Card Consolidation Credit Debt Guide

I just signed up with a law firm to consolidate and reduce my debt (it's called The Palmer Firm). A friend of a friend said this place saved his hide. Everything seems to make sense and to be on the up and up, but I am mildly freaking out because going through the paperwork they sent me after signing up there is a "legal guide" advising me on steps to take should I be sued by one of the creditors.

I was not told that my being sued by any of the credit card companies was a possibility. Can anyone tell me how LIKELY it is that this would happen? Initially I felt that a huge weight had been lifted by signing up with this place, but now it has just been replaced by a greater fear of being sued. Plus the legal guide indicates that if I am sued by one of these companies I am on my own, it does not state that the law firm will be of any assistance whatsoever.

I do plan on calling them for clarification but until then, can anyone who has been through this help me?

If you really need some help, I will suggest you a site. Where you can get your Consultation free of Charge! No credit check required to get started with your free debt consultation.

http://www.wahor.net/debt

:)

2008-07-08 21:48:41 by Weedwacker

Eliminate credit card debt by accruing more savings than debt. Learn to eliminate credit card debt from a registered financial consultant (RFC) in ...

I have approximately $15K in various credit card and hospital bill debt. I am looking for a good company that does debt consolidations/loans.

There are lots and lots of companies available but i've heard there are both good and bad ones out there. Personal experiences are highly important so if you have any - please share them.
Also, is there any rating/review service or consumer guide that has written about this field? Web Links?

I have experience of credit card debt..At that time I took the the help of the debt consolidation service help..But then After I realized that it would be better if took debt settlement service instead of deb consolidation. So just visit the debtconsolidation123.net. It's really great.

2009-04-20 13:45:05 by J T

I've gotten myself into a bit of a bind and don't know what to do. I'm working two jobs, but the balances for my credit cards just don't seem to be going down. I feel like at this rate I will be working the rest of my life without solving my debt problem. So, I've been considering debt consolidation. However, I don't know a thing about it. Someone said I should go to a non profit one. I don't know how it works. Can anyone guide me through the process? Any experiences or recommendations you can give me would be so appreciate.

Desperately seeking help!

Please do not do "debt consolidation". It is not free and it will take you longer to become debt free. You can do it faster and cheaper on your own. Here is a plan that can help you. If you work the plan, the plan will work for you.

A. Have a garage sale and sell whatever you don't use or need and use that money to pay down your debt.

B. Consider getting another temporary part time job and use all of that salary to pay off your debt quicker. It is better to have a no fun year
than a no fun decade.

1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an "emergency fund" category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don't even have to worry about it. You must cut your spending and live on less than you make.

2.First get current on all of you debts, if you are not already, and make no more late payments, if you have had any. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.

3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:

To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment

Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment

Debt #1: paid off
Debt #2: paid off
Debt #3: minimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.

4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.

5a. When you have your emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.

5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.

5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.

2008-11-14 13:20:17 by Rusty's Mom

Price: $14.95

hello, i plead someone if they can help me get out of this hell of loans and credit cards in which i am trapped very badly in dubai. i borrowed money with banks as loans and credit cards to invist in share market business back home in india. Now i am left penny-less..... absolutely nothing i have with me..... my total outstanding in dubai is 350,000dhs. i am paying few banks with my salary each month but situation is becoming worst and worst each passing day.... i pay some banks one month and other remain unpaid for that month...; following month i have to add more interest and pay to other banks while the other banks remain unpaid... this is contnuing for many months now... long ago friends advised me to run away from emirates but i havent done because i dont want to leave any unpaid loans on my name in dubai..... now one mnc bank has imposed travel ban on me and also filed a police case.... intresting i am paying this bank monthly though i am paying it late.... i am in most cretical situation, now if i want to even change my job in emirates i cant do it because this bank filed an complaint against me which will stop my visa transfer...... my situation is very very very similar to that of someone trapped in hell of fire...... i posted few request on yahoo answers asking someone to please help me...... can please someone suggest me to any local people who can possibly help me to get out of this worst situation in my life..... someone advised me to go to 'dewan' in dubai and put a request letter for some help, but when i e-mailed this person to guide me what exactly to do, i haven't got any reply from him.... can someone suggest me something by which i can get out of this hell..... after all calculations i made, even if i pay how i am paying now (ie., some banks in one month and some banks in another) even if i spent all my life i will not finish by loans. ...... i went to some banks for loan consolidation but they refused to offer me anything..... my company is also in losses and they cant help me tooo..... i have some offer in new company in abudhabi but life is hitting me from all corners,.... worst is i also cant change my visa because of this police case..... i dont know how many people read yahoo answers and i dont know how many reply to my request..... begging on roads is another option for me but if some known person see me, i have to go and commit suicide. please can someone suggest me to some person who can help me or who is capable to help me in this situation. some local people or something like dubai dewan who i heard helped many people in past.... please guide me. i request you all. please guide me. thanks. my mail id is m_rizwan_dxb@yahoo.com

Run .

2010-01-13 06:19:25 by Rizwan