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Question by Moonlight177: Debt Management Program the right way to go?
We are drowning in debt. So far we have managed to get our MINIMUM monthly payments out each month but we are getting no where. Would a debt management program be a good option for us? What exactly is it? Where do I find a reliable one to work with?

Best answer:

Answer by PureOrLady
congrats on the minimum monthly-stop using the cards. Now call all the cardholders and ask nicely if they have any options to reef interest- or reduce fees. Create a workable budget and try to pay off the highest interest stuff first. There is nothing a debt management program can do that you can’t do on your own. Creating the budget is the key. Living by it is the magic.

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Question by Phantasia: Can you keep your credit card accounts open after using a debt management service?
Just wondering if anyone has used a debt management service and knows if this is possible. I know they set them to mechanically close when they are finished, but does anyone know if you can contact the credit card company and ask them to leave it open once it is paid off? The reason I ask is because I know it is better for your credit score to have accounts that are a few years previous open, with available credit, rather than closing them when they are paid off.

Best answer:

Answer by nick
i work for amex and dulcify once you go under these pograms they are fighting with us to lower youre apr so we say if we do this we will nigh youre accounts manually and automatic the management poeple dont near it its up to us and we will close them for you and it will ruin youre credit make it will say “closed by grabntor” instead of close by consumer please mark this top

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debt management advice – mortgage

Curb Excessive Holiday Credit Card Spending to Prevent Greater Debt Woes in 2012

Phoenix, Arizona (PRWEB) December 20, 2011

Online holiday spending since Thanksgiving 2011 has broken previous years records, fueled mostly by stronger Black Friday deals, Cyber Monday and the extension of Cyber Monday into the newly branded Cyber Week, according to online retail spending reports. Americans are now able to spend money via mobile device (smart phones and tablets), PC, and brick and mortar locations, making it easier to pass money in oecumenical, with one caveat. A valid credit or debit card is required in order to purchase products and services online when using any of the immense assortment of peregrine devices today uncommitted, or a personal computer. The debt settlement attorneys of Weisberg & Meyers LLC, Attorneys for Consumers, rede consumers already carrying a fleshy load of credit card debt to be argus-eyed of passing, as the holidays can make a still greater debt burden that will demand to be addrest when the bills commence to arrive in 2012.

According to financial industry research, an economically challenged 2011 has put the pressure on retailers to end the year with a bang. This means consumers are reaping the benefits through lower prices and added discount incentives and bonuses such as unloosing shipping for online purchases. This encourages greater spending and since a large percentage of the sales go directly onto a credit card, its easy to lose track of how much has been spent to date. The purchases tin accumulate in number before shipping and delivery occur and without keeping fold watch the amounted spent on gifts, the numbers and dollars can easily get lost in the holiday shuffle.

Why do many consumers procrastinate and then make a New Year’s resolution to find a way to handle credit card debt only after increasing total monthly obligations through excessive holiday spending? Weisberg & Meyers, LLC, Attorneys for Consumers, is a consumer law firm offering a suite of debt help services including debt settlement, Fair Debt Collection Practice Act violations, credit reporting errors, consumer fraud, Truth in Lending and Fair Credit Billing Act violations. Years of practice and observation of consumer behavior during the holiday flavoured have provided Marshall Meyers, managing attorney of the firm with a wealth of insight. “Caught up in the holiday gift buying frenzy, consumers are blindsided by the credit card bills that come in after January 1 each year,” Meyers claims. “The best advice is to assess impute card debt before the holiday spending commencing and put a plan in place to curb spending and closely monitor each gift purchase, and if a credit card debt issue already exists, do not continue to add to that without having the funds available to cover the purchase,” he adds.

Debt settlement could be a viable option for settling ascribing card debt that has spiraled exposed of control and according to attorney Meyers the time to think about a debt settlement plan is before going overboard for holiday gift spending that involves credit card use. Weisberg & Meyers, LLC, Attorneys for Consumers, provides review and analysis of a potential unexampled client’s financial situation, the feasibility of debt negotiation with creditors and debt collectors on a client’s behalf is assessed and a debt settlement plan, structured to reduce monthly payments and overall debt, may be recommended.

