Debt Help Services

Posts Tagged ‘Debt Management Plan’

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.

Keeping this in mind, I would appreciate advice on money management as a couple, typical life of a military wife, life living on base, importance of regular sexual activity (seriously), buying our first home, involvement of in-laws in our marriage, when to have kids, and anything else that you think is important that I did not mention here.

The only conflict I have with my fiance is that his in-laws, who are native Koreans, want to move in with us because they want to educate and raise the children that we have in the Korean Christian culture. I don’t really mind them helping out, but I would like some privacy in our lives.

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

Question: what is better for your credit file going on a debt management plan i changed my mind the last time i asked?

or having the card companies do a reschedule and pay an amount for 3 months and then clear and start paying again as i am not sure what this means any advice as i know debt management isnt good for your file and credit score
what does rescheduling the debt mean

Answer: Working with the CC company is the BEST way to go. You can explain to them the hardship directly, and they are more likely to work with you, than being slapped in the face with the info from a credit counseling company or bankruptcy.

A caveat here….. those debt mgt companies are RIPOFFS, and most of them are under investigation by the Federal Govt… I’d avoid them were I you…

EDIT_— rescheduling the debt means they are restructuring when and how much you pay each month…

Credit Card Debt Relief: A Personal Bailout Through Consolidation Explained

PORTLAND, OR–(Marketwire – 06/30/10) – Credit card debt relief and how to get it is explored today. Americans who are strapped with credit card debt aren’t likely to get any relief from the government anytime soon. Yet through the use of debt relief programs, people have the opportunity to craft their own bailout. According to the Federal Reserve, U.S. households spend 18% of their disposable …

How does a debt management plan affect my credit score?

Question: Debt Management Program the right way to go?

We are drowning in debt. So far we have managed to get our MINIMUM monthly payments out each month but we are getting no where. Would a debt management program be a good option for us? What exactly is it? Where do I find a reliable one to work with?

Answer: You are right paying the minimum payments will definitely not get you anywhere you'll end up just throwing extra money away to the credit card companies. I was in the same situation with about 18K in debt about 3 yrs ago. You can call Consumer Credit Counseling they're reputable and they've been around forever. They have a couple different programs to go with. I went with a consolidation plan and they lowered my interest rates and put everything into one monthly payment that i could afford, as of right now I have it all paid off and my credit is back on track. You can call them and they'll go over some options with you. Hope this helped! 1-877-343-5830

Church-based money management courses are growing more popular

When Lisa Williamson came to grips with a recent bout of severe depression, she decided that one way to do something about it was to address her credit card debt. "I know God doesn't want me to live like this, all stressed out and burdened about paying the bills," Williamson said. So the devout Christian turned to her church for help. Through some counseling she received at Savannah Christian ...

Sostalk Episode #1: Debt Management (With Slides)

Albany County 2010

2009 was a productive year for Albany County, as it managed to pass commercial wind project regulations, implement nuisance ordinances and acquire grant funds for a number of public projects.

How your creditors view you

The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work.

When you create a business plan, don’t attempt to recreate its format. Those reviewing this type of document have expectations you must meet. If they do not see those crucial decision-making components, they’ll see no reason to proceed with their review of your business plan, no matter how great your business idea.

Executive Summary Section

Every business plan must begin with an Executive Summary section. A well-written Executive Summary is critical to the success of the rest of the document. Here is where you need to capture the attention of your audience so that they will be compelled to read on. Remember, it’s a summary, so each and every word must be carefully selected and presented.

Use the Executive Summary section of your business plan to accurately describe the nature of your business venture including the need that you plan to fill. Show the reasons why people need your product or service. Show this by including a brief analysis of the characteristics of your potential market.

Describe the organization of your business including your management team. Also, briefly describe your sales and marketing plan or approach. Finally include the numbers that those reviewing your business plan want to see – the amount of capital you seek, the carefully calculated sales projections and your plan to repay the loan.

If you’ve captured your audience so far they’ll read on. Otherwise, they’ll close the document and add your business plan to the heap of other rejected ideas.

Devote the balance of your business plan to providing details of the items outlined in the Executive Summary.

The Business Section

Be sure to include the legal name, physical address and detailed description of the nature of your business. It’s important to keep the description easy to read using common terminology. Never assume that those reading your business plan have the same level of technical knowledge that you do. Describe how you plan to better serve your market than your competition is currently doing.

Market Analysis Section

An analysis of the market shows that you have done your homework. This section is basically a summary of your Marketing Plan. It needs to show the demand for your product or service, the proposed market, trends within the industry, a description of your pricing plan and packaging and a description of your company policies.

Financing Section

The Financing section must show that you are as committed to your business venture as you expect those reading your business plan to be. Show the amount of personal funds you are contributing and their source. Also include the amount of capital you need and your plan to repay this debt. Include all pertinent financial worksheets in this section: annual income projections, a break-even worksheet, projected cash flow statements and a balance sheet.

Management Section

Outline your organizational structure and management team here. Include the legal structure of your business whether it is a partnership, corporation or limited liability corporation. Include resumes and biographies of key players on your management team. Show staffing projection data for the next few years.

By now you’re probably thinking that you don’t need Business Plan just yet. Well you do, and there is business plan building software that can help you through this immense project. These software packages are easy to use and affordable. Use one today and produce a professional-quality Business Plan – including all critical components – tomorrow!

Nama’s time is nigh

Almost a year after the government first floated the concept of the National Asset Management Agency (Nama), the country’s new bad bank – for better or worse – will finally begin business next month.

Money Management – Personal PowerPoint Presentation