How to Get Out of Debt With the Get Out of Debt Guy » repayment plan

How Do I Get the Credit Card Company to Lower My Payment to What I Want? – Sally

Steve Rhode — Fri, 08 Oct 2010 23:00:15 +0000

“Dear Steve,

My husband almost died due to an abscess on his liver. Medical bills piled up. Then he lost his job. Then I lost my job due to budget cuts. Currently my husband is unemployed, and I am working, but for less than my last job. Credit cards were used for everyday items such as food. Had been paying them off monthly at more than minimum. Then, credit card companies raised APR percentage and minimum payments to even more than had been paying them off at more than minimum. Could no longer afford monthly minimum. The credit card has spiraled out of control due to finance charges of $400 a month.

How do I get the credit card company to lower payment to what I want. I can afford $400 a month to pay them off. That is it. There is no more in the budget than that, and that is even with cutting down on food, electricity, etc. I am more than willing to close the account. I have been talking to them for 3 months now to no avail. I want to get rid of this debt!!!!!

Sally”

The Answer:

Dear Sally,

Actually, while you think it makes good common sense for you to enter into a repayment plan that you can afford, sadly the creditors don’t really care. Creditors look at acceptable repayments as what they want, and not necessarily what you can give.

If you’ve already been communicating with them and they have not proposed anything substantial that will work for you then you have three options.

Credit counseling or debt management programs may reduce your payment if you are currently behind. Click here for debt management information. Your payment will be calculated by the creditor formulas that the creditors dictate to the credit counseling groups and not what your budget allows. Talking to a debt management company is a good first step to take to see if it is a solution that will work for you.
Bankruptcy is a legal and logical option if you just can’t get by each month anymore. Sure bankruptcy is painful but so is just making it from month to month without getting ahead at all. Talk to a bankruptcy lawyer and find out what your options are in bankruptcy.
Keep paying the minimum payments or pay the cards off in full. Sure, this approach just leaves you on a treadmill and does not change anything but it is an option if you are not ready to take more drastic action like a debt management program or bankruptcy.

As it stands now, you are perfectly situated to make the creditors a maximum amount of money from jacked up interest and fees. They’d rather see you do that than let you jump down to a payment to better fits your budget. One thought is that they try to extract their pound of flesh, and as much as possible, before you stop paying or go bankrupt so they are going to push you as much as possible before you eventually default.

Big Hug!

@GetOutOfDebtGuy

Lauren is Searching For Ways to Get Out Of Debt And Make Her Bad Credit Go Away

Steve Rhode — Mon, 17 May 2010 07:36:02 +0000

From How to Get Out of Debt

“Dear Steve,

If I find a consolidation company to help me pay my bills will my bad credit go away?

Lauren”

The Answer:

Dear Lauren,

It is usual for people to search for a magic wand that will make their debt go away without impacting their credit report. There really is no such solution, and here’s why.

In order to help keep your credit report and credit score looking good you need to pay your debts as agreed. That means that you need to pay your debts in full or make at least the minimum payment that you contractually agreed to. Any repayment plan outside of that has consequences.

Typically by the time people come to realize they are in financial trouble they are either very maxed out or they’ve been late or missed a payment or two. Those events tend to be the cold water thrown in the face of the person in denial.

By the time those events happen, your credit report and credit score have already taken a hit. So many people go to credit counseling and latter say they were not behind before they went into a debt management program and the reality is, they were but did not remember it.

Eliminating debt and improving your credit score are two different goals. It is a bit like saying that you’d like to set a new land speed record and go scuba diving at the same time. Good goals but not necessarily requiring the same focus or tools.

To get out of debt and avoid bankruptcy you need to come up with a plan that you can sustain over the long course of paying down your debt. Typically this means that you’ll have to make monthly payments but they will be smaller than what the creditor wants. If you could afford the full payment you would not be looking for help, would you? These reduced payments will appear on your credit report and lower your credit score.

If your goal was to repair your credit and make your credit score and credit report look good, it is actually fairly easy to do but you have to at least pay your bills on time, without delay, without reduction and without exception.

When facing difficult debt it would be smarter and wiser to focus on a two stage process. First, seek out the best solution to address your debt. That might be debt management, debt settlement, bankruptcy, a second job, better budgeting, etc. And then once the debt is under control we can rebuild the credit latter.

Let’s plug the hole in the dam first and then we’ll repair it.

Big Hug!

