I have looked and read all kinds of diffrent stuff. On debt reduction, debt consolidation,debt settlement. I know that I don't want to file bankruptcy!! Im about 8,000 in debt with-all mostly being hospital bills. I am a mother who makes about 17,000 a year, and it takes about that much to survive. So Im trying to figure out a way to get out of debt, be able to afford the payment and it not hurt my credit score. Please anyone with experience -Help!!!!
What is the best way to become debt free?
stop borrowing and pay down your debt. you may have to get a 2nd or 3rd job. if you have a car, sell it and get something that's paid for if your car is not. don't bother with people who try to fix your credit, it's better for you to learn how to manage your own bills instead of just giving the problem to someone else.
Reply:Forget your credit score. Take care of your child(ren) and pay what you can. If the hospital won't negotiate, ignore them until you can settle. Report Abuse
Reply:You can visit http://www.cashguru.info and find very useful tips and several articles on debt consolidation. Report Abuse
Reply:I have heard of this thing called a charge off, from what I know it is a way of having a debt cleared from your record, you are still responsible for it but until you can pay it off, it does not require payment and does not incur interest. But it will be on your credit and show up at times like when you want to buy a home.
Reply:The best way to be debt free is to stop using credit cards and pay of the remaining balance. You need to get more cash flow..another job on the side or something to pay it down. $8000 is not much and not worth filing for bankruptcy.
There are so many people who are always willing to help people in need as well. I've heard a story where a girl got a website and just asked for help to pay down her debt (she bought too many clothes and shoes and was a student) and she got it all paid off. So..just ask for help. If people say no, do not take it personally. Just think how you at least put yourself out there and tried.
Good luck. Oh..another thing is to have the attitude that "Money comes easily and frequently" instead of constantly thinking that you don't have money and are in debt.
Reply:Let's focus, how old is your hospital debt?
If it is not in bad debt, with a collection agency, or an attorneys office.
Check with a financial counselor at the hospital, to find out the answer to these questions.
Is the hospital for profit, or non-profit?
If they are a non-profit hospital, they have a charity program.
You did not indicate how many children you have?
Depending on the size of your family, you can fall into their financial assistance program.
Your debt can be completely written off and or reduced precentage wise significantly.
If the debt is not considerable old, you can usually set up some kind of payment plan.
They want to get paid, so they will usually work with you.
Because in most people lives, medical bills are put on the back burner forever.
If you make the payments on time as agreed, it will not hurt your credit score.
Once the debt is cleared, be sure to get a letter with the statement of that fact and keep it for your records.
You did not say what the other bills are?
Are they secured debt, or unsecured debt?
The best thing to do for these is pay them off.
P.S. Work in a hospital business office.
Reply:Well, first of all, you make about $5000 more than I do, annually. Secondly, you're about $3000 less in debt than I am. As long as the debt isn't high-interest, I wouldn't sweat it.
I was $4000 under on just one card, but had a $10,000 limit. They did a credit check and found my score low I guess, so they reduced the limit to under $3000, and I don't owe them the money over that $3000! I have no idea why they did this, but debt is no big deal unless the interest is high.
Reply:Look around and see where you can save more money to send in towards this debt. Even an extra $50 per month can knock off alot of money.
Do you smoke ? IF yes, then quit...
Do you go out and party? Then stop and put that towards the debt.
Stay out of casinos.
Start shopping smarter. I took one gal I was tutoring financially shopping with me to show her how to save money. She saved over $100 on only one trip to the store with me. She had no clue she was spending so much on groceries foolishly. Step back from your life and see just what you can do to save $.
It is NOT easy to see these things in YOUR own life, it sometimes takes someone on the outside to point them out.
Stop spending and pay everything towards that debt till its gone. Do not let yourself get back into debt for YOU deserve to be debt free and your kids deserve to have a mom who knows how to handle her finances because we reap what we sew. !!!
Reply:I am doing a consolidated deal thorough www.consolidatedcredit.org and it helps you make low payments each month without hurting your credit score. I am not sure what country you're in but this place is based out of Florida, USA. There is a monthly fee of $8.00, but I think that it is worth it! You should definately give them a call, they are very helpful!
Good Luck!
