Question: Where can I get a poor credit refi?

Briefly here is our situation:
-our daughter had some medical problems & we got behind
-through the Hope Line, our mortgages are caught up
-we completed Consumer Credit Counseling classes and are currently enrolled in the debt management program. Several credit cards have been very difficult about accepting the proposals & have consequently dropped our credit scores dramatically.
-our scores range in the low to mid 400’s
-we have a 1st with Citibank for around $165,000 at 5.75% and a 2nd with Bank of America for around $54,000 at 9.95%. The payment on our first (insurance & taxes are escrowed- includes PMI) is $1710 and the payment on the second is $528.
-Together my husband and I bring in a little over $4050 a month
-the purchase price on our home was $171,000 and it is now worth around $250,000 – $270,000.

Answer: Perhaps you may want to start by getting financially educated. How $$ works. Take it for some one that’s being there, a different loan may not be the solution. It only will transfers your headaches from one place to another, at a higher interest rate.

Do you know what if you divide 72 among the interest you pay, you can find out how many times are you doubling some one’s money (the lender).

You can get off debt on your own, make payment arrangements, tight budget, increase cash flow and still have extra to make sure you meet your goals, if you take just a few hrs. to learn how.

Citinet offers free financial education, no investment, no buy books cds or none of that bs. just straight forward education in how r u to handle your situation to your advantage. I talk by personal experience.

They’ll expose for you the loan programs how they work how they make money on you and what can you do to choose the best, on your own. What can you do with your fico they way it is. They do this open to the public, they have offices across the us.

15. Consumer banking will continue to be an important revenue generator of banks

PETALING JAYA: Consumer banking will continue to be an important revenue generator for banks with home loans being one of the major areas of focus amid the prevailing relatively low interest rates.

Find the most suitable Card Lowest Interest, 0% Balance Transfer, Cash Back Credit Card Low Interest, Credit Card Aspire, Credit Card Sears, Credit Card, Credit Card Services, Citi Credit Card, Citibank Credit Card, Household Bank Bredit Card

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Question: Same day personal loan!?

My husband is in the military–we’re stationed at Fort Benning and I can’t seem to find a job. We’re a little behind and really need a personal loan. We already have one from Pioneer, so I don’t want that. I also don’t want one of those ‘pay day’ advances–we need more than his pay check. We also have some credit card debt I’d like to clear up–it’s less than three thousand dollars.

Answer: First, see if you can talk with your creditors about decreasing the payments you are making. And as others have suggested, a part-time job may help you make ends meet. Getting into more debt to pay off debt is generally not a good idea.

In addition, be careful because your type of question often attracts loan scammers. Do not provide personal information unless you first verify the company’s business address and phone number. Also, do not make any upfront payments before you receive your loan proceeds. That is a red flag that this company is scamming you.

Good luck.

Community calendar

This listing is of events of interest to the community. Submit items by noon Fridays in order to run in the next week’s issue. Phone: 801-629-5220. Fax: 801-629-5238. E-mail: community@standard.net. Today Alcoholics Anonymous 12-step support group, each Thursday, 11:30 a.m.-12:30 p.m., Hill Air Force Base Chapel Annex, Room 18-19. 801-682-6955. read more

How the Military Industrial Complex Makes Money

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Question: Where can I find information on the John Tenuta Debt Elimination system?

I hear it advertised all the time, but I can’t find anything on the web about it.

Answer: The guy hawking the latest version of the debt to wealth ponzi scheme is John Cummuta . When you have eliminated all of your credit card bills and cancelled the bank mortgage on your house in 8 months without paying any money, please post here and share the success story.

Lawsuits plague dealership

By JIM LARSON – The Billings Outpost Before a summer storm ravaged the arena that bears its name, Rimrock Auto Group faced damages of another kind, including a foreclosure proceeding. In June, Citizens Auto Finance won a default judgment against Rimrock, the result of a lawsuit that alleged fraud. The complaint argued that the auto dealer misrepresented the credit of a mentally disabled woman …

John Cummuta Transforming Debt Into Wealth System Review

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Question: Chapter 7 Bankruptcy?

In process of filing Chapter 7 Bankruptcy – I am planning to surrender my house,car,two unsecured debts, and some medical bills. Question what will happen with my house, we can no longer afford to keep it due to basic upkeep,heating etc. The unsecured debts, I tried the route of getting help from a debt settlement company. Big mistake I found a few weeks back a notice of a court summons. So am taking the route of bankruptcy, after much thought and consideration. I am filing chap-7.

I am getting ready to go through the credit bankruptcy certification class; have a call setup Monday. Any advice tips during this would be much appreciated. Will a chap-7 get rid of these debts? Attorney says most definitely; but am scared after the credit settlement ordeal.

Answer: I went through Chapter 7 Bankruptcy almost 2 years ago. The certification classes are excellent. You will find that you’re not the only person with these problems. The credit counselors will help answer your questions and concerns. It’s normal to be scared and nervous, however, we were all in the same situation as you. Be strong and good luck.

