Where would you go if you needed debt help?

Depends on the level of the debt and how serious the problem is. The lucky thing is there is a lot of free advice out there.

The important thing is to look at several firms.
The rainbow group are a loan company and they will just pass your details to an insolvency practitioner.Citizens Advice can help you get a debt management plan but you dont say who your debt is with. If it is credit cards or personal loans taken out before 1 April 2007 you could get it legally cancelled. The website www.bdebtfree.info will help you get it sorted.There are many resources out there that can offer debt help. The first step in order to look for different firms or programs is to identify your situation. How much debt are you planning to include? Is the debt unsecured or backed up by any asset? Are you currently making payments? Also it is very important to ask yourself what your goal is in regards to the debt, do you want to reduce the monthly payment? or Do you want to eliminate the entire debt?

After finding the goal to be achieved you may run into many alternatives out there, Debt Settlement Programs, debt consolidation programs, consumer credit counseling and few others.

You can narrow your search by looking at different consumer reviews and agencies that can provide you great feedback in regards to the debt relief companies you have chosen. Some of the sources that can give you great information can be the BBB or TASC as well as online consumer reviews.

Once you have done some research you can call the company to make sure that the program offered will fit your situation and to obtain the specifics of the program.

I recommend you to contact CuraDebt as it is a company highly recommended by the agencies mentioned above and by consumers that have use them all over the Internet, they can review your situation for free prior to committing and guide you according to your situation.

http://www.curadebt.com/forum/blogs/david/125-where-would-you-go-if-you-needed-debt-help.html

 

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I need some help I am 40k in debt?

You need expert debt advice as a matter of urgency. The sooner you contact the appropriate agency, the sooner you will be able to manage and cope with your finances.

Citizens Advice are leading experts in money advice. To find your local office click on this link: http://www.citizensadvice.org.uk

Good luck.I'm in exactly same boat so here's what I did:
1) move bank account to one where have no debt for bills & wages
2) contact CCCs for debt management plan, they're fabulous & very non-judgemental & will go through income/exp & set up plan for what can afford & contact creditors – mine have even stopped charges & interest whilst I repay.
3) leave house & mortgage as it is

Good luck, there's always some way out.Sounds to me like a financial advisor is needed in the short term. If you are interested in a way to supplement your income in the long term check out affiliate marketing on my website http://www.create-money-online.com.
I would seriously suggest you talk to your mortgage company. They aren't tyrants and would like you to be able to pay in the long term.That's a significant debt, but all is not lost. The fact that you have that income is very positive, and means that you can actually tackle this debt and win, but it will take some time.

You are looking for help, which is great. Just be careful to avoid any advice that involves debt consolidation or taking out a loan secured on your house. Also avoid like the plague any get rich quick schemes. You need unbiased help, not someone trying to sell you something.

Your approach will need to be to create a Financial Statement to see exactly where you are, and begin to prioritise your creditors then negotiate with them. With a bit of help you can handle this yourself, without making your debts worse by paying someone else to deal with it.

You can find detailed guidance on this on the website below, but you should also seek advice from your local Citizens Advice Bureau.You asked the same question 4 times, so I put my answer here because it had the most replies and I hoped you would read it. Simply, pay your priority bills like mortgage and council tax, dont get another loan cos they wont give you one in your situation. Very importantly, check if your credit cards or personal loans were taken out before 1 April 2007. Then visit www.bdebtfree.info and they will help you get them legally cancelled. Good luck.

 

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How long does a company that bought bad debt have to pursue me?

They are trying to collect unpaid debt, I would hardly say that is harassing. If they follow you around, hang out outside your door all day, threaten your children…that is harassing.

If you gave me $5,000, I vanished for 7 years and then you tracked me down do you think you would still feel like I owed you the money?Yes they can contact you asking for money but they can't legally take an action against you to get it. If you don't pay, they lose out. But they will keep harrassing you until you do pay. Keep all letters and make note of every phone call you receive from them, if it persists. Write them a letter stating you will be seeking legal action against them for harassment, send them a copy of all the letters you've received and a copy of all the phone calls. They will realise they were breaking the law, the debt has ast the 6 year limit and should back off. If they don't report them, make a complaint against them and they will certainly back off then!

 

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As an executor I am paying a mortgage on a property. Is my money secure?

As executor you need to follow the rules of the probate court in your jurisdiction. You are in a fiduciary role and are obliged to preserve assets, pay lawful bills and keep proper accounting of all the money that comes in and goes out of the estate. You would have an obligation to pay off the decedent's debts which include the mortgage. If you can not pay off the mortgage, you may be required to sell the asset (property) to pay it off. If there are people living in the house (even if they are legatees under the Will), they will need to pay reasonable, fair market rent to the estate. Those funds are needed to pay the mortgage, taxes and insurance. You also need to keep all money of the estate in an account separate from your own funds for the benefit of the estate. You do not need to place a charge or lien on the property. The estate owns the property. It would be a good idea for you to talk these things over with a lawyer or one of the clerks at the probate court.

