Archive for the ‘Debt’ Category:
Household debt growth slowing
household debt growth slowed
Ottawa Canadians can begin to get the message about the dangers of rising debt, suggests a new report from CIBC.
Read Fort Frances Times
As Debt approaching ceiling, Treasury take action
Unnoticed among Japan’s downgrade and the disappointing jobs report this morning is the fact that the U.S. Treasury has taken measures to avoid breaking the debt ceiling.
Read more at «http://blogs.wsj.com/marketbeat/2011/01/27/as-debt-ceiling-nears-treasury-takes-action/» > Wall Street Journal Blogs
Taiwan’s government blasted for high national debt
Taipei, Taiwan – An opposition lawmakers blasted the administration announced Thursday for increasing national debt to stimulate the economy after an international agency, a negative assessment of Taiwan’s currency.
Read AsiaOne
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PM In Davos: ‘UK Must Kill Off Debt Spectre’
Clock in Davos: «UK Must Kill debt Spectre»
The Prime Minister has warned the world leaders warned that with the British claim the only way to grow is to restore, Britain.David Cameron told delegates at the World Economic Forum …
more to Read «http://uk.finance.yahoo.com/news/PM-In-Davos-UK-Must-Kill-Off-skynews-4219095062.html?x=0″> Sky News via Yahoo Finance UK & Ireland Finance
Soros Says € debt crisis remain on `path to the solution of the problem» imbalances
Billionaire George Soros said that while in Europe, debt crisis, «away on the way to a solution,» structural imbalances in the single currency, can lead to a future political «disintegration» of Europe.
more to Read «http://www.bloomberg.com/news/2011-01-27/soros-says-euro-debt-crisis-is-on-way-to-being-solved-imbalances-remain.html»> Bloomberg
MyCashFlowNotes.com: An online community and blog about credit and debt
MyCashFlowNotes.com, an online community and blog about credit and debt, has published new pages on foreclosures by state, poor credit history and debt solutions. (PRWeb January 29, 2011) Read the full story at http://www.prweb.com/releases/2011/01/prweb5013184.htm
Read more on i PRWeb
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Lastest Debt News
MyCashFlowNotes.com: An online community and blog about credit and debt
MyCashFlowNotes.com, an online community and blog about credit and debt, has published new pages on foreclosures by state, poor credit history and debt solutions.
Read PRWeb via Yahoo News
Portuguese Debt Agency plans auction of up to 1.25 billion euros in Bill
Portugal said it will so much as sell 1250000000 € (1.7 billion U.S. dollars) of bills in an auction, seeking to avoid the use of external assistance, to redeem its deficit and service existing debt.
more to Read «http://www.bloomberg.com/news/2011-01-27/portugal-s-debt-agency-plans-auction-of-up-to-1-25-billion-euros-in-bills.htmlhttp://www.businesswire.com/news/home/20110127006732/en/Western-Asset-Emerging-Markets-Debt-Fund-December»> Business Wire
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Bill Gross sees dangers in the debt-limit debate
Bill Gross sees dangers in the debt-limit debate
The world’s largest bond investor says the fight over raising the country’s borrowing limit threatens to throw the debt market into a tailspin.
Read more on AP via Yahoo! News
Analysis – S&P’s Japan debt downgrade could help PM reform push
Standard & Poor’s downgrade of Japan’s debt could be a blessing in disguise for Prime Minister Naoto Kan as he tries to tackle tax reforms to curb huge public debt while dodging calls to quit or call a snap poll.
Read more on Reuters via Yahoo! UK & Ireland News
Japan’s rating cut on bloated debt levels
As public debt nears ¥997.7-trillion, the industrial world’s most heavily indebted nation is downgraded
Read more on The Globe and Mail
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EFSF Funds Must Be Recorded As Debt By Members: Eurostat
EFSF funds are to be recorded as liabilities by members: Eurostat
(Aktiencheck.de Financial) – Debt of the European Financial Stability Facility (EFSF) issued must be included as gross debt of the participating Member States of the euro zone for the increase of the bailout money, Eurostat said on Thursday.
Read INO News
IB team of the week: SocGen debt syndicate desk
Société Générale Corporate & Investment Bank, the debt syndicate desk in the year to a flying start, which culminated this week with slots at Landmark, by the European Financial Stability Facility and FROB, Spain’s savings bank restructuring fund.
