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

spotnick asked:


Trying to get rid of credit card debt that is out of control. Don’t want ones that will sell my personal info but are truly honest and follow all the laws etc.

Jana Donoso

sw??tÿ™ asked:


A company can secure additional capital without going into debt by doing which of the following?

A. Taking a business loan
B. Buying out another company
C. Bargaining for wage reductions
D. Going public

im stuck!! : (

Augusta Fatheree

kyo_94118 asked:


this is a problem finance problem i have a hard time on.

company A has $200 asset, $300 sales, $20 net income, and a debt-to-total asset ratio of 40%. the CFO reduced the amount of total assets to $150. Sales, costs and NI are not affected, and the firm still maintain a the 40% debt ratio.
by how much would the reduction in assets improve the ROE?

thanks

Trinidad Broadaway

johnnetta asked:


The following is an excerpt from Lucent
Technologies’ Management’s Discussion and
Analysis of Financial Condition and Results
of Operations:
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.

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?
compose a 500-750-word paper in
APA format that includes your answers to questions 2-4

LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in Millions, Except per Share Amounts)
September 30, September 30,
2004 2003
Assets
Cash and cash equivalents $ 3,379 $ 3,821
Marketable securities 858 686
Receivables 1,359 1,511
Inventories 822 632
Other current assets 1,813 1,213
Total current assets 8,231 7,863
Marketable securities 636 —
Property, plant, and equipment, net 1,376 1,593
Prepaid pension costs 5,358 4,659
Goodwill and other acquired intangibles, net 434 188
Other assets 928 1,608
Total assets $ 16,963 $ 15,911
Liabilities
Accounts payable $ 872 $ 1,072
Payroll and benefit-related liabilities 1,232 1,080
Debt maturing within one year 1 389
Other current liabilities 2,361 2,393
Total current liabilities 4,466 4,934
Postretirement and postemployment benefit liabilities 4,881 4,669
Pension liabilities 1,874 2,494
Long-term debt 4,837 4,439
Liability to subsidiary trust issuing preferred securities 1,152 1,152
Other liabilities 1,132 1,594
Total liabilities 18,342 19,282
Commitments and contingencies
8.00% redeemable convertible preferred stock — 868
Shareowners’ Deficit
Preferred stock—par value $1.00 per share; authorized shares:
250; issued and outstanding: none — —
Common stock—par value $.01 per share;Authorized shares:
10,000; 4,396 issued and 4,395 outstanding shares as of
September 30, 2004,and 4,170 issued and 4,169
outstanding shares as of September 30, 2003 44 42
Additional paid-in capital 23,005 22,252
Accumulated deficit (20,793) (22,795)
Accumulated other comprehensive loss (3,635) (3,738)
Total shareowners’ deficit (1,379) (4,239)
Total liabilities, redeemable convertible preferred stock
and shareowners’ deficit $ 16,963 $ 15,911
See notes to consolidated financial statements.

Elroy Guntrum

LINDSAY M asked:


i took out a loan 3 years ago, for £2000, i was to pay £155 for 24 months, but unfortunately had a pay decrease at work a year into the loan, and couldn’t afford to pay it. i didn’t have ppi, but have been making regular payments of £55 a month for about 9 months now, but interest has been added to the loan making the total amount owed just over £6000!!

ive drafted up an offer and would like input on what people think of it, eg, will it be accepted, is it reasonable ectect. my monthy disposable income is £80. this is my letter ::::

I am writing to you because i am concerned about my loan account with you.
i have been paying £50 a month due to having a reduction in my earning, and ive come to realise my debt is increasing rather than decreasing.
i have included a copy of my expenditures and i wish you to consider what im going to offer.

my offer is that i pay £65 for the next 60 months which is a total of £3,900, and for the remaining debt to be cleared, and that further interest and charges to be frozen.

As my debt currently stands at approximately £6000, i think this is a very reasonable offer.

I also request that you send me a copy of the signed credit agreement, and a full list of payments made and charges applied to the loan, as if my offer is rejected i will be seeking advice to clear this debt.

i look forward to a quick response within 28 days, and would like it in writing if you accept my offer.

