So, this is a follow-up to this previous question. Looking for some tips for next steps. Long story short, after moving out of a DC apartment in May our corporate landlord billed us a totally bogus damages. Now they've sent it to collections and it's showing up on the credit report. How do I fight this and get it off my credit report for good? [more inside]
Young couple living out their dream came to an abrupt halt in October. He was diagnosed with a particularly aggressive form of melanoma. They had not signed up for Affordable health care insurance, since they were planning on traveling and working around the country. And hey, they are young and healthy, right?? [more inside]
We are a well known bicycle brand, and one of our local dealers closed up shop over night with no notice to us or even their employees. They have over $20,000 in debt with us. What are our options? Our dealer owes us over $20,000 in debt for stock, with some invoices close to 4 months past due. [more inside]
Should I refinance my mortgage, cash out equity to pay off debt. [more inside]
I currently pay one full week's pay each month, $600, toward my current student loan balance of $97,000+. Though I usually just pay it and try to move on, I know it will follow me to my death and if I can't be rid of it I hope some of you can provide some kind of advice or coping strategies. I have read through a fair number of related questions. [more inside]
Wondering if you could help with a risk-benefit analysis of lowering the amount of insurance on my car. I still owe money on it, but I could potentially pay it off and then save money on my insurance. BUT is the insurance good to have anyway? [more inside]
Who should I talk to about long-ago debt and my credit score? Is that the sort of thing a new credit union will do, or would that just hurt my interactions with them? [more inside]
Family member is in debt and needs help getting out of debt. I've researched both Appraisen and Clearpoint but both seem to be run by a corporation. I don't know if that's a good thing or not. Some credit counseling firms have charged big fees and gotten some people in worse trouble and even deeper in debt. I don't want her to get locked into something worse. Do these really help? Are they legit?
I've noticed that when collection agencies buy debt, they often, though not always, significantly inflate the original debt. Do any laws govern how much they can do so? If not, how is it possible to be liable for an amount that someone has essentially made up? [more inside]
Thinking ahead to my eventual retirement, I phoned Sallie Mae earlier this year, and spoke with a rep who was easy to chat with, and seemed well-informed and helpful. I asked her if there was any sort of discount or other concession made for student loan payments once the debtor retired and began drawing Social Security. Her answer was that, good news, once I provide Sallie Mae with documentary evidence that I am drawing Social Security, the balance of my loans would be waived. [more inside]
I recently graduated and I've been working as a Jr. Engineer for a few months now. I realize now that this is not a career/field I want to be in and have been strongly thinking about going back to school to get a Computer Science degree. The problem is that I have 35k in loans from my previous degree and I need to make a decision soon. Am I being reckless for wanting to do a career change so soon? [more inside]
What's the worst that will happen to me if I use my HSA card for a non-medical bill? Or a few. [more inside]
Fell on some hard times in the last two years, blah blah blah... Anyways...We built up about $18,000 in credit card debt, with little savings left.... We are slowly getting back on our feet and would like to minimize the damage of interest that will build as we try and pay this card off... [more inside]
Received a panic-inducing document marked "SECOND NOTICE" concerning my student loans today. It states it's from a "consumer advocacy group," but makes some ridiculous claims and includes no organization name or contact information except for a phone number. Should I bother to report it? And, if so, to what entity? [more inside]
Asking on behalf of a friend (let's call her "Liz"): can a credit restoration company help fix a credit report with multiple charge-offs? If not, what CAN be done? Sadly drifting swirls of bleak gray snowflakes within... [more inside]
briefly, over the last 3 years i experienced various times of unemployment. I've unfortunately accumulated about $45k in credit card debt. Does it make sense for me to have a debt consolidation service negotiate my balance down at the expense of my credit? [more inside]
I have set myself a goal of paying off my $10k credit card in the next 6 months. After I cut out all luxuries, entertainment, eating out, new items for myself etc, the main variable is food. I have trimmed the fixed payments where I can and accepted the ones I can't. I need to feed myself, my partner, my 9 year old daughter and my dog. Please help me do this as cheaply as possible! Short term pain, long term gain and all that. [more inside]
I recently received a letter from Pioneer Credit Recovery, informing me that my debt of ~$1500 in state taxes has been assigned to them. There are some details that make me unsure how to respond. [more inside]
I am writing this on behalf of my almost-ex-husband. He has owed between $80,000 and $100,000 to the IRS since 2003 and has done almost nothing about it. More details inside. [more inside]
Can you recommend budgeting and personal finance courses, or where I should be looking for such a thing? [more inside]
Follow-up from my last question. My 'proof of debt' packet arrived, containing 1) the same bogus justification for (most of) the debt as before, AND a brand new thing: both of my previous payments, toward the undisputed portion of the debt, are now preceded by a charge labeled 'bad debt collection' in the exact amount of those payments, canceling them out. What's my next step?
