Sleepless asked:


I’m in debt for about $5,000.I haven’t paid my cc bills for over a year. I was unemployed and going to school. I now have my teaching credential, but no permanent job. So, I need something that’s not going to double or triple my principle. Any personal experiences would be great.

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Sarah S asked:


I have a lot of cc debt but I don’t want to file bankruptcy or close my accounts…any ideas?

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Benjamin Brook asked:


While officials from the Internal Revenue Service are often vilified as evil people, those who have successfully worked with them and received tax debt relief will say their reputation has no basis in fact. The job of the IRS is collect taxes from individuals and businesses so the country has operating capital, there are some who simply do not comply with IRS laws and regulations and others that financially are unable to do so. For those that fail to pay their taxes and fall out of favor with the government agency, their home, income and property can be seized unless they can work out some type of tax debt relief with the government.

Most individuals do not have the knowledge of the federal tax laws and end up paying their complete debt to the IRS, with payments often spread of many years. Those that fail to receive tax debt relief from the IRS will leave surviving family members and heirs with a tax debt that will still be payable.

Many have found tax debt relief with the help of accounting and legal experts, savvy to the IRS collections methods and have worked out what is called an offer in compromise, often being allowed to keep all of their assets while satisfying their debt to the Internal Revenue Service.

Accepted Offers Often Below Level Of Debt

On average, nearly half of all offers in compromise made to the Internal Revenue Service are accepted and of those, the average tax paid was between three and 80 percent of what was owed. Tax experts, including many former IRS agents work together with taxpayers on tax debt relief to help formulate what they believe is a fair settlement offer in compromise to get the IRS off their case.

There will be many different factors calculated into the amount owed and into the decision by the IRS to accept the offer including current income levels, total amount of assets and how they assets were obtained as well as the earning potential of the individual seeking tax debt relief. In a few cases where the person has become disabled and likely cannot work again, the offer will be considerably lower than those still earning an extensive salary.

The biggest point of dealing with the Internal Revenue Service is to talk to them frequently about the debt and continue to seek some sort of tax debt relief. Offers in compromise are often better accepted when made through qualified legal counsel and although they will charge for their services, the money saved on past due taxes will more than pay for their work on the tax debt relief.



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Rachel N asked:


I don’t know if debt relief would be good for my husband and I or not, we have never been late or missed a payment and we usually DO pay more that the minimum but we have over $20,000 on credit cards and I feel overwhelmed. I feel like we will never have this debt paid off. Also our cards are zero interest so I don’t know if we really have any options. We have really good credit so I would **** to do anything to ***** that up. Any thoughts would help!

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I love rain and alcohol! asked:


I forclosed on my home, but I had refinanced twice after the original loan. The house was originally 84,000. The first time I refinanced it went up to 93,000 and I used the extra cash to pay off my credit card debt. The second time I refinanced was to get a FHA secured loan to get a fixed rate. We received 1,900 cash back on that one. Will the act work for me? Thanks for your answers!

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rubix110 asked:


Last may we decided to consolidate our debt and made payments to a debt relief company who would begin negotiations as soon as we paid the finance charges. Never got that far b/c our state passed law that said they could not do business with us, we got refunded. In the meantime we have been turned over to collection agencies, should I negotiate with them on my own?

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rayteotico asked:


I am currently in a situation in which I cant afford to pay my bills. I have looked online for help but there are so many types of debt programs out there that I don’t know where to start. I eventually stumbled onto Freedom Debt Relief. They seemed very knowledgeable. They told me that they are the fastest and cheapest way to get out of debt. Is that true?
Please respond only if it is related to Freedom Debt Relief. I do not need to know about any others.

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Neil Robertson asked:


If you are experiencing overwhelming debt problems it would be sensible if all of the debt relief solutions available to you were free, after all it’s not as if you have a lot of spare money. Unfortunately not all debt relief is free. It depends on your situation and the solution that you choose. Debt relief can be categorized into informal (can sometimes be free), debt relief involving qualified supervision (almost never free, but can appear so), and full bankruptcy (never free).

The irony is that the debt relief solution that is most suitable for people with extreme financial difficulties (bankruptcy) is the one that is not free. Not only that, it requires you to pay an up-front fee.

