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

ynot asked:


let’s me get this right he quadrupled the national debt has mortgaged our children future for maybe generations has lost over 2 million jobs reduction of revenue to the treasury
President Bush cut taxes for every working American help create 4 million jobs increase revenue to the treasury if you had to invest your money in one of these individuals which would you chose and why?

Am I now living in a Bizzaro world.
What I ment to say he was being considered for the nobel prize in economics here is the link thttp://www.agi.it/business/news/200910121811-eco-ren0037-nobel_prize_in_economics_obama_wins_again
As usual I get the name calling from liberals I love it ! I get the same reaction when I mention Palin,s name in their presence and watch them go ballistic

Evan Straight

Posh asked:


Could you please help me with my mortgage modification, I need to know if debt to income ratio is a factor in being approved. I also would like to know how much of a reduction the mortgage company can approve. Thank you.

Glory Hintz

jociemom asked:


We are at a loss right now with coming to a decision & feel that we need to ask strangers for their opinion.
I am 35 and my hubby is 41. We have a 3 year old daughter (4 in Sept). We tried for 3 years to have a baby and finally did with the help of fertility drug use for 3 months. The drugs cost $50 a month at the time.
My boss was not happy about me having a baby at all. He forced me to take leave 1 month before I was due then fired me while on maternity leave. It took me about 6 months to find a job and during that time we lived on credit cards.
Right now, we are going through debt settlement because of it. Our credit is not great. We only have a 2 bed room house and probably won’t qualify for a loan to get another home.
At the end of Sept, I am having ****** reduction surgery and I couldn’t even try to get pregnant until at least 6 months to a year ofter due to complete healing time, but I wouldn’t be able to ****** feed.
My hubby and I have one sibling, and I have always imagined myself having 2 children.
I am very happy with our daughter, but when I hear that my friends are having more than 1 children, I am happy for them, but sad for myself.
Due to our situation, what do you suggest?
Our daughter is very active is groups and makes friends very easily. She is in preschool, library group, church group, and dance. We try to get her involved in social activities because of being an only child. There are times, though that it breaks my heart because she comments on having nobody to play with, but even if we do have another, there is going to be 5 + years between them.
I am not having children because my friends are! I said that I am happy for them but sad for myself! I am not trying to keep up with the Jone’s, but I am sad because I know that my dream of having 1 more will probably not come true! Having children is not a competition and I know that!

Luther Munkberg

Heidi 4 asked:


The following are excerpts from U.S. Congressman Ginny Brown-Waite, of the Ways & Means committee, newsletter to her constituents:

Congress’ spending binge began with one trillion for the so called ‘stimulus’ which only stimulates more government & more debt.

This week we have learned more of Obama’s proposed budget which increases our national debt by more than three trilion dollars over the next five years and RAISES TAXES ON ALMOST EVERY AMERICAN & SMALL BUSINESS.

President Obama’s budget proposal is troubling due to the massive tax increases. His budget contains tax increases are hidden in using language like Cap and Trade when it shoul really be called “Cap and Tax”.——This proposal will TAX ANYONE IN THE U.S. WHO USES ELECTRICITY. President Obama’ economic advisors have admitted the budget proposal is misleading & that just when they expect the economy to recover, President Obama plans on instituting a $1 trillion to $2 trillion tax on all Americans who use electricity.

Another misguided tax increase is an attempt to reduce the extent to which some Americans may take Itemized deductions on charitable donations. The administration estimates the reduction will yield $318 billion in revenue in 10 years. This will discourage charitable giving at a time when charities are seeing a rise in the demand for their services because of the struggling economy. President Obama’s budget makes clear that he favors a massive expansion of the entitlement state in which the federal government will take the place of private charities.

President Obama’s budget proposal also contains cuts to the popular Medicare Advantaage program; means testing for Medicare Part D in order to push more seniors out of the prescription plan; and a cut of $10 billion in funding for the DEPARTMENT OF HOMELAND SECURITY so that he can increase the budget of the State Department more money to SEND OVERSEES hardly seems like an effective use of tax dollars.

