Comments for Credit card debt Services

Comment on Information On Debt by munsterrugbyfan

munsterrugbyfan — Sat, 31 Dec 2011 23:30:36 +0000

How is the ownership of this franchise set?
If it is a private holding, then the only way to find that information is to ask them directly. Private companies do not have requirements to publish financial statements that would show the level of equity in the company.
If it is a corporation, then the company has to publish its financials, and those will show the level of debt to equity in the company.
Anyway, you can go online and search for “company profile” with the name of the company on sites like Forbes.com. They keep a pretty decent up-to-date info on companies, even some private ones but obviously void of financial information.
I have always advised investors to be cautious when approached by someone to buy a franchise, the main selling point of successful franchises is that they do not need to look for investors, investors look for them. McDonald’s does not target potential franchisees, potential franchisees go after McDonalds because it is a tried and true investment.
As with any investment, if the company is loaded with debt you must add a Risk Margin to your expected returns, and do some value-based and economic-based analysis to ensure that your return would be feasibly achieved.

Comment on Services Debt by Kim

Kim — Sat, 31 Dec 2011 23:24:07 +0000

I had the same problem of debt.

Go to —> http://www.mb01.com/lnk.asp?o=2488&c=918273&a=52701

Give your info for help.

End of Problem.

Best Answer.

Comment on Services Debt by Anonymous

Anonymous — Sat, 31 Dec 2011 22:18:01 +0000

Who is the best debt Counseling and debt consolidation services?
We owe a debt for around 9000 from different credit card company, we already received a summoned letter from 1 company coming from an attorney, we want to pay it off on a monthly basis and include the remaining debt that we owe to the other credit card company ,which financial services company can help with our problem.

Comment on Services Debt by CatDad

CatDad — Sat, 31 Dec 2011 22:16:09 +0000

CareOne offers two services: credit counseling and debt settlement. Being enrolled in a debt management program would cause your credit report to state “enrolled in debt management.” This does not specifically damage your credit rating but it would make it virtually impossible to qualify for new credit while you are enrolled in the program…but that’s the whole point of being enrolled in a debt management program to begin with…to stop using credit.

CareOne also does does debt consolidation/debt settlement. Stay away from any “debt consolidation” company that promises to cut your debt and payments in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

Many people who sign up with “debt consolidation” firms incorrectly assume that they have the power to force your creditors to accept settlements…they don’t. Your creditors have the right to refuse settlements and take you to court.
——————
If you want to enroll in a non profit debt management program then I would advise to use the real one….CCCS. Contact your local Red Cross for a referral to the local Consumer Credit Counseling Services (CCCS). They can negotiate reduced interest and payments. They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to “enrolled in debt management.” This does not damage your credit, but it may make it difficult to obtain new credit while you are enrolled in their program….so don’t use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would might be denied while you’re enrolled in the CCCS debt management program…

CCCS counselors will often tell people to not file for bankruptcy when they really should. If your debt is overwhelming relative to your income/assets and the reduced payments negotiated by CCCS simply will not work, then you should think about filing for Chapter 7 bankruptcy

Comment on My Debt by Art Fan

Art Fan — Sat, 31 Dec 2011 21:53:26 +0000

Can a debt collector garnish my wife’s wages for a debt in my name but before we met?
Can a debt collector garnish my wife’s wages for a debt in my name?
I have a old debt that is past the statue of limitations, and they are threatening to sue, I am however unemployed and got married a few years ago and am now worried that they may try to garnish my wife’s wages, do I have any reason to worry, can they do this?

Comment on Companies In Debt by kiloranbrae

kiloranbrae — Sat, 31 Dec 2011 20:37:27 +0000

Having assisted a few people deal with Debt recovery agencies my experience is they tend to act first think later. Their priority is to get a debt paid not to check the accuracy of the debt, the true ownership of the debt or the situation of the individual.

Documentaries have shown the heavy handed tactics that some debt collection agencies may try intimidating not only the debtor but perhaps family members including children.

Where there is a debt issue try and resolve it.

Help and advice from agencies such as Citizens Advice Bureaus or Welfare Right agencies is often useful and they will know how to ensure that the debt collection agencies behave in an appropriate manner,.

Comment on Services Debt by purodreamer

purodreamer — Sat, 31 Dec 2011 18:29:04 +0000

Can debt relief services affect your credit if you use them to lower your interest rate?
I am planning to sign up for Care One debt relief services to help me consolidate my CC debt. Do you think this will actually work? will this affect my credit rating? Does anyone have an opinion about this company and their services. I was reading their blog and for the most part it sounds like it really works but I’m trying to search for more answers.
Thank you in advance for any suggestions or feedback.

Comment on Companies In Debt by sophieb

sophieb — Sat, 31 Dec 2011 18:14:10 +0000

I worked for a bankruptcy attorney once who said if a person lives with their parents and owes debt and the collectors have tried three times to collect that money and then that’s turned back to the creditor and the creditor takes that person to court and gets a judgment, well if the person can’t pay and has no assets then the attorney said they will go after the parents and their assets. So seems to me that whether a person is alive or deceased that there must be some law that says something about if you’re all living in the same house (or maybe even if you’re a minor) then others living in that house “could” be responsible for the debt. Now I don’t know whether that’s just in my state or all states but I would think it’s the same in all states since this came from a bankruptcy attorney and bankruptcies come under federal law.

Comment on Debt Counseling Company by Visualize Whirled Peas

Visualize Whirled Peas — Sat, 31 Dec 2011 17:00:26 +0000

The best one? YOU.

You are best one to take care of this problem. Why? Because you have total control over your life, destiny, and successes. You can draw up a real budget with real numbers and real dates and real goals. You can list all of your debts, contact the creditors, make arrangements to pay them, and fulfill the promises you make.

Get out of the mode of thinking that someone else will fix it. It’s simply not someone Else’s responsibility.

Comment on Companies In Debt by Doc

Doc — Sat, 31 Dec 2011 16:37:13 +0000

why do debt companies think others inherit debt?
why do debt companies try to sue my parents lets say i die on debt not their debt. guess what they get sued the debt company and loose. debt laws are in favor of my parents.