Read eFinancial News
MONEY MARKETS- cut in short-term debt pressures size repo rate
* Short-term debt program is cut to $ 5 billion * $ 200 billion reduction earlier than expected * Euro-zone interest rate futures fall NEW YORK 27 (Reuters) – Repo rates fell on Thursday after the U.S. …
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Ukraine piles up debt in 2010
Ukraine accumulate debt in 2010
RBC, 01.28.2011, Kiev 00:19:47. Ukraine’s debt gained 36.8 percent year on year, reaching $ 54.289bn of 31 December 2010, said the country’s Finance Ministry on Thursday. The increase is attributed to increased domestic and foreign loans that exceed repayments, the ministry said.
Read RosBusinessConsulting
S & P cuts debt rating Japan, the first time since 2002
Rating agency Standard & Poor’s cut Japan’s long-term government bond rating on Thursday for the first time since 2002, the government said the country lacked a coherent approach to tackling its mounting debt.
Read Reuters via Yahoo News
Ford posts lower profit in the fourth quarter on debt payback period
Ford Motor Co posted an 80 percent decline in fourth quarter earnings after a charge on debt repayment, but raised its forecast for North American production this quarter and the outlook for the full year, industry sales.
Read Reuters via Yahoo News
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One More Repo, and I’ll Be Debt Free tee Shirt SM-6XL
Debt
eBay auctions should keep in mind:
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Love & Guilt & Meaning of Life ~ Judith Viorst HC/DJ
 | US $4.99 (0 Bid) End Date: Sunday May-20-2012 9:43:03 PDT Bid now | Add to watch list |
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How can I acquire a student loan when my school does not offer any help or participation with them?
Where can I find a loan with deferred payments? I had to transfer from a state university due to medical problems and a ever declining GPA. I now am attending a local community technical college on a fast track for an associates of radiology technology. I am broke beyond belief and have no help from family…. I was able to get by before on student loans to cover my medical bills, tuition, and living expenses. I haven’t accrued much debt in the year but I cannot find a job to work with my school schedule but I’m not giving up on one. The 2yr community college only offers financial assistants to cover tuition and nothing beyond not even for books. I’ve managed by doing odd jobs during fall term but this winter has been harsh. I am a third through the term and still have no books and bills are piling up. I have been searching everywhere for a student loan but cannot find one that doesn’t go through the school for disbursement. The school will not help me and I’m running out of options. I have fair credit (due to a high revolving balance) and the only collateral is my truck. Is there any help out there because I’m drowning and the degree is in eyesight!
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How can I build a better budget?
Special snowflake budget filter: I tracked my spending in 2010, how can I improve my budget for 2011? I tracked most of my receipts in 2010 from latte to plane ticket. It seems about 10% got lost in the shuffle. I am trying to pay off significant debt and will be looking for a new job 3/4 of the way through this year, so I have some saving up to do in 2011. I am a childless early thirties working professional.
What do you think of my numbers? They represent the percent spent of my net income. Can you suggest on where to improve? What do you think of my categories? I plan to eliminate Misc in 2011.
22% – Home (rent, utilities, cell phone, home improvement). Rent is 17%
15% – Food (groceries, cafes, restaurants) Eating out is 6%
5% – Transportation (bus, taxis, bike) Taxis are 2.5%
2% – Entertainment (movies, plays, concerts)
10% – Health (naturopath, dentist, supplements, massages, osteopath)
9% – Vacation (plane tickets, car rental, food) Plane fare is 5%
2% – Recreation (gym, yoga, sports)
2% – Dues (internet connection, website)
18% – Personal (clothing, makeup, haircuts, gifts) Clothing is 11%
5% – Financial Obligations (debt payment, bank fees) Savings 0%
10% – Misc. (untracked or uncategorized)
Thanks for your input
Original text: How can I build a better budget?
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Some advice, and a shovel, would be handy (re: student loans)
Can you help me figure out what to do with my student loans? Payments are due next month and I have no clue what to do next.
I graduated from nursing school last August, and because there were no jobs for new-grads in Boston, I ended up moving to a rural area where there was a job. I’m not making that much money. $~42,000. As far as I can figure it, I have $62,117.12 in debt.
Discover Alternative Loan
Unsubsidized $20,831.00 2.75%
Unsubsidized $7,000.00 8.00%
Unsubsidized $3,000.00 8.50%
Interest $546
Stafford Loan
US Department of Education
Subsidized $5,500.00 5.60%
Unsubsidized $7,000.00 6.80%
Interest $402.96
Stafford Loan
Discover SL Funding
Subsidized $5,500.00 6.00%
Unsubsidized $7,000.00 6.80%
Interest $704.23
Stafford Loan
Us D. E
Subsidized $3,500.00 6.00%
Unsubsidized $1,000.00 6.80%
Interest $132.93
Total $62,117.12
They are being serviced by Great Lakes.
