Question #1:

What are the guidelines for debt collections?

I have an outstanding debt of ~$100 from 2007. I have been sent to collections once (without notice), and recently they refused my payment of $1. Unfortunately, with school loans and a teachers salary and a household to feed, cloth and provide for; this is all I can afford. Additionally, these are debts, not credit lines. I am not contracted to a minimum monthly payment. They have accepted the payments. They just want more.
What are the guidelines to which they can hit my credit (i.e. delinquent 'x' amount of days, refusal of communication, minimum payments)?

I feel stuck. If I don't pay, they send me to collections. If I do pay, they send me to collections. Not much incentive for me to care anymore. BTW debt collectors are nasty humans, so this has turned into an emotionally devastating set of events. My home life, personal health and professional career have all suffered due to these events and I feel that I am doing my best.

Please list any federal statues which protect the consumer.
I am trying my very best. I didn't expect a $20,000 bill from cancer treatment facility to be immediately followed by another $10,000 bill from the doctor seeing me. My insurance handled most of the paper work, so I was unaware until I found the debt on my credit report. I immediately took action, but due to my circumstances in life, I can only afford what I can afford.

Here's the issue. I am 27 and a recent graduate. I am poor and have no hobbies, vices or luxuries. The fact that I don't have the money to pay this off would inherantly imply that medical services are only for the rich, but if the impoverish wish to be well, they deserve to be harrassed. I suppose that this is the reason behind Health Care Reform.

Question #2:

Are my courses too Arts-Centered if I want to go for a science degree?

Hey :) So I'm Rachael I'm 13 and I started grade 10 today, I'm home schooled, and already have all my courses for grade 11 & 12 planned. Are they too arts centered if I want to go for a science degree after school (hoping to a double major B.A. and B.Sc. and then go on to get a M.Ed.) or is it fairly well rounded?

Grade 9
Biology (9)
Algebra I (9-11)
Modern History (9)
Themes in Literature (9)

Grade 10
Chemistry (10)
Plane Geometry (10-11)
Algebra II (10-11)
Grammar and Composition IV (10)
World Literature (10)
Around the World in 180 Days (9-12)
Bible Doctrines (10)
Vocabulary Spelling Poetry IV (10)
Revelation* (12)

Grade 11
Physics
Grammar and Composition V (11)
English Literature (12)
American Literature (11)
Vocabulary Spelling V (11)
Economics* (12)
Genesis* (12)
Pre-Calculus (12-)

Grade 12
Grammar and Composition VI (12)
Vocabulary (12)
Consumer Mathematics (9-12)
Business Mathematics (10-12)
College Level English (Correspondence with local university)
College Level Biology (Correspondence with local university OR advanced home school curriculum)
College Level Chemistry (advanced Home school curriculum)
oh and the (10-12) kinda stuff is the grade level of each course :)

I've also been taking acting class for 4 years and have been in the Advanced Company for 2 years, and I've been taking singing lessons for 3 years I take official music exams (Royal Conservatory) for theory and singing, and in grade 12 will be taking Music History, and Harmony exams.(they count as fine arts credits for public high school students in my province) and compete in my provincial music festival. also, my dad is a graphic design artist and I do a lot of that, I'm almost at a professional level.
thanks for your help!
xoxo Rachael Marie

Question #3:

This promises to be the worst labor day...?

THIS promises to be the worst Labor Day in the memory of most Americans. Organized labor is down to about 7 percent of the private work force. Members of non-organized labor — most of the rest of us — are unemployed, underemployed or underwater. The Labor Department reported on Friday that just 67,000 new private-sector jobs were created in August, while at least 125,000 are needed to keep up with the growth of the potential work force.

The national economy isn’t escaping the gravitational pull of the Great Recession. None of the standard booster rockets are working: near-zero short-term interest rates from the Fed, almost record-low borrowing costs in the bond market, a giant stimulus package and tax credits for small businesses that hire the long-term unemployed have all failed to do enough.

That’s because the real problem has to do with the structure of the economy, not the business cycle. No booster rocket can work unless consumers are able, at some point, to keep the economy moving on their own. But consumers no longer have the purchasing power to buy the goods and services they produce as workers; for some time now, their means haven’t kept up with what the growing economy could and should have been able to provide them.