@GetOutOfDebtGuy

The Answer:

I’m in Debt and Talked to CCCS and They Said They Could Not Help Me. – Ray

Steve Rhode — Mon, 08 Mar 2010 21:01:38 +0000

From How to Get Out of Debt

Ray

“Dear Steve,

I have about $75,000 in credit card debt on 3 cards. I know I have been spending beyond my means and I have already changed my ways. I didn’t have any trouble paying my bills until a few months ago, when several things that needed cash added up.

I have never been late on payment of any kind, and I have continued paying my mortgage and other bills. I have recovered and want to begin repaying my creditors (all three are Chase cards), but they have continued to rack up late fees, increased interest, and now “over the limit” fees, since the interest is so high, it put me above the limits.

The repayment plan they’ve offered is 6% apr and if I start repaying, I will have $27 to live on each month, not counting money to savings and incidentals, like car repairs, periodic child care, etc. CCCS was not able to help me. I make a very good income and I am able to pay my bills, now; I just need a bit of a break on the interest or payment terms, so I can save a bit and get rid of credit cards for good (I stopped using all of them when I no longer could pay the bills).

I’ve talked to two debt settlement companies and I don’t want to go that way. Their BBB ratings are all “F’s” and I know I spent the money I’m fine paying it back under livable terms.

Is there help for someone in my situation out there, or is this the best I am going to be able to get?

Ray”

The Answer:

Dear Ray,

A monthly credit counseling or debt management plan is not going to help you here. You absolutely can’t live on $27 or even with a necessary budget that leaves you with $27. That margin is not safe. Just one unexpected expense will sink the repayment plan.

I’m glad to read that you recognized how you got in this situation and that you are now reformed. There is nothing so educational as clarity. And now it is time for the last step in your education, you need to go bankrupt. Here’s why.

Bankruptcy is the only solution in America that will allow an independent entity, the court, to put together a binding repayment plan that will be based on what you can afford at 0% interest. That part of your debt that the court feels you can’t repay, will be discharged. But even if it is discharged, you can still repay your creditors if you feel you have a duty to do so. Highly moral people can go bankrupt and repay their full debt. It is just that bankruptcy gives you protections as a consumer and a debtor that you otherwise don’t have.

Find a local bankruptcy attorney, call to schedule a free bankruptcy consultation, and go learn what bankruptcy will mean for you. It might be painful, but in your situation it is necessary.

Big Hug!

@GetOutOfDebtGuy

HFC Wants a Copy of My Paystub. I’m Not Going to Give It to Them. – Teri

Steve Rhode — Fri, 12 Feb 2010 18:13:50 +0000

From How to Get Out of Debt

“Dear Steve,

3 months late on a signature loan. Now they want payment in full.

Can a company (HFC) or thier debt collector tell you that they will only accept payments from you if you send them a copy of your pay stub along with a list of all of your debts. I’m not about to give anyone that isn’t my mortgage company or the IRS a copy of my pay stub. If I don’t do this are they likely to sue.

Teri”

The Answer:

Dear Teri,

It sounds like they are trying to determine if you can afford a repayment plan using your proof of income and your budget. It sounds reasonable to me if that’s what they are trying to do.

They are within their rights to sue you for failure to make your agreed upon payments. If you don’t want to work with them to create a repayment plan you can afford then you should expect to be sued.

If you are unsure about giving them your proof of income with a paystub, ask them what type of repayment program you might qualify for and see if that is even doable for you. If not, then don’t bother to send them your proof of income and budget and wait for the suit.

Big Hug!

@GetOutOfDebtGuy

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

Nildo Has Moved Back in With Parents And Wants to Save His Car From Repossession

Steve Rhode — Fri, 05 Feb 2010 22:42:27 +0000

From How to Get Out of Debt

Nildo

“Dear Steve,

Because of a job change, that pays only commission I got myself into this mess. Now I have to move back into my parents home and lose my car. It pays good commission but I have had 3 bad month and now I don’t know what to do

How do I get out of this mess and save at least my car?

Nildo”

The Answer:

Dear Nildo,

There are some absolutes in this world. For example, if you want to drive a nail into hard substance, it will require some force. If you don’t want to burn yourself on a hot pan from the oven, don’t grab it with your bare hand. If you want to keep your car, you need income.

I appreciate how much you want to keep your car but it is a function of the lack of income that is going to cause you to lose it. The good news here is that you are taking some steps to reduce your other expenses, like moving back in with the parents.