I seriously have no idea what to make of any of this. I’m confused, can I consolidate all the loans into one loan? Or just the Stafford loans, or just the federal Stafford loan and not the Discover Stafford loan?
My dad’s friend was telling me about some consolidation strategy where you can pay 10% of your salary for 10 years and after that the remainder is forgiven?
Due to the market, there was no loan forgiveness offered to me through work. Hopefully in a year or two I’ll be making significantly more money.
Any suggestions for a strategy for paying them off? I originally thought I would try to be really aggressive in paying them off, but considering how much I’m making, regardless of how I try to pay them off, they will be around for a while, and I could have them paid off without having anything in the bank, which doesn’t sound good. Should I try to pay them off slowly and focus on at least getting a little money in the bank?
And if this is not the appropriate place to ask, can someone point me in the direction of some relatively easy to understand help? I’ve never had any debt in my life before and this is freaking me out.
Thanks so much. If you have questions I’ll send them with through the admins.
Original text: Some advice, and a shovel, would be handy (re: student loans)
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Pay off my student loans or make a large downpayment on a home?
Should I pay off my student loans or put a down payment on a house? I have $35,000 saved up to put a down payment on my home. My student loans also total around $35,000, I have no other debt. My parents are adamant that I pay off my student loans, then think about saving up and buying a house. I currently pay $450 a month in student loans, it would take around six and a half years to earn back the money spent on the loans. I also get tax breaks on the loan interest and assuming the economy doesn’t stay in the tank, in five years I’ll still be paying the same amount but earning more.
With a house I’d also be buying in a down market with the opportunity to actually get a return on my investment. Housing prices could continue to drop, but I think with the area I’m in, they’d at least stay stagnant. There’s some risk involved, as with any investment, I think the upside is much more lucrative.
My parents and my girlfriend, on the other hand, think I’m crazy and should pay one debt down before taking on a mortgage. They don’t pay my rent or my student loans and will be contributing nothing to my house purchase, so their opinion doesn’t really matter, but I’m willing to at least take it into consideration. I really don’t see why they’re so uneasy with the concept of multiple debts, especially when one is an asset with growth potential, unlike student loans or a car payment.
Is my reasoning correct or am I missing something? Is my family just being a bunch of hardcore no-debtors? Considering they come from the school of thought that 5-year car loans are okay, I don’t take financial advice from them, but the fact they’re being so conservative has given me pause.
Original text: Pay off my student loans or make a large downpayment on a home?
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Financial advice needed.
How can I get my financial house in order? Lots of debt and terror. I have spent my whole life running away from financial responsibility. This year I want to change that. But I do not know where to start, really — except by asking you all for help.
Most of my creditors have been wonderful and let me pay in bits and pieces. My credit rating is truly awful, and I hesitate asking friends or family for loans, because it is a bad, bad idea.
1. I have a full-time job. I live paycheck to paycheck. No major credit cards — just a debit card and a low-balance card ($500) for crises. Last year I had a lot of «insufficient funds» fees at $34/pop, which killed me. I estimate it added up to $4,000.
2. I owe significant amounts of money to a variety of people, medical and otherwise ($6000, $1300, $800, $3700) that I am paying off slowly.
3. Terror. I have had bill collectors dunning me for years (a total of $25,000), and one of those debts has gone to court and a legal notice has been sent to garnish my paycheck. Can I stop them doing that? Should I talk to a lawyer first?
4. Terror, Part 2: Years of unpaid income tax. When does this get written off? After 7 years?
Assume I know nothing about budgets or online budget trackers. Should I talk to a debt counselor? What are some good recommendations?
I am completely terrified and scared to be even asking this question, so thanks in advance.
Original text: Financial advice needed.
Similar Posts:
- What do I do about my school debt lawsuit?
- How long ’til the bill collectors go away? It’s been more than 10 years for a $50 debt…
- Do unpaid tuition bills expire after a certain number of years like other bills can?
- Legal troubles over a decade-old debt to bank
- Can I take a Stafford loan without the help of my school?
Mental illness, debt, and me!
Have bipolar. Getting better. No employer. Debt collectors. Help! I’ve been suffering from mental illness for years, with the swings being extreme enough to prevent me from seeking gainful employment. I was fortunate enough this year to finally happen upon the proper combination of medication to stabilize my mood.
