Answers
I have been laid off, and my monthly income has taken a gigantic hit as I am now on unemployment... My job prospects are slim given the current economic climate, and I'm worried I might be unemployed for sometime.
I have an existing agreement with Greenpath debt solutions to help eliminate some existing credit card debt. I've been in the program now for 2 years, and the program would normally last another 3 years, assuming I'm able to continue making the payments.
What happens if I can't continue to make the payments to Greenpath? Bankruptcy will always be an option after my lack of income brings my aggregate income down over the next few months, but what happens in the interim?
Is it possible just to tell the creditors to F-off, or do I NEED to declare bankruptcy?
I guess that any special interest rate and payment reductions through the debt management plan would be voided out and your creditors would start coming after you for the full balance.
Make sure this is really a financial emergency before you file. I personally think that $15K in debt is the minimum that anyone should consider filing for BK...but do what you need to do to support yourself and your family. You can only file for Chapter 7 once every 8 years...not every time you get into financial trouble. You should probably consult with a BK attorney...most have free consultations.
The Consumer Credit Act 1974 legislates that credit agreements must contain certain criteria. We have found over the last 12 months that over 75 ...
4 Tips to Help Keep Credit Card Debt in Control for 2010 From Informa Research ...
In addition to avoiding outrageous finance charges, being a responsible cardholder will also be reflected on your credit. Excellent credit is a must-have, especially with today's credit crunch, when looking to finance (or refinance) a home purchase. Having good credit will qualify you for the best interest rates on both mortgages and credit cards ( http://www.erate.com/credit-card-abuses-federal-reserve.htm ).
1. Be on time, every time.
Make it a habit to pay your bills before the due date. Using options like online bill pay and pay-by-TXT can eliminate the need to submit your payment early via postal mail. Furthermore, new legislation (effective February 2010) states that credit
Never Pay Back Credit Card Debt - Legal Tactics to Legitimately ...
There is a one basic rule that must be followed at all times if you want to get rid of credit card debt without doing anything illegal. Negotiations- this is the magic word. You will have to resort to negotiations again and again. You have no choice but to convince your lender to alter the terms and conditions of the credit card loan. Only then can you bring down your existing debt and eliminate it very quickly.
However, simple plain negotiation without application of your mind will be futile. You should have a specific goal in your mind. You should use legal tactics that will convince your lender that settlement, consolidation or other forms of debt relief is the best way to proceed.
...News
4 Tips to Help Keep Credit Card Debt in Control for 2010 From Informa Research ...PR-USA.net (press release) - Dec 13, 2009
If you have your hands full with your existing credit cards, adding to your credit card collection is not going to help, no matter how tempting the and more »BigNews.biz (press release) - Dec 05, 2009
For credit card holders over $10000 in debt, the recession has given then a wonderful opportunity to eliminate debt. The governing body has supplied and more »
BigNews.biz (press release) - Dec 21, 2009
Once creditors agree to make a deal, you can get out of debt from 12 to 36 months. This is a very good option to eliminate liabilities. and more »
The Colorado Independent - Dec 22, 2009
Many families have made terrible sacrifices — no longer investing in their children's futures, saving for a home, or carrying crushing credit card balances and more »CoinNews.net (press release) - Dec 22, 2009
There is a backlog in the supply since November 2009 presumably because of an internet scam in which people gain credit card benefits by purchasing
Times and Transcript - Dec 04, 2009
The readers' challengeUnder the current model, we're realizing we're going to have to put more debt on the credit card but we're barely making the minimum payment now. and more »FOXBusiness - Dec 07, 2009
If you have already returned your proxy card and wish to change your vote, please complete, sign and date the enclosed proxy card and return it in the and more »