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Archive for the ‘debt management’ Category

My husband was out of work for almost a year and I lost my job. We have almost 30k in debt on credit cards. We have never been late with payments but it is starting to get tight. Should we file bankruptcy or contact a debit management agency?

The ability to file bankruptcy is not determined by your debt, but by your ability to repay your debt. Since you say you have enough to make your current payments, you may not even qualify for a Chapter 7(liquidation) bankruptcy.

To determine if you qualify there are two means tests you must pass first. The first is if you earn more than the average for your state, the second is if you have at least $100 a month of disposable income. If you fail either of these you may be forced into a Chapter 13, which is basically a repayment plan. If you do happen to qualify for a Chapter 7 bankruptcy this remains on your credit for 10 years.

Now, if you get on a debt management program they may be able to get you on a budget and work with your creditors. If this is the case you can probably be debt free in about 3-5 years. After that you are debt free and have no lasting marks. If you go this route be sure to go with a reputable organization. You can check out http://www.nfcc.org for a list of organizations that can help

http://www.debtwarriors.com: There’s a truly Free Credit Report some people don’t want you to know about. Under the Fair Credit Reporting Act [F.C.R.A.] you are allowed to get a free copy of your credit once every 12 months via email. This video shows you what you may not know about getting your truly Free Credit Report.

Don’t Go To Court Alone! Hire an affordable Attorney in your state. For more info call 866-576-4996 – or go to www.prepaidlegal.com/hub/jeromeford

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I am looking into a debt management plan. We tried a home equity loan but our credit has gone down to far for it. The one that I just applied for said they save on average $125 a month….that won’t cut it. Anyone have been success than that? I don’t need lectures…unfortunate health circumstances put us here. We just want a better life. I would love to hear success stories!

Depending on your total debt amount, you can save upto $300 or more per month.

Here is the source of debt consolidation company named http://ezconsolidation.com for your reference.

My friend informed me that I should check www.DMO.gov.nig advertisement has been placed for empolyment by Nigeria’s debt management Office I searched for the advert at that address and the application must be made on-line but I cant find the location can someone please help me out?

I can only help you out with this information , there is a lot of Internet fraud coming out of Nigeria , so don’t send money to them for anything .

The Debt People are a long established debt management company offering services to all UK residents who have lost control of their finances. This is our new TV advert and we would like to share it with you.

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Technorati Tags: debt management, debt management plan, debt management plans, IVA

(In detail, when a company does a credit check, does being in a debt management program effect the chances of employment? I have never been late with payments or went through bankruptcy. I signed up to reduce interest rates. Your honest feedback would be appreciated.

It’s actually a good thing because it shows personal responsibility versus non-payment. Credit wise it helps because you make payments on time. What can hurt you is your present credit rating if it is low. But that also depends on whether your company checks that and how it ranks that information. Your focus should be on a good interview highlighting what you bring to the company.

I’m currently in a situation where I’ve collected more debt than I can manage and the interest payments are staggering.
Besides telling me how I can better spend my money, I’m wondering how a debt management company could help me?
I own a house. Would they somehow tie the debt into my mortgage payments?
Basically – what can they do for me that the bank can’t?
Boss – why not spam less serious questions?

They don’t help in the long run. They claim to consolidate your debt, and make monthly payments to all of your creditors. The problem with that is it hurts your score even more b/c it shows that you aren’t responsible enough to manage your debt.

Some companies don’t make the scheduled payments they promise they will. Leaving you the consumer in even more trouble. I worked with the Dept of Financial Regulation in MD for 2yrs. We received numerous complaints about the practices of some of these compaines.

If you can make arrangements with you creditors on your own and arrange for monthly payments that you know you can afford, that would be your best option. You are paying them to do what you can already do for yourself.

UnityFShttp://gdata.youtube.com/feeds/api/users/unityfsPeopleNorm Schriever, Debt Management, Credit Management, Finance, Unity Financial SolutionsNorm Schriever_Debt Negotiation and debt management

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Hi, i am looking for the cheapest and best debt management company, do you have any details please?

Kerstin,

There’s a good article at eHow on steps to take to begin tackling your debt. Take a look at it:

http://www.ehow.com/how_2326032_avoid-escalating-debt.html
How to Stop Escalating Debt

It includes information on companies (both non-profit and for-profit) that can help you with debt consolidation and reduction.

You can also look here for tips on earning some extra cash online:

http://www.ehow.com/how_2254361_money-internet.html
How to make money on the internet, scam-free

Lastly, here’s an interesting alternative to conventional lending…getting a "social networking" loan from Virgin Money (from the same folks who run Virgin Airlines):

http://www.ehow.com/how_2310995_student-loan-through-virgin-money.html
Social Loans from Virgin Money

Hope these help.

I did an internet search and all lead me to already established debt programs. I want to set up my own debt management program, which can negotiate with creditors, consolidate loans etc… How do I get started?
I reiterate: There are literally thousands of debt management, consolidation, counseling website and resources. I am not looking to manage my own debts, I looking to start a debt management program for other people. I want to know what grants to apply for to begin a start up program. I want to know what regulations, fees, licenses I need to start my own debt management program so that others can come to me for debt consolidation services.

Make sure you have the skills, contacts and start-up money.

Establish a place of business and start advertising.

Best thing would be to map out the whole thing up front. You’ll need to know permit/license needs, employer requirements and other general business details. There should be a lawyer in your area that can assist with applications.