In the meantime, I’ve accumulated debt. About $10,000 of it, often due to irrational spending sprees. I’m willing to own up to my errors, but I’ve been too overwhelmed to know where to start.
I’m now over two months past due on nearly all of my accounts. Creditors and collectors have been contacting me, but I haven’t picked up and have been too anxious to listen to their messages. The one creditor that I did get in touch with asked me to pay a third of the balance on the spot, which I’m presently unable to do.
Prior to this, I was able to stay current by making slightly above minimum payments to the accounts. I’ve now run out of funds to even continue this approach. I am fortunate enough right now to be financially supported by my family, but they aren’t able to help out with this.
I’m starting to look for a job now that I’ve stabilized, but the stress and pressure of this has dragged me down.
What can I do to get this dealt with? How can I get some breathing room? I’ve read a bit about consolidation and settlement, but my understanding is that I’d actually need funds to pursue either.
Is there anything I can do in my current position to stop the calls, short of landing a job?
Throwaway: bipolar.debtor[at-ta]gmail.com
Original text: Mental illness, debt, and me!
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Opposite of loan-sharking? Loan-baby-bunny?
Looking for a fun way to say: «you don’t owe me that money anymore» A friend of mine owes me some money. Just lots of things that have added up over the last few months. And I’ve decided that for Christmas, I’m just going to write off the debt.
I need some sort of wording to put in a card that doesn’t sound snarky (I’m afraid of giving the implication that she took too long to pay me back. It’s really not like that.)
I’m thinking something along the lines of «IOU». But that doesn’t seem clear enough. (Or I guess that should be «UOme»)…. but regardless, not clear enough.
Please teach me how to say this…
Original text: Opposite of loan-sharking? Loan-baby-bunny?
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I don’t want luxury but I would like to make ends meet.
I can’t make ends meet and am at the point of looking into bankruptcy. Please help me understand bankruptcy and if it would even work for me. Snowflake details inside. I am self employed, sole proprietor, in Ontario and the sole income provider for a family of 6. What I have seen online has led me to believe that I can’t be self employed and claim bankruptcy. However, I can’t close my business as there would be no income to support my family. I have seen consumer proposals mentioned as an option but no details on if they would work either.
My income almost, but not quite, covers our (basic, not extravagant) needs, the (basic) costs of running my business, and minimum payments on our debts. By the time I file my taxes for 2010, I will owe approx. $15 000 for taxes and $6000 on student loans. I have $2200 in credit card debt plus $2500 on a joint cc in my partner’s name. My partner has $5500 of additional cc debt. I have been making small payments regularly to keep everyone at bay but after 2 years of this I can’t keep it up anymore.
Getting a second job is off the table and due to the nature of my business I cannot increase my income. My partner is not earning any income, which is a complicated and touchy subject so let’s ignore their part in this for now.
My credit rating is shot, so I’m not worried about that short term, but one day I would like to buy a house. I have no assets and zero savings. What do I do?
Original text: I don’t want luxury but I would like to make ends meet.
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How to recover debt from a friend and maintain sanity?
How to help recover $400+ owed to my mother; or how to help her let go of this (minor) debt and move on? (apologies for the length, trying to get all details covered. I have read previous threads but none were quite what I was looking for.)
My mother moved out of the US about a year and a half ago; before she left, she put all of her riding equipment up for sale at a second hand/consignment shop. The shop was owned by her friend, and they had done business together often.
A few months after she had moved, the shop owner/friend got in touch with her and said the saddle had sold for around $480 and that she would get her the money soon. My mother offered to send her a deposit slip (she maintains accounts in the US), or to have my sister pick up payment. When my sister went by to pick up money owed to her (for a separate transaction), no mention was made of the $480. The shop has since closed.
During this whole time, my mother has been emailing and facebook messaging the shop owner/friend to try to communicate about the debt. Responses have gone from «Oh yes I’ll pay you soon» to complete radio silence. I understand that this is a frustrating situation and a lot of her reaction to this comes from the fact that she considered this woman a «friend». Part of it is that she could use the $480 and part of it is the principle. My mother has even decided that she would take trade in lieu of cash payment (the shop owner/friend is also an artist, who has done custom work for us before).