This crisis began decades ago when a new wave of technology — things like satellite communications, container ships, computers and eventually the Internet — made it cheaper for American employers to use low-wage labor abroad or labor-replacing software here at home than to continue paying the typical worker a middle-class wage. Even though the American economy kept growing, hourly wages flattened. The median male worker earns less today, adjusted for inflation, than he did 30 years ago.

But for years American families kept spending as if their incomes were keeping pace with overall economic growth. And their spending fueled continued growth. How did families manage this trick? First, women streamed into the paid work force. By the late 1990s, more than 60 percent of mothers with young children worked outside the home (in 1966, only 24 percent did).

Second, everyone put in more hours. What families didn’t receive in wage increases they made up for in work increases. By the mid-2000s, the typical male worker was putting in roughly 100 hours more each year than two decades before, and the typical female worker about 200 hours more.

When American families couldn’t squeeze any more income out of these two coping mechanisms, they embarked on a third: going ever deeper into debt. This seemed painless — as long as home prices were soaring. From 2002 to 2007, American households extracted $2.3 trillion from their homes.

Eventually, of course, the debt bubble burst — and with it, the last coping mechanism. Now we’re left to deal with the underlying problem that we’ve avoided for decades. Even if nearly everyone was employed, the vast middle class still wouldn’t have enough money to buy what the economy is capable of producing.

Where have all the economic gains gone? Mostly to the top. The economists Emmanuel Saez and Thomas Piketty examined tax returns from 1913 to 2008. They discovered an interesting pattern. In the late 1970s, the richest 1 percent of American families took in about 9 percent of the nation’s total income; by 2007, the top 1 percent took in 23.5 percent of total income.

It’s no coincidence that the last time income was this concentrated was in 1928. I do not mean to suggest that such astonishing consolidations of income at the top directly cause sharp economic declines. The connection is more subtle.

The rich spend a much smaller proportion of their incomes than the rest of us. So when they get a disproportionate share of total income, the economy is robbed of the demand it needs to keep growing and creating jobs.

What’s more, the rich don’t necessarily invest their earnings and savings in the American economy; they send them anywhere around the globe where they’ll summon the highest returns — sometimes that’s here, but often it’s the Cayman Islands, China or elsewhere. The rich also put their money into assets most likely to attract other big investors (commodities, stocks, dot-coms or real estate), which can become wildly inflated as a result.

...

Source:

Click Here

Your thoughts?

Question #4:

Website won't honour guarantee. Can I get Visa to chargeback?

I joined a stock-related membership site based in the UK two weeks ago. Although there is nothing fundamentally wrong with the service, it really wasn't working for me. I contacted the site and requested a refund, as their site states "100% Satisfaction Guarantee". To be fair, the site also states that if you can show that the product wasn't going to make you financially independent by showing what trades you took, then they'd give the money back.

I hardly took any trades, because in the two weeks I was a member of their site they offered only a handful, and most of those lost money. Luckily I was only using a demo account.

I received an email back from their support saying that their guarantee is not unconditional. When I replied stating that their terms are subjective at best and that they state on their site that they offer a 100% satisfaction guarantee they failed to write back, as of yet anyway.

I contacted Visa and they said that because it's a satisfaction issue that they wouldn't do anything about it. That seems extremely unfair to the consumer - I use a credit card for purchase protection, yet any business can go back on their guarantee without repercussions? Was it simply the representative I was talking to, or does this sound like general RBC Visa policy? Should I push the issue with RBC Visa, or just take my lumps?

Question #5:

what is so excited about consumer credit service?

what is the benefit using consumer credit service

Question #6:

choosing non profit vs profit consumer credit?

what is the different, advantage disadvantage?

Question #7:

Why aren't Conservatives for small businesses?

Obama: GOP should let small business bill through

By JULIE PACE, Associated Press Writer


WASHINGTON – President Barack Obama exhorted Congress on Monday to make passing a long-languishing small business aid package its first order of business when it returns next month from its summer break.

"I ask Senate Republicans to drop the blockade," Obama said in the Rose Garden after meeting with his economic advisers.

Acknowledging that the economy still remains extremely fragile, the president said he'd also have other specific ideas in the days ahead.

He mentioned extending Bush tax cuts due to expire this year for households making under $250,000 a year, upping the nation's investment in clean energy, rebuilding more roads and highways and tax cuts designed to keep jobs in the U.S.

