I was wondering how much does it cost to pay a debt consolidation company to help you, because I want to know if it%26#039;s worth it. I%26#039;m in so much debt making barely and I don%26#039;t know what else to do. On payday I usually just have 100-200 dollars to myself because the rest goes to my bills.
How much does it cost generally to pay a debt consolidation company?
Credit Counselors charge between $10-$50/month and get your interest rates cut a bit.
Debt Settlement companies usually charge about 15% of what you owe over the term of your program.
A mortgage debt consolidation will cost you from 1% to 4% of the amount you refinance.
What you should really look at is what is the total cost to get debt free, how long the program will take, and how low each can get your monthly payment.
Try to get a free consultation from someone, this page had a good review of your options and considerations so you choose the right path for your situation:
http://www.bills.com/blog/consolidate-de...
Reply:Sorry to hear about your struggles, however there are better ways out than going through a debt consolidation company. So many of these places are ripoffs that take your money. Sit down and make a budget, starting with necessities first. See how much money you actually have to pay your debt. Decide how much you can pay each creditor and call them up and explain this. Ask them to lower your interest rate and show them your budget and they%26#039;ll work with you. Go see Dave Ramsey%26#039;s web site. www.daveramsey.com and buy the book total money makeover for $15. Good book on budgeting and understanding money. It will help you get this taken care of. Good luck!
Reply:A lot of times they take you are charged a percent of whatever you are saving (you%26#039;ll still end up saving in the long run). You can also look into certain non-profit debt help agencies that will not cost you. Read more at http://gettingthroughdebt.blogspot.com
Reply:Be vary wary of debt consolidation companies as they will often charge you very large fees and make you go deeper into debt, rather than helping you get out. This page offers some great advice on practical ways to get out of debt: http://www.mahalo.com/How_to_Get_Out_of_...
Reply:
possess as much information as you could maybe is one of the options,however it is quite time consuming,here http://www.DebtFreetips.info/debt-free.h... is the resource i have ever had good experience.
Reply:depends on the company but its usually its a one time fee.
Monday, April 20, 2009
What is the difference between Corporate Bonds and Corporate Debt Funds?
For example I can buy shares of the exchange traded fund: IShares S%26amp;P US Preferrd Stock Index Fund (PFF), which is classified as a Corporate Debt Funds BBB-Rated.
Is a corporate debt fund like PFF a collection of corporate bonds?
Thanks !
What is the difference between Corporate Bonds and Corporate Debt Funds?
Sort of but not exactly. It is a collection of preferred stock, which are sort of a debt and in fact many times classified as debt but are further down on the food chain when it comes to bankruptcy proceedings than corporate bonds. Generally, preferred stock holder get nothing whereas corporate bond holders might bet a pertinence. Another difference is the tax consequences. A portion of the income from this fund will be taxed at the current preferred rate whereas bond interest is not.
Is a corporate debt fund like PFF a collection of corporate bonds?
Thanks !
What is the difference between Corporate Bonds and Corporate Debt Funds?
Sort of but not exactly. It is a collection of preferred stock, which are sort of a debt and in fact many times classified as debt but are further down on the food chain when it comes to bankruptcy proceedings than corporate bonds. Generally, preferred stock holder get nothing whereas corporate bond holders might bet a pertinence. Another difference is the tax consequences. A portion of the income from this fund will be taxed at the current preferred rate whereas bond interest is not.
How much mortgage debt is there in the USA?
Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let%26#039;s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.
Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.
How much mortgage debt is there in the USA?
You bring up an important question. The best data I can find on the %26#039;net are figures for 2003 (USA Today) - nothing newer available according to them. If that number is correct then the total mortgage debt in the US, 2003, $6.3 trillion. Some adjustments must be made for the past four years- higher, I%26#039;m sure.
Lots of bucks out there!!
Reply:At the end of 2007 total home mortgage debt in the USA was11.2 trillion. Of that 6.5 trillion was used for home mortage-backed securities. For comparison, 53 trillion is our national debt; 180 trillion is the value of derivative andhedge funds combined. Source: Financial Securities Fact Book. Report Abuse
Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.
How much mortgage debt is there in the USA?
You bring up an important question. The best data I can find on the %26#039;net are figures for 2003 (USA Today) - nothing newer available according to them. If that number is correct then the total mortgage debt in the US, 2003, $6.3 trillion. Some adjustments must be made for the past four years- higher, I%26#039;m sure.
Lots of bucks out there!!
