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

Skidaddle asked:


Is the revised UK bailout plan of the 7th Oct 08, to protect £50,00 deposited (net, i.e. minus any debt to that group) in any Banking group a full 100% guarantee or is it subject to a scale of decreasing percentages as the sum deposited increases or even a further reduction as the sum increases to over £50,000 in further accounts?
I of course mean £50,000 and not £50,00.

Neva Crofts

Robyn asked:


If I can negotiate the payoff but I can’t get an affordable monthly payment plan, should I use an overdraft loan (set up for my checking account) to pay off credit cards? The interest rate is much lower and it would be one payment, as well as a significant reduction in my credit card debt.

Phillip Kudo

she_talks_in_stereo asked:


There is an outstanding unsecured credit card bill from a relatives estate for about $10k. We were contacted by the card issuer that they would settle for about $6500. We called back and offered what we have, which is $3500. The card issuer dropped the settlement amount to $5k and said they they cannot go below 50% of the debt. The card was last used in 2007, and the person died in early 2008. No subsequent payments were made on the card following the death. We were not even aware of the bill until a month or two following when they started calling for collection. We did not even know this person HAD a credit card and we are in fact, questioning, the validity of some of the charges as well.

Is the 50% reduction a legal requirement??????? Do you think we will be able to settle w/the amount we stated? There is no other income to the estate. All proceeds from insurance etc have been exhausted.
the life insurance proceeds went to the estate as the beneficiary predeceased the testator.

There is enough cash left to pay the credit card. The attorney stated if a bill is received, that is sufficient notice of the debt and that it has to be paid, albeit could be negotiated. We still need to pay the balance of the lawyer and dont want to pay him any more than we have to.

Erin

Estebanico asked:


Like many people in America, I made stupid decisions in the past, and because of that, I have a cumulative credit card debt of about $25,000. Both my wife and I work full time to raise our 2 year old girl, but it’s just impossible to keep paying our monthly payments on time anymore. Somebody told me of CCCS and they said they can help me negotiate better rates, lower monthly payments and debt reduction with my creditors. Are companies like this one trustworthy? How much should I expect them to pay them in the long run for their services? How will this affect my credit history?

If anybody has had experiences with this type of companies, I would appreciate your comments. They say they don’t offer a loan or anything, they just help me to negotiate and get a better deal, but I’m not sure at what cost.

Latoyia Watley

tasheeepoo asked:


The following is a excerpt from Lucent Technologies Management? Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs research and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for our customers, while enabling them to quickly deploy and better manage their networks. Our customer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the products and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching products, which we sometimes refer to as convergence solutions, and voice messaging products), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Beginning in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration included general economic slowdown, network overcapacity, customer bankruptcies, network build-out delays and limited availability of capital. We believe that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is creating the need for a new convergence of networks, technologies and applications. Required 1. Using the Consolidated Balance Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size balance sheet. 2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies?

Miquel Mccarn

Flywheel asked:


I’ve read the economic goals of libertarians and fiscal conservatives, but it’s occurred to me that not all of the goals are mutually inclusive.

For instance, it’s possible to enact a flat tax and lower everyone’s taxes…or you could enact a flat tax and raise everyone’s taxes.

Which of these goals matter the most to you, from highest to lowest?

Debt Reduction
Flatter Taxation
Less Spending
Less Taxation
Lower Budget Deficits
Simpler Tax Code

Grady Twedt

sweetie asked:


Iive in ca and my house is about 200k underwater. i want to try short selling it if possible but how do i make sure that i get the cancellation of debt AND don’t get taxed in the end? my last option will be foreclosure or bankruptcy but not sure if i would even qualify considering i still have an income. my only hardship is accumulation of debt. my only hope is if i get principal reduction on my mortgage but i heard that this would be very impossible.

Craig Summerhays

Serious asked:


I have quite a bit of credit card debt and a boat that is way upside down and have taken a 40% reduction in pay. I am finding it very difficult to stay afloat.

Andrew Mueller