Reply:No to minimize your problem but try 25,000 in debt and really there is no one outhere to help you. EVERY company at there is out to get you. if you have access to internet do a reseach for cc consolidation and it will provide you with a lot of different companies. Of course , many of these companies are proffesional thieves so just read the small print
Monday, August 3, 2009
What is your most burning question about getting out of debt?
I am in the process of developing a membership site that will help people get out of debt fast. If you're in debt, will you tell me what your most burning question is about how to get out of debt? Your feedback will help me ensure that I'm covering important topics.
In exchange for your feedback, I'll give you free lifetime membership to my site. Please contact me directly if you'd like a free membership.
Thanks,
Scott.......
What is your most burning question about getting out of debt?
How do I stop the viscious cycle of getting back into it. Every year I get my tax return back, pay off my loans and credit cards and swear that it will be the last time. I always plan for smarter investments, but something always comes up. So.... there's my story.
Reply:nothing i am not in debt. who would want membership to your website?
lily
In exchange for your feedback, I'll give you free lifetime membership to my site. Please contact me directly if you'd like a free membership.
Thanks,
Scott.......
What is your most burning question about getting out of debt?
How do I stop the viscious cycle of getting back into it. Every year I get my tax return back, pay off my loans and credit cards and swear that it will be the last time. I always plan for smarter investments, but something always comes up. So.... there's my story.
Reply:nothing i am not in debt. who would want membership to your website?
lily
What is the difference between debt securities and equity securities?
and how are they presented on the balance sheet...
All my books says is that a debit security is a form of ownership
and debt is form of borrowing
What is the difference between debt securities and equity securities?
Equity represents ownership and debt represents a loan.
Reply:Simply stated, debt securities represent indebtedness or borrowing by the issuing company. On the other hand, equity securities represent ownership of the issuing company.
Reply:Your books are correct: debt = borrowing, equity = ownership. Both are forms of financing and are on the right hand side of the balance sheet (on the left are various assets). The left side of the balance sheet is WHAT a company has, the right side is HOW the company paid for that stuff. Makes sense? So for a typical family that owns a home, the left side of the balance sheet contains assets like a home, cars, investments, etc; while the right hand side shows how they paid for that stuff: a mix of debt (mortgage, credit card debt) and equity (down payments on house and cars, mainly). HeavyD
Reply:debt securities equal Bonds
debt securities equal loans
equity securities = shares= common stocks
Reply:Debt securities are usually bonds. And equity securities are securities that are secured by equity in the company, or more commonly known as stock.
All my books says is that a debit security is a form of ownership
and debt is form of borrowing
What is the difference between debt securities and equity securities?
Equity represents ownership and debt represents a loan.
Reply:Simply stated, debt securities represent indebtedness or borrowing by the issuing company. On the other hand, equity securities represent ownership of the issuing company.
Reply:Your books are correct: debt = borrowing, equity = ownership. Both are forms of financing and are on the right hand side of the balance sheet (on the left are various assets). The left side of the balance sheet is WHAT a company has, the right side is HOW the company paid for that stuff. Makes sense? So for a typical family that owns a home, the left side of the balance sheet contains assets like a home, cars, investments, etc; while the right hand side shows how they paid for that stuff: a mix of debt (mortgage, credit card debt) and equity (down payments on house and cars, mainly). HeavyD
Reply:debt securities equal Bonds
debt securities equal loans
equity securities = shares= common stocks
Reply:Debt securities are usually bonds. And equity securities are securities that are secured by equity in the company, or more commonly known as stock.
Is there actually a legitimate debt consolidation Company out there?
I have a lot of debt ( Ive made A LOT of mistakes in the past two years) and I tried to use one once but when they gave me the name of my lawyer I googled him and it turns out he was a crook! If you have used a good one or know someone who has please let me know! Thanks in advance!
Is there actually a legitimate debt consolidation Company out there?
You are better off doing it yourself. There are some vert good "credit repair" books out there which will teach you how.
do NOT USE credit solutions. I don't know why this person keeps recommending them on this site but they made my situation 100 times worse.
Reply:Yes ...Yourself..It's work but It can be done I did it and I was really in debt..In a year in a half + I went from a Fico score of 500 ish to 746...It was alot of work ,patience and Constancey but I did it
Reply:Call Consumer Credit Counseling Services, they are the largest and oldest non profit credit counseling service in the Country.
You can reach them at 1-800-388-2227.
I used them several years ago and they worked with my creditors to lower both my monthly payments and my interest rate. I was debt free in 36-months.