If your current commission based job isn’t paying the bills, you’ll have to look around and see if there is another job that might allow you to earn more.

Sadly, the hardest time to effectively sell is when you are desperate. Inspiration is always a more effective approach, rather than desperation.

The only hope for saving the car is going to be to negotiate a mutually agreeable repayment plan with the auto lender that you can afford. If they are not willing to offer you a plan that you can afford, you are probably going to lose the car. Don’t do anything stupid like hide the car to avoid repossession. If it is going to be snatched up, see if you can offer to drop it off and save some of the repossession costs, which you will be billed for anyway. Also make sure to take all your personal stuff out of the car now and leave it out so if the car is repossessed at a moments notice that you don’t need something in the car that you’ll have to struggle to get back.

If the car is repossessed then you will get a big bill for the repo costs, costs of the sale, and the difference between the amount of the loan and the amount received from the sale of the car at auction. This could be a very big bill.

Big Hug!

@GetOutOfDebtGuy

The Answer:

Your Searches and Speed Round Answers

Steve Rhode — Mon, 28 Dec 2009 23:11:39 +0000

From How to Get Out of Debt

I was looking through the recent search phrases on the site this morning and thought I’d take a whack at answering some of them quickly so I’m trying a new approach, the speed round.

What happens if you do not answer a debt collectors who is an attorney? If you mean answering the phone, you just flow further down the collection river. If you mean answering a lawsuit, if you don’t respond, you automatically lose.
Is debt consolidaton available by sallie mae? Here is what Sallie Mae says, “Severe legislative cuts made by Congress made federal student loan consolidation uneconomical. This, combined with the credit market deterioration, has caused us to suspend participation in the federal consolidation loan program.” Here are your repayment options.
How to negotiate with credit card companies. Call them and let them know what you can afford, don’t over promise. If you want someone else to see if they can put together a repayment plan for you, click here for debt management information.
I have no money to pay car financing. That’s not good. Sounds like you’ve got two options potentially in your future, repossession or a Chapter 13 bankruptcy to try to restructure your debt. If you simply can’t make the car payment consider a voluntary repossession and give the car back. You’ll get a big bill afterwards, but you can include that in a Chapter 7 bankruptcy and discharge it.
I’m behind on car payment. Time to evaluate your budget and figure out if you can even afford the car. Most people need transportation to get back and forth to work so it is necessary. Talk to a bankruptcy attorney and see if eliminating your other debts would allow you to keep your car. Click here for a free bankruptcy consultation.
(salliemae) AND (aviation OR aviator OR pilot OR plain OR aircraft OR helicopter OR “hair design” OR “beauty institute” OR “hair institute” OR culinary OR cook OR chef OR mechanic OR “interior design” OR landscaping OR “1 (888) 2-SALLIE” OR massage OR therapy OR “culinary institute”). What in the world were you searching for? I hope you find it.
How to get free airline tickets. Have a friend give you one.
They say they can get you a loan but then cant. If that’s the case, it’s a scam.
Loan forgiveness for stay at home moms. Sorry, nope.
Should i pay off my credit cards completely? I’ll go with yes.
“american express” and “credit counseling”. Not a great mix. American Express really doesn’t play nice with credit counseling in general. American express is a “take no prisoners” creditor.
Getting in trouble with bankruptcy court. Ouch. You want to avoid that so you don’t win a free trip, all expenses paid, to Club Fed. You can go to prison for bankruptcy fraud.
401 cashout. If you are taking cash out to pay down debts, don’t.
Credit card debt settlement payment lost. Always send debt settlement checks by traceable means to prove they got it. FEDEX or UPS are the best way to go.

Mark Writes In “I Need to Go Bankrupt in the UK”

Steve Rhode — Mon, 14 Dec 2009 01:23:50 +0000

From How to Get Out of Debt

Mark wrote in about his financial situation.

“Hi Steve,

My wife and I need help. Since 2001 we’ve been living in the U.S. and we’ve just got our green cards. We moved to the U.S. from the UK and for years I’ve been struggling to pay back debt there using dollars to pay back British pounds. The conversion rate has not been in my favor.

I do not have any property or belongings in the U.K.

I’ve used up all my savings now and don’t have any more money to send back to the UK to pay these debts. I’ve only been able to pay about £100 a month on £25,000 worth of debt. What should I do?”

Mark,

If you had lived in the United States, or anywhere outside the UK for less than three years, you could have still gone bankrupt in the UK using a foreign bankruptcy service.

