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Getting Out Of Debt Homepage
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What can I do about old debts?
I have some debts that are 12 years old that occurred right after my husband died and I was left with 5 children to raise. I have tried through the years to make small payments here and there, but have been unable to pay them off and I am in court about every 6 months to a year. None of these are credit card debt, so credit counselors aren't interested. Mostly they are landlord judgments, utilities, cable and a huge one to the bank for a few checks that bounced and that I never agreed with on the amount, but that bank no longer exists Norwest . I offered a settlement to which they denied. I haven't been able to find work in over a year and I just don't know what to do anymore. All of the debts together are a little over $2, 000, not including landlord judgments those are about $1,500 . I am graduating from college in a few months and will be taking on more debt. I am beginning to think there are only two ways out, win the lottery or die. I know those are irrational, but I feel trapped. Any helpful advice from people who work in debt collecting or who have dealt with this situation themselves would be helpful and appreciated.
Statute of Limitations for a specific credit card debt?
So I know the statute of limitations for credit card debt for my state of residence where I acquired the debt is 3 years but do credit card companies instead use the statute of limitations for the state THEY are based in? Also, how can I find out exactly when the statute of limitations will expire for a specific credit card debt of mine? Like, does the 3 year clock start ticking at the time of the last activity on my account? I have heard that they can reset the statute of limitations too, when do they do this? If I make a payment? Or if I even acknowledge the debt? and how can I find out if it has been reset for my debt? I guess I'm just trying to find out the exact date that my debt will be considered time barred if I continue to ignore the creditors...I realize this isn't the best way to handle this but I have no income, no assets, and a pile of student loans to pay off...there is nothing they can sue me for so I would rather just ignore all the phone calls until I can finally just negotiate down to paying only 40 % of it or something.Also, what about when the credit card company sells my debt off to a collecting agency so that I no longer owe a debt to that credit card company? then what is the case for a statute of limitations? Is it only letters that keep the statute going indefinitely or do ignored calls count as well?
Is it worth paying debt already in collections?
To be more specific, does it make much of a difference on your credit report if it's paid or not since it's already there as " potentially negative information" . I know it goes away after 7 years. Even if it's noted on the credit report as being there, but IS paid, do loaners take that into consideration or are you screwed either way?Also, I heard that you can probably get a written agreement through negotiation that the collectors will remove the negative info from your 3 reports if you agree to pay it, since a lot of people don't pa it at all. Is that true? If so, would I need to get a recorder phone from radio shack to record the conversation or would the written agreement do just fine? I don't need a letter of validation because I know I owe the debt due to medical bills.
Should I save or pay off debt first?
I have about 15k in credit card debt at very low rates , 20k in student loans, and 0 savings. What should I do? Save for an emergency fund or pay off my debt first?
Credit card debt help!!?
1 individual was sued and lost for $1800.2 Owes $2400 in process of being sued.both accounts handled by lawyers not collection agencies or credit card companies. Individual has no money, no bank accounts but can get some money from family to help settle. how does he go about trying to settle these amounts with the lawyers? can it be settled at all?Where can he find advice, i tried to help but cant find anything Any advice would be appreciated. thanks.
Will medical services still be provided if you've bankrupted debt due them?
I am being forced to file bankruptcy due to other issues. I am making payments on some past medical bills so I was going to list them in the bankruptcy. Will these medical providers still offer me services when I need them even though they have lost money due to me?
When your credit rating is too low and no one wants to help you consolidate, how do you pay off debt?
At one point, we were trying for a loan...it would have paid off all our debt at the same amount per month that I'm currently paying for a car loan. We didn't qualify due to a bad credit rating. Who is willing to work with us without having to declare bankrupcy? We don't want debt solutions as an answer because it means we would lose even more credit rating, right?
OK, guys i have a very serious question concerning debt.?
my husband and i have been married for almost a year, he makes good money, but has this credit card issue, we now have several credit cards maxed out, in fact one was " turned" off and now we have to pay 500 a month and can not even use it till the whole 27,000 balance is paid off..he will not file bankrupcy and will not cut up the cards, after lots of talking he has agreed to let me hide the cards...i need some help in handling this, but most of all i need help setting up a budget. i have been use to having $20 last me a whole week till next payday, my husband is use to having $20 last him thru the day. so we are seeing this very different.
Who do the debt collection agency Scotcall or MEM collect for?
Help to calculate the debt ratio, time interest earned .?
Help to calculate the debt ratio, time interest earned .?Calculate the debt ratio, time interest earned, earnings per share, and the financial leverage index under each alternative, assuming the expected increase in operating profit is realized.Laurel Street, president of Uvalde Manufacturing Inc. is preparing a proposal to present to her board of directors regarding a planned plant expansion that will cost $10 million.At issue is whether the expansion should be financed with debt a long term note at First National Bank of Uvalde with an interest rate of 15 % or through the issuance of common stock 200,000 shares at $50 per share .Uvalde Manufacturing currently has a capital structure of Debt 12 % interest 40,000,000Equity 50,000,000The firm s most recent income statement is presented next Sales $100,000,000Cost of goods sold 65,000,000Gross profit 35,000,000Operating expenses 20,000,000Operating profit 15,000,000Interest expense 4,800,000Earnings before tax 10,200,000Income tax expense 40 % 4,080,000Net income $ 6,120,000Earnings per share 800,000 shares $ 7.65Laurel Street is aware that financing the expansion with debt will increase risk but could also benefit shareholders through financial leverage. Estimates are that the plant expansion will increase operating profit by 20 %.The tax rate is expected to stay at 40 %.Assume a 100 % dividend payout ratio.
What happens if they send a debt of over $1500 to court?
I asked to cancel a membership at a Fitness Center because I volunteered at my local YMCA and got a free year membership. They refused to do so, I signed a contract. I stopped paying my bill, stopped going. I tried to pay 50 a month on my collection but instead went into overdraft in my account. Are they going to collect wages and will it hurt my credit score in any way? I have no credit at all...I'm 22 and I rent. Thanks
Long-term debt as a percentage of shareholder's equity?
Fabulous answers and how to find ROE, now in the same category, what about long term debt as a percentage of shareholder's equity? Is that also listed on the yahoo finance pages?
If two debt agencies merge, is it common to get rebilled for a settled account?
I paid this bill. I heard nothing for over a year and am now getting bills again for it from another company who merged wityh original company. Yes, I called them. they said there is no record. sigh.So, does that happen a lot?I am doing this as a POA for someone else, so I have no previous experience with debt collectors.
Best way to get out of credit card debt?
About a year in a half ago, I moved out on my own and got a credit card, 3k limit. I had a good job working at a bank as a teller and had a good paycheck every other week. After I moved, 3 months later I had to move back because I had to quit my bank job because of harassment issues. When I moved, my debt was 2k. I couldn't make the payments because of the economy and couldn't find a job. Now, it's almost 4k, and they sent it to some kind of collection agency. I have a job now, but I get a $300 paycheck every 2 weeks. I'm also a full time student again. What is the best way to resolve this? Please help
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