Jefferson County sewer debt reckoning imminent al.com (blog)
BIRMINGHAM, Alabama -- Two Jefferson County commissioners and a nationally known bankruptcy lawyer met with members of Gov. Robert Bentley's staff Friday to discuss the possibility of major announcements next week if county officials and sewer system creditors can't reach a negotiated settlement to a $3.2 billion debt crisis.Commission President David Carrington and Commissioner Joe Knight met with state Finance Director David Perry and other members of the governor's staff as next Friday's deadline approaches for a negotiated settlement between the county and creditors.
"I am prepared to take whatever steps are deemed necessary to position us to file a Chapter 9 bankruptcy if we're unable to reach a satisfactory settlement or an extension of the standstill on or before next Friday," Carrington said, after meeting with state officials.
The County Commission made a settlement offer to creditors last week but had not received a response as of Friday. The commission
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What is better,bankruptcy, debt consolidation or debt settlement?
Bankruptcy and Settlements both show up on your credit report for a good seven years and though settlements dont look as bad as a bankruptcy, they certainly don't look good. A debt consolidation loan is nothing more then another loan, hopefully with a lower interest rate that pays off all of the current bills and gives you one new one. It will not only show all old bills as being payed in full (which is what you want them to show) but it also helps you rebuild your credit as long as you make the payments on time every month. Take it from a former collector.
'debt consolidation' is not a good idea = it means getting a new loan (secured against you house) to pay off your other loans .. this means you could loose your house
Bankruptcy means your creditors get a whatever assets you have .. which may be almost nothing.
Go to Citizens Advise ASAP.
The bankruptcy tag accompanies you for a very long time--almost seven to ten years after your filing for it. This takes away your financial freedom and books you as unreliable in the eyes of creditors.
Before deciding to go for credit card debt consolidation, first find out if it is right for you. Start by totaling all the balances on credit cards and store cards and the APR charged on these balances. Be sure to include any other fees and charges applicable to the balance and even those levied if the balance is nil.
This will let you get an overview of all your debts on one sheet, to let you compare them at a glance. This information will give you a picture of the cost of each debt in terms of interests and charges and will help you in comparing it against the consolidation loan quotes that you will have to get later on to continue the comparison process further.
Asking Loan Quotes From Various Lenders
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I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. I came across this company on NBC News Special Edition.Check it out here:
http://simurl.com/lagjaz
Help needed! Interested in credit experiences after bankruptcy, proposal, debt settlement. Especially Canadian
My credit rating is SO BAD! These are my only options. I have researched the Web to death and want to learn from some real life experiences. Thanks!!
You're going to have a tough go of it for the next few years, but, if you're truly screwed, you might as well bite the bullet instead of digging a bigger hole. My friend's father declared bankruptcy several years ago and now has a home, a car and a credit card. It's hard, but it's not the end of the world.
Kourtnie Donihoo
Debt analyst
The E.D.A. Group
My boy friend is in debt what is his best option debt settlement or declare bankruptcy?
He owes about $12,000 we want to get married when he is debt free. Do you know any reliable settlement companies that are trust worthy? What are the procedures?
He is a full time student and has a job he works full time with minimum wage.
Receiving help from debt reduction services normally helps you avoid
bankruptcy, pay off your debt in full and get your finances under
control. Bankruptcy should be your final choice, and debt reduction
services prefer to help you to eliminate your debt completely, instead
of running from your debt.
- does he have any assets
- does he hold office (policeman, public official, company director)
- who he owes the money to - the state, or private companies/individuals
There are many settlement companies, but they exist to line their own pockets. There are ways of handling this yourself... but without further information, we cannot advise.
www.daveramsey.com
Can your employer terminate you if you file for bankruptcy or possibly debt settlement? Negative to organ?
Am considering debt settlement but afraid that the banking instituion I work for will view it negatively if known with the bad effect it will have on my credit for the next 2-3 years until complete. Can they terminate you for that? Live in Florida, not sure about differences in state, I know Florida can be unique.
I think if you already work for them it probably won't matter, what would reflect negatively is if creditors start calling your work. We had to do something like that years ago, and my employer was never even notified.
The big question is how they'd find out.....
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http://www.bestcreditrates.net
but if you go for a new job it may make it more difficult for you to get it. especially if you work with finances.
I'm in Ohio, but most rules for banks are Federal.
Debt Consolidation - Get Out Of Debt
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How to Hire a Debt Counselor?
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What is Debt Relief?
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Debt Management and Building Wealth
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Bankruptcy vs debt settlement?
I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000.
My husband wants me to file bankruptcy.
Should I continue with the settlement or look into filing bankruptcy?
Thanks
Avoid bankruptcy unless it's a last resort. In this day and age, you may still be responsible for debits you are hoping to eliminate; and the damage to your credit is a disaster for years.