Recently, my mother has been bringing it up every time I call or skype with her. I’ve tried commiserating with her, giving her advice on how to frame requests, and even went so far as to offer to call her myself when I was in our old hometown next. I called over the Thanksgiving weekend, and managed to get hold of the shop owner/friend. She answered the phone and became noticeably colder when I identified myself (I knew her socially). She told me that this year has been hard financially, and I said that I understood that it was rough for lots of people this year. I told her that my mother would consider accepting a partial trade if paying cash was a hardship, she verbally agreed to this plan and gave me prices for artwork. I reiterated that my mother was «disappointed» that she hadn’t been able to «get in touch» with the shop owner, since they had been friends when they lived in the same town.
I have since emailed the shop owner/friend and (not surprisingly) have not heard back yet. My mother continues to bring up the subject every time we talk, which in turn makes me not want to call her, just so we don’t have to have that conversation again. (I know it’s important to call often as I see her once a year at best and I am committed to maintaining as close a relationship as possible). Part of me thinks I should avoid/change the subject when she brings it up, but I have had success with having «serious talks» with her in the past, so advice on what to say to help her let this go would also be appreciated.
SO! How can I:
a) help resolve this so both parties are content (either recover the cash or arrange a trade situation, or another option I haven’t yet thought of)
OR
b) help my mother let go of this and move on (or at least have her stop talking to me about this without hurting her feelings)?
(Perhaps relavant: My mother has copies of all correspondance including acknowledgement of the debt on the friend’s behalf; I have the friend’s email address and phone number and know some mutual friends; I live in a city about 3 hours away; I would like to minimize further middle-man type back and forth. Anonymous because I use the same online handle all over the web and don’t want to air this any more publicly than is necessary.)
Original text: How to recover debt from a friend and maintain sanity?
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Can you spare some guidance for the hopelessly financially ignorant?
Is it worth consolidating my student loans, and if so, how do I go about doing it effectively? My student loans are coming due soon, and I used about twelve different lenders throughout my four years. Right now, I can think of nothing more appealing than having to deal with only one institution rather than these twelve and sending out one payment per month. But I am really financially uneducated, so I have a lot of questions about loan consolidation:
First, how do I find a reputable consolidation firm that won’t blow up my interest rates, and does such a beast even exist? I’ve heard the government will consolidate certain loans, but have no idea how to start this process, or if I am eligible. Also, is it even worth it to consolidate? Does the answer to this question depend on how much debt I have?
Second, what are some institutions that any AskMeFi users have had positive experiences with?
Any advice you can throw me on this topic of student loan consolidation(I’m sure there are questions I didn’t even know to ask) I would appreciate! Thank you.
Original text: Can you spare some guidance for the hopelessly financially ignorant?
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Financial/Career Advice for my Girlfriend
My girlfriend graduated this past summer and has about $9,000 of college-related (not a student loan) debt. She’s treading water and having a very hard time post-grad, and still hasn’t found a job yet. Works full time at a coffee chain but it just isn’t enough. Need some advice… My girlfriend just turned 26 this month. She graduated at the end of summer with a Bachelor’s in Psychology (major) and social work (minor). To make a long story short, she had delayed going to college earlier in her twenties, due to a family incident involving her mother where there was fear of suicide etc. Doing this put strain on the relationship with her father where she basically had to front the whole cost of college herself since he had believed
Her total debt right now is about 8-9k spread out across 2-3 credit cards, all pretty much directly college related. She currently works at a popular coffee chain as a shift manager. Currently her major bills are her car, credit, gas and food. She still lives at home so rent is not an issue.
I had her go through all her credit cards and call the companies trying to get the balances knocked down. She’s trying to limit any other expenses as much as she can. She’s cut her work hours down a little bit (from like 40 hours a week to about 30) so she can job search further. She isn’t spending ANYTHING on any card and has basically shredded them. The big reason she’s still at her current job are the excellent health benefits they offer. So two fold question:
1. What can she do to work on paying off her debt so that she can save and just pay bills every month instead of dumping the majority of the money to bills. I’ve considered bankruptcy for her but that’s such a horrible last resort that ruins your credit for years. Is there a way to consolidate all the credit cards into one bill? (I guess that’s like a debt-consolidation?)
2. What kinds of jobs can a psychology major/social work minor find post grad? She’s planning on graduate school but she needs to find a better job than what she has now. The pay is better than minimum wage, but it’s not enough to save or pay down debt. Do you think her credit card companies would lower her balances even more if the only other option would BE bankruptcy? (They’d want to get some money as opposed to NO money right?) Anyone have any stories etc of this?
She’s just treading water right now so I’m really just trying to figure all options. Thanks very much in advance for everyone who takes the time to read and offer advice. I love this woman and I want to marry her, but she knows she needs to work through this first before we’re anywhere ready to get to that step.