Reply:You are better off handling it yourself. If you use one of these companies you are still responsible for the debt. If they dont pay your creditors you still owe them and they can sue you not the company you use.
Reply:Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.
Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.
Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.
In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.
If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:
http://axalda.info/debt-consolidation.ht...
Is there actually a legitimate debt consolidation Company out there?
You are better off doing it yourself. There are some vert good "credit repair" books out there which will teach you how.
do NOT USE credit solutions. I don't know why this person keeps recommending them on this site but they made my situation 100 times worse.
Reply:Yes ...Yourself..It's work but It can be done I did it and I was really in debt..In a year in a half + I went from a Fico score of 500 ish to 746...It was alot of work ,patience and Constancey but I did it
Reply:Call Consumer Credit Counseling Services, they are the largest and oldest non profit credit counseling service in the Country.
You can reach them at 1-800-388-2227.
I used them several years ago and they worked with my creditors to lower both my monthly payments and my interest rate. I was debt free in 36-months.
Reply:You are better off handling it yourself. If you use one of these companies you are still responsible for the debt. If they dont pay your creditors you still owe them and they can sue you not the company you use.
Reply:Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.
Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.
Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.
In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.
If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:
http://axalda.info/debt-consolidation.ht...
How do I write a debt validation letter?
Other than with credit card companies, can you also use a debt validation letter for student loans and mobile phones? Thank you in advance.
How do I write a debt validation letter?
Check out the links below...these should help.
Reply:Maybe looking it up first wasn't an option.
How do I write a debt validation letter?
Check out the links below...these should help.
Reply:Maybe looking it up first wasn't an option.
How big is this debt that Bush is leaving to the next President?
How much money has Bush borrowed and is he leaving the debt for the next President to pay?
Why doesn't the next President borrow some more ?
How big is this debt that Bush is leaving to the next President?
don't concern yourself about the financial problems this president will leave what is more of a worry is the unstable situation he has placed the West in, we now have no allies in the East.
Pakistan Iran Afghanistan and yes even Russia all hate the West, we in Britain under the leadership of Mr Blair followed Bush and marched into Iraq ( a big mistake) America under Bush showed what arrogant bullies they were, the only good thing is a lot of decent Americans disagreed with the war but he went ahead anyway.I hope that the next tenant of the White house will be more of a peace maker because if not I believe we will soon see an uprising in the east against the west I pray that peace will prevail .It is said we will soon go through a recession lets pray this will be the only bad times we will go through. I pray for peace for all the world.
Reply:Well, the debt is very large, but let's not act like it is Bush's debt. There has almost always been debt, and the pres. doesn't make most spending decisions, they are voted on by the congress. Know that I am not a great Bush supporter, I just don't think it's fair to say that Bush has left this debt. There's a much larger responsibility
Reply:What debt?
Sure?
Not zeroes?
In pulling the slot machine?
Having hit the jackpot?
Should have borrowed more earlier.
Until the banker go broke with the jackpot.
Having all sevens on the slot machine.
Luke 8.10,17
What do you think?
Reply:the 'surplus' clinton supposedly handed bush was not. it was creative accounting, playing with SS.
Bush does not 'own' 9/11 or the subsequent necessary wars.
Bush did not make natural disasters of the like the US has seen in the last 8 years.
Reply:The next President will not have a hard act to follow. Particularly if he wants to play to the extremist Gallery of the anti-west terrorists.
Reply:About 14 trillion dollars, a world record by any standard. But people who voted for Bush need not worry because I am sure they are on welfare for the mentally handicapped.
Reply:It is not so much Bush as al Qaeda and friends. Also, the Medicare Part D is quite expensive -- but this is mostly a creature of Congress.
Reply:Congress, both Dems and Republicans, have made this problem worse. Democrats continue to propose and pass more spending and the Republicans are too wimpy to stop them.
Reply:lets keep in mind that bush was also handed a debt, and although he should have vetoed a lot of bills to save $ our debt was a bipartisan effort.
Reply:Want the total debt or the limited debt used for a Democrat President?
Reply:About 3% of our GDP.
Presidents don't 'borrow', congress spends.
Reply:100,000,000,000+ is my guess.
Reply:For the war. Do you know what 9/11 cost America.
