HelpForDebtors.com - Sound Off!

About Student Loan ..........................

nricklee — Fri, 22 Aug 2008 14:09:35 -0400

Hi,

Has anyone been able to sort out their debts while owing money on a student loan? I have around five thousand pounds of debt and a student loan of six thousand but not sure if I can do anything while I still have this outstanding? Any info would be magic, thanks Very Happy

Obama on Credit Card Reform

maggieb — Tue, 17 Jun 2008 13:46:18 -0400

Credit card abuse is hitting the presidential campaign. Barak Obama accused credit card issuers of using “unfair and deceptive practices to trick Americans into signing contracts they can’t afford.” He is calling for more restriction of credit card companies and their lending practices.

Obama proposed a Credit Card Bill of Rights which would:

• Ban changes to credit card agreements w/o an option for borrowers to opt out of the agreement
• Ban higher interest rate charges on existing debt. If a credit increases interest rates the new rate should only affect new debt, not existing debt. (i.e., ban card issuers from applying high interest rate retroactively)

You can help me get out of debt simply by clicking!

leonardfigowitz — Sun, 15 Jun 2008 00:41:40 -0400

GoDaddy.com has a program wherein a customer can put up a page for advertisers, and each click that page receives amounts to a couple of cents for the owner. Thus for every link you click on the page, I will get a couple of cents. And all of the links are relate to getting out of debt. Hey, it's not much, but it's something. You might want to look into it.

In the meantime, please go to this page and just click a link. I would appreciate it.

http://www.helpmegetoutofdebtbyclickinghere.com

Thanks,
Leo

Student loan help

maggieb — Tue, 13 May 2008 10:02:51 -0400

The president signed emergency student loan legislation last week which raises the amount undergrads can borrow. According to the Baltimore Sun it also, “loosens the rules so parents who are behind on mortgage payments can still qualify for federal parent loans. And it gives them more time to repay parent loans.”

Some people see this as much-needed help for students at a time they need it most due to the credit crunch. Critics worry that racking up more debt will only hurt students in the long run. They claim the government should have increased the number of grants instead (because grants offer students money for school that does not have to be repaid).

Stimulus Payment?

maggieb — Mon, 12 May 2008 10:56:45 -0400

Most taxpayers will receive a stimulus payment, except for some high-income earners.

The stimulus payment is not the same as a tax return; however, you are required to file a 2007 tax return to get it. Even low income earners and some Social Security recipients who don’t normally file taxes are required to do so this year to receive the payment.

The Economic Stimulus Package is intended to help stimulate the economy and deter an economic recession. The plan will result in checks from $300 to $600 for individuals ($600 to $1,200 for joint filers) plus $300 for each qualifying child. Over 180 million American households will receive payments from the IRS starting in May.

Next Great Depression?

maggieb — Wed, 02 Apr 2008 10:51:42 -0500

There has been a lot of debate recently about whether or not we're heading into a recession, if a recession had already started, and how our economy compares to the Great Depression. I found this article by liberal economist Andrew Leonard informative, if a little frightening. He puts things in terms non-economists can understand. While the article is mostly speculative, it also guards against complacency and helps real people see the causes and effects of decisions that affect our present economy. I recommend it.

The Great Depression: The sequel

Creditors won't reduce rates

maggieb — Thu, 27 Mar 2008 14:26:59 -0500

A recent article from Business Week reports that credit card companies are less will willing to reduce interest rates for consumers in credit counseling program. Discover won't go below 17.9% and Capital One remains at 15.9%.

As a result, more people will end up in bankruptcy according to Travis Plunkett of Consumer Federation of America.

The article also points to a study by Visa that says 50% of people who drop out of counseling programs file bankruptcy.

http://www.businessweek.com/print/magazine/content/08_11/b4075038438661.htm##

Are you eligible for a tax credit??

maggieb — Fri, 29 Feb 2008 13:24:24 -0500

The IRS says that over 20% of people eligible for the Earned Income Tax Credit (worth up to $4700) have not bothered to claim it. Before you file your taxes make sure you donâ€™t qualify for this or another tax credit. From the IRS:

Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are refundable â€“ taxes could be reduced to the point that a taxpayer would receive a refund rather than owing any taxes.

Taxpayers should consider their eligibility for the credits listed below:

bankruptcy "reform" & the 2008 election

maggieb — Thu, 29 Nov 2007 12:56:27 -0500

Here's something interesting:

Apparently democratic presidential nominee Chris Dodd was one of only 25 Senators to vote against the 2005 bankruptcy reform law (which was largely written by creditors and makes it harder to file chap 7 bk) and he is the "only presidential candidate to repeatedly vote against bankruptcy legislation that failed to protect children and families."

His website also has an (unofficial?) endorsement from consumer advocate/Harvard prof Elizabeth Warren.

Maybe it's too early to say Dodd has my vote, but he definitely just got my attention.

Credit bureaus let consumers freeze credit reports

maggieb — Thu, 04 Oct 2007 17:33:56 -0400

Starting in November, Experian will let consumers place a â€œfreezeâ€ on their credit reports, preventing new creditors from accessing the file without prior consumer consent. So, for example, an identity thief could not open a credit card in a consumerâ€™s name: the credit card agency would want to check the consumerâ€™s credit file but couldnâ€™t without notifying the consumer. The consumer would then know someone was trying to use their identity.

The other two major credit bureaus, TransUnion and Equifax, already let consumers request a freeze.

Placing a freeze is free for identity theft victims and $10 for other consumers. Consumer advocate groups like Consumers Union say price should not exceed $5 and the process should be simpler.