Original text: Financial/Career Advice for my Girlfriend
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I’m not going to break your knees
I work in collections in Florida. We get bonuses. Please help me get big checks and behave ethically (and legally!). For sanity’s sake, please note that our handbook doesn’t address these concerns and my supervisor is very very busy dealing with much bigger problems than I could ever imagine presenting. My training is (rightly or wrongly) not the top priority. So, metafilter: train me, please. The economy sucks, and I’m dealing with an industry that caters to people with mediocre to bad credit. My accounts are all originated by the company I work for. Though we’re not a 3rd party collector, we strive to follow the laws specific to that scenario.
Where can I read about those laws?
And how can I incorporate my knowledge of them into my (totally undeveloped) strategy for getting people to pay.
Without giving too much away, I need to know about front end collections (60 days).
Wage garnishment is an option, after 180 days, and not in all states. We don’t lie to our clients. If we’re told not to call work anymore, we stop calling work. Bankruptcy filings are respected.
What should I know, technique wise?
How do you carry on after an entire 8 hours where you got exactly 1 client on the line?
Anonymous because I signed a non-disclosure agreement and while I’m not proud to be working in this particular industry, I like buying groceries and having a savings account.
Original text: I’m not going to break your knees
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What to expect for pre-trial conference for credit card debt?
Pre-trial conference for a credit card debt under 5k? Today my fiance was served with paperwork ordering me to appear at a pre-trial conference for a credit card debt owed under 5000 dollars. Not relevant to this, but i attempted to work with the creditor some months back but they wanted either all of it in a month or over 2 months, neither of which I could do. I understand that a creditor not working for me is not a defense, nor is ignorance of the law. I understand that while there are lawyers on MeFi, you (should you answer) are not my lawyer. I really am just trying to find out what to expect. I owe the debt, and want to settle it, but would like to know if there is anything I should look out for.
Bonus points if you know of a decent, low fee civil lawyer in Central Florida that could be consulted regarding this.
throwaway email – unsurecivilsuit[at-ta]hotmail.com
Thanks in advance!
Original text: What to expect for pre-trial conference for credit card debt?
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Do unpaid tuition bills expire after a certain number of years like other bills can?
Do unpaid tuition bills expire after a certain number of years like other bills can? Just a simple question:
I have recently heard that if you have certain kinds of debts (like unpaid, old credit card debt in collections) if a judgement hasn’t been obtained against you by a certain number of years, the debt «expires.»
If this is true, could it work the same way for tuition bills?
I have a 9 year old tuition bill for around $6,000. Since I was never able to pay off that bill, I never graduated, and because I never graduated, I’ve never been hired for a job making more than minimum wage or so. I have never been able to afford a car, need cosigners for apartments and phone contracts due to my income, am usually broke by the end of each pay period- I’m just saying, I have very little extra money beyond what I need to actually keep living.
I now have the opportunity to interview for a slightly better-paying professional job. The only problem is, they require my transcripts from college. My college will not release the transcripts while I still have an outstanding balance. And, I have the fact that I attended that college for the years I was there on the resume and application, so they know about it.
Is there any way I can get this bill dismissed somehow since it has been so many years, as you can apparently do with other debts? If so, would the college release my transcripts after that? Their policy of not releasing transcripts until all debts are paid off is extremely strict and I have never heard of any exceptions.
Original text: Do unpaid tuition bills expire after a certain number of years like other bills can?
Similar Posts:
- How do I prove I paid this?
- How can I acquire a student loan when my school does not offer any help or participation with them?
- How to go about paying for a college education?
- Financial/Career Advice for my Girlfriend
- How long ’til the bill collectors go away? It’s been more than 10 years for a $50 debt…
Can’t find these two "we’re screwed" articles I know I read
[Econpocalypsefilter] Help me find these two articles on how the economy is F*cked even worse than most people give it credit for
-Since about the mid 1970s, the vast majority of American economic growth has been in the home-building (and associated) sectors of the economy. Hold those sectors constant in the analysis and the American economy looks like there’s been drastically less growth than we’ve been led to believe.
This necessitated an ever-expanding pool of home-buyers, since homes had gone from a place you lived in to an investment property based on the principle of There will always be one more fool down the line willing to pay more for it than I paid, since housing prices do nothing but go up. Which led to the entire system becoming corrupt, fraudulent mortgages given to people who had no proof that they could afford to pay the loans back, while the brokers got their fees and got out, not caring what kind of damage they left in their wake
And now the whole housing ponzi scheme is coming apart at the seams, and people are going to keep trying fruitlessly to put Humpty Dumpty back together. I think this may have been a James Kunstler article. but I’m not finding it.