Congresswoman Brown made clear that President Obama’s budget proposal is just that; a proposal. It is the beginning of the budget process, not the end. The law requires the President to submit a budget to Congress but the law does not bind Congress by the President’s budget. Congress has the discretion to reflect different priorities than those of the President.

From heidi4: Please everyone contact your own representatives and let them know how you feel on these issues. They forget but we must remind them they work for us!

Tona James

icanpfreely asked:


Due to lost of 60% of my family income we have no choice other then put our home in for a short sale or forecloser. We also had about $80,000 in credit cards debt which about two payments behind. I also had a rental property worth about $100,000 and owed about $49,000. the property was bought when I was single to help out a family member and they make all of the payment. If we are going to file for bankruptcy I am sure they would loose their home and that would be the last thing I would want to do. I know my family life is screwed up but don’t want that family member lost their home because of me. What could I do so they can keep that home? thanks
I forgot to mention We live in California.

Emily Krzyston

athithan.haran asked:


=> you have just lost your high paying job together with thousands more

=> Your house price has just crashed 30%

=> you have been putting all your savings in to your house but with the reduction of 30% basically you have lost all your savings.

=> You are unable to refinance cos you do not have equity on your house or any real other savings.

=> Your retirement savings via your sharetrading puraches pensions find has just crashed 50%

=> Now you going to be on the street cos the bank wants to repossess your house.

=> all your doller savings worth half as much as before the US doller crash

How do think the average American is going to Feel when this happens to him , through no fault of his own….

Crazy to think ha…but this looks very much like realty.

I think a riot/civil unrest /protest is on its way….

This what happend in Iceland before the country went bankrupt… total anacky

This is what may happen to United Kingdom ,and United States cos they are heavy in Debt with there economy in free fall.

American Economy will not recover any time soon, its in a death spiral
Sub Prime crisis caused the current economic crisis , now the prime borrowers are also loosing there jobs so the second stage of the economic crash is coming this time caused by the Prime borrowers not able to refinance or even get a JOB, this will require an rescue of the Banks( In trillions of Dollars) the second time(America can not afford this), This a staged collapse of the American economy happening in stages but will accelerate until the America officially declares Bankrupt and then has to devalue the currency and get a rescue loan from the IMF to restart there economy. They will have to increase the Interest rate to say 15% and have a sustained period of depression before there economy will recover may be after 15-20 Years.

America will go from a Developed nation to a developing nation after this crisis plays it self out, just like every other country they will have to bring in there spending and start to save before they can spend like before. This is what is in for America in the near short term.

Hopefully communities will get together help each other to weather this crisis rather than go in to a total Anarchy riot and Mugging killing , remember New Orleans , i hope this does not happen in America.

one way to fix this problem…

http://en.wikipedia.org/wiki/Official_gold_re …

currently have 8,133.5 tonnes in reserve =

they could sell all the gold reserve (highest in the world last time i checked doller was backed by gold in the 70′s ) they have in the reserve (at the current inflated prices) and pay off all there debt i think they should do that.

(http://en.wikipedia.org/wiki/Official_gold_re …)
i trillion = 1,000,000,000,000 dollers
USA gold reserve at current price = 8,133tones * 1000000g(per tonnee)*$34 (per gram)=$276522 000000

Jarrod Celentano

athorgarak asked:


$2.4 trillion of national debt in the first 5 months. (kudos to outgoing Presijerk Bush for 1/3 of that, I must admit)
Forcing out GM CEO wil not demanding that the rulers of the banking industry be removed and even prosecuted.
not demanding that American businesses stop sending jobs abroad, in a claim that it costs too much to pay american workers.
Not demanding that the importation of foreign vehicles be stopped, severely limited or highly dutied (Like Reagan did on Jap motorcycles to protect Harley-Davidson, although the vast majority of Japanese bike where in no way directly competing with HD products)
Designing changes to immigration to make illegals citizens, claiming that illegal need to have their status “defined”
Lying claims that a 10% reduction in the health care industry = $2 trillion in savings over 10 years (that means that the health care industry, in the US alone, generates $2 trillion, laughable, if it was not being touted by the media as truth) and that this will, somehow ease the national debt.
Back peddling on pre-election claims of bring our troops home within a year.
Stepping up attempts to rid the constitution of its absolute legal authority and stripping citizens of their rights.