Informal Debt Relief

There are a wide range of companies and charitable organizations offering informal debt relief solutions. These usually involve either persuading the creditors to accept a longer time period for the repayment of their debt (debt management plans) or persuading them to accept a figure that is lower than the debt owed (debt write-off). None of these solutions are legally binding on the creditors and so rely on the experience of the debt management/counseling company and the particular mix of creditors for their chances of success. With informal debt relief it is always possible to find debt charities that will work with you for no fee or companies that will only charge a fee if they arrange a successful resolution. In this way, if the fee is taken out of the settlement to the creditors then their services can be effectively free to you, the debtor.

Supervised Debt Relief

This includes Individual Voluntary Arrangements (IVAs) in the UK and Chapter 13 bankruptcy in the United States. These debt relief solutions require the services of a qualified person to setup and monitor the agreement (which typically involves paying back a proportion of the debt owed over an agreed period) and the involvement of the court to ratify it. The requirement for legally qualified advice and the involvement of the courts mean that these debt relief solutions are never free. In some circumstances they can be structured (in the UK) so that the fees are taken from the agreed monthly payments, meaning no up-front fees.

Bankruptcy

I’ll say it again, it seems very unfair that a debt relief solution that you would probably only select if you were in a financial crisis requires you to pay an up-front fee. Both in the US and the UK there are court fees to be paid to declare yourself bankrupt (in the US this applies to both Chapter 7 and Chapter 13 bankruptcy). The only hope of being able to declare yourself bankrupt if you cannot raise the court fees is to look for a local charity that will pay your bankruptcy costs. These do exist but you will probably need to do some local research to find them, and be prepared to justify why you need their help.

 



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David Cunningham asked:


Debt knows no religion. It is unbiased. Debts come like the harshness of thunder to people of any faith, sex, age or religion. There are, however, groups of people who utilize Biblical principles to help fellow Christians and others with their debt management.

The services of Christian debt relief companies from which you can seek aid and are worthy of consideration. Some of the very good reasons you might embrace their services include the following.

1. They are helpful. Christians, especially working together, are bound to keep and show faith to others. It is expected of them to do good works and demonstrate their belief in God by the ways they live and assist others.

They will not cheat or take advantage of you. Not a genuine Christian, anyway. (There are, of course, scam artists anywhere who prey on people they perceive as gullible.)

2. Christian debt relief services target positive human development as the final goal. They actually create human development plans as part of their debt relief strategies. They emphasize enhancing the spirit of the person as a higher priority than merely helping him out of debt - even though assisting with debt it vitally important as well. The services help to lift up the whole person, not just his finances.

3. Christian debt relief services typically do not wait for formalities to be taken care of, or different forms to be filled. They are committed to help without immediately. The assistance is selfless and sometimes offered without necessarily expecting any results.

In the broader scope of things, such a company often has a goal of helping to influence a debt free society while also aiming for the betterment of humanity.

4. Christian debt relief services build partnerships with their clients. These relationships are established to make each participant comfortable in the discussions.

5. The services rendered are mostly on a humanitarian basis. They value humanity more than profits and personal gains. Also, with their good deeds, they hope to build a good reputation, such that increasing numbers of people come to the company and benefit from their programs.

6. You are not offered unrealistic hopes and expectations. You will be provided accurate information that will help you in all the same ways other debt relief services work. They give you professional help that aligns with your needs.

7. You can rely on Christian debt relief services to work with you at every step of your financial recovery journey. They are committed to make you debt free.

These are the reasons why a Christian debt relief company should be considered when you are in need of financial assistance. They work in accordance with guidance from the Bible as a service to you.

Be careful though. Check out Christian debt relief companies to ensure they are legitimate and do indeed have a stellar reputation. This is because, as stated earlier, there are some who hide behind faith to scam you into giving them access to your personal information. Such people mar the reputation of otherwise great Christian organizations.



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Older and Wiser asked:


Every debt relief company tells me they can’t help me because I have credit union loans from military specific companies. I am no longer enlisted, but it seems the only option I have is bankruptcy which, ironically, I can’t afford because of the new laws requiring upfront payment. Is there a company that can actually help me get back on track? Serious answers only, i.e. don’t waste my time.

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