Debt consolidation and Elimanation

I have funded the operation of a corporation that operates in Howard County, Maryland. It is a sub-s Corporation that is incorporated in the State of Delaware. I have provided funding for several years to help the company meet its payroll and other expenses. I am not a shareholder or on the board of directors. I have deposited money directly into the company account and havecancelled checks as proof as well as several employees of the corporation that have witnessed this.

A judgment may be filled for the full amount of which is owed, and in some cases interest may also be attached to the debt. This isn't a difficult process, but it isn't quick. Contact your lawyer and get the ball rolling then settle in for the long haul.

Good Luck

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The United States has announced a rescue fund to help alleviate bank debt. President George Bush has pledged billions of dollars to help resolve the global credit crisis the worst since 1930s. But will it help? And how will it function?

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I would like more info on how filing for bankruptcy is done? My husband an I have alot of debt. I hurt my back in 2004. We paid for medical bills using our credit cards thinking I would be able to get back to work in no time. With him the only one working at the time we kept using the credit cards to pay for my meds and now we are at our limit and he has been let go from his job he had for over 10 years. This isn't the first time they let him go but this time its for good. While we are waiting to hear about unemployment and if it will go threw we have little cash and lots of unpaid bills. We don't know where to begin an losing hope fast. Has anyone been threw this and found a way to pay off debt or lower the interest rates? We are wanting more into on filing for bankruptcy and if we don't own anything "put up our car to pay off some of the medical bills" how does filing for bankruptcy work? Do you have to pay the money back after you file? After 7yrs will we ever have a good credit?

First, you have to take a financial management class approved by the Trustee before you can file for bankruptcy….don't get a lawyer yet…..second, you may not qualify for Chap7 if your husband's income was above the state median…They look at the last 6 mos of income…so if he was just laid off….that won't count.

Finally, if you are currently paying your bills (minimums) on time and you own your home…..maybe a refi w/ cash out or equity line of credit is the way to go…..

IF you get into Chap7 - your case will be reviewed and if there are no objections your debts are DISCHARGED (dismiss is bad).

If you go into Chap13 - a plan is proposed based on your disposable income to make monthly payments to the trustee for 5 years……after that the remaining balances are DISCHARGED.

It is imperative that you get all three credit reports because IF you do file, you must list every creditor you can think of……If you leave one out - IT IS NOT discharged….so if you borrowed money from Aunt Edna and didn't pay it back 10 years ago,,,,list her!!

You can file Pro Se - the paperwork is intimidating, but straightforward, and you should be able to get the docs from the Bankruptcy Court in your district or buy them at Office Depot.

The forms are the same - it's the federal vs. state rules you will need to read about for your state…..

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I have debt in the amount of $7000 that has been sent to collection agencies about three years ago. Two were credit cards, one a cell phone bill.

I desperately need to improve my credit score. Will it help if I start paying this debt to the collection agaencies? I read somewhere that it does not matter whether you pay collection debt off or not since they stay in your credit file for seven years anyways. Is this true? How important is it?

Also, what are other things I should do in order to improve my credit score at this point? At the moment I don't get approved for any credit due to my low score.

Any suggestions really appreciated!!!

A collection is a collection, paid or not.

The only way this will help your credit score is if the collection agencies agree to remove the negative entries from your credit report(s).

What happens is that if you pay with out deletion, the date of last activity is renewed when you make the payment. This drops your credit score and restarts the 7 year clock.

Send an offer in writing to pay if they agree to remove the negative entries. If they agree, pay as agreed. If they do not agree, or say they will but refuse to put it in writing, leave the debts alone. Time will remove the negative affect this has on your credit score. Only offer to pay what you can afford in a lump sum, they will not take payments if you are trying to get the entries removed.

Send all correspondence certified return receipt mail and never deal with collection agencies over the phone.

As of today, they stand to fall off your credit reports in 4 years (according to your estimate). Any payments, even partial will restart the 7 year clock, due to new activity. They will then fall off 7 years from the date the payment is reported. Why prolong the damage.

Try applying for Orchard Bank. They are among the best for rebuilding credit.

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How can I lower my debt? How can I increase my savings? Wouldn’t it be nice to know who to ask?

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I am a soph. in college and make some big mistakes with my credit cards. I maxed out 3 worth 3,000 a piece. I am working with one of the credit card companies with payments as we speak, the other 2 have been sent to collection agencies. I work full time as well. I dont know the best way to go about this but I want to resolve this logcially and as quickly as possible. Is it possible for my bank to help me? Or should I try something else?

The only way your bank can help you is to approve you for a personal, or debt consolidation loan. However, because you have 2 credit card accounts in collection your approval chances are low. You may want to join a debt consolidation company where they help to you to pay your bills at a budget you can afford. Some peole say it's a con some say otherwise. Do your own research and see if that's the right choice for you. You can also try calling the creditors to see if they'll make some sort of payment arrangemenets with you. They'll most likely work something out with you because they'd rather have a payment instead of none.

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Are these bank collapses some sort of banking scam, or is this just part of how our banking system is operated?

Do you really understand how the banking industry works in this country?

Why is a run on the bank such a disaster?

Hasn’t the bank had to take in just as much deposits as they have out in loans?

Doesn’t everything more or less balance out after a bank is sold off?

The news is always talking about this enormous national debt that the US owes, Who exactly is that owed to?

These very educational videos will help shed some light on all these questions. If you are worried about the future of this country in light of yet another banking collapse, help yourself by understanding how our banking system works.

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What is the average amount of debt in america. including the people not in debt and the ones in it?

Total American household consumer debt averaged $11,840 in 2005

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I need this answer as soon as possible …please if you answer this question ..let me know quickly…thanks for your help.

you can ask to freeze any interest to help you make repayments.
you'll have to say how much incomings and outgoings you have

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