Debt Help Services

Posts Tagged ‘financial’

Question: We’re in huge debt, should we start over?

We’re at a point of bailing out and starting over because of our financial situation, but not sure if it will cause more stress down the road. We started a trucking business 2 yrs ago that went under and left us with $100k in personal credit card debt. Our mortgage is $2900 and going up to $3500 in 2 yrs.. We owe more than the house is worth so are thinking of doing a short sale or deed in lieu of forclosure and rent a cheaper place until the CC debt is paid off. I have thought of doing a debt relief program, but not decided because of the bad things I read about it. My credit is still high because I pay everything on time, but not able to pay much more than the minimum so not getting anywhere. I feel like I’m throwing money away on this house and would like to get out of it and have some breathing room to start over. Has anyone actually done this and how has it effected you? Do you think it is worth ruining great credit to be able to have a life again?
Thanks for any advice

Answer: I have one of my friend had to file for bankrupt for the amount of $419k in 05 due to major business lost.
just last week he closed deal to buy a new home.
with 10% down payment.
do not kill your self of debt.
your health, your happiness,and your family are the most important keys in your life not your credit.
you are in very bad situation . do not waste your hard earring money.
save it you and to your family .
life is too short to effect your life due to ugly debt.
best luck to you.

Euro zone debt tensions ease as peripherals tap markets

Euro zone debt tensions ease as peripherals tap marketsEuro zone debt tensions ease as peripherals tap markets

(The Law of Attraction)(Visualization) & (Relieving Debt Stress)

Question: Is there a faster way out ?

We have a credit card debt management company who is helping reduce interest rates and all of that, but they say it’s a 4 year ride on the payment train. Anyone know of a faster way than debt consolidation.

Answer: Yes but you will not like it.
Both of you get 2nd and third jobs, turn off TV, work till you can’t and do it some more.
Debt management are BAD deals for you .
they often wreck your credit faster than you did. AND you will be treated as if you had filed bankruptcy should you try to get a mortgage – it is the rules.
visit DaveRamsey.com to learn what you haven’t and what the banks will not tell you.
Oh put your plastic slave cards in a metal can with gasoline and burn them it is fun.

DSGi 2009/10 Preliminary Results

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need mortgage help, loan officer help, loan application, best rates, debt consolidation, loan consolidation, need to apply for a loan, loan help, personal loans, loans, l/o

Question: How should I repay my credit card debt?

This forum has been really helpful in the past.
I might not use the advice always but I always appreciate the feedback.
Here’s the scoop- I currently have $55,000 in Credit card debt.
It is totally stressing me out and it is really dificult to keep up with the payments.
1-Shoud I us a debt consolidation ageny. I spoke with them and they claim they can greatly reduce the interest and thus the monthly payments- but you do need to pay them a fee. Also, the payments are still close to what I pay now but I can get the cards paid off in 5 years instead of 17 years.

2-Should I get a home equity Loan.

3- should I use my saving to pay this off- I have about $95,000 in the bank.

Thanks for the advise!!!

Answer: I cannot say much more to the previous answer. You need to pay the debts you owe, period. You have the money. If they find out you ACTUALLY have the money, they could come after you again with fraudulent intentions. And yes, your credit will go to “hell in a hand basket” using debt consol. Same as B-ruptcy, essentially.

Lending constraints keep Europe central banks on alert

European inter-bank lending is under strain, threatening to hamper the availability of credit that is the lifeblood of the financial system and keeping European central banks on high alert.

Bank Mortgage Fraud pt 1 of 5 HOW THEY DO IT…ERICA JOHNSON-SECK THANKS! MERS

Question: How hard will it be to get a mortgage?

Here is the scenario:

Answer: I think that most mortgage companies will look at both scenarios & take both incomes into consideration. If both people want to be on the note of the loan they will look at both incomes.

Debt Adviser: Start an emergency fund while paying debt

Dear Debt Adviser,

How to make a Fixed Rate Loan/Mortgage Calculator in Excel

Question: Why can’t you refinance if your house has been on the market?

My husband and I have owned our house for about 3 years. We have gotten into a lot of credit card debt, and with raising interest rates we are unable to make even the minimum payment. We were trying to sell our house to move down to
North Carolina, but my husbands job transfer did not go through so we are stuck here. Not even one person came to look at our house. We apply to refinance with cash out to pay our credit cards off. Everything was going good with it then they found out our house was on the market for 109900, but we were told before this that it appraised for 125000. They said now they could not give us that amount. We tried another lender and they said we don’t qualify for a good rate because our house has been on the market in the last 12 months. We are now going to have to foreclose. What is the deal? Please help.

Answer: Dear Debi,

In answer to your question, if you had your house on the market most lenders will require you to wait 30 days after your listing expires with the multiple listing service (market).
This is standard practice.

Unfortunately the market is experiencing an adjustment and property values have come down.

I wish you strength. Hope this helps.
Daisy

Brazil’s Bovespa Declines for Fourth Day on Credit-Card Rules

May 18 (Bloomberg) — Brazil’s Bovespa stock index slid for the fourth day, heading for the lowest close since October, after the government disclosed a plan to overhaul credit card regulations.

Avoiding the Hazards of Credit Card Debt