Question by Jay: Loan Modification and Debt relief?
I need a Loan Modification and I need Debt Relief. I no longer have the ability to pay my debts. My home has no equity. while I am not behind, very shortly I will be. I have a massive amount of credit card and unsecured debt, maybe 0,000 and my wife who does not work has another ,000. What should be the order in which one would proceed? Loan Mod first or Debt Relief First, or both at the same time?
I have read all about the debt relief specialists, and they seem more like sharks than anything else. I have read some good articles about how to do it your self. It seems like a lot of time I am willing to do that, however I have not lost my job, and really need to concentrate on work when I am at work. I have to deal with Bofa, Chase, Citibank, CapitalOne, Advanta, and then my 1st and 2nd loan. Good God what a mess.
I was at a seminar for something else, and someone instructed me to contact a lawyer to help negotiate this mess.
Any constructive comments would be helpful.
Best answer:
Answer by Landlord It sounds like you need to declare bankruptcy.
National Debt Relief Initiative is fulfilling a very important role today in facilitating the obtaining of much-needed debt relief services by Americans from coast to coast. And the need for these types of programs cannot be overstated. Millions today find themselves buried in debt, unable to pay their mortgages, unable to pay their medical bills, unable to pay their student loans, and unable to find a job.
National Debt Relief Initiative Is Needed
Consumers have watched with befuddlement and bewilderment as their elected officials have doled out trillions of dollars in taxpayer funded bailouts to banks, industries and institutions that are so-called “too big to fail”. Polls have indicated that a majority of Americans were in fact against the Wall Street bailouts. Consumers have since begun to ask themselves, “What about OUR bailout?” but to no avail. Those who are hoping for a debt relief program from the government for the benefit of consumers should not hold their breath.
Yet all is not lost. Today, a huge financial services industry of debt management, debt consolidation, and consumer credit providers stands by to assist those who are struggling with personal debt. Relief providers work with creditors on a daily basis to reduce debt balances, reduce interest rates, reduce fees, and consolidate consumer debt into a single monthly program payment that is affordable. A road map that makes sense for getting out of debt is also established.
National Debt Relief Initiative offers a free service whereby consumers who are in need of debt relief services can fill out a simple short form online and be connected with a debt management provider in their area. America and Americans are a good, hard-working people. Together, we shall weather and overcome the economic downturn and return stronger than ever. To learn more about National Debt Relief Initiative and how to get started, please visit:
Question by hottiecj *~?~*~?~*: Does anyone know how I could become a Consumer Credit Counselor in Indiana?
I want to be able to help people with their financial problems. Budgeting, debt reduction and elimination, basic estate planning and such. I would like to work for one of the non-profit organizations. Not one of those “debt relief” places that take your money and ruin your credit.
Best answer:
Answer by born west coast check out Daveramsey.com
This digital document is an article from Social Justice, published by Crime and Social Justice Associates on September 22, 2008. The length of the article is 8020 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.
Citation Details Title: The Bush administration, debt relief, and the war on terror: reforming the international development system
Are you buried neck-deep in debt? Do you owe a total of more than a hundred thousand dollars? Have you been repeatedly turned down by debt relief services? If so, don’t lose hope because there is still one last resort for you and that is to file for bankruptcy.
Bankruptcy debt relief has been the way out for thousands of people who have no idea of how to escape the financial hole they have inadvertently trapped themselves in. There are even individuals who have filed for bankruptcy more than once in their life.
However, before you join their ranks and go for bankruptcy debt relief yourself, you have to make sure first that there is really no other option for you.
The moment you file for bankruptcy, you will immediately be free of all existing debts. This idea might sound very appealing especially for someone who is already up against the wall in terms of financial obligations. However, you will have to completely understand the workings of the bankruptcy debt relief system before you affix your signature on the bankruptcy documents.
Probably the biggest drawback of bankruptcy debt relief is that once you are officially declared bankrupt, your Credit Bureau report will be stamped with the word ‘Bankruptcy’ in big, bold letters. When the lending companies see this on your record, you can be sure that they will not be sending any credit card offers your way.
Usually, your credit report will be cleared only after a period of seven years. This means that during this time, you will have to live on whatever cash you have because no creditor will be crazy enough to lend money to someone who obviously doesn’t have the means to pay for it. Of course, you can always borrow from generous relatives and friends but that would probably push down your rank in their list of favorite people in town.
Seven years can be a pretty long time and it may not be worth the initial freedom that you can get from bankruptcy debt relief. It is therefore critical that you try all alternatives first before filing for bankruptcy. There are thousands of institutions in the country that offer debt counseling services.
Before opting for bankruptcy debt relief, it would be a good idea to consult with some of these financial experts and bankruptcy attorneys so that you can determine if bankruptcy debt relief is in fact the best option to take.
When you are at a financial website that claims to offer debt relief programs, the first thing you have to look for is whether the address and phone number of their company is listed on the site. If there is no contact information and only a P.O. Box number is supplied, that is a sure sign of a scam and you shouldn’t waste your time on that site.
If a telephone number is listed, you must try calling the debt relief program company. Communicating on the phone with an actual person is always better than just corresponding with them via email.
Question by Anonymous: Is this some kind of scam? (See Details)?