Reply:At the end of 2007 total home mortgage debt in the USA was11.2 trillion. Of that 6.5 trillion was used for home mortage-backed securities. For comparison, 53 trillion is our national debt; 180 trillion is the value of derivative andhedge funds combined. Source: Financial Securities Fact Book. Report Abuse
How is debt sold by our government to other countries?
How does the debt system work, what happens when the other countries buy our debt, can they sell our debt to other countries, can they force us to pay our debts at any given time, please explain how the national debt system works?
Thanks, I need lots of details and really want to understand so thanks again for your help!
How is debt sold by our government to other countries?
Other countries buy bonds or Treasury Direct Securities from the US Treasury.
Reply:Its a wash. Normally a nation, not normally ours but we drew the short stick, borrows 30 BN$$$, time goes by another disaster, more aid needed, whatever occurs, I%26#039;ve yet to see any nation pay its debts back. Of course they can sell it to other countries but the 3rd Party is beholden to the 1st Party, the 2nd Party is beholden only to the 1st.
Reply:They buy our BONDS which are backed by the US Treasury. All BONDS are debt or I.O.U.s
Thanks, I need lots of details and really want to understand so thanks again for your help!
How is debt sold by our government to other countries?
Other countries buy bonds or Treasury Direct Securities from the US Treasury.
Reply:Its a wash. Normally a nation, not normally ours but we drew the short stick, borrows 30 BN$$$, time goes by another disaster, more aid needed, whatever occurs, I%26#039;ve yet to see any nation pay its debts back. Of course they can sell it to other countries but the 3rd Party is beholden to the 1st Party, the 2nd Party is beholden only to the 1st.
Reply:They buy our BONDS which are backed by the US Treasury. All BONDS are debt or I.O.U.s
Debt ?????
IM looking for a good company that can help me out with my debts. I have over £10000 worth of debt to different things like credit cards and unsecured loans. Does anyone know of a company that could help me out with either a loan or a debt management.
Debt ?????
Ive mentioned this before on one of these threads i used a company called Morrison Clarke (www.morrisonclarke.co.uk) and they offer various financial services. They helped me obtain a loan when i had hardly any income. I think they also offer Debt Management aswell. you can fill in a form on their website and they will give you a call back. Hope this sorts your problem out.
Reply:OK.....does anyone else think that this is just an advert for Morrison Clarke? Report Abuse
Reply:Hmmm, maybe. And giving somebody a loan when they hardly have any income is a risky business. Thats why the majority of us are in the $hit in the first place. Its called irresponsible lending! Report Abuse
Reply:Anyone know of something like that in the US? Report Abuse
Reply:Yes, that sounds suspiciously like an advertisement. Report Abuse
Reply:lol i though that as soon as i read it...haha.. me thinks im not going there!!! Report Abuse
Reply:Consumer Credit Counselling service(cccs). They are a government run company so you dont get charged for using the service. They are really good they will ask you about the debt you owe who you owe it to and when the debt was taken out,then they will agree a monthly amount you can afford and they will distribute it to all your different creditors. You will feel so much better when you have made that call,you will wonder why you have waited this long. There telephone number is 0856 272 5400. Good luck and make that life changing phone call today..
Reply:we are all in debt mate. them companies charge alot and you will end up paying more so your better off trying to work it out your self or getting a financial advisor which would be cheaper in the long run
Reply:you should visit a local Citizen%26#039;s Advice Bureau. they can offer free help and have debt specialists to help you find the best solution to your problem, they can also negotiate with creditors on your behalf to arrange repayment plans etc, and help challenge any debts you don%26#039;t agree with.
they may also run sessions on money matters, budgeting, and better financial planning and spending!
just ask them, their advice is free - and if you don%26#039;t want to you don%26#039;t have to follow what they suggest so you%26#039;ve got nothing to lose!
they also have some info on their website, and you can search for your nearest bureau...
Reply:mate Lisa p said it the only good place to go its free and they will sort you right out. freeze interest and charges etc.. get on there site or phone them!!!
Reply:I%26#039;m with a good one pay plan..they don%26#039;t charge a fee, and are very good!!! http://www.payplan.co.uk
You only pay what you can afford, and all what you pay goes directly to your creditors, you can even check on line where your payments are going each month. most debt management agencies charge a fee, but pay plan doesn%26#039;t...try it..you won%26#039;t be disappointed!
Reply:Income £1000 outgoings £1001 result misery.
Income £1000 outgoings £999 result happiness.
This how I live and have never been in debt.
Go to citizens advice to help you present problem then live like I do. No more problems
Reply:i think you should visit www.debts.org.uk they give free advice.
i hope this helps.