Also, bankruptcy laws have changed drastically, so you have to see if you can qualify for bankruptcy ; check with a lawyer who only does bankruptcy or is noted for bankruptcy as primary focus; again I would avoid the debt consolidation companies , it has been my experience with clients that they are worthless and another waste of money. Carrying large debt and behind in payments affects your credit rating; most people who are behind, their rating is shot already; you would think that payment carries weight but not really; all they see are you low scores and delinquencies for 7 years. Suze says it is better to pay your current accounts first; paying older ones first doesn't change rating much b/c they have been on there for a while.
Hope this helps.
Is Debt Settlement a good alternative to bankruptcy?
Does Debt Settlement restore your credit in fewer years than bankruptcy if your can't afford debt consolidation?
Bankrupcy is the worse of the two by a long shot, it's the last thing to do, you should look for someone to finance you keeping an eye at their rates here's a good place to start from: http://finance.ebookorama.com
Debt settlement or bankruptcy?
Just finished school, and right now i cant pay all my bills, my credit sucks, and not sure what i should do. Is it better to do debt settlement, or bankruptcy, or just like the bills continue to go unpaid until i get a real job and just have the creditor calling me every day?
Never ever go with a debt consolidation company. If you can set up a payment program with the original creditor, I'd go for it. If it's will a collection agency, ask for validation. Get proof the debt is yours and it's the right amount. If you debt is starting to reach the 7yr mark, I would just wait it out. If it's a really large amount of debt, I would go with bankruptcy. I would rather have bankruptcy on my credit report than have debt consolidation program on it.
Can I use a bankruptcy lawyer to do debt settlement?
Negoiate with my creditors?
If he agrees to, sure.
Debt Settlement VS Bankruptcy?
how much better is the debt settlement option for your credit rating? i was considering calling Credit Solutions who claim they can reduce the total amount of debt by 40 to 60%
Well Debt settlement is pretty complicated. Plus they are going to throw in a bunch of fees and hidden charges (so that they get their cake and eat it too) and things of that nature. Depending on how much debt you have its probably going to be a big bill bigger than all of your bills combined even. Bankruptcy is probably easier. You only have to pay once and after its all said it done your bad credit and debt is TOTALLY wiped away with no gimmicks. But when filing bankruptcy MAKE SURE you have a great lawyer and if you have property make sure its protected. Once you file bankruptcy all the companies you know will try their hardest to get their money anyway they can. Whether it be trying to take your land or your valuables. If you have a good lawyer it won't be so scary. I Advise you not to file chapter 13 bankruptcy but Chapter 9 its much easier and less hassle. If you really want to know more about bankruptcy most bankruptcy lawyers have Free consultations. They tell you everything you need to know , the pros the cons, what will happen when you file etc. If you don't like the way bankruptcy sounds try the Debt settlement.
debt settlement or consolidation or bankruptcy, which is best considering?
my credit score is currently around 650 but I am over stretched and just stating to fall behind on bills.
Why do creditors hate to see debt settlement on your credit report (other than the obvious, that you did not pay as agreed) vs. bankruptcy?
Short answer: Probably debt settlement, but it does not work in every case as certain creditors are highly likely to sue. I wrote an two chapters about that in my e-book, including HOW TO DO YOUR OWN DEBT SETTLEMENT and how to determine which debt management service is right for you. Visit www.LearnAboutCredit.com
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Debt Settlement Company FreedomDebt.com Offers Debt Advice ... - PR Web (press release) Debt Settlement Company FreedomDebt.com Offers Debt Advice Aside from bankruptcy and credit counseling is debt settlement. A debt settlement company like FreedomDebt.com contacts creditors and reduces actual debt by |
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Yellowstone Club's money woes traced to 2005 loan - Boston Globe Yellowstone Club's money woes traced to 2005 loan Fast forward to 2009 and the question of where the money went has emerged as a pivotal issue in the Yellowstone Club's high-profile Chapter 11 bankruptcy. |
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PR Web (press release)"The Do-It-Yourself Bailout: How I Reduced My Credit Card Debt Upon visiting a bankruptcy attorney, Golde learned that it was possible to negotiate settlements on his credit card balances, but after extensive research
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Mesa Air Group Reports Fourth Quarter 2008 Revenue and Earnings - PR Newswire (press release) Mesa Air Group Reports Fourth Quarter 2008 Revenue and Earnings Under the terms of the settlement, if the shareholder is able to purchase the "Aloha" name in the upcoming bankruptcy court auction, it will license the 10-K: MESA AIR GROUP INC |
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10KSB: ISA INTERNATIONALE INC The Company received net collections from its distressed debt portfolios of $106164, net after related direct collection costs, for the fiscal year ended |
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