Rocky Road asked:


I want to provide an immediate family member of a credit card under my account, for limited use. This person, however, is in debt. The collector may legally withdraw money from my account?

Doris

J T asked:


I have about $ 15K in debt ranging from credit card and the hospital account. I'm looking for a good company that makes consolidations debt loans. There are lots and lots of companies available, but i 've heard there is some good and bad out there. Personal experiences are very important so if you have any - please share them. ¿Also, the service level / or revision of the guide for consumers who have written on this area? ¿Quick Links?

Jorge

Franko asked:


I 'm looking for the comparison? As-is beneficial or not to help? N, no m? S ass in this process. Prefer? To pay off the debt in 4 years of, however, the problem is we might need on your cr? Credit in an emergency. Notes some services require that you cancel the card once paid off and / or suspending the cr? Credit while paying off this debt.

Diana

cherokeebikerbabe asked:


A relative is in jail so obviously can 't pay for that is that the credit card he has. Collectors are calling. What can he do?

Sue

jimmyaven asked:


I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.

What does debt consolidation do? More importantly, can it REALLY remove or reduce the interest that built up over the last 5 years?

When doing a search for debt consolidation services, I get THOUSANDS of results. Which debt consolidation services are better?

Detailed answers would be appreciated.
Update: Am I correct to assume that if I leave the debt as it is, I can have it completely wiped off my credit card two years from now as if it never happened?

Kim

bloodycorinne asked:


I am very deep in debt, mostly on one credit card. Should I hire an attorney to negotiate a settlement for me with the bank? If so, how will this affect my credit score?
I care about my credit because I would like to buy a condo within the next year or two.

Constance

vulcanv60236 asked:


i am trying to help my dad get out credit card mess he is 81 an this is from a past business that the debt has come from an all he has now is his social security check to work with. i am trying to pay his bill but the intrest is killing me

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Anas M asked:


I’m currently suffering financial problems. I am thinking about going into debt relief program. I have a student loan for $4,700 and two credit card with balance of $3,000. I am looking for the best debt relief company that is trusted and can settle me with one low monthly payment

Raymond

Anthony Dean asked:


Financial debt is now a major concern to many millions of people in the West; for many people admitting the problem is the hardest part, but it must be done otherwise the situation will never improve. There are many ways to provide debt relief but whichever you choose, you must have a degree of commitment to being debt free or it will not work. It is essential to manage debts carefully and get rid of them as soon as possible.

The first thing to avoid is being disturbed by the situation as this will hinder any positive action on your part. Even if you have taken out a large loan perhaps to pay off previous debts, it is imperative that you continue to pay if you want to clear the outstanding balance.

Create a budget for yourself by adding up all your income, payments and expenses which will help you check where your money is being spent plus your budget will highlight all the small, unnecessary expenses that can be eliminated. It is a fact that when you pay for goods or services using cash instead of your credit card that the spending will automatically reduce.

It is not uncommon to find people who owe lost of small debts which can be cleared by saving small amounts of money regularly in a debt relief fund. Placing restrictions on how much entertaining you do whether it is a complete stop of all restaurant meals or a dramatic reduction you will ensure your fund grows faster.

Sometimes when the debt is large, people decide to refinance their homes to help pay off their debts but this means taking on a bigger mortgage so it is best to avoid this option if possible. Before you go down this route you must think about why you want this option when there are others that can be used.

It is not uncommon to find people withdrawing cash from their credit card to make a payment, which works but just increases the amount owed. Where the situation is so bad that there are no other solutions, then bankruptcy should be considered but only after an in depth discussion with a debt counselor or a bankruptcy attorney.

Unfortunately, some people in debt avoid bankruptcy and resort to using their individual retirement account to help pay their debts but you are on a slippery slope if you take this route. There is far too much to lose with this option so you would be better advised to find alternative answers and learn debt relief methods that are more fiscally responsible.



Tonya

James Hunaban asked:

Debt can be a terrible burden as it often creeps up on an individual who hasn’t recognized they have a problem; if this is something you recognize then take advice from a financial counselor to regain some kind of control over your finances. You must seek methods that will provide debt relief in the short and long term. The best way to beat the debt stress is to learn how to manage your finances more thoroughly.

Do not let panic over the situation rule your actions as you will probably end up in a worse predicament. Whilst many loans can end up giving you huge debts you need to plan to pay them off judiciously.

The easiest way to approach this is to calculate everything you have to pay out regularly both necessities and those inconsequential items that mount up each month. The hardest part for anyone in these circumstances is reducing the use of their credit card which is often considered a lifeline but paying for goods in cash highlights how much money is leaving your account and will result in you being more careful.

When your list is complete you will see clearly where you will have excess cash which can be placed in a debt relief fund that will pay off debts one by one and as money is paid off, more will be available for your fund. If you are someone who enjoys going out for a meal of other entertainment on a regular basis then you need to cut back and you will be surprised how much money you can save each month.

No-one really wants to increase their mortgage repayments but many homeowners see their only option is to refinance their home which can work but just increases the amount you pay in the long term. Although this is a great way to raise spare cash in the short term you may not think that way a few years later so consider if this is really right for you.

An easy, but expensive in the long run is to take out cash from your credit card to pay for the monthly bill, although this is not really a good idea. If your debt is so high that you have to file for bankruptcy because a re-mortgage option hasn’t worked then you should consult a bankruptcy attorney for the best advice.

Although it can be done, bankruptcy can be avoided by using the savings you have in your individual retirement account is the last method you should ever consider to pay off your debts. With this debt relief option there will be a knock on effect with regard to your future tax-deferred returns but ultimately you must learn to have a more responsible attitude to your finances.

Marlene