But another way to phrase that is to «Get Americans to go further into debt than they already are», and Americans are already up to their eyeballs in debt that they can’t repay.
This is a problem because our entire economic system is based on money created out of debt rather than on real-world goods. If people don’t go into debt, new money is not created. And since all debt needs to be paid back with a vig interest, the money for that interest has to be created by… yep, more debt.
Original text: Can’t find these two "we’re screwed" articles I know I read
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Paying to learn a tough lesson
How do I go about proving an uncollectible debt? About August of last year I got a call from a woman who, up until recently, was my mentor. She said she’d been the victim of identity theft and she was in the process of moving and had no money for the deposit on the new apartment or to pay the movers. Now this is a woman who helped get me into college, who’s always been eminently trustworthy and who I respected a lot.
I was, at that point, getting paid in cash for my job. And I was putting 1/4 of each check away to pay the taxes later. I told her I could take the money out of there but it would HAVE to be back by tax time. She said the bank was looking into the way the identity thieves got her money and she thought it would be replaced soon. So I loaned her 3200 dollars
Over the next few months I would call to check on her as a friend and also to get an update. I would offer to call the bank and look into it. I would offer to get experts to look into it. I was always rebuffed. Eventually what I did find out through her is that she had been compromised before. By people in croatia and poland. To the tune of tens of thousands of dollars. And possibly a couple of times. And now the bank thought she was in on it.
Do I think she was? No. She’s a woman in her 60′s. I think it’s unlikely for her to get involved with this sort of thing. Do I think she’s lying? Not necessarily. She uses her debit card online and on an old PC that probably has no antivirus software to speak of. She’s older and she’s proud and she’s probably made some major mistakes here.
But one of the big ones was how she handled it with me. She dodged me and told me she’d loaned out thousands to people and never gotten it back. And as tax day drew near her plan was to borrow it from another friend of hers who was rich.
It didn’t happen.
I had to borrow money from my boss to cover the money I loaned her and spent a good deal of time paying him off this year. It left me in a hole I just got out of.
She is a friend and, up till now, I could never imagine her doing this. In the interest of that friendship I asked if she could even pay some token monthly amount to pay me back. She agreed and then I didn’t hear from her. When I finally did, she said she was now living with friends and I would someday get my money from her. But to stop pestering her about it.
When I brought it up to a friend – because I was just angry and talking – he said I could claim it as an uncollectible debt on my taxes and just be done with the whole thing. I asked my tax guy about it and he said I would need to prove I tried to collect on it. But if I did I could take a deduction for the amount
What’s the bare minimum I would need to do in order to do this? I don’t want to harass this woman but if it could be done simply with some notarized letters and such then I think I could put the whole thing behind me. Maybe someday I might be able to think about this woman without getting immediately angry.
Original text: Paying to learn a tough lesson
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Can and should the Federal Reserve assume public debts to stimulate the economy?
The US states are massively in debt, and public-sector layoffs are causing unemployment to stay high, even while the private sector recovers.
The Federal Reserve can create dollars from nothing, and at the moment inflation is apparently a minor concern compared to deflation.
What would happen if the Federal Reserve assumed much or all of the debt of the states? They could pay off the debts ex nihilo at a speed of their choosing, while allowing the states to create or save jobs. They could also simply grant money to those states that have relatively little debt. Does anything like this happen, and should it? [Not an economist]
Original text: Can and should the Federal Reserve assume public debts to stimulate the economy?
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How to find out about a possible County Court Judgement?
How to find out about a possible County Court Judgement? It’s possible that there is a County Court Judgement entered against my name over a debt. According to this page «Most entries stay on the Register for six full years». The matter in question is over a decade old, and I haven’t been in the UK for over a decade.
So, a few related questions:
How would I go about determining if such a judgement exists?
If it does exist, could I expect this to hamper the renewal of my UK passport?
If it does exist, could I expect this to hamper my entry into the UK?
If it does exist, could I expect this to hamper my employment in the UK?
(You Are Not My Solicitor)
Original text: How to find out about a possible County Court Judgement?
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I-thought-this-would-never-happen-to-me-filter: Got laid off and I’m up the creek finance-wise
Short-term contract position was cut off much shorter than expected, and now I don’t have enough money to last to the end of next week. What can I do? [Trying not to sound like a whiner, but honestly I've never had to deal with anything of this magnitude before!] I’m glutted with student loans (can’t think of the actual amount right now) and CC debt (around $30K). My private student loans are in repayment and I’ve used up the forbearance times on them. Called student loan company and they say there’s nothing they can do on their end. I’m worried I may get the same reaction from my CC companies.
