Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

elijahtheprofit asked:


Hello! I refinanced my mortgage to take advantage of a 5% reduction in principal, approx $20K. This in an investment property so I understand that this would be a taxable event. I am wondering if I sell the house (owned for 3 years) this year for a $20k loss, would the two cancel out? Many thanks in advance!

Coy Mo

Hey Guyz! asked:


The barking of the dog in the night Sdv
Not necessarily something
Know,
Many times
None of the bark,
Oisahm not know
In the silence? Each disease medicine Isttab only puzzling the folly of Ehadaha
Women need to be beautiful Thelatp one of the spouses to pay their debts and to one she loves him and one for a hit
Women did not end up something and did not
Maimut another man in the heart of women in the tongue
A man was shot and women is the wood and the air is the devil
Kzlk women, followed by escape and run them follow you
Sepp Habebi liked the … Maiji reduction and to stop Delh
If you want to know the true age of a woman to ask her sister
Women: a man is better than Dmim funds and a handsome man with Flosse
Known as the most studied, and known as the most forgotten more and more known as the Forgotten less - so why study?!
My empty heart and empty mind: What Osaadk.
The difference between man and dog … That dog do not bite the hand that feeds
I work in silence .. Valosd not roaring, a fish!
The pessimist: optimistic disappointed?!
Many of the artifacts of women to the extent that it is not the time to be polite
Men can not forget the first woman I love, and women do not forget the first man betrayed
The last man to die in Hmokh. The last thing to die in the women’s memory
Although we call it Alhmarp,
What Nadettha days of the name,
Known fact that the names,
I know her real name,
Silence,
Was created so that others Nbouh

Stephen Granillo

chica boom asked:


I purchased a condo in feb of 2007 and it has lost value (about 50K). I did a little research about the stimulus plan and I meet all of the criteria to get a loan modification (my debt to income ratio is 60% and the condo is occupied by me). There is one thing that I’m not sure about though, in order to qualify it says you have to prove a hardship (i.e a significant reduction in income, or significant increase in expenses). I still have my income but my work has reduced overtime hours, and this is something I counted on helping through the first few years of being a homeowner. Also, my employer has been talking about reducing staff 25% but this wont happen for a few months.

Does anyone know if they will qualify me based on my employer reducing overtime hours? This is significant to me because I live paycheck to paycheck.

Sherril Pellegren

tmep2346272337 asked:


I have a few questions concerning it.

1. I know you have to send in a written request, a copy of orders, and specify which statue you’re using. So, what would a copy of orders look like? For example, if someone has a reporting date for OCS or BMT, what would they use? An actual example of a form would be great! Also which statute is it that I should address in my letter to the creditor?

2. When using it on credit cards, do the lending companies actually close the credit card account or does it remain open after SCRA has been used?

3. If the credit card remains open, will using it again void the SCRA debt reduction to 6%? For instance, if I owe 3,000… I use SCRA, then I use the credit card again to purchase food… now, I owe 3,025… Does the rate go back to the original rate on the whole amount? Or is 3k under 6% and the rest under the normal percentage?
To clarify, the act is for anyone on ACTIVE duty. Anyone at OCS or BMT is on active duty if they are not part of the reserves.

I do not know what orders look like. So, it would be nice if someone were able to show a template of how orders are supposed to look, or inform if the sign up contracts for active duty will suffice, as well as list the statute to reference when sending a letter to the creditors.

Lacy Horwood

little dragon asked:


If you going to be mean and not answer and say do your homework than dont answer. I do my homework i just need help with these

16. A commodity futures market exists within the broader commodities market for which of the following reasons?
(Points: 2)
Contracts setting the price and date for a commodity purchase are transferable.

Commodities cannot be sold until they have been extracted from nature.

Forward contracts allow brokers to pay for commodities up front.

The exchange rate for commodities varies as time goes on.

17. Which of the following actions can the government take to raise money?
(Points: 2)
Sell stocks.

Issue bonds.

Lower interest rates.

Exchange currencies.