Is he the worst president in America’s history?

Darla Flatter

Capricassy asked:


I form non bias opinion on answers. I will provide evidence on why we are in a recession. If you don’t agree then that is you’re own decision and it is respected by me. However I will challenge you to see what parts of this info is not seen in the market…and why it cannot be defined as a recession.

THIS IS LONG BUT IT PROVIDES REASON FOR WHY IT IS A RECESSION:
The public was addressed by the secretary of state three weeks ago with the state of our economy. It was concluded there was a sign of recession on way. However, many believe this started in November as did the subrime lending create decrease in mortgage lending. I am one of those people. I don’t believe that subrime lending was the only cause. So since subrime lending fiasco started two consecutive periods ago….this indeed has led to a economic fall. GDP is important…and I have seen it fall also…but it has not reached two consecutive periods…but it will, no doubt. (that is my own opinion) Note that the GDP-growth (real seasonally adjusted annual rate) for the last quarter of 2007 was 0.6[31] as revised on February 28, 2008. It was 2.2 for all of 2007.

Nouriel Roubini has outlined a harsh 12-step scenario.[32]

U.S. home prices will fall between 20% and 30% from their peak. NYTimes chart ALSO TODAY IT WAS ANNOUNCED THEY HAVE FALLEN 60%
Losses to the financial system from the subprime disaster, as high as $300 billion, are now spreading to near-prime and prime mortgages.
The recession will lead to a sharp increase in defaults on other forms of unsecured consumer debt.
Monoline insurance companies will take losses on their insurance of residential mortgage-backed securities, collateralized debt obligations and other asset-backed securities products, which are much higher than the $10 billion-to-$15 billion rescue package that regulators are trying to arrange.
The commercial real estate loan market will soon enter into a meltdown similar to the subprime one.
Some large regional or even national banks that are very exposed to mortgages, residential and commercial, may go bankrupt. Bear Stearns Companies, Inc. collapsed on March 16, 2008, and was bought out by JP Morgan Chase.
Banks’ losses will grow as a result of hundreds of billions of dollars of leveraged loans on their balance sheets at values well below par, currently about 90 cents on the dollar.
Once a severe recession starts, a massive wave of corporate defaults will take place. Typically U.S. corporate default rates are about 3.8% (1971-2007); in 2006 and 2007 this figure was a rather low 0.6%. And in a typical U.S. recession such default rates surge above 10%.
The “shadow banking system” (as defined by Pimco, it is composed by non-bank financial institutions that borrow short and in liquid forms and lend or invest long in more illiquid assets), will soon get into serious trouble.
Stock markets in the U.S. and overseas will start pricing in a severe U.S. recession and a sharp global economic slowdown.
The credit crunch that is affecting most credit markets and credit derivative markets will lead to a drying up of liquidity in several financial markets, including otherwise very liquid derivatives markets.
A vicious cycle of losses, capital reduction, credit contraction, forced liquidation of assets at below fundamental prices will ensue, leading to further credit contraction
Any questions?
John…man are you serious…”labeling”?

C’mon…now. GDP is gonna say the same thing I pulled off wikipedia. So what are you getting at? You have to come out with something more than characterizing my question as labeling. No offense…i mean you are the only one that answered in 30 minutes. So its looking like people aren’t conflicting with a recession being here. Thats good.
Good answer though.
Piatchi..thats a great analogy…lol. Bear Sterns was baught by JP Morgan and Chase when it had substancial losses…but hey it DID survive the depression. Just take a look at any site it will give more info. Thanks for answer.

