A few month’s ago, I started working with National Debt Relief to settle 2 credit cards….1 with Discover and one with Citibank.

I have had no issues until the other day, when someone from Citi called me to say they don’t work with debt settlement companies.

So, I have my debt settlement company telling me "don’t listen to the creditors, they are just trying to scare you", and then I have Citi telling me "don’t listen to the debt settlement company because they take your money and never pay us…a law was passed last year that we no longer work with debt settlement"

When I first enrolled into the settlement program, they said they did work with both banks, I had to provide my statements and they seem completely legit. I have a certain amount of money automatically being deposted into a trust account with the settlement company uses to pay off attorney fees and my creditors over a specific period of time.

How do I determine who is telling me the truth, and if my debt settlement isn’t working, what do I do with Citi? They did send me a letter asking me to settle…so what’s the difference if I settle through debt relief vs. settling directly through me?
If it helps, Discover has contacted me and is aware that I’m working with debt settlement and seemed more than okay with that. and they both sent me letters to settle for less than what i owe. it isn’t very much debt at all….just what I couldn’t pay off from my old lifestyle, after I had to move across the country and take a job making much less than i had before.

Technorati Tags: amount of money, attorney fees, banks, citibank, credit cards, creditors, debt relief, debt settlement companies, job, lifestyle, national debt, period of time, settlement company, settlement program, telling me the truth, trust account

Here’s my situation. I was on the top of the world before I even turned 21. I worked so hard to accomplish my financial goals of basically owning my own house and own vehicle before my 21st birthday. Some where down the road I got lost… The great job I had to get the house, I had to eventually step back from to take a slightly lower paying job that offered insurance. To make a very long, struggle-filled story short. I lost everything. And when I say everything, I mean everything. My then fiance` and I split, needing to find our selves again. My new job wasn’t what I thought it was going to be. I inevitabley lost my house, my car, and had to stop making payments on all my credits cards because I quit my job to move across country (with my now husband) who is an Active Duty Marine (now deployed ). I know this is all over the charts, but since my husband is now gone, this is giving me a lot of time to fix/figure out our financial situation. Since my credit score is basically at the lowest point possible now, which bankruptcy should I file for? How does Chapter 7, 11, 13 etc work? My husband does make a decent amount of money, specially being deployed now. But really only enough to pay the bills and pay down his credit. Any and all information on this would be great.
Thank you so much!

God Bless our troops! God Speed be with you. Hurry home!!
Thanks KMcG. Yes – I am aware of th 7-10 year rule with bankruptcy. We’re even considering staying in the military (boo) to bandage all our debt.

Technorati Tags: 21st birthday, active duty, amount of money, bandage, bankruptcy, chapter 7, credit score, credits cards, duty marine, fiance, financial goals, financial situation, god bless our troops, god speed, insurance, new job, struggle, top of the world

Well I honestly think that now Obama shouldn`t be president because now he has to cut everyone`s checks unless the people in office agree on the same things. So the United States is basically on the verge of debt? Like I don`t think it`s fair to cut people`s checks because they actually need that money in order for them and their children to survive and if that only check they get like twice a month gets cut, how are they going to live? Like my mom gets a check for me, and my dad gets one for me and for being a veteran, but they`re not together, so how are me and my mom going to survive? Why can`t they just agree and give back our checks, and give back the amount of money we originally had? What does the government do with all the money they are printing? All that money, going to wast? C’mon. Really. If we go bankrupt, America is going to be like the 3 world countries that are still developing and need help from others, and then pretty soon we are going to be forced to move to a different country, and be effing poor there too!! What are they doing in the government?
Well give me how you feel on this, I would really like to hear your opinions.
plus,, im only 14. so as this may seem as a wrong way to state my opinions and this question
please dont be rude. i just want to see how others feel

Technorati Tags: amount of money, bankrupt america, checks, dad, mom, united states, verge, veteran, wast, world countries, wrong way

Is the amount of money that the trustee gives you a fair amount to actually live off of? For any of you that are going through a chapter 13 or have been through a chapter 13 bankruptcy and help and advice is greatly appreciated!

