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

ExcitableB asked:


I obtained a Chase Credit Card about a year ago with a $5,000.00 credit limit an 0% introductory rate. I transferred a balance from my Discover card to that card to save on Interest Rates and haven’t increased the balance on the Discover Card, paying the minimum on the Chase card and continuing to pay down the Discover balance. I didn’t have any issues with Chase and when they opened a branch near my home, I decided to move my Checking Business to them.

I have about $7.000.00 every month deposited into the checking account from salary and expense reimbursements through my employer, so they were on track to handle over $80,000.00 of my money in the course of a year. I received notice today that the Credit Limit on my Chase Card was being reduced from $5,000.00 to $4,200.00. My balance on the card is still below this and I have never been late on any of my payments to any of my creditors, so it’s not an issue although the reduction will have a very minor impact on my Debt to Credit ratio. It had a much bigger impact on my views of Chase and what they think of my business. I requested they reconsider this decision factoring in my Checking Account and they declined to reverse their decision.

It’s funny because yesterday, I received an offer from them for $100.00 if I opened a CD account. I had actually been considering refinancing my house through them as I didn’t have an issue until now. Now Monday, I’m going to go down and open a checking account with a local bank and move all of my checking business to them.

Why would Chase, or any bank for that matter, take such a dim view on their customers?

dsjnix asked:


My company is waiting for some contracts to come through. In the meantime everyone in the company had to take either a 25%, 50% or 100% pay reduction. I fell into the 50% category. Our family budget is now short by about $500 a month. I am looking for a second part time job to make up for this. I also have about $3000 in stock in my company. I could start selling this off at $500 a month to make up for the shortfall if I need to. Do you recommend this? We would be ok if it were not for credit card debt which is over $800 a month. It is our debt and we feel obligated to get it paid. Do we sell the stock to stay afloat and save our credit? Others have told me to let the credit cards go until this passes, but I have good credit and **** to ruin it.

Lang Frederico

Eddie asked:


What Are the Causes and Effects of the Great Depression?
The Great Depression has affected the United Sates in many ways and has caused a loss that we can never fully recover from. It was gap in U.S. history that had cost us many lives and jobs. The depression began in late 1929 and lasted for about a decade. The 1920’s or “The Roaring Twenties” played a big role in causes of the great depression. The 1920’s were a time of peace and great prosperity. After World War I, the “Roaring Twenties” was fueled by increased industrialization and new technologies, such as the radio and the automobile. Air flight was also becoming widespread, as well. The economy benefited greatly from the new life changing technologies. As the stock market soared, many investors quickly snapped up shares. Stocks were seen as extremely safe by most economists, due to the powerful 1920s boom. Investors soon purchased stock on margin. Margin is the borrowing of stock for the purpose of getting profit. If a stock drops too much, a margin holder could lose all of their money and owe their broker money as well. From 1921 to 1929, the stocks rocketed. Millionaires were created instantly. Soon stock market trading became America’s favorite pastime as investors bought stocks to make a quick profit. Investors mortgaged their homes, and foolishly invested their life savings in hot stocks, such as Ford and RCA. To the average investor, stocks were a sure thing. Few people actually studied the fundamentals of the companies they invested in. Thousands of fraud companies were formed to trick uneducated investors. Most investors never even thought a crash was possible. To them, the stock market “always went up”. By 1929 the stock market reached its all time high and investors were buying stocks by the dozen. Then all of a sudden prices started lowering. All investors sold their stock buy no one wanted to buy. This one day had caused a decade of Depression.

The causes of the Great Depression
In 1929 a panic on the New York stock Exchange introduced a mouth dropping effect. The stock market that had been giving everyone the profit they wanted collapsed. Several events that occurred before 1929 caused this to happen on a long term basis.
During the roaring twenties everyone was prospering and making profit. The manufacturers were trying to sell there products to as much financial groups as possible, but they were unable to lower there prices so the poor can buy there products. (Lamb, Annette 2008).
The government came out with the process of credit. It worked by a person buying a product over time paying a monthly bill. For example, if someone wanted to buy a washing machine that cost $500 but they only had $100. They would pay there $100 and then pay a certain amount every month till the washing machine was paid off. The government also charged the buyers more than the product actually cost in stores, so in the end they wound up paying more than the original price. This process put many Americans in debt. In record almost every American spent 75% of there yearly income on consumer goods. (Lamb, Annette 2008).
When Americans put more on credit than they could afford they went into debt. This happened to many Americans making the nations total go down and causing a worldwide problem.
The short term reason for the stock market crash of 1929 was the middleclass people getting into the stock market. Middle income people started buying stocks on margin in order to get themselves in on the economic boom the U.S. was having during the roaring twenties. At that time there were soaring prices for stocks. People paid a small percentage of a stock’s price as down payment and borrowed the rest from a stockbroker. (Lamb, Annette 2008)
The system worked well as long as stock prices were rising. If they fell, however, investors would have no money to pay off the loan. In September 1929, some investors began to think that stock prices became too high. They started selling their stocks, believing prices would soon go down. By Tuesday October 24, the gradual lowering of stock prices had become an all out slide downward. A panic resulted. Everyone wanted to sell stocks, and no one wanted to buy. Prices plunged to a new low on Tuesday October 29. A record 16 million stocks were sold. Then what Americans thought could never happen, the stock market collapsed.