Angella Kilmer

Zenna H asked:


1- which of the following is considered a legitimate concern of a large public debt?
a-bankruptcy of the federal government
b-crowding out fo private investment
c-burdening future generation
d-collapse of the financial system

2- the crowding-out effect of expansionary fiscal policy suggests that?
a- government spending is increasing at the expense of private investment
b-imports are replacing domestic production
c-private investment is increasing at the expense of government spending
d-saving is increasing at the expense of investment

3-which of the following best describes the built-in stabilizers as they function in the U.S.?
a-the size of the balanced-budget multipier varies inversely with the level of GDP.
b-personal and corpoate income tax collections automatically fall and transfers and subsidies automatically rise as GDP rises
c-personal and corpoate income tax collections and transfers and subsidies all automatically vary inversely with the level of GDP.
D-personal and corpoate income tax collections automatically rise and transfers and subsidies automatically decline as GDP rises

4-assume that aggregate demand in the economy is excessive, causing demand pull inflation. which of the following would be most in accord with appropriate government fiscal policy?
a- an increase in federal income tax rates
b- an increase in the size of income taxexemptions for each dependent
c- passage of legislation providing for the construction of 8,000 new school buildings
d-an increase in soil conservation subsidies to farmers

5-assume the economy is at full employment and that investment spending declines dramatically. if the goal is to restore full employment, governmet fiscal policy should be directed toward?
a- an equality of tax receipts overs government expenditures
b- an excess of tax receipts over government expenditures
c- an excess of government expenditures over tax receipts.
d- a reduction of subsidies and transfer payments and an increase in tax rates.

6- suppose the price level is fixed, the MPC is .5, and the GDP gap is a negative $80 billion. to achieve full-empolyment output exactly, government should?
a- increase government expenditures by $80 billion
b- reduce goverment expenditures by $40 billion
c- reduce taxes by $40 B
d- reduce taxes by $80 B

7- an economist who favors smaller government would recommend?
A-tax cuts during recession and reductions in government spending during inflation
b- tax increases during recession and tax cuts during inflation
c- tax cuts during recession and tax increases during inflation
d- increases in government spending during recession and tax increases during inflation.

8- if aggregate demand increases and aggregate supply decreases, the prie level?
A- will decrease but real output may either increase or decrease
b- will increase, but real output may either increase or decrease
c- and real output will both increase
d-and real output will both decrease

9- an increase in input prductivity will?
a- shift the aggregate supply curve leftward
b- reduce the equilibrium price level, assuming downward flexible prices
c- reduce the equilibrium real output.
d- reduce aggregate demand.

10- in which of the following sets of circumstances can we confidently expet inflation?
a- aggreagate supply and aggregate demand both increase
B- aggreagate supply and aggregate demand both decrease
c- aggreagate supply decreases and aggregate demand increases
d- aggreagate supply increases and aggregate demand decreases

11- an increase in net exports will shift the ?
a- aggregate expenditures curve upward and the aggregate demand curve rightward
b-aggregate expenditures curve upward and the aggregate demand curve leftward
c-aggregate expenditures curve downward and the aggregate demand curve rightward
d-aggregate expenditures curve downward and the aggregate demand curve leftward

12- the aggregate supply curve (short-run) slopes pward and to the right because?
a- changes in wages and other resource prices completely offset changes in the price level
b- the price level isflexibe upward but infleible downward.
c-supply creates its own demand
d- wages and other resource prices adjust only slowly to changes in the price level.

13- which of the following would not shift the aggregate supply curve?
a-an increase in labor productivity
b- a decline in the price of imported oil
c- a decline in business taxes
d- an increase in the price level

Thank you 10 or 15 points to the best answer thank you again

Vanita Kearl

guamtinkerbell asked:


We are in debt…about 20,000. My husband has signed up with Credit Solutions…a credit reduction company. I have already told him not to resort to debt consolidation so he is going the route of credit reduction instead. But something in my gut is telling me that we can’t trust these Credit Solutions people. My husband is paying them a little over 100 a month for their “services” and after 3 months I have yet to see them even begin to do their job. I told my husband to call them up and light a fire under their *****. But they just keep throwing promises in his face and now I am on the verge of a panic attack. (we are living comfortably, but on a paycheck to paycheck basis almost)

ANY ADVICE would be greatly appreciated…thx in advanced

Clementina Mugrage