Debt consolidation is the form of extracting one unsecured loan to pay off one or more unsecured loans. It is known as one of the procedures adopted commercially to minimize the credit liabilities. The objective may be to minimize in the areas viz. the number of loans, the rate of interest, the term for repayment etc or just to avoid one or more disliked persons or organizations from the fray. The debt consolidator may buy the loan at a discount, if the debtor is on the brink of bankruptcy.

Hi Everyone! This is my first post here on the forum although I have lurked and read for months - I have recently gotten in over my head with PDL but I have great news - In NY the attorney general had filed a suit against Telecash and a settlement was reached - well TODAY I got the news about how much I would be getting back and I nearly fell off my chair - the settlement ranged from 10.00 - 4500.00 - Well I am getting back 2430!!! Yes you read that right TWO THOUSAND DOLLARS OMG I am so excited right now as I dig myself out of PDL trouble - wishing you all the best

I have a loan with Natinal Payday. I started this loan online on the 14 od december 2009. The loan was for $600. I have so far paid $1521 and have only brought the principal down $50. From what I understand, payday loans are illegal in my state (PA). If I were to challenge them and ask for a refund, is there a chance they would put in a check for the balance from my account? Any help would be appreciated as I am now unemployed and the $300 a month interest is killing me. Thank you.

My mother lives in a mobile home with my Aunt. They still owe money on this as even though it is a trailer, it gets treated like a 30 yr mortgage rather than an auto loan. My Aunt has recently been diagnosed with cancer, and we do not know how long she has. There is no way my Mom can pay this mortgage by herself, and I cannot either. She will move in with me. We thought about putting it up for sale, but if it does not sell, and my Aunt is gone, what would be the next best step? Mom is on SSI only and is disabled. I am wondering if the mortgage co.

this may be a silly question, but how long to keep old credit reports? Is it ok to shred the old one when you get the next updated one or should you keep it in case of future errors? thank you

Sorry for asking so many questions, but I am trying very hard to educate myself on how to handle the different situations. I am learning that "knowledge" is the power in dealing with this and to all that help - please accept my thanks again and again for all you do! My next question is when you get a letter from an attorney's office saying they are representing their client (a hospital) in regard to a debt.

I don't understand why we should have to get legal counsel to get our march 2010 returned by the courts. This was taken from our accounts and should be sent via check back to us. I watched my credit card statements and realized what was happening and blocked any further withdrawals from my account in April. I have called all of my creditors and they are working with me. I can't afford to just GIVE them or any one else 246.00 as I was laid off in Jan. I want my money! How can I get it back?

I need to know do I include my husband's business..he is an S-Corp newly formed..in figuring our assets and liabilities. I have settled one personal card and 1 bus card that is under his old sole proprietor name. I just do not know do I keep this all PERSONAL or include EVERYTHING..pretty sure we are insolvent either way...but just want to make sure. I still have 2 more personal to settle and 1 business line. Thanks.

can i get an example of a cease and desist letter?

I want to pay off a vehicle loan for the full amount due and sent an offer to in writing to the department which handles this type of transaction, I Wrote: This letter is in response to your calls, letters, and credit report entries for the debt account listed above.