Technorati Tags: amount of money, chapter 13 bankruptcy, trustee

In June I enrolled in a debt settlement/consolidation plan with a company. They said they would settle my debts and as long as I was putting the money aside I was supposed to then everything would be fine. They would be contacting my creditors and I should no longer talk to them. Well that is all well and good until I am contacted by an arbitrator and a law office. My accounts were fast tracked to arbitration when they found out the program was in. Each has offered me a settlement but I can’t afford it without a loan. I have perfect credit except for these two past due credit card balances and that is preventing me from getting a loan. The law office said I could make payments, but they would be nearly 00 for six months. There is absolutely no way I can afford that. What can I do? I’m really scared because I thought I was doing a a good thing and ended up in a terrible situation.
I have contacted the debt settlement company and they keep saying I’m not even supposed to talk to the attorney. I am so scared of them taking me to court though. I am putting the correct amount of money aside each month. The attorney’s office told me to go to ripoffreport.com and look up debt settlement companies and I found a lot of other people in this situation.

Technorati Tags: amount of money, arbitration, arbitrator, consolidation plan, credit card balances, creditors, debt settlement companies, debts, getting a loan, settlement company, six months

Why would you reduce the amount of money going into S.S. Fund when you say it is running out of money?

Technorati Tags: amount of money

I am about to go bankrupt and just wanted to know what the terms of bankruptcy are and how much influence my creditors can have over those terms?

What the best way to go about getting the most favorable terms–that is, having to pay the least amount of money to creditors post bankruptcy? (I’m broke at the moment)

Thanks in advance

Technorati Tags: amount of money, bankruptcy, creditors, favorable terms, thanks in advance

I received a court summons a couple days ago for a 5 year old 00 debt that’s been sent to a debt collection agency. So far I’ve talked to the rep 4 times and I’ve offered to settle it in one lump sum of 0. He said he would call me back the same day and did not…so I called him today and he said that he hasn’t herd from "them" regarding my offer and will let me know as it takes a "few days". I feel as if he’s trying to kill some time as my court date is May 10th and feels the pressure will force me to offer more?

What do I need to know regarding this as I’m completely clueless on the process and the length it takes to settle and what happens if an amount is agreed upon.

What do I need to do to put his behind me and settle this for the least amount of money possible? I’m a college student and obviously broke.

Is the process typically back forth phone tag and how long does it take to settle?

I’m in college and totally broke….if I threatened bankruptcy would this help?

Technorati Tags: amount of money, bankruptcy, couple days, court summons, debt collection agency, few days, herd, lump sum, phone tag, quot

I recently received a good amount of money from a work related injury and now have the opportunity to pay off the ,000 of credit card debt I now have in collections. Should I just pay the complete amount I owe or should I settle with the credit card company to pay only 25% of what I owe. This debt has been in collections for two years. What option would be better in the long run? I figure I’m already so late on payments how much worst can my credit get if I settle.

Technorati Tags: amount of money, collections, credit card company, credit card debt, work related injury

I’m a 24 year old california resident.

My father started a credit profile on my social security when i was 13 on a fake name. I caught him when checking my credit report. He paid all the debt off, but what I had left was an extremely good credit score when i was 18. i applied and applied for credit cards when i became 18 to collect airline miles. i collected nearly 800,000 airline miles through that and I did some amazing travelling.

i had a good income coming in, but then my business crashed but slightly recovered, however, my girlfriend is a shopaholic, and I kept buying her stuff. i bought five new cars in my life. i’m 24. i just graduated college. i have 8,000 in debt. I have an income of about 00 per month after taxes which is really good, but most of my money is going to debts, and I have to live at home with parents and have an ok living. I look at my minimum payment warnings, and they say it will take 32 years to pay off.

I have three options. Option 1 is to not pay. Being self employed, I have the ability to dodge collectors and court actions especially since I can go to another country. I meet the requirements to get permanent residency at Spain, UK, or Canada. I can make the same amount of money anywhere. I can probably even stay here in California, and get away since I have foreign bank accounts.

My other option is to settle my debts, but I don’t know what amount card companies will settle for.

My other option is to keep paying the debts on time, but it will take 32 years to pay off.