Sri Lanka: ‘Anti-Tamil ideology, international meddling make reconciliation impossible’

In a recent paper titled “Why National Reconciliation in Sri Lanka Is Not Possible,” Brian Senewiratne, a renowned physician and an Australia based Sinhala expatriate, says although he had realized that national reconciliation in Sri Lanka was totally unrealistic, after witnessing the major human rights violations inflicted upon the Tamil people, what has made the reconciliation really …

If Credit Card Companies Sue You During Debt Settlement

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Question: Sued by creditor. Case Dismissed by Lawyer. Now What?

I was sued by a creditor (in Georgia). My court date was this week. The judge suggested we try to settle it before presenting to him. I met with the plaintiff’s lawyer and he dimissed the case before presenting to the judge.

I added this creditor to a debt management program over 2 years ago & have paid $5200 on a $6575 debt. They claimed that the balance was substantially more than $6575, but that is what I submitted to the debt management agency based on a settlement offered they presented and a phone conversation I had with the account reperesentative 2 years ago. Can they bring me to court again? Do I now stop making payments? What can I do to completely settle this case? Thanks to all that respond…

Answer: I’m surprised it was dismissed. Check the dismissal filed with the court clerk’s office to find out whether it was with or without prejudice. It was most likely dismissed without prejudice, which allows them to file another complaint and take you to court again so long as the statute of limitations doesn’t run out. I believe the statute of limitations will run out 4 years from the date of default. A dismissal with prejudice prevents the lawsuit from being brought again.

However, regardless of the legal status of the debt discussed above, it may still be reported to credit bureaus and the creditor may continue attempting to collect.

I do not know the details regarding the settlement offer and whether or not you formally accepted it, but you probably missed your opportunity to take advantage of it. I would guess that the settlement offer required payment of the entire settlement amount immediately and almost certainly in less than 2 years.

The amount sought in the lawsuit was probably the entire principal (charges, cash advances, balance transfers) and all accrued interest to the time of filing, plus attorney’s fees and court costs, with credit for any payments made.

Are you sure that debt management agency was legitimate?

BOTTOM LINE: The entire unpaid principal and interest is probably due and owing. It almost certainly remains a debt that you should pay as soon as possible for the sake of your credit rating. This is true even if the action has been dismissed with prejudice or the statute of limitations has run out. If you do not know the collection agency that is currently collecting the debt, contact the original creditor to find out. When you contact the original creditor or collection agency, be prepared to pay a settlement amount with one payment or only a few monthly payments and be sure that payment as agreed will fully satisfy your obligations on that debt. To find out what is being reported to credit bureaus and how it affects your credit rating, go to a site like http://www.myfico.com.

I recommend contacting a local attorney if you need legal advice. Good luck getting this resolved.

*This message is not legal advice and does not create an attorney-client relationship.*

Katy Industries, Inc. Reports 2010 Second Quarter Results

Katy Industries, Inc. today reported net income in the second quarter of 2010 of $1.5 million, or $0.06 per diluted share, versus a net loss of $0.5 million, or $0.07 per diluted share, in the second quarter of 2009. Â Operating loss in accordance with GAAP was $0.6 million, or 1.6% of net sales, in the second quarter of 2010, compared to $0.8 million, or 2.1% of net sales, in the same period in …

Debt Settlement Program Atlanta Georgia

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CDC Corporation Reports Improved Adjusted EBITDA of $9.6 Million in the Second Quarter of 2010 Compared to $8.4 …

ATLANTA & HONG KONG–(BUSINESS WIRE)–CDC Corporation (NASDAQ: CHINA), a leading China-based value-added operator of, and growth investor in, hybrid (SaaS/On-Premise) enterprise software, IT Services, and New Media assets, today announced financial results for the quarter ended June 30, 2010. For the second quarter, CDC Corporation reported improved Adjusted EBITDA(a) of $9.6 million, compared …

China and India Are Beating Us At Our Own Game

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Question: Book Value vs. Market Value question?

2.The following are the book-value and market-value of the Pacific Energy Company:
(all figures are in millions)
Book-value Balance Sheet
Net working capital$30Debt$60
Long-term assets$70Equity$40
$100$100
Market-value Balance Sheet
Net working capital$30Debt$60
Long-term assets$170Equity$140
$200$200

Answer: This is a fundamental part of corporate finance balance sheet accounting. You have to learn this yourself

Commission pushing to finish budget

Maury County commissioners say they want to finish the budget before new members join Sept. 1.

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Question: Why Did Bank of America Close My Account and I have never missed a payment?

I called Bank of America this evening after I took a look at my credit scores and noticed the account I opened with MBNA back in 2004 was closed.

They stated, “that I owe sufficient amounts to other creditors.” It blows me away that a company whom I have been a loyal customer with for years can up and do that.

I had below 50% of debt against my original credit line which increasing got smaller as the credit crunch became an issue. Banks are lowering their lending amounts and consumers are getting squeezed right into lower credit scores.

I haven’t missed a payment or been late for the past four plus years and I pay sometimes twice in a month. Now I have to talk to a collections manager about an account that has never been delinquent.