Sam Sickman

Ronnie Nicole asked:


1. Which of the following would be an external user of accounting information?
a. chief executive officer
b. vice president of finance
c. bank loan officer
d. chief financial officer

2. What is the characteristic that allows financial statement users to compare information over time?
a. reliability
b. relevance
c. consistency
d. comparability

3. Auditors are responsible for
a. preparing a company’s financial statements in accordance with GAAP
b. preparing a company’s earnings forecast in accordance with GAAP
c. determining whether a company prepared its financial statements in accordance with GAAP
d. determining whether their clients prepared their financial statements accurately

4. Companies acquire and sell property and equipment as a result of which business activity?
a. financing
b. investing
c. operating
d. auditing

5. Ace Co. has total assets in the amount of $3,000,000 and total liabilities in the amount of $2,000,000. It sold stock to new shareholders for cash of $1,000,000. As a result of this transaction:
a. the debt to assets ratio will increase
b. the assets turnover ratio will increase
c. the debt to assets ratio will decrease
d. the net profit margin ratio will decrease

6. The following information is available for Aztech:
Total assets $800,000
Net Income 120,000
Average total liabilities 400,000
Sales revenue 1,500,000
Total liabilities 500,000
Average total assets 700,000

The net profit margin ratio is
a. 8%
b. 12.5%
c. 15%
d. 17.1%

7. North Co. understated its expenses for the year. As a result
a. its debt to assets ratio will be understated
b. its net profit margin ratio will be understated
c. its debt to assets ratio will be overstated
d. its net profit margin ratio will be overstated

8. Which of the following results in an expense for a company?
a. purchase of land
b. payment of advertising for last month
c. payment of a dividend
d. purchase of supplies

9. Which of the situations results in unearned revenue?
a. collection of $100 from a customer who charged the purchase of goods a month ago
b. the receipt of an order from a customer who will purchase and pay for goods in two weeks
c. the sale of $100 of goods today with the payment due from the customer in 30 days
d. the receipt of $100 cash from a customer for an order of goods to be shipped next month

10. Which of the following is a stockholders’ equity item?
a. contributed capital
b. cash
c. accounts receivable
d. accounts payable

11. Which of the following items will reduce stockholders’ equity?
a. the purchase of equipment
b. the purchase of supplies
c. receiving a loan
d. the payment of salaries

12. If a company does not receive cash until after it delivers goods
a. it must wait to receive cash until it can record revenue
b. it must record unearned revenue at the time it delivers goods
c. it must record revenue at the time it delivers the goods
d. it must increase the amount of accounts receivable at the time it gets paid by its customer

13. Dividends paid to stockholders
a. are a reduction to retained earnings
b. appear in the cash flow from operations section of the statement of cash flows
c. appear on the income statement
d. are subtracted from contributed capital

14. Net income is
a. assets minus liabilities
b. revenues minus expenses
c. contributed capital minus dividends
d. stockholders’ equity minus liabilities

15. Which of the following statements is prepared as of a point in time?
a. income statement
b. statement of retained earnings
c. balance sheet
d. statement of cash flows

16. The Hamlet Corp has assets of $20,000, and stockholders’ equity of $12,000. The amount of liabilities is
a. $8,000
b. 12,000
c. 20,000
d. 32,000

17. Which of the following would appear in the cash flow from operations section of the statement of cash flows
a. cash paid to suppliers and employees
b. cash paid to purchase equipment
c. cash paid on notes payable
d. cash paid for dividends

18. The amount of cash that appears on the balance sheet will also appear
a. as the ending balance in the statement of retained earnings
b.

Joaquin Shawber

gotmini02 asked:


My goal is to pay my creditor back about 30 cents on the dollar. They call me about 3 times a day. I have purposely made no contact with them. They have sent me a lot of form letters as well. Most are just reminding me that I am overdue and that they have plans that can help me. BUT…today I received an offer from them. They are giving me until 8-12-09 to accept it. Otherwise they say they will turn my account over to an outside collection agency. They offered a 25% reduction in my debt if I am to settle with a lump sum now. As I stated earlier, my goal is to settle for about 30 cents on the dollar, not 75 cents on the dollar.

MY QUESTIONS TO YOU:
1. Will I be able to negotiate a better settlement with the credit card companies in house debt collectors or a private debt collection agency?
2. What is the timeline in regards to when credit card companies sell an unpaid debt to a private debt collection company?
3. If I make a counter offer before the 12th of August that I will pay a lump sum of 30 cents on the dollar instead of the 75 cents on the dollar they offered, and they refuse to my offer then what do I do?