Reply:I hope this would help you:
Credit Counseling Programs
http://www.complete-debt-info.com/catego...
Reply:?
Reply:Visit your local Citizens Advice for good FREE advice. Ask to see a specialist if possible.
Do not pay anyone for the help you need. There are a lot of unscrupulous organisations only too willing to take you 9and your money for a ride.
Reply:Consumer Credit Councelling Services. Good honest advice.
http://www.cccs.co.uk/
Reply:you can always give the citizens advice bureau a try...they can contact all your creditors and attempt to negotiate payment schemes
Debt ?????
Ive mentioned this before on one of these threads i used a company called Morrison Clarke (www.morrisonclarke.co.uk) and they offer various financial services. They helped me obtain a loan when i had hardly any income. I think they also offer Debt Management aswell. you can fill in a form on their website and they will give you a call back. Hope this sorts your problem out.
Reply:OK.....does anyone else think that this is just an advert for Morrison Clarke? Report Abuse
Reply:Hmmm, maybe. And giving somebody a loan when they hardly have any income is a risky business. Thats why the majority of us are in the $hit in the first place. Its called irresponsible lending! Report Abuse
Reply:Anyone know of something like that in the US? Report Abuse
Reply:Yes, that sounds suspiciously like an advertisement. Report Abuse
Reply:lol i though that as soon as i read it...haha.. me thinks im not going there!!! Report Abuse
Reply:Consumer Credit Counselling service(cccs). They are a government run company so you dont get charged for using the service. They are really good they will ask you about the debt you owe who you owe it to and when the debt was taken out,then they will agree a monthly amount you can afford and they will distribute it to all your different creditors. You will feel so much better when you have made that call,you will wonder why you have waited this long. There telephone number is 0856 272 5400. Good luck and make that life changing phone call today..
Reply:we are all in debt mate. them companies charge alot and you will end up paying more so your better off trying to work it out your self or getting a financial advisor which would be cheaper in the long run
Reply:you should visit a local Citizen%26#039;s Advice Bureau. they can offer free help and have debt specialists to help you find the best solution to your problem, they can also negotiate with creditors on your behalf to arrange repayment plans etc, and help challenge any debts you don%26#039;t agree with.
they may also run sessions on money matters, budgeting, and better financial planning and spending!
just ask them, their advice is free - and if you don%26#039;t want to you don%26#039;t have to follow what they suggest so you%26#039;ve got nothing to lose!
they also have some info on their website, and you can search for your nearest bureau...
Reply:mate Lisa p said it the only good place to go its free and they will sort you right out. freeze interest and charges etc.. get on there site or phone them!!!
Reply:I%26#039;m with a good one pay plan..they don%26#039;t charge a fee, and are very good!!! http://www.payplan.co.uk
You only pay what you can afford, and all what you pay goes directly to your creditors, you can even check on line where your payments are going each month. most debt management agencies charge a fee, but pay plan doesn%26#039;t...try it..you won%26#039;t be disappointed!
Reply:Income £1000 outgoings £1001 result misery.
Income £1000 outgoings £999 result happiness.
This how I live and have never been in debt.
Go to citizens advice to help you present problem then live like I do. No more problems
Reply:i think you should visit www.debts.org.uk they give free advice.
i hope this helps.
Reply:I hope this would help you:
Credit Counseling Programs
http://www.complete-debt-info.com/catego...
Reply:?
Reply:Visit your local Citizens Advice for good FREE advice. Ask to see a specialist if possible.
Do not pay anyone for the help you need. There are a lot of unscrupulous organisations only too willing to take you 9and your money for a ride.
Reply:Consumer Credit Councelling Services. Good honest advice.
http://www.cccs.co.uk/
Reply:you can always give the citizens advice bureau a try...they can contact all your creditors and attempt to negotiate payment schemes
How does being referred to a debt collector affect my credit?
I just got a letter from a debt collection agency, giving me a certain amount of time to pay a bill. Will this negatively affect my credit score?
How does being referred to a debt collector affect my credit?
Good question.
If you have received a letter from a debt collection agency, it already has affected your credit.
Your choices are:
-- make it worse.
-- make it better.
If you want to make it worse, just ignore it. As a consequence, it will be years before you get (or get at a reasonable rate) a car loan, a credit card, an apartment, decent auto insurance.
If that doesn%26#039;t sound appealing, you%26#039;ve goto to deal with it.