I can also do bankruptcy, but given statue of limitations, and the ability to not pay bills, I rather just hide than to declare bankruptcy publically.

I’m also worried that my parents will find out about this. How do I explain 168,000 dollar debt? – What if they ask me to do something that requires me to run my credit. All I can do is put a freeze on my credit report so nobody can check. I also can rent an apt right now with the good credit I have and stay in it until my credit recovers. I see no reason for moving in the future. I’m young, and I’m sure I can stay in an apt until my credit recovers which can take up to seven years.Sometimes, I’m worried about my parents finding out, and I want to commit suicide.
i have no morals. atheist. i believe in helping others so i can benefit back myself in some way. i don’t do it for the goodness of my heart cuz i don’t believe in it.

Technorati Tags: airline miles, amount of money, bankruptcy, california resident, court actions, credit cards, credit profile, credit report, credit score, debts, dollar debt, girlfriend, minimum payment, new cars, old california, option 1, permanent residency, shopaholic, social security, statue of limitations

I just received a letter of foreclosure on my house. I’m not going to be able to come up with the amount of money needed in the time allotted to stop it. So I’m considering filing for bankruptcy. If I do this, will they take my house anyway? I understand there are several different types of bankruptcy. I’m not trying to get out of my debt completely *unless that’s an option* so I don’t know if this effects whether we could keep our house or not. I need to know because if they are going to take it anyway, then I’d need to decide whether it’s better to have a foreclosure or bankruptcy on my credit.
I live in Texas. We have only owned this house since last September.

Technorati Tags: amount of money, filing for bankruptcy, foreclosure, last september, several different types, types of bankruptcy

I have somewhere in the neighborhood of 20 thousand dollars of dischargeable debt. I am college educated and usually able to logic my way out of a box. There are lots of online bankruptcy programs that would save me a considerable amount of money. But am I setting myself up for failure if I use an online program instead of an attorney?

Technorati Tags: amount of money, bankruptcy, failure, logic, neighborhood, thousand dollars

I am writing a play and in order for the plot to work better, I need to make a female character go bankrupt, or at least suddenly loose a significant amount of money. She could be any sort of celebrity (depending on how she goes bankrupt), but I’d prefer if she was a singer or an actress. The way in which she goes bankrupt or looses money should be very sudden and humiliating, but somewhat humorous for her friends to tell about.

So tell me your creative suggestions for ways she could go bankrupt or loose lots of money!

Thanks!

Technorati Tags: actress, amount of money, celebrity, creative suggestions, female character, lots of money, writing a play

Myself and my husband are both self employed, we have two children -In 2007 we were doing well and decided to purchase a larger home, so we placed our home which we had lived in for 7 years (have a mortgage at a credit union) on the market. A sale was pending so we purchased a larger home contract for deed, as we could not get a mortgage for it until the other sale was final – but there was an adendum to where the then buyers needed to be in by a specific date so we had to be out by the date the sale was scheduled for. The sale fell through due to the "buyers" on the day before the closing was scheduled – so we were left paying for 2 homes… we had to carry both homes then from 9/07 – 01/08 paying excessive interest for the home we moved into as we were unable to get a mortgage on it until we sold the other one… – this drastically cut our savings down to nothing – 1/2008 we had to sell the house contract for deed (the original house we had lived in for 7 years) – or lose it to the bank as we could no longer continue to pay for both – we closed on the sale 1/11/2008 – they buyers have a 3 year balloon to come up with their own mortgage – after the sale is complete – we will have taken a total loss of ,000.00 on that house. So the amount of money which the "cfd buyers" pay to an escrow agent – who then cuts us a check – which we then take the the bank to pay the mortgage on – and then place the remainder into a escrow account for the property taxes and home owners insurance on that home – leaves us with approximately .00 income each month (which we get to pocket – whoopie) but it allows us not to be foreclosed upon – now when the sale is final and they get a mortgage – we will only get ,000.00 (the difference from what they owe to us and what we owe to the bank on that house) 2 years from now.

