Managing Debt
Results 171-180 from 2,893 articles
Do You Ever Feel Ashamed for What We Are Handing to Our Children?
Asked by A.S. from Boca Raton
on October 26, 2011
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It's been weighing on my heart so heavily, especially our national debt.
How can I explain this to my kids? "Sorry - our country is so far in debt that the next se...
Answers
- Peg, best response I've read to anything in ages. Thank you. If you run for office anytime, let me know because I'd vote for you. For those serious about wanting to...
- We raise our children to be productive members of society and we tell them that debt is bad. We tell them that they need to be self sufficient and that the government...
- I think families first have to get out from their own debt. I think the personal debt has risen simultaneously with the national debt...definitely not at the same rat...
Home Mortgage Lender
Asked by K.H. from Dallas
on March 11, 2011
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So my husband & I are in the process of trying to get preapproved for a home loan. Problem is, is that we don't have any "revolving" credit. We worked really hard to p...
Answers
- Though this may not sound logical, a credit score is based not on "can you pay the loan" but "have you paid your previous loans". High income and no debt still doesn'...
- Former mortgage lender and underwriter speaking: This could be REALLY hard! Though it's good that you have zero debt, BRAVO...sure wish I could say that! It's imp...
- What about finding a mortgage broker? If you know and TRUST any realtor you could ask them if they have any recommendations. Good luck!
Budget Planner
Asked by K.R. from Springfield
on August 9, 2011
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I am looking for a way to put in a total debt amount (say 100,000) and then put in our income to determine how long it would take putting "x" amount toward that 100,00...
Answers
- I believe Excel has formulas for that kind of equation...but you need to factor in interest rates, etc..... Have you looked on the Dave Ramsay website? He's got lo...
- If you use financial software (like Mint or Quicken) there is a utility built in that does this for you. Assuming you're not at that point yet, this site may help: ...
- I know a wonderful financial planner who can help you answer your questions. She can do an initial consultation that may answer more questions than an online site. ...
Dilemma
Asked by H.S. from Cleveland
on July 9, 2010
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I have a situation that I am having a hard time making a decision about. I have the opportunity to go down to working 4-days at work. I would lose my insurance so I ...
Answers
- My company reduced my work day to 4 days a week last year and that slowed my process of paying off our debt as well. Yes, it was nice to have that extra day to spend ...
- If you can work while pregnant and I say this because my preg were so hard on me I couldn't then stay at your job and quit after the baby is born.
- I would continue to work full time. A few things you may want to consider in making your decission. These are difficult economic times. What if hubby looses his j...
Bankruptcy- Has Anyone Filed and How Bad Was the Aftermath
Asked by J.M. from Philadelphia
on March 13, 2012
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While going through a divorce (3 years after being seperated) and all debt in my name I am sad to say this may be my only option. My ex was out of work for a while an...
Answers
- I came very close, when I found my (first) husband cheating, and he/his gf opened up credit cards in my name and maxed them out to about $35K. After a year of fightin...
- Ok, I'll admit it, I love to watch Judge Judy. Not sure why, it's J. one of my guilty pleasures. I'm pretty sure she would say that all of the debt, be it in your ...
- Go to an attorney for a consultation with all of your information (they'll tell you what you need when you schedule). He will tell you exactly what you can do and wha...
We Need Help
Asked by E.W. from Phoenix
on October 7, 2008
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Okay like many others my husband and I are in over our heads in debt. My husband lost his job at the begining of the year. Even though he was able to find wnother job,...
Answers
- Hi E.- Money (or lack of) is one of the biggest stressers in life. I'm sorry you are having to go this tough time. I know many others are feeling the same crunch, so ...
- E.- I know it feels like a big black hole you are in right now (we are just climbing out) but you have so many options! My husband and I are working an awesome prog...
- We have been a military family and my husband is retiring next month. I have tried to plan ahead (a little). I have a home based referral business and can help you e...
Need Credit/debt Advice PLEASE
Asked by G.B. from Boise
on June 1, 2010
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If I own my house free and clear (Idaho) , but have a 40,000 credit card debt- can they force me to sell my house to pay off the debt?
We have been here 6 months l...
Answers
- Please consult with a bankruptcy attorney in Idaho. Almost all of them offer a free, no-obligations first consultation. They will be able to tell you what the homeste...
- Many companies now are willing to settle for significantly less than you owe. I've had several debtors in the last couple of years offer to settle for as little as 30%...
- We settled a lot of our credit card debt for just over 1/2 of what we owed. BUT..our sums were MUCH smaller. I think the biggest was about $3,000. The absolute BEST th...
Financial Advice
Asked by L.W. from Chicago
on January 29, 2009
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Hello Moms,
This year has been extremely tough with the economy. My husband was laid off and is now back in school Full-Time. He was a union carpenter and with the ...
Answers
- L., This economy is tough for everyone. Whatever you do, do not go with a debt consolidation company who promises to save you money and work w/ your credit card c...
- I have not ever been in that situation, but from watching a number of different things on tv, magazines etc. You should definitely look at your debt and lay it out if ...
- Hello, I hear you there. Though I must say, your debt is not bad and very manageable. I would not close out accounts or take out any more loans. If you do get an offer...
Closing a Charge Card
Asked by S.S. from Chicago
on January 6, 2012
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I just read another letter about debt consolidation. I am not planning on doing that, but finished paying off a charge card.
Does anyone know if I then close that acc...
Answers
- Do not shut it off. Just cut it up. It's better for your credit to not close the account. They won't send you a bill as time passes.
- Is this a "charge card" or a "credit card"? There is a difference. A charge card is Diners Club and American Express that need to be paid off in full each month (altho...
- Hi, I did the same thing. It stays on your credit card as good standings it does not hurt your credit. It will be on your credit report for at least 10 years so I...
Jff - Big Bonus
Asked by H.M. from Denver
on September 15, 2011
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Ok - my husband's company does profit sharing and this year he got a bonus equivalent to 3 months salary. this is awesome cause when he took this job his base pay dro...
Answers
- I'd spread the wealth around. First, I'd get rid of our credit card debt. That lone will save us big time every month and result in more savings. That said, I'd put a...
- 1. Pay off your debts. 2. Get food storage. Enough for a minimum of three months, but preferable for a year or more. 3. Get warm winter clothing for your family. 4....
- If I didn't have to use it all for bills, I would plan a nice vacation like you mentioned. The first few days for me and my SO and then a few days with the kids. And w...