I just don’t get it. Maybe we should address this question with CEO Kenneth D. Lewis, but he’s too busy counting his $150 million comp plan to worry about a loyal customer.

Maybe he can answer back. We will see.

Answer: The credit card companies periodically check your credit report, and if they see that you are creeping into more debt with them and/or with your other creditors (which you said you have been), they can lower your credit line, or even close it.

I had a $6500 limit with BofA last year (and I owed them $6500), then I sent them a $3000 payment in one month. 10 days later, they sent me a letter saying my new credit limit is $3700. At first I was pissed, but now I understand why they did it. At one time I deserved a $6500 limit, but I no longer did. As soon as I sent them a big payment, they lowered my limit so I wouldn’t be so much a risk for them.

Especially right now with the “credit crunch”, this type of thing is going to be happening to lots of people. Even people with good credit. Consumers are not necessarily getting “squeezed into lower credit scores”, in my opinion. Someone who is over their head in credit card debt (as I was), but makes only minimum payments, is not exactly someone with “good credit”. It’s someone who is just treading water, and one can only do that for so long. Really, a person with “good credit” is someone who doesn’t need credit.

Young, fat, fabulous — and moving fashion market

Fashionista bloggers gathered for the Young Fat and Fabulous Conference, a series of meet-and-greet events between 11 bloggers and retailers in New York City earlier this month.

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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

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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.

POLITICAL HOT TOPICS: Monday, August 2, 2010

The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. WASHINGTON/POLITICAL For the latest political news: www.CNNPolitics.com CNN Poll: How public views political parties With just over three months until November’s midterm elections, a new national poll gives a picture of how Americans view the [...]

Admiral Move Prep.avi

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

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

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Alliance Data Reports Second-Quarter Results

Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced results for the second quarter 2010.

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Resume Details – 07.13.2010 We’ve passed the mid-year mark and the good news is that there are tangible signs of recovery. Even the economic storm clouds over Europe appear to be subsiding.

debt relief, Debt Reduction America, Tampa, FL, debt settlement

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Question: Should a Christian use a debt relief agency?

I would like to do the “Dave Ramsey” method to snowball my debt, but I don’t have enough money to start. What are the negatives for looking into a debt relief program? If any?

Answer: Keep in mind that any credit counseling service that does nothing but teach you how to deal with debt isn’t teaching you anything that you can’t learn for yourself for free. Do some researach. Go to Ripoffreport.com and do some google searches. Find out what others have to say about the debt relief program/s you are considering. Then you can feel comfortable knowing you are making the best possible decision.

And I personally don’t see anything wrong with a Christian using a debt relief agency. You are doing your best to help yourself while doing the right thing. I think there is a lot to be said for that. Best of luck.

Christian Relief Group Says Shelter is Greatest Need, Challenge in Haiti

Six months after Haiti’s devastating earthquake, Christian relief groups say much has been done to help the people of the Caribbean country. The road to lasting recovery, however, will take many years.

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Finance Law Becomes Real, Emanuel Says ‘Just Do It’

Three days after U.S. lawmakers completed negotiations on the financial-overhaul bill last month, Rahm Emanuel called an emergency meeting of top administration officials in the White House’s Roosevelt Room.

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Collectors may even chase the innocent

MINNEAPOLIS – The page was mostly blank. It contained only a name, three words and a series of tiny numbers. But in Minnesota’s creditor-

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Question: Debt Management Programme…..was referred to Payplan, a free service who advise people on?

how to solve their debts. At the moment, i pay back over £600 a month to my creditors, owe in total £30.000, i have opted for the debt management programme as i wish to pay all the money back, the company (which is completely free) worked out i can afford roughly £270 a month, which i would be able to afford. How likely is it that my creditors will agree to this? Seeing as they will get all their money back, albeit it over 9 years. Just want to know if they are likely to refuse or regect my offer? Thanks.
for example creditors like Lloyds and Sainsburys Bank and Virgin.
Hasn’t gone to debt collectors and have never missed nor been late with a payment, am just finding the rest of the month sooo hard once i’ve made all these payments.

Answer: i’m with payplan and they have been fantastic. been with them for about 2 years now. we was paying £120 with a management company but payplan knocked this down to £40 a month. it’ll take lots of years to pay off our debt but we can’t afford to pay more as my husband is now disabled. all our creditors have accepted their payments. some have tried their luck every year to try to get more money from us but we just pass all correspondence to payplan to deal with. go with them as ease your finances and your worries. good luck to you

July 14, 2010 — Political letters that didn’t make it into print edition

[Editor’s note: The following are political letters that were not included in the Wednesday print edition because of space limitations. Smith’s position on SPLOST refuted by fellow Commissioner Maxwell Jack Smith is under the false belief that we are “mandated“ to spend the SPLOST funds on the West Fayetteville Bypass. The pro-SPLOST commissioner penned an article in The Citizen dated June 15 ...

Money Management : How Do Debt Consolidation Loans Work?

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