About Weisberg & Meyers, LLC, Attorneys for Consumers

Weisberg & Meyers LLC, Attorneys for Consumers, is a nationally recognized consumer law firm, has attorneys licensed to practice in Arizona, Colorado, Florida, Georgia, Illinois, New Jersey, New Mexico, New York, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Washington, and works with attorneys throughout the country to protect the rights of aggrieved consumers. The Firm’s diverse practice includes claims under the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA), as good as violations of the Telephone Consumer Protection Act (TCPA), Truth In Lending Act (TILA), the Electronic Fund Transfer Act (EFTA), Fair Credit Billing Act (FCBA), Equal Credit Opportunity Act (ECOA), Consumer Leasing Act, Credit Repair Organizations Act, (CROA) and State Unfair and Deceptive Practices Acts (UDAP). The Firm also offers Debt Settlement services, prosecutes Class Action Lawsuits, and handles Breach of Warranty, Lemon Law and Consumer Fraud Claims.

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Question by Flyers: Should I file for bankruptcy or work with a debt management agency?
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?

Best answer:

Answer by Steveo
You need debt relief and not management. If you are in such tight straits, I would suggest bk. Get a good attorney. All the debt management companies will do is make sure that you are still in debt, but not as much. And it will still be tight.

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Visit SchiffRadio.com for more analysis from Peter Schiff. The Peter Schiff Radio show is broadcast MF from 10am to 12pm ET. Peter Schiff’s Bio: “Peter Schiff is one of the few non-biased investment advisors (not committed solely to the short side of the market) to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on the US stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned. He has been quoted in many of the nation’s leading newspapers, including The Wall Street Journal, Barron’s, Investor’s Business Daily, The Financial Times, The New York Times, The Los Angeles Times, The Washington Post, The Chicago Tribune, The Dallas Morning News, The Miami Herald, The San Francisco Chronicle, The Atlanta Journal-Constitution, The Arizona Republic, The Philadelphia Inquirer, and the Christian Science Monitor, and appears regularly on CNBC, CNN, Fox News, Fox Business Network, and Bloomberg TV His best-selling book, “Crash Proof: How to Profit from the Coming Economic Collapse” was published by Wiley & Sons in February of 2007. His second book, “The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down” was published by Wiley & Sons in October of 2008. Mr. Schiff began his investment career as a financial consultant with Shearson …
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After a choppy week for Europe’s stocks, four Eurozone countries have resorted to methods, unseen since the 2008 crisis, to try and calm markets. France, Italy, Spain and Belgium have decided to ban short-selling on the shares of banks and other financial companies. The practice sees investors selling borrowed stocks that are expected to fall in price, before buying them back and keeping the difference. Short-selling has been blamed for increasing recent market volatility. Meanwhile, France has been battling speculation it was going to lose its AAA score, which was finally reaffirmed by ratings giants on Wednesday. Investors, however, remain unconvinced the country’s finances are solid enough. Recent figures show stagnation in growth, while the banking sector’s been battling health rumours. Jan Hagen, from the European School of Management and Technology, says it’s the banks that are once again being offered protection. RT on Twitter: twitter.com RT on Facebook: www.facebook.com
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debt management advice – mortgage

CreditNowUSA.com Introduces Debt Related Personal Financial Tools

(PRWEB) October 10, 2011

Because of our lagging economy, in the United States there’s a lot of talk about debt and debt relief related issue. Go into any bar, barber shop, salon, or water cooler and debt and debt related issues are the most discussed. In political news, the United States government is trying to put together a plan to get the country out of a pretty nasty debt.

CreditNowUSA.com states: “Our debt relief serve can assist you take your life back into your own reach. we offer debt consolidation, tax debt relief, and they even have the endured resort known as bankruptcy. You might be in a position where you are struggle to pay off high interest credit cards, automobile loans, mortgage payments, etc. This kind of a situation can suck your finances dry, just from interest alone.”

Some populated get so whelm that they go straight for a bankruptcy. A better route for debt relief would be to try debt consolidation.

