Payday Loan Fairy

I have a fantastic, totally new concept for you....STOP SPENDING MONEY AND PAY YOUR BILLS. I know this sounds strange to you, but you didn' t 'earn' that FICO doing the right thing. If you do not set about to repair that mess, you will never own anything of value, you will pay outrageous interest rates on any loans you may be able to get on a very old used car, and you will not have your pick of where to live...in fact,, I doubt if you could rent an apartment with that score. Wise up and get to work. There are NO miracles going to happen to save your butt. You got yourself there by not paying for what you took, and you are seriously in over your head. Start today to dig yourself out...it will take a lot of time, but you can do it if you set your mind to it. If you don't, prepare for a lousy life with no home of your own, no nice cars, no...NOTHING! good luck

2006-05-20 12:51:52 by miabbyally

FindLaw provide 5 debt relief options. URL: www.findlaw.com

Don't do it....what they can do for you, you can do for yourself. All they would do is contact the creditor and see about getting your debt negotiated down to a certain amount. Then they would raise that price a little bit higher so they could make money off of it. I highly suggest contacting the creditor yourself and doing it that way. Most creditors are understanding of financial difficulity and will be willing to settle for as much as 75% sometimes off of your bill. Just make sure if you do it this way to get a written receipt of proof of payment after you pay it off. This way you have proof.
Edit: the person below basically copied my answer *sigh* hate it when people do that

2007-05-06 19:22:41 by hakhverdyan27

I am an investor and a real estate salesperson.

Limit your needs.
Reduce your debt
Increase your commissions.
You haven't included enough specifics to make any advice worthwhile.

2007-05-21 18:52:58 by Chandra

I have a gredit score of 723-740 depending on the reporting agency. I have never had a late payment but carry 100k+ in Credit Card debt. With the slowing economy and realestate slump, my income level has really dropped. Starting next month I will have a $1700 monthly shortfall for my minimum credit card payments. My payments total $10,000 a month and I can afford $8300. I've read that debt reduction companies will destroy my credit, and with the real estate slump, debt consolidation loans are not possible. Anyone have a solution that can help me maintain my good credit rating?
My business has been flipping homes. My credit card debt comes from buying appliances, cabinets, flooring etc. for the homes I buy. Because of the real estate slow down, I am forced to rent a number of homes that I had hoped to sell outright. This is the reason for my monthly shortfall. Also because these homes aren't my primary residence, a 2nd mortgage (debt consolidation loan) is not possible.

Sounds like you made lots of money during the real estate boom. Many people are going through what you are going through right now. Realistically, when you are in need of debt relief, you have about 4 options:

1. Try to increase your income somehow. Possibly by getting another job.

2. Get a debt consolidation loan. This will typically put you back in the same situation if you are not good with your finances since all that you are doing is transferring the debt amount from one loan to the next. Also, thats considering the fact that a bank would actually even lend you a 100k as a personal line/loan in today's market since the U.S. banking system is currently in a huge "credit crunch."

3. File for bankruptcy. This should be considered as the worst case scenario since it will be reported and may stay on your credit report for the next 7-10 years which will make it very difficult for you to apply for any kind of credit within that time.

4. A Debt Settlement/Solutions company's purpose is to negotiate with your creditors in an effort to reduce your debts by about half of what you owe and to get you out of debt in 2-3 years. Typically, your monthly payments would be cut down to about half as well. You are correct. This program will place a negative impact on your score, but you have to understand that there is no quick fix for this type of a situation. A good debt company would usually evaluate your situation, find out your financial hardship, qualify you and fully disclose to you the pros and cons of the program before it will allow you to join. This will educate you on how debt settlement works , so that you may decide on what's best for you.

http://reachoutdebt.com/

2008-03-27 10:26:52 by surgicalvenom

After almost 2 years of paying Consumer Credit Counselors in a debt managment plan, we will no longer be able to meet their required monthly payment amount. I believe my best option is to stop paying credit card debt to them, pay my property taxes (they are behind) and essentials, and let my accounts go to a debt reduction negotiator. Where is the best place for me to look?
I am interested in contacting you Brooke, but I do not have contact information.
boxbeatle@yahoo.com

I think that you have a great idea in thinking that you should pay your property taxes BEFORE you pay your credit card counselors.
I dont know what the difference between a reduction negotiator and the CCC would be but I am thinking that maybe you can just get on the phone with your credit card companies and try to work out settlements yourself. I dont really see what you have to loose if they say no and certainly you realize that there will be fees involved in paying someone else to negotiate on your behalf
that money could be used towards paying your bill.
There are some credit card 'kits' on ebay that might help and he cost is very cheap ($6.00) they might be worth it to check out tooo

2008-01-20 14:55:34 by boxbeatle

remember that currently the deficit si around 9,000,000,000,000 so thats alot of new taxes or reduction in spending seems all i here is the tax issue

One solution would be to actually lower taxes on those who make less and significantly increase taxes on the wealthy. Another thing that could be done is eliminate federal aid of ANY kind for illegal immigrants and do more about welfare fraud (the FLDS comes to mind), They could re-vamp the welfare system and people on welfare (if they can't get a legitimate job) could do daycare for the govt. pick up litter on the streets, do some general janitorial work. Not just sit on their butt and get paid for popping out children.
Sorry if I sound bitter, but I had a good job and became permanently disabled, and I paid into Social Security my whole life and am now living on apx $800 a month. I don't like being unemployed, and it just pisses me off that some B*tch (maybe illegal or not) that has put little or nothing into Social Security is out there driving a new car and getting food stamps and probably more money than I do. Plus free health care (I still pay 20% & when a person has major surgery it costs an awful lot)
BB
)O(

2008-05-17 12:44:43 by mark y