My family's income has just increased, and we're having trouble choosing between financial priorities. Advice? [more inside]
I get it: never lease a car. Well, we have two. Following Dave Ramsey's money makeover, we've got more than our 1,000 emergency fund, so how do we start attacking our debts? He says start with the smallest and just start knocking them out. So...how does a car lease factor in there? [more inside]
I've got an unusual set of circumstances involving student loan debt... could really use the advice of a lawyer. Anyone know a good student loan lawyer in the greater PHX metro area?
I have somewhere around $60,000.00 of student loan debt. Its all one loan consolidated with the US government but managed by a private company called Ed Financial. I would like to try negotiating a pay off for less than what is due. Details and further questions inside. [more inside]
In disputing a debt with a collector, how do I address this language from their letter: If you notify this office in writing within 30 days from receiving this notice that you dispute the validity of this debt or any portion thereof, this office will: obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. [more inside]
(USA) I heard something about student loan payoffs based on a % of your income,and after 12 (?) years anything left is forgiven. Is this real and how would one get this? [more inside]
I'm potentially interested in going to medical school. I have been doing research online, and have lots of questions about this prospect, but I want to limit it to two interrelated questions today. [more inside]
So when I was in college I ran up a $700 credit card debt with Citibank visa. Then I didn't pay it. And for over a decade my credit was crap. But eventually I turned it around and have good credit again. So here's my question: I need to get a credit card for one of the biggest hotel chains as I stay there for business a bit. I'd like the benefits and points maximizing. Problem: the best card is run through citibank. Since my teenage folly I've changed my name but I still have the same SS#. Will applying today reactivate the debt with them?
Every month my company sells roughly $15,000 worth of monthly recurring revenue contracts with five year term lengths. The service sells for $1,000 per month so every month we sign on 15 new customers. $15,000 * 12months * 5 years = $900,000 (total contract revenue for all 15 contracts sold during the month) We've maxed out our borrowing on physical assets held by the company and I need to find a way to unlock these revenue streams to use as collateral for further growth. What's the best way to do this? I would prefer to not have to go to every customer and amend their contracts in any way. Thanks!