18. Which of the following is the act of buying and selling money using other types of money?
(Points: 2)
Issuing dividends

Decreasing utility

Maximizing profits

Exchanging currency

19. If the exchange rate between the U.S. dollar and the Canadian dollar is 1:1.3, which of the following is true?
(Points: 2)
It costs less to buy a $5 item in Canada than it does in the United States.

It costs more to buy a $5 item in Canada than it does in the United States.

A $5 item costs three times as much in Canada as it does in the United States.

A $5 item costs three times as much in the United States as it does in Canada.

20. Which of the following best explains how buying on margin increases the leverage of currency traders?
(Points: 2)
Margin buying gives traders a profit rate that is one unit higher.

Buying on margin allows traders to sell shares in a company that they do not yet own.

Borrowing money allows traders to make large purchases without a large amount of money up front.

Currency purchases can only be made on the large scale, enabled by borrowing from currency brokers.

21. Because banks are often unwilling to loan money to a business in its early stages of development, startup business have a difficult time doing which of the following?
(Points: 2)
Getting debt financing

Securing venture capital

Finding an angel investor

Conducting an initial public offering

22. Businesses that wish to get loans from a private bank generally need to have which of the following?
(Points: 2)
An exit strategy

A wealthy startup investor

An online advertising budget

A history of profitable operation

23. Which of the following best describes the meaning of “going public”?
(Points: 2)
When a company starts offering its products for sale

When a company is bought out by a government agency

When a company begins selling shares of its stock to the public

When a company issues Treasury bonds that can be bought by anyone

24. Which of the following would be most likely to lead to a successful IPO?
(Points: 2)
An increase in the discount rate by the Fed

A company offering an IPO during a bull market

An Internet company offering a brand new service

A prospectus that is realistic about the company’s debts

25. A company can secure additional capital without going into debt by doing which of the following?
(Points: 2)
Going public

Taking a business loan

Buying out another company

Bargaining for wage reductions

Pauline Tuller

Obama - Wimp in the White House asked:


In the defensive-sounding statement released with his budget this morning, President Obama repeatedly blames the previous administration for leaving him in a position where he had “no choice” but to send the nation deeper into debt. He blames “irresponsible risk-taking and debt-fueled speculation—unchecked by sound oversight” for a deep recession that he speciously claims his administration’s massive spending prevented from becoming a depression.

Not once does the president acknowledge the role the government played in fomenting the recession. Instead, the president promises to move away from “business as usual” even though more spending, deficits, and debt are precisely that: business as usual. In this regard, the Obama administration’s first term is looking more like George W. Bush’s third term. Bush left the president with a $1.4 trillion deficit in FY2009; the deficit under Obama’s first year is set to rise to $1.6 trillion and would still be $1.3 trillion in FY2011.

Just like Bush, the president proposes minuscule savings through a small number of program terminations and reductions. But overall spending continues to rise, and in a $3.8 trillion budget the president’s disingenuous attempt to “cut” anything amounts to little more than a rounding error. The president also proposes to freeze non-security discretionary spending for three years, which he falsely claims will “help put our country on fiscally sustainable path.” In reality, last year’s stimulus and appropriations spending binge will mean actual outlays for this tiny portion of the overall budget will still be higher than what Obama inherited.

The president says that “rising to these challenges is the responsibility we bear for the future of our children, our grandchildren, and our nation.” The truth is our children and grandchildren are going to pay a painful price for the Bush/Obama profligacy. Present and future generations would be better served by Washington putting on the spending breaks and bringing to an end the economic distortions caused by government interventions.

http://www.cato-at-liberty.org/2010/02/01/obama-can-blame-bush-all-he-wants-but-his-budget-is-even-worse/

Juliana Gervasio

Water Over Gold asked:


It’s interesting how Democrats know they’re going to need more money, yet they don’t have a budget………..WTF??

http://news.yahoo.com/s/ap/us_hoyer_taxes#mwpphu-container

A top House Democrat said Tuesday that tax increases will eventually be necessary to address the nation’s mounting debt, raising a difficult election-year issue as Democrats fight retain control of Congress……………….”As the House and Senate debate what to do with the expiring Bush tax cuts in the coming weeks, we need to have a serious discussion about their implications for our fiscal outlook, including whether we can afford to permanently extend them before we have a real plan for long-term deficit reduction,” Hoyer, a Maryland Democrat, told a forum on deficit reduction.