Reply:Couple Trill'
Reply:about the same Thatcher/John Major left Blair
myspaces.com
Why doesn't the next President borrow some more ?
How big is this debt that Bush is leaving to the next President?
don't concern yourself about the financial problems this president will leave what is more of a worry is the unstable situation he has placed the West in, we now have no allies in the East.
Pakistan Iran Afghanistan and yes even Russia all hate the West, we in Britain under the leadership of Mr Blair followed Bush and marched into Iraq ( a big mistake) America under Bush showed what arrogant bullies they were, the only good thing is a lot of decent Americans disagreed with the war but he went ahead anyway.I hope that the next tenant of the White house will be more of a peace maker because if not I believe we will soon see an uprising in the east against the west I pray that peace will prevail .It is said we will soon go through a recession lets pray this will be the only bad times we will go through. I pray for peace for all the world.
Reply:Well, the debt is very large, but let's not act like it is Bush's debt. There has almost always been debt, and the pres. doesn't make most spending decisions, they are voted on by the congress. Know that I am not a great Bush supporter, I just don't think it's fair to say that Bush has left this debt. There's a much larger responsibility
Reply:What debt?
Sure?
Not zeroes?
In pulling the slot machine?
Having hit the jackpot?
Should have borrowed more earlier.
Until the banker go broke with the jackpot.
Having all sevens on the slot machine.
Luke 8.10,17
What do you think?
Reply:the 'surplus' clinton supposedly handed bush was not. it was creative accounting, playing with SS.
Bush does not 'own' 9/11 or the subsequent necessary wars.
Bush did not make natural disasters of the like the US has seen in the last 8 years.
Reply:The next President will not have a hard act to follow. Particularly if he wants to play to the extremist Gallery of the anti-west terrorists.
Reply:About 14 trillion dollars, a world record by any standard. But people who voted for Bush need not worry because I am sure they are on welfare for the mentally handicapped.
Reply:It is not so much Bush as al Qaeda and friends. Also, the Medicare Part D is quite expensive -- but this is mostly a creature of Congress.
Reply:Congress, both Dems and Republicans, have made this problem worse. Democrats continue to propose and pass more spending and the Republicans are too wimpy to stop them.
Reply:lets keep in mind that bush was also handed a debt, and although he should have vetoed a lot of bills to save $ our debt was a bipartisan effort.
Reply:Want the total debt or the limited debt used for a Democrat President?
Reply:About 3% of our GDP.
Presidents don't 'borrow', congress spends.
Reply:100,000,000,000+ is my guess.
Reply:For the war. Do you know what 9/11 cost America.
Reply:Couple Trill'
Reply:about the same Thatcher/John Major left Blair
myspaces.com
How can I consolidate or eliminate my debt?
I have about 4,000 in credit card debt (a combined total from store credit cards). I haven't been able to make any payments in a few months and I have people calling my house all hours of the day and night. I have bad credit now so I can't get any loans. What is the best way I can consolidate these cards with my bad debt?
How can I consolidate or eliminate my debt?
Read Dave Ramsey's "Total Money Makeover" and start snowballing on your debt.
Reply:Try this. You probably won't be able to get a new credit card, so you will need to approach one of the banks whose card you already have. They will consolidate the cards. Then, have your salary paid directly into your credit card account. Yep, the whole lot. Then use your credit card for your everyday expenses. Rent, food, fuel etc. Withdraw a minimal amount cash for incidentals, and leave it at home. Don't take your credit card out with you. Don't be embarrassed to tell your friends of your predicament, as they could be in a similar situation. If you stick to this, your debt will reduce remarkably quickly. Be sure to destroy all other credit cards. Good luck, you have taken the first step.
How can I consolidate or eliminate my debt?
Read Dave Ramsey's "Total Money Makeover" and start snowballing on your debt.
Reply:Try this. You probably won't be able to get a new credit card, so you will need to approach one of the banks whose card you already have. They will consolidate the cards. Then, have your salary paid directly into your credit card account. Yep, the whole lot. Then use your credit card for your everyday expenses. Rent, food, fuel etc. Withdraw a minimal amount cash for incidentals, and leave it at home. Don't take your credit card out with you. Don't be embarrassed to tell your friends of your predicament, as they could be in a similar situation. If you stick to this, your debt will reduce remarkably quickly. Be sure to destroy all other credit cards. Good luck, you have taken the first step.
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