sob_125 asked:

I don’t think someone paying off a car, student loan, or house payment, or 6-month auto insurance payment plan ALL AT ONCE is a good idea. And the reason I don’t think it’s a good idea is because SURE, you may not have those monthly debts anymore for the time being, but then what if you don’t keep good money management going and save up like you should?Back in December of 2000, I had $11,000 saved up and I made the bad choice of paying off my 1998 Camaro all at once and I was flat broke just like that. Sure, I had no payments, but I was miserable and distracted and didn’t keep good money management because of it.

For that reason, I think it’s a lot better to keep the debts and have those thousands still saved up in the bank than it is to pay them all off all at once and then be down to just hundreds or dozens saved up.

Do you agree with me now???

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ladee_jayne asked:


My boyfriend and I are now considering our first home. His credit is excellent and he has savings in the bank to cover a deposit. My credit is poor and I have a DMP (debt management plan) running. My total debts are only £4000ish, but will the DMP put lenders off giving us a mortgage?
We both earn a decent wage and work full time?

When they weigh everything up, will the good points (good incomes, deposit saved) outway my poor credit?
Thanks

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Kealagh asked:


I am going through a divorce and my credit is completely demolished. I have entered a debt management program and have paid on time every month for about 4 months.
I have had to move and in addition to the expenses of moving, Washington Mutual put a hold on my cash deposit and bounced my first month’s rent and security deposit checks. I’ve had to pay outrageous fees, and I am looking for a small personal loan to get back on my feet. I have SERIOUSLY bad credit, but I have been at my job for over 2 years.
I am scared of getting ripped off by scammers (Preston Financial group wanted $940 up front wired to them).
(I already tried Project Payday. I wound up losing more than I made.)

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CG Teh asked:


May I request your participation in the above research by providing me(at kaixi1999@yahoo.com) with some insights of your credit management practices in your respective company and industry

a) What are the common credit arrangements on selling and customer ordering practices in your company?

b) What are the current issues in credit management in your company ?

c) Why there are late payments of debts and what influence the credit period taken by the your company ?

d) What is the most Common Payment/Credit Term in your company practice ?

e) Approximately how many debtors do you have and your year end debtors balance ?

f) Principal activity of your company ?

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moonchild13mo asked:


i guess i wasnt spacific enough cuz all these people think i go and waist my money, wrong, i do not eat out, i do not buy stupid shit, i do not have cable or the internet, (this is my moms computer.) i do not eat out, i do not waist money. i buy what i need to survive, like cheap food, and nacessities. the rest goes to my car, utilities, and my mom. the cell phone was a home phone and i had to chose my car over my phone. at the time i was useing it to get a job, so employers could call me. not for pleasure. so put all that aside i need help figuring out what to do about my debt. i cant file bankruptcy cuz i need my car, to work. so dont just assume i am a silly little teenager with money management problems, i just got forced into some things and need help.

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Kelsy A asked:


I drove my car without realising it was out of insurance. cancelled due to cancelled payment.I’m on debt management program,my wife had a new baby,new job for me so things are over my haed past 2 months and like a fool i never thought of the insurance is out of date.Im not giving an excuse but i admit its my foolish mistake.I was stopped by the police and they have taken my details but didint impound the car but he said he will get in touch.I got insurance cover reinstated the very next day and am not trying to avoid punishment for what i have done - just wondering what is likely to happen to me.he didnt call me yet.

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equi_tye asked:


i have a mountain of business and personal debt from my divorce. I’m self employed and have been blessed with the ability to make a good living but money management isn’t my strong point. I can make it, but i cant manage it. Can someone tell me how to budget to get caught up? If i catch up all of my necessary bills, Mortgage, utilities ETC. should i compile all of my arrears budget so much for them and attack them that way?

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ebaycathywilliams asked:


Hi.

We are currently renting a house through reeds rains but the bills are too high ie water rates, coucil tax.

We would like to move to another property when our 6 month tennancy is up that reeds rains have to rent. (if there is one available!)

The thing is I am frightened that we will have to have another credit check.

We are just starting a debt management plan because we are in financial difficulties. This is the reason we want to move as we didn’t realise how much the bills were going to be in a detatched house and I would rather be in a victorain terrace anyway!!

Does anyone know if we will have to go through a credit check again or if the one that they did 3 months ago would still count as we intened to stay with same agent, just different property.

Good luck with understanding all that and please be kind, no harsh comments as I am on the edge here.
We have paid our rent on time but have only been in the property for 3 months.

We have only just started having problems, hubby buried his head in sand and didn’t tell me hoping they would dissapear!!

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STEVE G asked:


i was paying this through a debt management company along with other debts,all the other creditors stopped the intrest and have all now been paid,but this one company didnt stop the intrest so i stopped paying about 5 years ago,had no statements and only one phone call in that time,but have just received a letter saying that they have sold my debt to another firm who are now chasing me to pay,this debt is not on any of the 3 major credit scoring companies ,will i still have to pay even though this defaulted 8 years ago.thanks steve

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UKbruvver asked:


6 years ago I got in to quite a bit of debt and ended up going to a debt management company. I pay them a certain amount of money a month and have been doing this for 6 years. I have another 4 years to go before my debts are cleared. I’ve just been told that my job is being made redundant in 8 weeks time. I will get some redundancy. What should I do? Should I consider bankruptcy or still pay the debt management company? I’m hopeful to be in employment shortly after redundancy but cannot guarantee this.
Thanks for listening guys

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