I keep getting texts on my phone from California based telephone numbers asking me if i want to be part of their debt relief program. I reported them to the FCC the first time and told them not to text me…The second time i did.. I then told them to call me in which i got texts from 2 more different phone numbers but i got an unlisted Land line 949-203-2526 ext:1103 Darren i reported this number. I called this number it finally gave me a company name “National Loan Relief” I cannot find any info on this so called company/program except this web page http://www.manta.com/coms2/dnbcompany_h887c
Someone think this is a scam? Their text messages got on my nerves…i at least gave Darren a piece of my mind for texting me at 3am… I dont like getting texted at 3 in the morning.
Here is the number again if anyone can find info on it…
949-203-2526 ext:1103 Darren
I made a third report to the FCC… Hopefully they will stop
Best answer:
Answer by Carl are you stupid??? al telemarketers are scammers!!!!!
Unable To Get Mortgage Debt Relief? Be Ready For A Lawsuit
The United States is home to 94% of all the lawsuits in the world and 75% of the world’s attorneys. Very few of them are willing to help you get mortgage debt relief, or give you free financial advice, but many are willing to come after you for the default judgment..
Once you are served with a lawsuit, the clock starts ticking. You may be served by mail or in person and you have a very limited amount of time to answer the lawsuit. In most instances, the lawsuit will typically overstate the claim. For example, if you were involved in an automobile accident that caused ,000 of damage to the other car and ,000 of medical damages and you get sued, it will be for an amount much greater than ,000.
They’re going to say things like, “I have headaches now and I get cranky with my kids.” You’re going to file a claim for much more than the actual damages. If they can also say they suffer from emotional distress, which means more money for them.
In most jurisdictions, you have 20 to 30 days to file your answer has to be before the court. And, it must be in the right format and have substance to it.
The discovery phase begins next and is the most expensive phase of a lawsuit. The discovery phase is where:
Depositions are taken under oath Answers to interrogatories or questions are provided Copies of documents are provided Testimony is taken under oath on both sides Expert witnesses are brought into the process
Then, the plaintiff prepares their case against you. You will spend a lot of money defending yourself if your liability insurance policy includes ‘except’ or ‘but’ provisions. If you’re in that category, you are on your own, except for some partial coverage.
You’ll be faced with expenses and a lot of stress, because the real cost of the lawsuit isn’t just the money. It’s also the stress you experience during a process, which could last for two or three years.
Alternative Dispute Resolution
A method used to resolve legal complaints is called Alternative Dispute Resolution or ADR. All contracts should include an Alternative Dispute Resolution clause waiving rights to litigate and engaging in an Alternative Dispute Resolution.
Step 1, Conciliation
The first step is called conciliation, where you talk informally and see if you can work out the problem. If that doesn’t work out, you agree to enter into mediation where you hire a third party mediator.
The mediator will help both sides sit down and negotiate an arrangement in which both agree. The process is formalized with a written agreement. When the dispute is resolved, both parties are required to perform according to that agreement.
Step 2, Arbitration
If mediation doesn’t work, then arbitration is the next step. Arbitration is similar to court system process, except that it is much cheaper and much faster. The American Arbitration Association is a national organization that has arbitrators in every major city in the country.
Arbitration allows you to hire a third party. The third party can be one individual or a panel of third party participants to hear the complaint. Both sides give verbal testimony and present any evidence to the third party.
The rules of evidence in an arbitration setting are more relaxed and less formal than in the courtroom. Arbitration is usually completed within one to two days devoted to a hearing. The results are then usually determined within a few weeks instead of years.
If you have entered into a contract with this method of dispute resolution, you might spend a couple thousand dollars, instead of losing 0,000 in a lawsuit
Visit www.north-scottsdalerealestate.com for more info. The Mortgage Debt Relief Act of 2007 is the prefect example of strength in numbers. With so many individuals and families going through either foreclosure or a short sale, the Government is making an exception to their standard policy of treating forgiven debt as income. The Mortgage Debt Relief Act of 2007 is over at the end of 2012, which implies that if you are going to go through a short sale or a foreclosure on your primary residence you better do it soon. Talk to your accountant. The following video talks about some of the highlights of the Mortgage Debt Relief Act of 2007. For specifics on The Mortgage Debt Relief Act of 2007 straight from the horses mouth visit the IRS website at http
Question by WealthManagement81: How do I determine if my debt settlement is working?
A few month’s ago, I started working with National Debt Relief to settle 2 credit cards….1 with Discover and one with Citibank.
I have had no issues until the other day, when someone from Citi called me to say they don’t work with debt settlement companies.
So, I have my debt settlement company telling me “don’t listen to the creditors, they are just trying to scare you”, and then I have Citi telling me “don’t listen to the debt settlement company because they take your money and never pay us…a law was passed last year that we no longer work with debt settlement”
When I first enrolled into the settlement program, they said they did work with both banks, I had to provide my statements and they seem completely legit. I have a certain amount of money automatically being deposted into a trust account with the settlement company uses to pay off attorney fees and my creditors over a specific period of time.
How do I determine who is telling me the truth, and if my debt settlement isn’t working, what do I do with Citi? They did send me a letter asking me to settle…so what’s the difference if I settle through debt relief vs. settling directly through me?
If it helps, Discover has contacted me and is aware that I’m working with debt settlement and seemed more than okay with that. and they both sent me letters to settle for less than what i owe. it isn’t very much debt at all….just what I couldn’t pay off from my old lifestyle, after I had to move across the country and take a job making much less than i had before.
Best answer:
Answer by Judy Most people that go through these settlement companies end up getting sued and getting their wages garnished.
Somewhere in the contract you signed there should be wording such as
“there are no guarantees”.
You could have done this yourself.
With a good book from your library or bookstore called
Credit and Debt Repair.
All the tricks are there.
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