No. 1: Assess the damage. Go to www.annualcreditreport.com to get your free annual credit report that the 3 major credit bureaus must, by law, provide you each year. Is the debt correctly reported? If not, dispute it. If it%26#039;s accurate negative information, get used to the idea that it will stick with you for the next 7 years.
No. 2: Read up on your rights under the Fair Debt Collection Practices Act. There are lots of collection agencies that try to harrass you into payment, but they have rules they have to follow. Be familiar with them so you don%26#039;t put up with any illegal tactics. Yes, if you owe the bill, you%26#039;re legally and morally obliged to pay, but that doesn%26#039;t mean you have to suffer. Go to the Federal Trade Commission%26#039;s page http://www.ftc.gov/bcp/conline/pubs/cred... to get an introduction.
3. Call the debtor and negotiate a payment plan -- one you can REALLY live with. Make sure you get, in writing, a guarantee that the agency will report your on-time payments to the credit bureaus.
4. Follow through. Pay your payments on time. Watch your credit score heal.
Reply:You will probably be reported as %26quot;in collections%26quot; to the credit bureau(s). It will certainly reduce your credit score - for years to come.
***
Reply:yes unfortunately it will
Reply:First thing, you have 30 days to dispute the validity of the debt. If it%26#039;s yours, pay it. If not, dispute it IN WRITING.
Most collection agencies are not credit reporting agencies. They%26#039;ll run an inquiry on you, pull your report, but that%26#039;s about it (some report, but not all). However the fact that your original creditor reported it to an agency will drop your score.
Get it taken care of quick. If you can settle, do it (you%26#039;ll pay more up front, but they won%26#039;t bug you). Payments are ok, but don%26#039;t miss one or bounce a check, otherwise your agreement is void, and they%26#039;ll go after the whole balance.
If anything, send a letter to validate the debt certified mail first before you do anything. Also tell them you want no telephone contact at your home, or job (include spouse if necessary), and deal with you by mail. If it%26#039;s under dispute, they CAN%26#039;T proceed until it%26#039;s valid, nor can they force you to pay any amount under dispute, only what you say is in fact yours.
Good luck.
myspaces.com
How does being referred to a debt collector affect my credit?
Good question.
If you have received a letter from a debt collection agency, it already has affected your credit.
Your choices are:
-- make it worse.
-- make it better.
If you want to make it worse, just ignore it. As a consequence, it will be years before you get (or get at a reasonable rate) a car loan, a credit card, an apartment, decent auto insurance.
If that doesn%26#039;t sound appealing, you%26#039;ve goto to deal with it.
No. 1: Assess the damage. Go to www.annualcreditreport.com to get your free annual credit report that the 3 major credit bureaus must, by law, provide you each year. Is the debt correctly reported? If not, dispute it. If it%26#039;s accurate negative information, get used to the idea that it will stick with you for the next 7 years.
No. 2: Read up on your rights under the Fair Debt Collection Practices Act. There are lots of collection agencies that try to harrass you into payment, but they have rules they have to follow. Be familiar with them so you don%26#039;t put up with any illegal tactics. Yes, if you owe the bill, you%26#039;re legally and morally obliged to pay, but that doesn%26#039;t mean you have to suffer. Go to the Federal Trade Commission%26#039;s page http://www.ftc.gov/bcp/conline/pubs/cred... to get an introduction.
3. Call the debtor and negotiate a payment plan -- one you can REALLY live with. Make sure you get, in writing, a guarantee that the agency will report your on-time payments to the credit bureaus.
4. Follow through. Pay your payments on time. Watch your credit score heal.
Reply:You will probably be reported as %26quot;in collections%26quot; to the credit bureau(s). It will certainly reduce your credit score - for years to come.
***
Reply:yes unfortunately it will
Reply:First thing, you have 30 days to dispute the validity of the debt. If it%26#039;s yours, pay it. If not, dispute it IN WRITING.
Most collection agencies are not credit reporting agencies. They%26#039;ll run an inquiry on you, pull your report, but that%26#039;s about it (some report, but not all). However the fact that your original creditor reported it to an agency will drop your score.
Get it taken care of quick. If you can settle, do it (you%26#039;ll pay more up front, but they won%26#039;t bug you). Payments are ok, but don%26#039;t miss one or bounce a check, otherwise your agreement is void, and they%26#039;ll go after the whole balance.
If anything, send a letter to validate the debt certified mail first before you do anything. Also tell them you want no telephone contact at your home, or job (include spouse if necessary), and deal with you by mail. If it%26#039;s under dispute, they CAN%26#039;T proceed until it%26#039;s valid, nor can they force you to pay any amount under dispute, only what you say is in fact yours.
