I have no credit card debt. I am starting to realize that I am in the minority. (I do have student loan debt). As far as credit card debt, I appear to be in the minority. In your opinion, How many Americans have credit card debt?

Too many people have credit debt. Trust me, you are in a good place. Don’t fall into the trap with us. It’s not fun unless you only have one and it’s for $500. Credit card debt can eat your paycheck for years and years to come if you are not careful.

They have a strong nuclear deterrent – so nobody will try to invade the US. So why not disband all overseas military bases, and cut back to a minimal standing army – and have a foreign policy that doesn’t try to interfere with everyone else’s business.
Dear Rohit — you say the US "can’t" cut back it’s military budget? It’s pretty clear that they will be forced to sometime in the near future, maybe running 2 – 3 carrier groups rather than 10 – 11.

security and military are the base of nations.America had moved its half army from iraq and moved several equipment to back home.but America is one of the biggest military power ,it has provide its army to Afghanistan for peace and fighting terror .so it can’t cut its military budget

Ok I am 8k in debt and CCC said they will do all the legwork and just charge me $10 a month to pay the debts. How do creditors look at this and is it a good idea?

good question and unfortunately u r not going to like the answer,

DON’T DO IT UNLESS YOU ARE ON THE VERGE OF BANKRUPTCY

Most lenders look at ccc as a bk, and you cannot buy or refi a house from most lenders as long as you are in ccc. on a refi you must buy out. as a purchase you must close out the ccc and take over the debts at normal payment rates, the lenders look at this like mom and dad handling your finances and you must be in ccc for 24 months to show payments made on time BEFORE THEY WILL OFFER YOU MORTGAGE FINANCING.

Additionally I have seen more than one ccc mess up the credit worse than it was before. ie. lets say sears wants 60 a month in payments and ccc sends 40 sears will continue to report you as late each month and over 30 for each previous month. So two things if you do ccc get it in writing what ccc is paying and from the lender get it in writing that they are accepting the amount in figures that ccc is sending each month.
BE CAREFUL AND CHECK YOU CREDIT REPORT EVERY 90 DAYS TO BE SURE IT IS GOING ACCORDING TO THE PLAN LAID OUT.

If you blow ccc off after signing up with them and don’t make the payments kiss your credit boodby and bankruptcy is the next step.

I went bankrupt 8 years ago now, and unsure if been dischared. I now have further debt, and I am wanting to enter a debt management plan. Would this be something I would be able to do, despite me going banrupt 8 years ago

Assuming you are in theUK, you will have been discharged 2 or 3 yrs after been declared bancrupt depending on how much you owed. I was declared bancrupt in 2000 and had to wait 3 yrs as i owed more than £20,000.
You should still be able to enter debt management but I would speak to the Citizens Advice Bureau first as they may have better alternatives for you.
For some people Bancruptcy a 2nd time around is an option. For others IVA or just contacting your creditors and making reasonable agreements with them.
In April there is hopefully a new alternative been introduced to Bankruptcy. It is called a Debt Relief Order.

http://www.my-iva-adviser.co.uk/iva-what-is-a-debt-relief-order

Take a look at the link above that will help. This is apparently, like bancruptcy but a little less formal.

Good Luck

I am currently enrolled in a debt management plan and they are not supposed to contact me anymore! This debt is for a bank account that went negative (about $300, I had lost my job at that point). They call my cell phone daily at least 5 times then when I don’t answer they call the house phone too! (my debt counselor told me I do not need to be in contact with the collectors anymore, which is why I don’t answer). They seem to be using a computer to generate random numbers because they call from at least 10 different ones including 3 local area codes. If what they are doing is illegal can I threaten to sue them so they back off?

Are you sure this debt is included in your debt management plan? The creditor does not have to accept any debt management plan. If the collector is still calling, chances are, they are not getting paid thru your plan.

The fact that yhour debt management plan counselor told you not to be in contact, makes me wonder if you have a debt settlement program. That’s usually what they tell clients.

Not only can you not sue the collector, it is very likely the collector can sue you. The debt management company won’t be in court to help with the lawsuit. You should answer the call and find out if they are receiving payments or not.

Trying to get rid of credit card debt that is out of control. Don’t want ones that will sell my personal info but are truly honest and follow all the laws etc.

Stay away from any "debt consolidation" company that promises to cut your debt in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

Many people who sign up with “debt consolidation” firms incorrectly assume that they have the power to force your creditors to accept settlements…they don’t. Your creditors have the right to refuse settlements and take you to court.
————————
The only real non-profit firms are credit counseling services….they negotiate lower interest rates and payments but they do NOT negotiate settlements/reductions in debt.

no but all of these companies do not do anything you can not do your self — if you are trying to reduce debt just downsize and pay bills on time in full and you will start seeing the light at the end of the tunnel!!!!

My business is still in the growth stage but we have racked up debt close to $50000 that is sitting on my personal credit cards. Should I transfer that debt to a large credit line under my company name? Will that alleviate the stress on my personal credit debt? or will that not matter because it is still my corporation? Any assistance with this matter is appreciated. I only hope to clear these debts sooner than later..Thanks

Unless you company is publicly traded, you will not be able to move the debt. Your company debt is your debt.

I see this often when I arrange loans.

The real question is "How do I borrow more. while I am in debt?’

The short answer is simply this: Your business needs to start making money and paying down debt. Failing that, you are in trouble.

I wish you luck. I’ve been there. Not a good place to be.

Where do I look on the internet to find the best debt consolidation loans? What are the best sites to look?

First, learn to tell the spammers apart, then choose the best out of the good sites.
The crooks sites do not have a working VERISIGN logo and are NOT BBB approved.
If you don’t know what I am talking about then go to http://www.bbb.org/ and http://www.verisign.com/c/index.html and read.

Last but not least, this is a *good* site http://www.debtreliefprogram.esuperfind.com?id=hra0tt16koo9 it is
affiliated with Experian themselves.

I’ll probably get reported by the spammers for this but hey I don’t care and I hope you get to read it.

THE INTERVIEW – Brian Lenihan, Irish Finance Minister
EXCLUSIVE – Hervé Amoric meets Irish Finance Minister Brian Lenihan. Mr Lenihan discusses the debt crisis in Ireland, its four-year recovery plan, and why he doesn’t think the country’s economic woes will cause any serious damage to the eurozone as a whole.

Duration : 0:11:8

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