WYN asked:


I am in a little over $45,000 credit card debt. I am trying to figure out if it would be better for me to use a consolidation company or to get a home equity loan.

Cassidy S asked:


I am trying to consolidate my credit card debt because the payments are too high each month. If I could get a home loan this would be perfect. I am having difficulty making all the payments and I don’t want to completely ruin my credit. Any reliable consolidation advice would be apprecitated!

m_snider9430 asked:


I am approximately $25k in debt, should I use a debt consolidation agency?

cjt asked:


We currently have a home equity loan and a mortgage, but want to pay off credit card debt. Can we take out a new home equity loan, paying off the current home equity loan and credit card debt which would result in the home equity loan balance being larger than the mortgage balance? There is ample equity in the home to support both. We do not want to refinance to a new mortgage because we are thinking of selling in the next few years and don’t want the expense of closing costs on a new mortgage.

Create a video blog…instantly.

RunsWithKnife asked:


I owe about $12,000 in credit card debt and I wanted to make that my year’s goal to pay it off, but a lot of the websites I find require that you own a home, or charge a huge interest for someone to “negotiate” with your creditors to bring down interest. Does anyone know of a good resource where I can just consolidate the debt and make one reasonable payment?

Content for WordPress

Beijing China Girl asked:


if credit card debt over 40000 and person are 79 year old and now in the nursing home cannot walk and mot doing well’But she still own the house under the reverse mortgages.
Can the collector ‘s lawyer suit for the house?
the person live in FL

Content

boots asked:


I want to know if the law provides for a way to erase credit card debt legally, and if there is a legal way to erase a home mortgage.

Create a video blog…instantly.

Brad M asked:


I currently have around $3,200 in credit card debt, which is a large yet manageable amount. I want to pay this debt off slowly. What is a good timeframe to completely pay off my balance? Is a year or two a good goal or should I be more aggressive?

I know it depends on what I want to do, but I am not sure if having large amounts over time is a bad thing over than the obvious interest accruing.

Content

GeminiStars asked:


Is the Statute of Limitations on credit card debt, determined by the state you currently live in or where the debt originated?

I have a debt that I stopped paying on in Jan 2002. I acquired the debt while living in Texas and stopped paying it while living in Texas. My husband is military so we have lived in Missouri for the past 4 years.

The SOL for TX is 4 years for open accounts (credit cards) and for MO it is 5 years. Either way, the SOL has run out on this debt, however I am still wondering which would apply to us since we are military? We claim TX as our home/residence.

Thanks!
This debt was sold to a debt collector years ago.

I have known others that have written cease and desist letters so I am not so sure that SOL on card debt is a “myth”.

Content for WordPress

LyndseyGetsLucky asked:


I am way in over my head, I have 6 credit cards and I’m over $12,000 in debt. I have tried to take out a loan at the bank to consolidate but i got turned down. I can barely afford the minimun payments and it has ruined my credit. I need HELP!

Create a video blog