checking accounts and one savings account. One of my check cards was stolen, so I called to report it, and the woman on the phone told me I could use the other check card, as all my cards were linked. I did, and ended up getting overdraft fees of more than $200. I paid $100 of it, then told them that’s all they were getting. They closed my account and sent the debt to ltd financial services. They want to settle with me. They took my debt from 148.69 down to 111.52.
If I settle with them, does this still show up on my credit report? Does it do me any good at all whatsoever??
Thanks for the help.

Answer: You want "Paid in Full" on your credit report for this tiny amount of debt. It's not worth saving $30-something dollars to have a "settled" notation on your credit report.

- Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be settled/paid in full upon receipt of this amount from you. Keep the letter in a safe place. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you...or they will resell your account to another collection agency months/years later that will start the collection process all over again and you’ll have no proof that the account was paid in full.

Eaton Vance New York Bet Makes MacIntosh First Among Muni Funds

Jan. 5 (Bloomberg) -- Eaton Vance Corp.’s New York Municipal Income Trust , using borrowed money to benefit from a revival of long-term debt, became the best-performing mutual fund investing in state and local bonds in 2009 after turning in one of the worst records the year before.

Adam Miller "There Is A War On For Your Mind"