The tax cuts will be a big political issue in many congressional elections this fall, providing potential fodder for both political parties. Democratic leaders have yet to lay out a schedule for dealing with the tax cuts, but many rank-and-file Democrats want to extend them before the elections, so they can campaign on passing tax cuts for the middle class.
I’m talking about a CONGRESSIONAL budget, not WH projections.

Tiffany

asked:


The total debt has increased over $500 billion each year since FY 2003, considering both budgeted and non-budgeted spending.[12] The annual US budget deficit declined from $318 billion in 2005 to $162 billion in 2007, but is estimated to increase to $410 billion in 2008.[13] Annual deficits add to the debt. The Congressional Budget Office projects an annual budget surplus by 2012. However, this estimate is based on current law, which assumes sizable tax reductions will expire in 2010.[14] When the U.S. Government has a surplus, it may pay down its outstanding debt by paying back the principal of the outstanding bonds redeemed for payment while not issuing new bonds. The U.S. Government could also purchase its own outstanding securities on the open market if it was searching for a way to use a surplus to reduce outstanding debt that was not due for redemption in a given year.[15][16]

The Government Accountability Office (GAO), Office of Management and Budget (OMB) and the U.S. Treasury Department have warned that debt levels will increase dramatically relative to historical levels, due primarily to mandatory expenditures for programs such as Medicare, Medicaid, Social Security and interest. Mandatory expenditures are projected to exceed federal tax revenues sometime between 2030 and 2040 if reforms are not undertaken. Further, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[17]The severity of the measures necessary to address this challenge increases the longer such changes are delayed. These organizations have stated that the government’s current fiscal path is “unsustainable.” Information was obtained from Internet.

Lien Marier

Laura asked:


Since my son was born my husband and I have had difficulty keeping up with bills. I am currently unemployed due to personal health and I am going on 1 1/2 years of being able to work without finding a job even though I have been searching actively (I refuse to return to my previous employer because the environment contributed to my health issue, though it cannot be proven in a way that provides workman’s comp).

My husband has a solid job that earns just enough for us to pay our current bills. We do not have spare money for any extras (eating out, movies, etc.). There have been a few unexpected bills and have had to pull from his 401k to cover rent twice within the last 5 months in order to make ends meet.

One debt collection company has taken us to court knowing that we can barely make ends meet (I have been open and honest with them about everything). They took us to court, won the judgment, and have begun garnishing my husband’s wages at 25%. At this point, we will not be able to afford the next month’s rent, let alone groceries or even pay our electric bill (which is past due).

I do not have the ability to borrow money from anyone. The people I know who would be -willing- are incapable due to their own financial obligations.

I know that in some cases those below the poverty level can have wage garnishments adjusted to a lower amount, or removed altogether. My question is: how do I do this in the state of Montana? What forms will I need and which court will I need to go to in order to do so? At this point with the reduction I won’t be able to afford the next month’s rent without pulling from the 401k again and I don’t want to do that at all.

Tim Curtis

cheerful charles asked:


This morning a question was asked about the current account deficit and one reply was: “It’s ok. As long as the US military rules, no one will dare to collect their debts”
The global current account deficit of the United States is now larger than it has ever been—nearing $800 billion, almost 7 percent of US GDP. To finance both the current account deficit and its own sizable foreign investments, the United States must import about $1 trillion of foreign capital every year or more than $4 billion every working day. The situation is unsustainable in both international financial and domestic political (i.e., trade policy) terms. Correcting it must be the highest priority for US foreign economic policy. The most constructive remedy in the short term is a three-part package that includes credible, sizable reductions in the US budget deficit, expansion of domestic demand in major economies outside the United States, and a gradual but substantial realignment of exchange rates
The details are taken from the Peterson Institiute
http://www.iie.com/research/topics/hottopic.cfm?HotTopicID=9

Elwood Rados