The effects of the Great Depression
The Great Depression affected not only the people but the country as well. International trade and industrial production dropped sharply right after the stock market crash of 1929. Wages shrank, unemployment rose, and widespread misery proved that something was wrong with the economic system. The whole world felt the impact of this tragedy but Americans suffered it the worst. (Slee, Tom 2008)
What people in America noticed almost instantly about the Depression was the reduction of their incomes. In addition to millions of wage earners who were thrown out of work entirely, millions more became part-time laborers. Even those who kept full-time jobs often had to accept a reduction in wages. (Slee, Tom 2008)
In addition to the cut wages the Depression also affected international trade and manufacturing which shrank rapidly and filled many people with apprehension. In 1929 the estimated value of United States imports and exports had reached almost ten billion dollars. (Mandel, William 2008). By 1933 the value had dropped to three billion. Furthermore, American industrial output was cut in half. This had a big affect on the United States because most of there exports were used by the government to pay bills.
With all the people taking there money out the bank to try and recover their savings, the banks went bankrupt. Thousands of banks were forced to close as a result of this. Business owners also suffered from the Depression. With there bills and debt rising they were no longer able to pay there workers or buy their products, and were forced to fire many workers. (Mandel, William 2008). It was hard to find affordable materials and eventually many businesses had no choice but to close.
The dislocation of trade and industry, the falling prices, and the rising unemployment that came with the Depression forced statesmen and economists to seek remedies. But the experts could not agree in what was wrong or what measures would prove most effective in restoring the U.S economy. The solution to this problem would soon come. (Mandel, William 2008). During the 1930s the government was providing weapons, tanks and other much needed necessities to Great Britain under the lend-lease act. This was a pre-start to the coming war effort. In 1939 when America was hit at Pearl Harbor, World War Two struck out. Many Americans enlisted to go to war in order to get money and start a new life for there families. (Mandel, William 2008). With all the needed supplies for the war, the government hired people in factories to make weapons, munitions, tanks, airplanes and any other supplies needed for war. This was a big opportunity for unemployed people and many took the job as factory workers. As the unemployment rate was lowering so was American debt. (Mandel, William 2008). With people getting money and paying off there bills, they were able to buy everyday items to keep them going. This cycle opened many more businesses and eventually pulled the United States economy out of the Great Depression.
ok well this is my social studies report on the causes and effects of the great depression. it is split into three parts. the first is the introduction and explains what led up to the great depression. the second is the causes and the third is the effects. i just need you just to edit my grammar and punctuation and im good. also i still need a conclusion if you can help me with that.
ohh yea and the names with parenthesis and years are just giving credit to the sources i used. don’t ask my teachers made me do it….
i did this all in like a night and i think i deserve to get it edited for all the work i went though. and i **** at grammar so i cant edit it myself.

Alona Bonker

owaowa asked:


Hello,

I have a huge problem with my ex and our house that we share. To sum up the story, we were never married just engaged when we bought the house in 2006. We broke up 1.5 year ago and I moved out since he wanted to stay and make payments. We had a huge fight when we broke up. He tried to have me sign the deed of our house over to him and still keep my name on the mortgage. In addition to closing and taking our savings that we had. This was all after, I agreed to take half of his credit card debt (all in his name) since it was our debt technicaly and I felt quilty of him just paying back for it. This was all before the deed scenario.

We sort of had a falling out and things just remianded where he stayed there and was making payments. Now, he started to email me again regarding the house, I received 20 emails in about a week from him. I’m just scared that he will take advantage of me, he is foreclosure/real estate attorney and I’m having a hard time believing him especially after the break up. He’s deceived me so many times in the 6 years we were together in every way possible.

