Advice Credit Card Debt

I'm searching for a web site or phone number to get free legal advice for credit card debt. I need a place that will give me an immediate answer. Thanks for your help.

In most areas, attorneys will give you a free consultation. As this is a credit card debt, you may want to look for someone who does collection work for companies, as they are more experienced in debt law. A lot of "general practice" lawyers have not impressed me on their knowledge.

2007-04-21 06:36:17 by Amy

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ok i got like $10,000 credit card debt from like real estate scams and so on. i been paying minimum on credit card debt and my saving account is almost dry. and i'm unemployed now and no money coming in. i can't even go back to school for a degree because i'm so tied up. is bankruptcy a good option for me? when would i be able to get credit card again after bankruptcy? when would i have option to get mortgage for real estate after bankruptcy? how difficult is it to get good credit after bankruptcy?

Go wash pots in a restaurant. Do double turn. I could find you a job doing that in the next 30 minutes.
Grab the phone book and phone everyone. Kitchen Porter is called.
In a year you have paid your debt off.
Or be bankrupt.

2010-01-07 21:53:13 by curiousone

Price: $24.95

My husband and i are looking into getting a house next year when our rental lease ends (Jan 08). We plan on spending this year trying to get out of as much debt as possible. We have about $14K of unsecured debt. My credit score is within the 650 range, his is way over 700.

We are in desperate need of some advice as to what we should do this year. We're both contributing to our company's 401K programs. Obviously, we need to focus on paying off our debt, but at the same time, we also need to save up for the house.

Which do we focus on?

I have about $30K in inheritance money that I can get which we will use as the down payment. And that raises a whole different issue about who will own the house, etc (just in case of divorce).

Any advice as to where we should navigate our finances this year will be very helpful. Thanks in advance!

I would say only pay on the house closing costs. People become wealthy by paying as little as possible on their house. Because of current low interest rates and tax deduction, houses are the best investments on earth as long as you do not put money down or into them outside of closing costs. With your good credit scores you should be able to get a good interest rate on a 30 year fixed interest only loan. Below are some ideas on how to decrease your expenses so you can save more. Then invest extra money in real estate--rentals.

The biggest ways you can do this are in expense categories that are recurring--those you must pay every month that represent a big part of your income. The quickest to address are downsize your car expenses ASAP. You can do this by selling what have at top price as listed on KBB.com private party value. If you take your time selling you should be able to get "Private Party" value for your car. Then plan to buy a lower cost, reliable used car that Consumer Reports rates as most reliable. That way you can minize your repair costs--this is typically a huge ongoing expense for most people. I have four older cars that are of these types that Consumer Reports recommends most reliable: Honda civic and Odyssey, Ford escort and Suburu (mine has 284,000 miles on it). Also, these cars get good gas mileage. Another priority when you buy to help you save $. When you buy use KBB.com and try to find cars selling for well under the Private Party value. I always buy well used cars this way. I wait until I see one advertised well below the private party value, then I call asap, give seller a $50 deposit and write up a contract I will buy it subject to my mechanic finding no major problems. You want to buy an older car for cash (like $1,500) so you don't have to pay any collission or other extra insurance and that reduces your expenses more. I have a Ford Escort wagon (I like wagons and vans because cops pull you over less on these family cars--we have way too many cops, not that I get tickets. But I just like to be left alone, I digress . . .) I bought my Ford Escort wagon for $1,500 five years ago and it has 180,000, miles and looks great, drives like a dream and has had the lowest repair cost of any car I owned. That is my dream car because you can buy them so cheap, about 1,000 for a 1993 easy. Then be sure you shope insurance coverage among various companies--Geico tends to have cheap coverage--to get lowest cost insurance. If you own a home, you can do that same idea by looking for a bargain house. With the depressed market this is a great time to buy a fixer upper well below market to reduce your housing expenses asap. Sell your current home at market rate. If you rent, you need to own because you reduce your expenses by deducting the payment from your taxes. If your credit score is above 500 you should be able to get a loan or find a lender who can help you get your credit score up. By the way, better to buy one of those well used cars with a loan to reduce your car expenses. In general you need to become a serious bargain buyer on quality cars and on houses. You can find bargain houses on the HUD website of foreclousres using a realtor. Just be sure to bid way low on HUD foreclosures--realtors will suggest you bid too high. Be cheap, cheap, cheap and you will reduce your monthly expenses on these things.

One other point, if you find yourself overspending on consumer stuff you buy, you need to get self control. Best way to do this is not a budget but fasting. Start skipping a meal and then work up to where you skip food one day per week. I fast a day a week regularly and am unbelievalbe disciplined. I must be because I provide for a family of 6: with 5 older girls, two in college, etc. Talk about expensive! But I never buy anything in a store on impulse because fasting has trained me to be way disciplined.

Also try monthly reviewing a list of your recurring expenses to see where you can save.

Source(s):
KBB.com used car values
Zillow.com home values. Multiply the value they give you by 1.15 and you will be close o market value. Also look at comparable sales on that web site for a per square foot value to apply to the home you are considering. Watch out with realtors. They tend to push you to pay too much but you must use a realtor to buy a HUD foreclosure. You can shop other bargain houses with motivate

6 days ago - Report Abuse

2007-01-15 10:15:33 by Kirstin B

Price: $14.95

I am in $4000 credit card debt. I am planning a budget, but keep on changing my mind about what to do. Should I pay minimum payment On the cards and save as well so that if I end up out of a job for some reason, I have some rainy day money or should I just put all the money I have after bill etc onto the debt. Thanks

You have two choices.
1. Pay it off in the fastest time thereby reducing your interest charges.
This way you will always be able to get another card if you want.
Credit cards are the biggest rip off as you know.

2. Get a court order order/arrangement that you pay it off at $20 a fortnight; plead hardship; the credit card company will 'write you off' and stop charging you interest. You may have to exaggerate your financial commitments. The chances of your EVER getting another credit card again will be close enough to zero. This is NOT a bad thing; it's where I am at.

You've heard of the triple A credit rating? Mine's a triple Z.
~

2008-11-25 19:09:07 by Yvette

A friend of mine and her husband are looking into getting a house next year when their rental lease ends (Jan 08). They plan on spending this year trying to get out of as much debt as possible. They have about $14K of unsecured debt. Her credit score is within the 650 range, his is way over 700.

They are in desperate need of some advice as to what they should do this year. They're both contributing to their company's 401K programs. Obviously, They need to focus on paying off their debt, but at the same time, they also need to save up for the house.

Her question now is which should they focus on?

She have about $30K in inheritance money that she can get which they will use as the down payment. And that raises a whole different issue about who will own the house, etc (just in case of divorce).

Any advice as to where they should navigate our finances this year will be very helpful. Thanks in advance!

Well its awesome they they are paying down debt and savign for a house in advance.
I recommend "The Total Money Makeover" by Dave Ramsey.
(www.daveramsey.com) as a great guide that will pretty well answer all the questions.
Paying off the debt is job one. I would use the 30K for that. Stop the 401K until they have the debt paid off and have a good sized emergency fund (3-6months) and then save for the house. Not buy anyhting that they can't afford to finance for 15years fixed.
And the 30K is "our" money, it will be "our" house. You shouldn;t plan for divorce when your married. Otherwise you shouldn;t buy a house together if your plannign for the divorce. :)

Pay off debt first. If they had the debt paid off they wouldn;t take out 14K in unsecured loans to put a down payment on a house...its virtually the same thing.

2007-01-15 14:50:27 by aleish