How to pay off bills

We've all been there from time to time. My suggestion, though most people are afraid of it is to
file bankruptcy for getting out of debt. Depending on your assets such as if you own property or not the fee is minimal..somewhere aroung $800 for everything.....they will never be able to bother you and you will have your life and your money back again. I've filed twice in my 43 years of life.....not happy that i had to file twice, but it happens.......talk to a local bankruptcy lawyer. Most of them give an initial consultation for free. Hang in there, it can only get better!!!!

susanb91877,

I would only choose bankrupty as a final option. Bankrutpcy will stay on your credit report for 10 years from the discharge date. When you signed up with this site, a couselor should have called to discuss your financial problems and set you up in a program to where you have one payment. It is hard to find a consolidation company that will consolidate pdls. Have you tried to contact the pdl companies and try to work out a payment plan with them? Some are willing to accept monthly payments and some will not, but it is worth a shot to call and see what they will do.

Some lenders are hard to deal with at the beginning. But, if you can assure them regular payments, they will be willing to work with you. Moreover, your effort to get out of debt will be mostly counted. So, figure out a payment plan and send the money through check to your lenders. Send it through money gram so that you have the receipt number. If the company cashes it, your proposal will be considered as accepted. In case, they don't, the receipt will prove your actions taken to resolve the matter. Do everything in writing and keep letters documented in a file for your records.

I am a U-Illinois law student specializing in financial study, and I'd like to note that you almost certainly will not go to jail for your credit accounts. The only debts which can result in your being jailed are child support and alimony back payments. These companies will try to scare you, but there is little basis for the threats.

Overall, in fact, I think you should not be too worried. Under the FDCPA, consumers have far more rights than most people know. If your problem is close to the collection stage, you can write to debt collectors to tell them not to contact you further (they MUST obey), order them not to call you at work, or report them to the police if they use any racial or sexual slurs. It's also important to note that collectors - much less the card companies themselves - have much less power than consumers think. They cannot garnishee wages or polace liens on property prior to winning a court case against you. As I just said, they cannot send you to jail. They usually can't touch income like student assistantships. Consolidation, furthermore, is easily available online - just Google (no checking) AND (consolidation). I also recommend the work of John Ventura for advice about how to settle with CC companies and get out of debt as well as stay away from collectors.

I'm not working have at least 20.000 grand in debt. can i go to prison for not paying?

Is anyone familiar with debt relief and and debt consolidation programs?? Do they really help? I want to get out of debt! I realize its going to take some time.. Can anyone give me a little info on how a debt consolidation plan works??

Hi SaraBella,

If you have too much of debts and you're finding it difficult to repay them, you can consider the option of enrolling in a debt consolidation program. This is one of the effective ways to get rid of unsecured debts.

Once you contact a debt consolidation company, a debt consultant reviews your financial situation to determine how much you can afford each month to pay towards your debts. If a debt consolidation program is suitable in your situation and you enroll in it, the consultant starts dealing with your creditors to reduce the interest rate and convince them to waive off the any late fees and other charges.

As the consultant handles your creditors, you stop receiving harassment calls from your creditors. Then, you can send a single monthly payment to the consolidation company. The company will make payments to your creditors. If you continue making payments to the consolidation company on time, you'd be able to get out of your debts at the end of the consolidation program.

several years ago my father took out a couple cards in my name, I didn't want to press charges at the time but one of the cards still remians in collection, is there anything I can do?

my dad took out a couple cards in my name several years ago, one of the cards is still in collection and ruining my credit keeping me from getting a loan. Is there anything I can do? Is there a SOL in the state of Arkansas? Should I just see if the CC will take a settlement?

Hi James,

The first thing you should do is check the Statute of Limitations applicable in your state. As far as I know, the SOL for open ended accounts like credit cards, etc. in the state of Arkasas is 3 years. In case the credit card debt is past the SOL, you can contact the collection agency and ask them to remove the listing from your credit report.

In case the debt has not crossed the SOL, you need to pay it off. First, you must ask the collection agency to verify the debt. Make payments to them only if they verify it. If they cannot verify the debt, they have no right to either collect it from you or report it to the credit bureaus.

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Will we have to pay more money this year back in taxes?

Looks into her crystal ball....gawd I hope not.