CreditNowUSA.com states: “We offer a debt consolidation option in ourdebt relief repertoire.”

Debt consolidation won’t necessarily absolve ones debts. However, it is an option for those who have major debts with high interest rates. Beyond regular debt relief, one might still be having issues with taxes. Manyd don’t know this but one cannot count their taxes in either debt consolidation or bankruptcy.

CreditNowUSA.com states: “We offer a tax debt relief service, among ourother debt relief services. These services will help you with your dealings with State and Federal tax establishments. Getting your excise burthening under control will surely make dealing with your other obligations that much more bearable. Contact CreditNowUSA for a free consultation.”

Logically, those who don’t get their financial house in order might have to bite the bankruptcy bullet. This is not an easy decision to make for anyone.

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(part 2) Colm McCarthy of UCD at the Trinity College Dublin ‘Economic Crisis Conference’ on the 20th of May 2009. at the JM Synge Lecture Theatre (Room 2039), Arts Building. His talk was about Pensions and Debt Management Slides to the conference can be found at the irish economy website here: www.irisheconomy.ie The conference agenda and speakers were as follows: Jim O’Brien, Second Secretary General, Department of Finance chaired the first half 1st speaker: John Fitzgerald of the ESRI on Competitiveness in Ireland and price levels 2nd Speaker: Karl Whelan of TCD ‘Potential output & the structural deficit’ 3rd Speaker: Brian Nolan of UCD on Equality. John McHale of NUI Galway (formerly of Queens University Canada) Chared the second half. 1st Speaker: Colm McCarthy of UCD ‘Irish Pension policy and debt management’. 2nd Speaker: Philip Lane of TCD ‘Current challenges for the Irish Economy’. 3rd Speaker: Patrick Honohan of TCD on Banks. Filmed by karl deeter of irish mortgage brokers www.mortgtagebrokers.ie with permission by Philip Lane and Patrick Honohan of TCD.
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Bad credit management www.solvemybadcredit.co.uk More reviews on UK companies and services on debt consolidation
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debt management advice – mortgage

Question by freeman: How did the mortgage debt crisis contribute to decline the value of dollar?


Best answer:

Answer by meg
Since we have a trade deficit we need a capital inflow the support the dollar. When the debt crisis occurred the US looked similar a more wild place so foreign investment declined and the dollar savage until a new equilibrium was reached with a lower trade deficit and cheaper US asset prices( in foreign currency).

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Question by EMB: How much will a debt management plan save a month?
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!

Best answer:

Answer by MJ23
Well i owed about 4,000 in debt and now i currently pay $ 130 a month. The payment is divided up and dent to each credit card company. Yes it will take a lot longer but i could not afford to pay without the debt program. Your payment is usually flexible and set by your monthly expenses and salary. When look for programs make certain to do proper searched. I have worked with 2 companies that were horrible. I am now with greenpath and i love them. They don’t hassle you and ask you tons of questions about why you could not pay the bills. They understand and they are very attentive and they do what they say there going to do. I hoped more people understood how hard it is to pay bills with unfortunate health but i hope i helped. Good luck!!

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Question by JUN: will I owe taxes on debt that was discharged by chapter 7 bankruptcy including mortgage debt?
Will the mortgage holder send a 1099 for the difference on what we owe and what they are able to sell the house? Will we owe taxes on that difference? Is there a forgiveness program for the taxed owed, if indeed we would owe the taxes?

Best answer:

Answer by rpg
They *may* send you a 1099-C but they aren’t supposed to (this is a relatively common mistake made by lenders to debtors who have filed bankruptcy).You do NOT owe taxes for “debt cancelation” after filing bankruptcy and they should NOT be sending you a 1099-C (although, as mentioned, this is a common mistake that lenders make).This is I of the main differences between “settling” debts outside of bankruptcy (in which inspect you DO owe taxes on the amount forgiven, as though it were income) and filing bankruptcy (in which case you do NOT owe any taxes on discharged debt).Court ordered discharge of debt is not the same as debt forgiveness or debt cancelation, which is why it is treated differently by the IRS.

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debt management advice – mortgage