Still trying to file for unemployment in my state (PA), but that could take weeks until I see a check from them. I’m considering consolidation for both loans and CCs but I don’t know if that will sufficiently delay repayment times or if I’ll have to pay up-front fees. I know it’ll affect my credit score, but options are slim (assuming I even have any.) I’ll be canceling my health insurance as well as other things, and will see if there’s any freelance work I can do in the meantime.
I’m assuming there are others who have undergone this so I’d like to ask how you managed. How are things going for you currently? I don’t have a spouse to lean back on, and «friends» and family don’t care that I may be living in my car soon. At least I don’t need to make payments on *that*…. I’m really confused by this whole process and feel betrayed by work – I had my dream job for all of three weeks until I was displaced by a senior-level person.
Please email me with suggestions and ideas, or even to share your stories if you don’t want to post them on AskMeFi: merchantofmalice[at-ta]gmail.com
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- Pay off my student loans or make a large downpayment on a home?
- Twice-Consolidated Student Loans?
- Some advice, and a shovel, would be handy (re: student loans)
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- How can I acquire a student loan when my school does not offer any help or participation with them?
BSP cuts external debt ceiling for this year due to lower requirements
BSP cuts foreign debt ceiling for this year due to lower requirements
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP), the annual ceiling for external debt of public and private foreign loans this year will be lower due to an expected decline in demand for foreign loans. The foreign debt ceiling, which is 12700000000 $ words collected in January 2010, are cut at 10 billion U.S. dollars this year. «The ceiling is anyway never BSP is injured …
more to Read «http://www.mb.com.ph/articles/301066/bsp-cuts-external-debt-ceiling-year-due-lower-requirementshttp://www.asiaone.com/Business/News/Story/A1Story20110127-260728.html»> AsiaOne
As debt rises to confront not Obama, Congress he
WASHINGTON (MCT) – New data Friday projects a record budget deficit this year and rising public debt to a level rarely seen since the end of the Second World War.
Read Newton Daily News
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John Cummuta Transforming Debt into Wealth LIVE SEMINAR
Debt on eBay:
The Fat-Free Junk Food Cookbook: 100 Recipes of Guilt-F | US $16.69 End Date: Sunday May-20-2012 6:33:45 PDT Buy It Now for only: US $16.69 Buy it now | Add to watch list |
NEW Let It Go: Come Home from Your Guilt Trip - Atteber
 | US $8.38 End Date: Sunday May-20-2012 6:44:40 PDT Buy It Now for only: US $8.38 Buy it now | Add to watch list |
Coping With... Guilt NEW by Jimmie A. Ellis
 | US $12.46 End Date: Sunday May-20-2012 6:53:32 PDT Buy It Now for only: US $12.46 Buy it now | Add to watch list |
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Debt-Proof Your Marriage: How to Achieve Financial Harm
Debt
eBay auctions should keep in mind:
1995 Elliott David James - Actor 'Degree Of Guilt' Press Photo | US $23.88 End Date: Sunday May-20-2012 6:09:19 PDT Buy It Now for only: US $23.88 Buy it now | Add to watch list |
History, Guilt and Habit NEW by Owen Barfield
 | US $30.04 End Date: Sunday May-20-2012 6:23:31 PDT Buy It Now for only: US $30.04 Buy it now | Add to watch list |
History, Guilt and Habit NEW by Owen Barfield
 | US $49.63 End Date: Sunday May-20-2012 6:23:34 PDT Buy It Now for only: US $49.63 Buy it now | Add to watch list |
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Debt of Honor – Tom Clancy HBDJ 1st Printing
Some recent debt auctions on eBay:
NEW Guilt - Lescroart, John T. 9780440222811 | US $5.99 End Date: Sunday May-20-2012 5:21:19 PDT Buy It Now for only: US $5.99 Buy it now | Add to watch list |
Shame & Guilt: Masters of Disguise by Jane Middelton-Moz
 | US $8.50 End Date: Sunday May-20-2012 5:21:34 PDT Buy It Now for only: US $8.50 Buy it now | Add to watch list |
Guilt by Degrees NEW by Marcia Clark
 | US $26.44 End Date: Sunday May-20-2012 5:49:16 PDT Buy It Now for only: US $26.44 Buy it now | Add to watch list |
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