"My economic team is hard at work identifying additional measures that could make a difference in both promoting growth and hiring in the short term and increasing our economy's competitiveness in the long term," he said.

In a week likely to be dominated by foreign policy, Obama is trying to show he's still minding the economy after his 10-day vacation in Martha's Vineyard.

A string of weak economic reports in recent weeks has fed fears that the economy would fall back into recession, only slightly offset by Monday's government report that consumer spending had increased in July after four down months.

"Every single day, I'm pushing this economy forward, repairing the damage that's been done to the middle class over the past decade and promoting the growth we need to get out people back to work," Obama said in his statement.

Obama said action on the package of small business tax cuts and credit incentives is "one thing we know that we should do" as soon as possible. Republicans have been blocking the bill, calling it misguided.

However, Obama said it was being "held up by a partisan minority that won't even let it get to a vote."

"The bill is fully paid for. And there's no reason to block it besides pure partisan politics," he said.
Anyone ever hear of the filibuster? The Republican Senators sure have.
"Republicans have previously blocked a vote on the bill for, among other reasons, concerns that Democrats wouldn't allow votes on individual amendments."

Question #8:

HELP WITH CONSUMER MATH / FINANCE ?? HELP PLEASE??!!!?

I've read the lesson like three times. I can't find the answers. Can you?


1. What are the results of having a poor credit score?
lower interest rates
higher credit limits
lower gross pay
none of the above


2. Interest rates on a longer loan are lower than interest rates on a shorter loan.
True
False


3. On average, compared to a person with good credit a person with poor credit will pay ________________ for insurance?
5% to 10% more
10 to 15% less
20% to 50% more
25% to 40% more


4. What does a FICO® score represent?
outstanding debt
income of debt ratio
creditworthiness
length of credit history


5. Having a high credit score leaves more realized income for what?
luxuriess
savings
debt repayment
all of the above


6. How long does it take to rebuild your credit history?
8 years
7 years
9 years
30 years


7. From a bank’s perspective, a person with poor credit represents more ______ to default.
risk
interest
collateral
guarator


8. How many monthly payments are there in a 30-year loan?
30
365
360
100


9. People with poor credit tend to file more insurance claims, and thus cost the insurance companies more money.
True
False


10. When you have no credit the credit card companies do what?
assume you have excellent credit
assume you have poor credit
offer you a low introductory interest rate
offer you a balance-transfer card

Question #9:

how Consumer Credit Counseling Service works?

how do they help us?

Question #10:

non profit Consumer Credit Debt Consolidation?

any recommend that you trust?

Question #11:

do you use consumer credit counselors service?

are they really help you out of your debt?

Question #12:

Is taking a company to court that will file bankruptcy worth it?

A LLC in Pennsylvania owes us $3800.00 and we were debating taking them to small claims court (district magistrate). I am 99% confident that we would win. However, it is likely that the LLC is going to file bankruptcy. My questions are:

(1) Will the bankruptcy vacate/eliminate the judgment?
(2) Will the judgment show up on the owners credit report or are they protected due to the LLC nature of their business?

My concern is wasting the filing fees to win the judgment only to get NOTHING in return. I obviously want paid back, but in the absence of that I would at least like this to be on their credit report but I'm not sure how much the LLC protects the individual owners. If they are abandoning the business, what protects us as consumers?

Any thoughts?

THANK YOU in advance for any advice/info!

Question #13:

things to consider when choosing consumer credit counseling agency?



Question #14:

how do you find a good consumer credit counselor?

a good and trusted counselor.

Question #15:

anybody else get ripped off by fake credit card site?

i bought a mastercard gift card at the local grocery store--it's impossible to find 'www.mastercardgiftcard123.com" that is on the package. so, like an impatient dummy, i settled for "manage your gift card---log in" for mastercard gift card search. their address: www.consumer card acess.com

this site lets you use about half of your gift card money---so you think there's a glitch at the buying site or with mastercard, and then you (me) goes out for a second mastercard and goes back to this fake site to make sure your online credit isn't ruined by cancelling some purchase.

i bought some stuff off ebay and amazon, but the final dollars and final purchase on card wasn't enough, so i bought a second card so my ebay/amazon buying account not ruined.

stupid me and a smart rip-off fake mastercard site, that only rips off a few of your gift card dollars---i wonder if others thought there was a glitch at mastercard when they used their gift card, and were unaware they were actually on a fake site that took some of their money.