Sanford Skrocki

jl_jack09 asked:


It said last week it would submit a supplemental spending request for $18 billion for hurricane relief for the current budget year and ask Congress for $120 billion to pay for the wars in Iraq and Afghanistan for the rest of this year and into 2007.
The war spending is on top of a nearly 5 percent rise in the Pentagon budget to $439.3 billion for 2007. Bush’s budget would also provide about a 5 percent increase in spending at Homeland Security, not counting hurricane-recovery costs.

The administration has said the deficit for this year will top $400 billion, driven upward by the costs of the war in Iraq and rebuilding the hurricane-ravaged Gulf Coast.
In all, Bush targets 141 programs for elimination or sharp reductions for savings of $14.5 billion next year.
Because of the huge deficits, the administration will be forced to ask Congress in coming weeks to raise the national debt limit, now at $8.18 trillion.
http://silverseed.blogspot.com/

Shanell Ville

Albert The Capitalist asked:


Although President Clinton raised only the highest marginal tax rates, he did give America the largest Capital Gains Tax CUT in American History. President Clinton cut spending by 3.5% percentage of the GDP. Clinton also reduced regulations, passed welfare reform, removed the retirement earnings test for Social Security, and passed NAFTA through congress. Although Clinton passed several bills like the Federal Housing Enterprises Financial Safety and Soundness Act, which helped lead to the destruction of our economy in 2008, his economic policies are a CLEAR reminder of supply-side success.

The high income tax on the rich helped pay for the debt and deficit, while his reduction in spending helped balance the budget. To keep employment rates high, Clinton reduced Capital Gains. But we must remember that the Republican congress made sure the budget stayed balanced (Congress controls spending and budgets.). Clinton at heart was more of a moderate, he said it himself. But by 1994 (Second year in Clinton presidency.), a republican congress was elected–one that made sure spending was low. One led by a REAL conservative leader, named Newt Gingrich.

Melissa

suzonka asked:


My wife and I joined a program for debt settlement WITH HOPES OF PAYING OUR CREDIT CARD DEBTS OFF which were around $17,000 total ,nothing,was done, were told not to answer phone calls, not to pay any card payments and let these bills go into collection and then GHS from Global Client Solutions would work with them to reduce the payments for us and then they would pay them off with the total of $ 2,600 taken out of our checking account automatically by there bank called Rocky mountain bank & trust so we sent to them our payments in total for 11 months until finally I received a summons from a collection lawyer and they GHS told us let their arbitrator talk to the lawyer, and we did and their arbitrator lady whom I couldn’t understand a word of English did nothing that I couldn’t do, after I had to go the the courts and get paperwork to file the claim , I went home and called and negotiated a settlement with the lawyer myself ,then when I pulled up the payments and transactions on line for our account I could not believe they, Rocky mountain bank and GHS were taking out $125.00 from our $220.00 payments,so were so upset and disgusted with GHS we canceled out the program with them ,we lost all that time and money that we could have been paying off the credit card debts ourselves.Never again will I go into debt resolutions or settlement . here is a copy of the statements, and the payment statements to our creditors that they paid nothing in 11 months.where did all these payments and fees go to? What do we do now ?
——————————————————————————–

