Your Searches and Speed Round Answers

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.
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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