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Archive for September, 2007

how do i contact you

You may ask your question and include an email address with the question and I will get back to you with an answer if you’d like. Thanks.

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I am looking into a debt settlement program. One of my creditors is EnerBank USA, they are the most persistant and rude of the bunch. When the lady calls, and it seems to be the same lady everytime… she insists they do not participate with any debt programs and will sue me if I do not bring my account upto date within seven days. Do you know anything about EnerBank USA, or could you tell me if there is a way to find out if they are just trying to “bully” me or if they honestly don’t participate? Thank you!

Hello, thanks for the question. Unfortunately, there is really no way to tell but

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What Is Unsecured Debt?

Basically any debt that is not “backed” by an asset is unsecured debt. When you buy a home, the bank gives you a loan that is backed by the home itself and you sign papers that state should you be unable to pay the bank back, the bank has the right to take over your more »

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Credit Negotiation Company Ratings- Do They Exist?

Everybody wants to know “Who is the best credit negotiation company?” and honestly that is not the right question to ask. You really should be asking: “What Credit Negotiation Company is Best for Me?” Like anything, you need to find an honest debt negotiation company that you believe is the best for you. There is more »

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How Can I Do Credit Card Debt Consolidation?

Credit card debt consolidation really only means taking your bills and combining them into one monthly payment and there are several ways to do this. Typically the phrase applies to your unsecured credit card debt and sometimes even your mortgage, not utility bills and car payments. It is a term that gets over used in more »

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Is a Credit Card Debt Management Solution Right for Me?

People visit this site to learn more about their debt relief options and they want guidance on which solution is best for them. Unfortunately, there is no “one size fits all” answer to that question but generally here is when you should consider credit card debt management as a solution for you. 1. You have more »

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Does Debt Management Hurt My Credit Score?

The questions about credit scores is the most common one I get on this site. Debt management plan will not hurt your credit score as negatively as a debt settlement plan. Typically, when you enter a debt management plan it will be noted on your score that you are getting assistance in managing your credit more »

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what kind of rating does CURADEBT out of Cailf. have

I do not know the people at Curadebt so

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Scott: would you like to be a guest columnist on our eLetter?

Sure, Please submit an email address with your question so I can contact you to learn more. Thanks.

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I was told by one company that I can choose which credit cards to include in their debt help program and would be charged a fee of 15% of the debt on that card. They would negotiate a lower balance due the co. Does this sound reasonable?

Yes, the standard fee in the debt negotiation (settlement) industry is 15% of the

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Have you heard any negatives about the Johnson Law Group?

Hello. I am sorry I do not know anything about that firm.

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Is Bank Of America’s “Zero Balance” offer a scam? This is an unsecured loan of up to $50k and NOT a credit card, but it does have a “non-variable” rate which they reserve the right to change at their whim. I was thinking of using this to pay off higher interest rate credit cards.

To be honest, I do not know enough about what they are

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i owe about 15000 dollars to creditors..ans would like to lower my intrest on them or have one lower monthly payment. I am condisering higering a company to help settle my debt, but i can’t decide if that is the best choice because i am still making my payment within days of the due date. so i pay on timeish, but i am not making a dent paying of the actual money (just intrest), and i can’t afford to pay too much more..what would be the best route for me?

I would suggest you speak with a non-profit credit counseling agency to start and

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what about bank loans that one may have are they considered unsecured debt or can one get any help for that ?

No, bank loans are rarely unsecured. Typically bank loans are secured by an asset like your home or car, however, if that is not the case in your situation then it can be possible to negotiate with them.

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how do i collect a debt from a company still in business paying other vendors?

Hello. Unfortunately I don’t know your legal options in dealing with business debt. The subject matter

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my credit card was stolen by someone from my house. they did expences around 55,000. I lodged the FIR in the local police station. culprit has long network, so it will take time to catch them. i am a fixed salaried employee, i am unable to pay this amount. Is there any settlement process to solve this problem ?

Hello. As far as I know you are not liable for the charges put on your card by a thief. I think

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I have about over $70 thousand in unsecure debt and no matter how hard i have tried cant get out of it alone. i am looking into my options . i have read your wonderful site and see the difference between debt settlement and debt managment. which in your opionon is the best option. before finding this site my freind told me about creditsolutions.com but im hesistant as dont want to get stuck with a company that doesnt actually help and keep its promises. any advice?

Well, I hate to say it, but the truth is…it depends. There is no “best debt solution” or “best debt company”. Every situation is

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While in debt management, will we be able to sell our home and buy a new one; may be relocating, but would like to get our debt down in a more “comfortable” state.

Sure, you can buy and sell real estate while in a debt management program. However, it

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Is it too late for debt settlement, if third party collection agency are going to legal action?

In general, yes, it is too late if legal action has been filed against you. At that point you probably should consult with an attorney in order to determine your options. Thanks.

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I have a 80/20 arm mortgage scheduled to go up in november. I cant refinance because we are in so much debt. Do you suggest bankrupcy over debt settlement. Im currently in a ccc program that I cant afford.

Hello. Unfortunately I do not think debt settlement will be an option for you. As I am

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