But since you’ve been gone longer, bankruptcy back in the UK is no longer an option.

You have a few of options.

You could make payment arrangements the UK creditors but that makes it hard to pay off £ with $. But as you have learned, a repayment plan without an expectation that it will resolve the situation only drains you of cash and does not eliminate the debt.
You could speak with a US bankruptcy attorney and consider a US bankruptcy and include your UK debts. There are more cross border bankruptcies these days.
You could do nothing, stop paying the UK debt and then deal with any creditor that comes after you in the US.

As silly as it sounds, option 3 might be the best at this time, certainly making more payments isn’t going to help at all. But I would still suggest speaking with a US bankruptcy attorney to learn about how that solution may help you.

Any more payments to creditors, I’m afraid, is just going to be throwing more good money after bad.

Big Hug!

@GetOutOfDebtGuy

Do We Have Any Viable Alternatives Other Than Bankruptcy? – Paul

Steve Rhode — Tue, 20 Jan 2009 19:02:33 +0000

From How to Get Out of Debt

“Dear Steve,

I have piled up over $60k of credit card debt over the past couple of years. My gross income has been in the $55k range for the past two years. I am in a business where my income should continue to grow but with minimums around $1300 per month I’m very close to falling behind on these and/or my mortgage.

Do we have any viable alternatives other than bankruptcy?

Paul”

The Answer:

Dear Paul,

The most logical step would be to see if you can work out a modification of your mortgage to reduce the payment. You can do this by contacting your lender and seeing what they can offer you. Same thing with your credit cards, contact those banks as well.

Now once you have done that, don’t be surprised if they tell you there isn’t anything they can do. They offer little help to anyone that is current on their payments. They don’t want to offer relief at that stage and reductions and adjustments are typically reserved for people who are behind on their bills. I know, it sound illogical, that’s because it is.

If you get frustrated with that process or you want to get into a consolidated repayment plan that might reduce your credit card balances, then click here for debt management information. A debt management or credit counseling plan is not a perfect solution but it is a good first step to try before leaping for bankruptcy in your situation.

Big Hug!

@GetOutOfDebtGuy

Bankruptcy Judges Should Have the Power to Modify Mortgages

Steve Rhode — Sat, 29 Nov 2008 21:40:25 +0000

From How to Get Out of Debt

The sagging home values are drawing attention to a gaping hole in bankruptcy protection, the ability for U.S. bankruptcy judges to be able to modify the terms of a mortgage to keep people in their homes that want to pay.

A couple of recent article really caught my eye, “Delahunt: Empower judges to modify mortgages” and “A Win-Win Bankruptcy Reform“.

Bankruptcy judges have the power to change the term of loans for vacation retreats, business and car loans, but no authority to keep you in your home. Silly.

Homeowners facing trouble today or headed to foreclosure will often file bankruptcy to stop the foreclosure on their home. But that won’t save the home if you can’t afford the mortgage.

Under existing law, bankruptcy courts cannot modify the terms of home mortgages. To keep her home, this debtor needed to demonstrate sufficient income not only to make her ongoing payments at 14 percent but also to cover, during her five-year repayment plan, the payments she had defaulted on. Her proposed plan was clearly not feasible based on her salary, so I had no choice but to lift the stay and allow the foreclosure to continue.

However, homeowners could easily be allowed to remain in their homes if the loans were modified either in length or to return the interest rates charged back to a fair and reasonable amount.

When mass foreclosures occur, as they are now, nobody wins. The homeowner, banks and investors win if they can keep the proud and emotionally attached homeowner in the property, making payments, and properly caring for the home. This allows neighborhoods to flourish that would otherwise have vacant and unkempt bank REO homes just sitting there.

If we can’t give bankruptcy judges the authority to modify these loans in specific situations and under specific guidance then who can we trust to do the right thing, lenders?

This gap in bankruptcy authority seems to be perpetuated because the mortgage industry feels it would be detrimental to the mortgage industry but I have to agree with Judge Leonard when he writes:

No one has been able to explain to me why it is not better for mortgage holders to get a fair return of principal back, albeit at a lower interest rate, than to take a lump sum through foreclosure that is probably much less than the value of the note.

It does not make sense.

Not allowing bankruptcy judges to have authority to modify mortgage terms only tosses people out on the street. People who will eventually get new mortgages when the economy improves.

It seems that the costs passed on to us, the consumers are not because mortgage defaults, but because logic does not prevail.