I have $85k in student loan debt, and need to increase my income so I can pay it off. I need a bigger spoon to eat this elephant. Fishing for ideas. [more inside]
My in-laws in South Carolina, who don't have a stellar history with money, are facing some challenges that are really restricting their circumstances. They're not against cleaning up their act in terms of budgeting and being smarter about money, but don't really have a head for it. What's the best way to help from a distance? [more inside]
I have $40,000+ in debt, a bachelors degree in criminal justice, an EMT-B license, a basic computer tech certificate, 4 years of customer service experience as a banquet server, a bad driving history, and one misdemeanor - how can I find a better job than being a banquet server? What can I do to be competitive? Should I attend police academy or not? What are my options - what can I do to improve my life? [more inside]
I'm living with just shy of $50,000 of debt. That's actually pretty crazy to say. $18k of it is credit card debt. $22k of it is owed to the IRS (terrible decisions while freelancing). It was recently down to $20k, but I missed one of my monthly $500 schedule payments so I got hit with a sizable penalty. The rest of it is a Sallie Mae student loan. [more inside]
My mother is in between work right now, with very sporradic temp gigs that don't pay enough. I think she needs to talk with a bankruptcy attorney, but she's ashamed and intimidated. I'd like to help her by giving her actual referrals. Difficulty: I'm long-distance from her. She is located in Lynchburg, VA. General advice would also be welcome--for example, how long might she be able to drag out the foreclosure and still live in her home? Details inside! [more inside]
I am in financial difficulties because my wife and I are unable to work. The debts are mounting up, and I need some help. Can you recommend a credit counseling agency? [more inside]
A medical bill was sent to collections. I am 25 and have no credit and no money. What do I do? Is it even possible to fix my credit? [more inside]
What should Australian property owners and potential buyers be wary of in regards to USA's credit rating going down? [more inside]
I lost my job, am having trouble finding a new one, am running out of freelance jobs, have $60 in my bank account, and don't know where to go from here. What on earth is my next step? Please help me think. [more inside]
My friend thought the money she owed a university was being taken care of by her current payments. This weekend someone in her family gets a call from debt collectors. Apparently the financial aid office has been sitting on a lump of debt for a full year, but has only attempted to contact her during that time at a single email address, her old school one. They never sent any letters to her home address, nor called her at the number she's had for years. Now instead of setting up a payment plan she'll have to negotiate with a predatory collections agency. Is there any way out of this mess? [more inside]
Hi all. Mrs Professorpotato will be giving birth to our first child in late November. We need to upgrade from a 2012 Chevrolet Sonic to something suitable for a baby + all its stuff (seat, pram, accessories), a small dog, and two loving parents. We're looking at a 2013 Jetta in the 17K range as we don't drive much but need reliable transportation. The Sonic has about a 12-14K trade in value and about 22K owing (debt consolidation + depreciation). We can comfortably afford payments of $400-500 per month. Anyone been in a similar situation? Tips? Thanks. PP.
Have a lawyer, but uncertain of services rendered so far. Tricky, complicated situation - more details inside! [more inside]
Once a debt has gone to collections, is there any reason to pay it off? [more inside]
I'm on SSI for disability, with a long-outstanding credit card debt that's gone to collections. They keep offering me settlements, but a settlement would produce a 1099-C, and Social Security would count the cancelled debt amount as unearned income, which they take dollar-for-dollar out of my SSI checks. That's no better than paying the debt in full (which has been impossible for years and will be for years to come). Do I have any options other than continuing to ignore them? [more inside]
A few years ago I posted here to ask for help after having my identity stolen by my mother. It turns out that this has now happened to my younger brother as well, but he isn't being smart about it. How can I help him? [more inside]
This is not the question I wanted to ask this week, but last week, my employer forgot to submit my first time card on time, and I will (very) possibly not get paid this week. I am very poor right now. [more inside]
Is it possible to see a professional who is kind of a cross between a financial advisor and a therapist? I've spent my life getting deeper in debt and I can't bear it anymore but I feel I need not just practical help but to understand why and sort out my head. I'm an intelligent person with a good job but I'm broke and stressed every month and no matter what I try it just gets worse... I am in the UK.
YANM financial advisor. My domestic partner has a large student loan that has been in default for years. Like many in the current economy, he was unable to make payments for many years after graduating (at least 5) due to lack of steady income. Now he has a Good Job (yay!) and could afford to make payments, but it's been almost 2 years now and he hasn't made progress on dealing with the debt. How bad is this? [more inside]
I have some bad consumer debt from a period when I was un- and under- employed. I contacted two different professionals for help in sorting it out, and as far as I can tell, they both gave me terrible advice. [more inside]
I've been accepted to the program of my dreams, but I'm not allowed to hold a job while in attendance, and my EFC is higher than my family can afford, so my school-determined need is too low for me to even support myself with loans. Are there any options I'm missing? [more inside]