Question #16:

Anyone take Consumer Math?

I got $725.25 and I want to know if my answer is right for this question-- You purchase a new car for $19,725.00 plus 4.75% sales tax. The down payment is $2,175.00 and you have an average credit rating. How much interest is accrued after the first month?

Question #17:

Math Question...HELP?

In 1994, outstanding consumer credit held by commercial banks was about $463 billion. By 1996, this amount had grown to $529 billion.

a) If x represents the year and y represents the amount of credit, find the average annual increase in the amount of outstanding consumer credit.
b) Write an equation to model the annual change in credit.

Question #18:

What can consumer credit assistance do?



Question #19:

CC company calls multiple times during the day and leaves no message...?

Is this considered Harassment under the THE FAIR DEBT COLLECTION PRACTICES ACT???

Click Here

If so, what kind of leverage do I have to negotiate the debt I owe them? I want to make a one-time discounted payment.
(6) Except as provided in section 804, the placement of telephone calls without meaningful disclosure of the caller’s identity.
I am not going to mail them a letter to stop calling. My beef isn't with them calling, my beef is them calling and not leaving a message. I will call them today and negotiate my debt. Either they negotiate my debt so I can give them a one-time payment or they don't get anything at all. My work is cutting down my hours.

Question #20:

What should I do about underwater home - mortgages?

I live in SW Florida where I owe $335,000 for a house surrounded by homes forecloure specialists are enjoying profits from selling at $125,000 (in much better condition than mine), and at least another thousand brand new unoccupied homes nearby. Flood insurance just became mandatory and rates went up.
I bought in '06, it was the best I could get then, but in very poor shape compared to the quality of currently available homes. It would take another $20,000 just to make it marketable to sell for $125,000.
In '06 I had to have two loans on teacher pay, did not have enough reserves for a down payment, assumed value would continue escalating and would refinance/consolidate both loans, with increased equity in a few years, and live here another ten years, retire and go home and live in Texas in a modest, low cost home, for the rest of my life.
Disaster struck.
I modified loan 1 (SAXON) under HAMP - that one payment is 31% of my gross income - one of my 2 "take home" paychecks a month.
I modified Loan 2 ($65,000 balance) directly with OCWEN, who only gave me a reduced rate (14% TO 2%) for 5 years.
My entire 2nd paycheck is that payment, utilities, food, clothes, car, gas, credit cards, student loans, and other living expenses.
I live hand to mouth and see now that I will never be able to retire/sell this house/move home, etc.
I didn't want to get rich, but I didn't expect to pay every dime I make for the rest of my life for basic living because of what I perceive as a national financial disaster - obviously not just a "natural real estate cycle" - evolving from poor economic planning and oversight on the part of the politicians who have been paid by my taxes from my hard work for the last 35 years to assure my (at least basic) quality of life - for life.
Ethics?
It is hard to specify ethical boundaries under such extreme, outlying conditions.
I do know one thing about this crisis:
Ethcial boundaries were crossed at every stage, by many people, over many years.
The argument for the end consumer to suffer - in such an exaggerated way - in order to affirm their ethics - seems profoundly hypocritical.
On the other hand, I am still here, paying my mortgage, even though every other homeowner who purchased a home in this HOA between '05 and '08 has walked away, so I AM demonstrating ethics.

My question is, "What would you do?"

I wish I could put up a poll and ask every expert what they would do.
Walk away entirely? What then... ? Rent for life...?
Stop paying 2nd lien? What then...? Credit ruined...for how long...? What else....?
Swallow and pay every dime they earn to live a restricted (since '06: never go out, no travel, no vacations, no gift giving at holidays, drive old cars, buy used clothes, etc.) life for the next ten or fifteen years, fearing job loss or pay cut daily, only to find out at retirement that I have to walk away from it then, can't sell it, perhaps have to file bankruptcy, then, and live in government housing for my retirement...?
That seems awfully bleak.
I make too much, they say, to file bankruptcy. hmmm...what would you do?
Thanks for any wisdom you could share.
Synthia





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