Now – here is my question – 2008 has been a HORRIBLE year for my family – the economy has made my husbands self employment income to drop nearly 75% – and while mine increased from the previous years, it by no means has increased enough to make up that difference – additionally there were multiple situations that came up during 2008 that drained us – (i.e. child illness, one child with dissabilities, furnace went out, gas leak for 3 days, powerbills skyrocketed, you name it, it probably happened to us this year) now – we are now facing bankruptcy as all of our savings is gone – and everything is backing up it is everything we can do now just to make the house pmt, car pmt and insurance and survive. My husband is a contractor – so winters are usually slow anyway – but due to the economy people just can not afford extras – we’ve always built up savingns during the spring and summer months and set aside for the winter – that was not possible this year. Now we qualify for the EIC which we desperately need. but due to the sale of the house CFD – they (the CFD Buyers) paid just over ,000.00 in interest which then came to us – but we paid just under ,000.00 in interest to the credit union which holds the mortgage. – but in having to claim the ,000.00 interest income – (no matter whether we itemize or take the standard deduction our tax is 0 because we add our self emp tax at the end) the only chance we had of a credit was the EIC and additional child tax credit – and Not being allowed to claim the EIC because of the ,000.00 of interest income (which did NOT benefit us as income, as opposed to the .00 that we did get to keep during the course of the year) eliminates our ability to take the EIC because it’s over the ,000 and some odd dollar Interest income allowement)

Is this right? If so this leaves us owing the IRS more money (which we absolutely do not have) than we will make on the sale of the house in total when it’s complete (not considering the entire thing is at a overall loss anyway) I do not have to file form 6620 or schedule D because it was a loss, but the interest apparently I do have to claim – as income – when it wasn’t…

Is there any LEGAL way to only have to claim the interest income of .00 which we did get to keep – as opposed to the entire amount?

If not – we’re going to end up on the street living in a box eating trash. I’m saddened to think that we’ve worked for so many years for nothing – my husband is 37 years old and I am 30 – both of us have always worked more than full time – and now my husband has not worked more than 40 hours since October – and things were slower in August and September than usual – who knew this was going to happen -(No one can plan for everything to go wrong in 1 year as it did for us) Now what….?

Please help if you know what you are talking about… If you do not know about taxes, EIC, Contract for deed/Installment sale, or are just plain rude because your situation is not nor has ever been grim due to no fault of your own, please keep your comments to yourself. (I only say this because I have read several other answ
**I disagree that I got that 00.00 to spend even if it (doesn’t feel like it) because I did not get to keep and "spend" more than .00 of that money. Out of that 00.00 per our contract we are required to give to the bank that holds the mortgage so that the house is not foreclosed upon since these people are paying the payments – the contract also states that out of that 00.00 we have to set aside so much each month into escrow to pay the property taxes and their home owners insurance (which is in their name). Therefore that was not OUR money to spend…. We simply "worked for them" by obtaining the mortgage, paying the payment for them to remain in the home, pay the property taxes so that there is not a lien placed on the house, and pay their home owners insurance which they were required to obtain -All we should have to list as Income is the .00 that was actually income to us, and not take the credit from the 1098 from the bank holding that mortgage…

Technorati Tags: adendum, amount of money, balloon, cfd, economy, escrow account, escrow agent, excessive interest, home contract, home owners insurance, insurance, own mortgage, property taxes, remainder, self employment income

I have a large amount of money that I owe from investments gone bad. I am looking to file for chapter 7 but I am not sure what the limit is for the amount of money an individual can claim.

Technorati Tags: amount of money, chapter 7, investments

My question is that I am in a dispute with workman comp audit they did with my payroll and state that I owe more than I believe I should. I have been doing the same reporting method for six years then suddenly for two of those years, they say I owe a tremendous amount of money. I am disputing it, but not sure how my dispute will end up. Wondering if it is possible to settle the claim for a less amount due to my current financial position? Any help greatly appreciated. Thank you.

Technorati Tags: amount of money, financial position, payroll, six years, workman comp

I have a small amount of money coming in and since I have been late paying my cc bills, I was wondering if anyone had any advice on trying to negotiate a settlement amount with my credit cards directly?

Technorati Tags: amount of money, credit cards