 

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How much harder is it to get mortgage and buy a house after having a baby?

I don't think having children or not having children really impacts your credit score or your ability to get a mortgage. It is just part of many questions that you will be asked.

We got our home before we had a child, but I don't think it really matters. What matters most is – your income in relations to the price of home you want to buy, your credit score, the amount of down payment in relationship to the price of the home, and your available cash.

If all these things are fine, then having children or not doesn't really come to be an issue.

 

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Are debt management companies helpful?

Hello, well it seems you are a little too far down the road to back out anyway.
But in general, there are good and bad points about using debt management companies.

First they are not doing anything you couldn't do yourself – the main different is that they are completely unemotional (not their debt) and have experience, so may be able to negotiate with your creditors more easily.
Second, if you have a lot of little debts, they will manage them all together and you only get one payment (obviously lower) – much easier for you.

Now for the bad point – they extend your payments to lower the monthly amount: that means you'll get out of the debt much more slowly. If you sorted all your finances yourself you probably would end up with a halfway solution which would suit you better.
They charge a fee out of your monthly payments, so that's added debt at the end, not good when you already owe a lot of money.

Basically you are right in thinking that the reduction of outgoing is too good to be true – it comes at a price.
However if you are not able to negotiate yourself with your creditors (or there are too many of them), and if the stress of the monthly payments is ruining your life, then going with them is better than doing nothing.

It's good to see you are facing your debt and trying to get it sorted, but now you need to make sure you don't get any more debt while this plan – it's tempting, but likely to end in bankrupcy if you do, so take very good care.
Good luckIt sounds like you're all sorted out with this Fresh Start. There are downsides, such as the amount of time it will take to pay your debt off, the fact that you will have affected your credit rating by taking out debt management and that Fresh Start (I expect) are taking a monthly fee which is money that would be better paid to your creditors instead?

There is an organisation called Pay Plan which works with the CAB and provides fee-free debt management which would probably have been better.

However, so long as you're happy with the plan and your decision and stick to the £120 payments then they'll be no problem!Debt management is fine and it looks like it is working for you. It isn't true that your creditors can't take you to court though. It isn't likely. You may also continue to get calls and letters. The debt also may not go down becuase interest and charges may continue to accrue.

Think of the fees as interest. If your plan costs 15% per month then basically you are paying 15% that isn't coming off your debt. Make sure you are hetting your moneys worth. Its true there are free debt plans but I find them almost useless. You should get what you pay for.Debt management is only short term, not a solution, and you could have got it for free at Consumer Credit Counselling Support, part of the Citizens Advice Bureau. If your debts are on credit cards or personal loans taken out before 1 April 2007 it is possible to get them legally cancelled altogether, solving your problem. Visit www.bdebtfree.info and they will help you.A debt management plan is a gentleman's agreement, it can also be called an informal arrangement…it's not legally binding, so the creditors are able to take court action while you are in a plan. but the plan will help you to manage your debt, and the support of an experienced PFM is not to be overlooked at all. However, you do not have to pay for this service as there are free companies that will do it for you, eg CAB, Payplan & CCCS, all well respected and recognised by the creditors. So no interest being charged is being wasted in the fee's that you are paying to the agency for doing it for you.

 

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Do you need a buy to let mortgage to let your house?

No not really. Get a mortgage and then tell the BS you are renting the property – so long as it is regularly rented out and the mortgage paid, they will almost certainly agree.

Have some fabby cheap property which would rent well now – wanna buy one!NOPE, no connection.
You are home owner and have mortgage. As long as you lived there like you told your lender you would, no problem if you later move out and rent it out.
Buy to Let mortgage is for some one who is renting with option of buying the home, having some rent go towards purchase.You normally have to live in the home for one year then you can rent it out. However, there are some State & Local Bond Programs that never let you use the home as investment property. They have a way of finding out, too.You would have to let the lender know the change in circumstances, and your insurers, as renting a property is not simply a matter of choice. The mortgage lender etc have a vested interest in the property.

 

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How do you think you will do in this "credit crisis" going on now and getting worse by the day?

Yes, I will be ok – this has been going on with me already for a year, I've buckled down on everything in my household, paid off outstanding debt, aside from my loan it will be the only unpaid debt I have.

I've lived through worse -I'll make it just fine. I'm not in any debt. I have savings. I think the whole thing has been vastly exaggerated. The only people I know who are struggling are people whose hours have been cut, and even they are just fine. Just might not go away this summer.
I live in the North West of EnglandI will make it because I am a survivor. I have trimmed my budget back, I turn off unused lights, conserve water usage, and I am in the process of planting a vegetable garden. I am going to can or freeze vegetables, make my own spaghetti sauce, salsa, pickles and anything else I can think of. I have also quit buying junk food opting to prepare meals at home. Many of my neighbors are following this same plan. I live in Texas.

 

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