New Concerns About 40% Credit Card Debt Reduction Proposal

Steve Rhode — Mon, 03 Nov 2008 20:38:07 +0000

From How to Get Out of Debt

Last week I wrote an article Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out but more information has come to light since then.

While consumer advocates are happy about the possibility of getting banks to write off as much as 40% of the debt in order to help consumers avoid bankruptcy, this is a well intentioned plan that is still half baked.

Proponents of this initiative have not clearly thought out all the issues and appear to not be spending time learning from what has and has not worked from outside the United States fence. On first glance, an effort that would wipe out a large portion of debt seems like a blessing but from personal experience in helping people in the U.S. and the UK. These are the important areas we need to focus on.

Creditor Voting – I have not read or heard any discussion about the 40% plan becoming binding on all unsecured creditors if the majority of creditors, by debt, agree to the plan. Unless all creditors are bound to the plan all it takes is one creditor to not participate and the entire solution blows up. The reality of getting all to agree is unreasonable so a 51% acceptance of the plan should be sufficient.
Fast Track Individual Voluntary Arrangement (FTIVA) – In April, 2009 a new process will come into effect in the UK. The FTIVA is designed to allow 90% of insolvent debtors who would normally seek bankruptcy protection, to enter into a payment plan upon a 51% acceptance by creditors. The extensive research and framework of this plan is something that we should closely study and consider emulating before the U.S. goes off and learns the mistake lessons like the UK already has from the more formal IVA already in place since 1986. UK Fast Track IVA Review Document – PDF
Make Life Allowances – Not only does this repayment plan need to be binding on all creditors upon a majority vote but it needs to have allowances and processes built-in to handle an unexpected financial hardship for a consumer enrolled in the plan. Already, consumers are seeking bankruptcy protection secondary to unexpected life events which create hardship. If a consumer is enrolled in the 40% plan and three years into the plan they have an unexpected financial emergency, we don’t want the plan failed and creditors to go back after the entire debt and all the fees and interest they can heap on. We need to create some fail safe mechanism that does not leave, the consumer that has made their best effort, stranded after so much effort. Otherwise, why not just go bankrupt to begin with and avoid the possibility of wasting three or four years of repayment only to fail due to an accident, illness, downsizing, etc.
Provide Incentives For Hard Work and Extra Effort – A lesson to be learned from the UK system would be that we need to provide consumers with an incentive to end their 40% plan early if they work hard, increase their income and can pay the plan off early. Accelerated repayments benefit the creditors and the consumer since it gives them motivation to improve their financial standing during the time in the plan. In the UK it is far too common for a consumer to get a raise or increase income only to have it taken from them as a windfall and poured into the plan. We need to fix the total amount due under the plan at the start so that the consumer clearly knows the total debt to be repaid and let them be hungry to pay it off early through grit and determination.

United States consumers have been long abandoned and left without new and more progressive ways to repay their debt outside of bankruptcy. This is our opportunity to remedy this situation and give good people with bad debt a way to effectively repay their debt with more protections than a credit counseling plan can give and without the big gun of bankruptcy.

Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

Steve Rhode — Fri, 31 Oct 2008 14:51:17 +0000

From How to Get Out of Debt

Credit card lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings have finally come together with the help of the National Foundation for Credit Counseling, Consumer Federation of America and the Financial Service Roundtable to start the process of creating a debt solution, other than bankruptcy or credit counseling.

That could be potentially really good news for consumers as it starts to make some major movement towards the perfect debt assistance program I outlined before.

At the heart of this new initiative is the Office of the Comptroller of the Currency giving banks permission to write off up to 40 percent of the balance owed on credit cards on a case by case basis. If banks did this it would give consumers a possible solution to pay what they can afford without bankruptcy. That is good news.

But with every good news story there is a catch, and pretty significant ones at that. Banks don’t want to book the loss on the loan until the consumer pays off the reduced balance through a payment plan. That will mask the true losses by the banks under this plan for years. But the primary reason for this is probably because the banks want to and will come back in full force and vengeance to collect the total amount due and then some, if consumers fail to complete the entire plan as scheduled. That could be very dangerous for consumers that have a slip or two during the long and difficult 60 months of repayment.

Worse yet is that rather than in bankruptcy where consumers do not have to pay any income tax on the amount of debt forgiven, in this plan, they will. The group is asking that borrowers be able to defer payment of income taxes they will owe the IRS on the forgiven part of the debt until after the remainder was paid off. You have to pay income tax on forgiven debt, just as if you earned the money. That just puts the banks squarely ahead of the government and leaves the consumer with potentially years of additional debts payments to make after five years of paying back creditors.