He is telling me the new options that are available and that we could finally resloved this situation. Here is a snap shot of the email that I got from him

“1. Prevent damage to either of our credits.
2. Ideally, get rid of the house either via short sale, deed in lieu (which
means give the house directly back to the bank), or principle reduction and
then sell. I don’t need a 3bd house at $2k/mo. This depends on what the
bank will agree to. It’s not in my control, but I will pursue and argue for
this as much as possible.
3. If getting rid of the house is not possible and we are stuck with it for
now, then I would at least like to reduce the payment via an interest rate
deduction.”

This was all after he told me how he was doing very well with his law firm in the inital email and that his accounting (he’s a cpa as well) contact expired and he can be considered unemployed giving us a golden ticket out of this mess. I just don’t know what to think, he wants me to send my documents to our mortgage bank so they can look at the options. I told him I would do this monday after he kept emailing me non stop. Do you guys this I need to get a lawyer and if so what kind rela estate/family. I’m so scarred of him and I don’t know what to do nor do I have any $ to do anything. I work and go to school and I’cant afford any extra attorney expenses. Can someone please give me any sort of advise, I have no family/friends to turn to. I’m scarred for my life and I don’t want to have anxiety attacks like I used to.

To emails that he sent were vague and he initially wanted to do a modification option but now he is saying he’s ok financially but wants the option #1 in the email. He is always vague and always has a alternative motive with everything. To make things weirder, he emails this to me after he breaks of with his gf (who’s company is moving into my office bulding, on the same floor on monday). He sent me an email the next day after they break off. I also know some people at his gf compnay since my ex used to work there (he got her a job there) and I’m freaking out even more.

I don’t know what to do. I feel so scarred and I was on medication for a year due to our break up and the aftermath that occured. All of ‘our friends’ stopped talking to me since I met them through him (incuding the one’s that are moving in next door), At one point I even tried to kill myself by overdosing on my medication. I thought I was ok since I’ve been seing a therapist but him emailing me has brought everything back.

Sorry for the long question. Any advise would be appreciated. Thanks

I also tried to call the free government number they have available, but they don’t seem helfpul.

Janeth Deir

Edward asked:


Would i Be a Liberal or Conservative(Neo,Fiscal,Social)

- I’m For Raising and Cutting Taxes wisely and when needed

- I’m for deficit and national debt reduction

- I’m for Balancing the Federal Budget

- I’m for Deregulating and Regulating when needed

- I’m for *** Marriage

- I’m Pro-Choice

- I’m Pro-Environment
(Loose Change)

I’m Pro- Affirmative action

Dorothy

tnbedroomeyes asked:


Compose a 500- to 750-word paper that includes your answers to questions 2-4 on p. 79 (Ch. 2).

Lucent Technologies: evaluate the asset, debt, and equity structure?
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? 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 $ 15911

Spencer Utzig

Mister2-15-2 asked:


Remeber title! Tvelve Crown Princes in Arabia get killed in plane crash. This was not half as startling as what their wills said: they left most of wealth possed to USA but it could only be used for debth reduction. Getting caught up in buzz twelve females associated with princes bequested half their wealth, and two computer eastern gates doniated most of their wealth with the same conditions. The total amount was enough to pay off entire National Debt. Remeber titled again, because congress pass bill and presidents sign it that called in all outstand debt, and were court battle looks to large congress offers bonus to cash in very long term insturments held. Question, What would happen in USA Finical Markets, if government had no debt?

Bobbie Wabasha

edgehog74 asked:


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? 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 $ 15911

Dinah Cavin

roseareforyou asked:


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?

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
ShareownersÂ’ 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 shareownersÂ’ deficit (1,379) (4,239)
Total liabilities, redeemable convertible preferred stock
and shareownersÂ’ deficit $ 16,963 $ 15911

Cesar Lam

plazmaplanna asked:


Or..will it only be added to our national debt and the tax payers will pay it through inflation? Neither candidate will deal with the debt..but if there was one i’d say it would be mccain because he actually talks about a reduction in government spending and government altogether. what say you?

completely agree brady..but how can we exactly do that? none of us can actually go to washingto dc and say “hey! get your act together..” if we can figure out how to get their acts together then…well that would solve alot of problems ><...but if there was a way to slap washington around then i would do it..anyone have some idea's?

Belva Ferriter