08/28/2009 08/28/2009 08/28/2009 Cleared $9.00 Customer Fee Monthly Fee – 08/28/09 08/28/2009 02:46 PM 08/28/2009 03:43 PM SYS.Post.Fees.F F
08/28/2009 08/28/2009 08/28/2009 Cleared $116.94 Customer Fee Retainer Fee – 08/28/09 08/28/2009 02:46 PM 08/28/2009 03:43 PM SYS.Post.Fees.F F
08/17/2009 08/18/2009 08/20/2009 Cleared $220.00 Deposit Debit – 08/18/09 08/17/2009 02:53 PM 08/20/2009 03:03 PM SYS.Post.Drafts D
07/28/2009 07/28/2009 07/28/2009 Cleared $9.00 Customer Fee Monthly Fee – 07/28/09 07/28/2009 02:47 PM 07/28/2009 03:54 PM SYS.Post.Fees.F F
07/28/2009 07/28/2009 07/28/2009 Cleared $116.94 Customer Fee Retainer Fee – 07/28/09 07/28/2009 02:46 PM 07/28/2009 03:54 PM SYS.Post.Fees.F F
07/17/2009 07/18/2009 07/22/2009 Cleared $220.00 Deposit Debit – 07/18/09 07/17/2009 02:37 PM 07/22/2009 03:01 PM SYS.Post.Drafts D
06/30/2009 06/29/2009 06/30/2009 Cleared $9.00 Customer Fee Monthly Fee – 06/29/09 06/30/2009 02:28 PM 06/30/2009 04:03 PM SYS.Post.Fees.F F
06/30/2009 06/29/2009 06/30/2009 Cleared $116.94 Customer Fee Retainer Fee – 06/29/09 06/30/2009 02:28 PM 06/30/2009 04:03 PM SYS.Post.Fees.F F
06/17/2009 06/18/2009 06/22/2009 Cleared $220.00 Deposit Debit – 06/18/09 06/17/2009 02:24 PM 06/22/2009 03:01 PM SYS.Post.Drafts D
05/28/2009 05/28/2009 05/28/2009 Cleared $9.00 Customer Fee Monthly Fee – 05/28/09 05/28/2009 02:30 PM 05/28/2009 03:58 PM SYS.Post.Fees.F F
05/28/2009 05/28/2009 05/28/2009 Cleared $116.94 Customer Fee Retainer Fee – 05/28/09 05/28/2009 02:30 PM 05/28/2009 03:58 PM SYS.Post.Fees.F F
05/15/2009 05/18/2009 05/20/2009 Cleared $220.00 Deposit Debit – 05/18/09 05/15/2009 02:56 PM 05/20/2009 03:03 PM SYS.Post.Drafts D
04/28/2009 04/28/2009 04/28/2009 Cleared $116.94 Customer Fee Retainer Fee – 04/28/09 04/28/2009 02:42 PM 04/28/2009 03:57 PM SYS.Post.Fees.F F
04/28/2009 04/28/2009 04/28/2009 Cleared $9.00 Customer Fee Monthly Fee – 04/28/09 04/28/2009 02:41 PM 04/28/2009 03:57 PM SYS.Post.Fees.F F
04/17/2009 04/18/2009 04/22/2009 Cleared $220.00 Deposit Debit – 04/18/09 04/17/2009 02:49 PM 04/22/2009 03:01 PM SYS.Post.Drafts D
03/30/2009 03/30/2009 03/30/2009 Cleared $9.00 Customer Fee Monthly Fee – 03/30/09 03/30/2009 02:34 PM 03/30/2009 03:53 PM SYS.Post.Fees.F F
03/30/2009 03/30/2009 03/30/2009 Cleared $116.94 Customer Fee Retainer Fee – 03/30/09 03/30/2009 02:34 PM 03/30/2009 03:53 PM SYS.Post.Fees.F F
03/17/2009 03/18/2009 03/20/2009 Cleared $220.00 Deposit Debit – 03/18/09 03/17/2009 02:26 PM 03/20/2009 03:02 PM SYS.Post.Drafts D
03/02/2009 03/02/2009 03/02/2009 Cleared $9.00 Customer Fee Monthly Fee – 03/02/09 03/02/2009 02:50 PM 03/02/2009 05:58 PM SYS.Post.Fees.F F
03/02/2009 03/02/2009 03/02/2009 Cleared $116.94 Customer Fee Retainer Fee – 03/02/09 03/02/2009 02:50 PM 03/02/2009 05:58 PM SYS.Post.Fees.F F
02/17/2009 02/18/2009 02/20/2009 Cleared $220.00 Deposit Debit – 02/18/09 02/17/2009 02:37 PM 02/20/2009 03:01 PM SYS.Post.Drafts D
01/28/2009 01/28/2009 01/28/2009 Cleared $9.00 Customer Fee Monthly Fee – 01/28/09 01/28/2009 02:45 PM 01/28/2009 03:55 PM SYS.Post.Fees.F F
01/28/2009 01/28/2009 01/28/2009 Cleared $233.88 Customer Fee Setup Fee – 01/28/09 01/28/2009 02:45 PM 01/28/2009 03:55 PM SYS.Post.Fees.F F
01/20/2009 01/18/2009 01/23/2009 Cleared $242.88 Deposit Debit – 01/18/09 01/20/2009 02:23 PM 01/23/2009 03:00 PM PostDeposi

Barrie Tille