No Lingering Tax Liability- Unlike now, where any forgiven debt is taxed by the IRS as if it was earned as income, except for debt discharged in bankruptcy, the IRS needs to not bill consumers for the that amount owed that creditors may write off under this plan. Getting a tax bill for debt you already can’t pay is a strong disincentive for consumers to even bother with repayment. – The Perfect Debt Assistance Program

And the forgiven debt tax issue is a big one. If banks write off a total of $60,000 worth of debt to help you avoid bankruptcy, depending on your tax rate you can wind up with an IRS obligation of $12,000, more or less. Finishing a long and hard repayment schedule over five years only to wind up owing the IRS and paying for another couple of years seems cruel and a huge disincentive.

Scott Talbott, senior vice president at the Financial Services Roundtable is quoted as saying that under this plan “Both parties win”. I’m afraid that is an optimistic statements at this point and while we are potentially headed towards a good plan, we are not there. Right now I’d have to say the current plan heavily favors creditors.

Currently, the only thing the plan does is potentially leads consumers into a five year payment plan that is not binding on the creditors under law, leaves the debtor owing the IRS at a latter date, masks the banks write offs until the reduced debt is paid.

Since the plan is not binding, it will only take the actions of one creditor with excessive collection pressure, or arbitrarily changing their mind to conform with then current bank policy to continue participating to tank the whole repayment plan, maybe years into it. And creditor flip flops are not a worry of something that might happen, they happen now in a normal debt management plan, especially as creditors buy and sell portfolios of debts.

If the plan fails years into the repayment plan, consumers will have wasted years of struggle and payments and potentially be in worse shape than if they just went bankrupt to begin with. In order for this plan to be effective it must be contractually binding, just like an Individual Voluntary Arrangement (IVA) in the UK is.

Even though I once served on the board of directors of a consumer credit counseling office that was a member of the National Foundation for Credit Counseling (NFCC), I have been hypercritical of the NFCC in the past, feeling as if they are not doing enough to defend consumers against bad creditor behavior and actions since they are primarily paid by the creditors. But for this effort of trying to create a new solution for debtors I’ll give Susan Keating, the president of NFCC, a provisional thumbs up for finally seeing the light that better solutions for problem debt need to be made available to consumers, other than the traditional debt management plan (DMP).

I also see my old contact at Consumer Federation of America, Travis Plunkett, is quoted as saying that “In this case we have a clear common interest”, we do Travis but we’ve got further to go before this is a good plan for consumers other than bankruptcy, where no lingering tax liability exists and the plan is binding on the creditors. Keep up the good work Travis.

Having spent the past few years in the UK and working with similar plans there, this new debt write off plan being put forward here could be something great but unless we tighten up some major issues, as I laid out in the perfect debt assistance program I’m afraid that it will not be as beneficial for both parties as it could be.

A final sticking point is that this plan only address part of the consumers financial struggles and does not provide a single solution to address all debts, as bankruptcy does. Not mentioned in this plan is how consumers in trouble would be able to incorporate a failing mortgage into one single and coordinated solution handled by a third part in the time of monetary crisis. If a plan can be created that address all the issues and wraps things up into one package, then we’ve got a world class solution.

Keep working on this guys, we are halfway towards a decent debt repayment solution for good people with bad debt.

Steve

How to Get Out of Debt With the Get Out of Debt Guy » repayment plan

How Do I Get the Credit Card Company to Lower My Payment to What I Want? – Sally

The Answer:

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Lauren is Searching For Ways to Get Out Of Debt And Make Her Bad Credit Go Away

The Answer:

The Answer:

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I’m in Debt and Talked to CCCS and They Said They Could Not Help Me. – Ray

The Answer:

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HFC Wants a Copy of My Paystub. I’m Not Going to Give It to Them. – Teri

The Answer:

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Nildo Has Moved Back in With Parents And Wants to Save His Car From Repossession

The Answer:

The Answer:

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Your Searches and Speed Round Answers

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Mark Writes In “I Need to Go Bankrupt in the UK”

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Do We Have Any Viable Alternatives Other Than Bankruptcy? – Paul

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Bankruptcy Judges Should Have the Power to Modify Mortgages

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New Concerns About 40% Credit Card Debt Reduction Proposal

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Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

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