Good luck.
myspaces.com
What is the best way to get rid of debt?
I have been making inquiries with these debt companies. They take over your debts and you pay them a monthly fee. Can anyone tell me the best company to go with.
What is the best way to get rid of debt?
I wouldn%26#039;t do that. If it%26#039;s like consolidation-type stuff, they just charge you lots of interest so in the end, your credit could still end up ruined if you can%26#039;t pay them off.
Try credit counselors or really, if I were you, I%26#039;d talk to them myself. One time we were really behind in a bill with Rent-a-center. I mean, REALLY behind. We owed them like $500. My husband%26#039;s brother was murdered in St. Louis and we had to go there on a bus, which took all of our money. Well, my husband was avoiding Rent-a-Center when we got back but I finally said f_ck it and just talked to them. I was able to get the guy to just forgive the entire amount we owed and re-draw up the contract and we only had to pay like $60. We had had good payment history with them up until that couple of months where we faltered. The thing to remember is they just want their money and they will usually be willing to work with you. Try talking to the companies you owe money to and just see what they say.
And by the way... sometimes you%26#039;ll get an a.s.s.hole on the phone. If you speak with someone not willing to help or negotiate, there is no law that says you can%26#039;t call back and talk to someone else. That often works WONDERS. Good luck!
Reply:I%26#039;ve just finished making a research about %26quot;debt relief%26quot; programs, turned out that about 75% of these agencies will not help you in anyway infact they might put you in even more debt, and i%26#039;ve found out that the best way to actually get rid of debt or more like make it easier to pay is %26quot;non profit credit counsiling agencies%26quot; which are located all over the united states.
i will add some helpfull websites, one is your answer to debt relief agencies and the other one is to find a good credit counsiling agencies.
I hope my answer was helpfull and good luck to you and me in our debt.
Reply:
I was in debt about till about 6 months ago. I found this free E-Book that basically answered every single one of my question and helped me get totally out of debt. Its at http://www.inarinbows.com/debt .It was %100 free and within 20 seconds your emailed both ebooks. I now am able to answer the phone every time it rings and actually know for the first time in my life its not a creditor.check out http://www.inarinbows.com/debt
Reply:there%26#039;s no company that will settle your debts for you. it%26#039;s you if you will talk to them and settle these things
Reply:none of them. talk to your creditors and arrange with them. toughest but cheapest.
What is the best way to get rid of debt?
I wouldn%26#039;t do that. If it%26#039;s like consolidation-type stuff, they just charge you lots of interest so in the end, your credit could still end up ruined if you can%26#039;t pay them off.
Try credit counselors or really, if I were you, I%26#039;d talk to them myself. One time we were really behind in a bill with Rent-a-center. I mean, REALLY behind. We owed them like $500. My husband%26#039;s brother was murdered in St. Louis and we had to go there on a bus, which took all of our money. Well, my husband was avoiding Rent-a-Center when we got back but I finally said f_ck it and just talked to them. I was able to get the guy to just forgive the entire amount we owed and re-draw up the contract and we only had to pay like $60. We had had good payment history with them up until that couple of months where we faltered. The thing to remember is they just want their money and they will usually be willing to work with you. Try talking to the companies you owe money to and just see what they say.
And by the way... sometimes you%26#039;ll get an a.s.s.hole on the phone. If you speak with someone not willing to help or negotiate, there is no law that says you can%26#039;t call back and talk to someone else. That often works WONDERS. Good luck!
Reply:I%26#039;ve just finished making a research about %26quot;debt relief%26quot; programs, turned out that about 75% of these agencies will not help you in anyway infact they might put you in even more debt, and i%26#039;ve found out that the best way to actually get rid of debt or more like make it easier to pay is %26quot;non profit credit counsiling agencies%26quot; which are located all over the united states.
i will add some helpfull websites, one is your answer to debt relief agencies and the other one is to find a good credit counsiling agencies.
I hope my answer was helpfull and good luck to you and me in our debt.
Reply:
I was in debt about till about 6 months ago. I found this free E-Book that basically answered every single one of my question and helped me get totally out of debt. Its at http://www.inarinbows.com/debt .It was %100 free and within 20 seconds your emailed both ebooks. I now am able to answer the phone every time it rings and actually know for the first time in my life its not a creditor.check out http://www.inarinbows.com/debt
Reply:there%26#039;s no company that will settle your debts for you. it%26#039;s you if you will talk to them and settle these things
Reply:none of them. talk to your creditors and arrange with them. toughest but cheapest.
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