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Archive for December, 2008

Debt Free Living - Is Living Debt Free Even Possible?

Thursday, December 11th, 2008

Warner Carter

Would you like to be living debt free? I am sure for a lot of people getting debt free will not be easy, but you can do it. I know it will be great one day that I do become debt free. It was just too easy to get all those things I didn’t genuinely need but believed I must get.

For a lot of years going way back into the history of this country many more people were debt free, and almost everybody had much less debt. I recall how my parents and their friends talked about having debt. Any amount debt was a serious issue. They did not want to have debt. They understand how it is that a person losses some of his freedom every time he takes debt.

Having debt, carrying debt…The debtor must have his regular fix. It may have been easier in the days when more people kept the same job for many years. Today even good jobs come and go like like the breezes. Can you expect to have the same job you have today 5 years from

now?

Recently I sold my really nice car. Why? I did it so I could get free of the payment even though I wound up driving a less nice car. The new car has one spiffy accessory, it is a paid for car. Living Debt Free is about freedom. Fredom from oweing and oweing and oweing.

You may have to make some sacrafices to enjoy debt free living. In the long run the peace of mind and freedom you will gain will be more satisfying.

One Christmas I recal us kids getting a big gift for all of us. Funny thing I don’t remember what it was becasue the day we got it my brothers and I spent some hours playing in the box it came in. I do remember the fun we had.

Try to think how your life could be without all the debt. If you can get a good image of how much less stress you would have that is a good start. Then start working on how to live for less. It is ironic how it is that with less debt stress I don’t feel as much the need to have more stuff.

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Debt Reduction Options

Sunday, December 7th, 2008

Jayme Hanson

One option for reducing your debt is to get a second job. Basically if you do not get another job then you are only going to have the money you are currently earning to pay your debts off as well as your day to day living expenses. This usually makes it impossible to get debt paid off and seriously less likely that you will ever actually be able to save money. If you don’t feel you have the time or energy to devote to a second job, consider working your second job from home; with the Internet, many freelance jobs doing web design and copy writing can be done from home with a high speed Internet connection. If getting a second job is not enough to get you out of debt, then credit counseling is the first tier of debt assistance that can start to make a difference in your life.

Debt Assistance

A one-on-one session with an experienced credit counselor will provide you with resources you need to manage your debt and your finances. With the help of a credit counselor, you will learn how to create a budget - perhaps for the first time in your life - and how to stick to it. You might also learn basic financial management skills. The easiest way to reduce your debt quickly without resorting to debt assistance is to get a second job. Devote your earnings on your second job to getting out of debt. Apply the savings toward the highest interest debt first, then the next highest interest rate, and so forth.

Debt Management

A debt problem may be keeping you from a better life, but there are options out there for those that want to make a change and become debt free. Consumers that allow themselves a limited weekly or monthly allowance tend to find success in taking care of their debt problem. It allows you to be accountable to yourself for what you spend, as long as you remember that you can only spend available extra money that you have. Spending extra money on things that are not needed to survive should only be done depending on what leftover funding is available. Otherwise, you could create more of a debt problem than you started with.

Debt Reduction

Although it may seem useless to even think of a solution to paying your debt when it’s hard enough to make ends meet at the present time, the truth is that you do have options. For instance, if you have been behind in your house payments, you should put house payments as your top priority to avoid foreclosure. Loans with high interest rates should also be on top of your list. If you can consolidate your high interest loans with the rest of your loans with lower interest rates, do so.

In order to get out of debt quickly, you must realize that the first and most important step you must take is to put an end to incurring fresh debts. You have to be strong enough to destroy your credit cards, or if you feel you have the will power to control yourself, at least strategize about how to use the credit card most judiciously.

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How to Reduce Your Repayment Time Frame With Debt Reduction Assistance

Saturday, December 6th, 2008

Lee Beattie

Are your debts growing out of control and your questioning how do I get rid of my financial problems? If you feel like you are being choked by difficult debt such as those high interest rate credit cards, you may need debt reduction assistance in order to settle on your feet and establish a sound program that provides some types of solutions, so you can get to sleep at night. Debt reduction won’t eliminate your debts, only they can supply solutions that offer up relief for your debts to be paid down to a level which is manageable for you to repay without worrying yourself sick.

How To Establish A Repayment Plan With The Right Debt Reduction Techniques

You must recognize that there is a safer plan to settle your debt instead of being submerged by your old debts. You should devote yourself to obtaining the honorable debt management company to help reduce your debts. There are many things to toy with before getting in touch with any companies which claim to provide debt reduction assistance.

Most will offer a one time free consultation which permits the debt management counselor to make up a sound decision based on the financial problems that require to be settled quick and easily. Make sure to get the debt reduction assistance early when paying off those old high interest rate credit cards and undesired debts. Delaying this process can potentially lessen your credit score and perchance make your debts harder to settle.

What Articles Are Needed For Debt Reduction

First Off, you’ll need to accumulate all of your financial information when you are searching to apply for debt reduction assistance with credit counselors and yes this entails even those high interest rate credit card bills and any overdue or any bill that may demand to be included into your monthly budget. A credit counseing company will measure how much you owe each creditor thus they can constitute a plan how to reduce your debts and many times this will be exemplified as one low monthly payment. Your credit score will successively show the positive results when you make your payments on time and too when you eventually pay off those debts.

Debt reduction assistance is functional in cases where your seeking to reduce your debts and help you resolve your financial problems which is how some who acquire such services manage to live a stress free life and afford to nonetheless experience a life that they once desired. If you are searching for help, on that point are many different programs which offer many different debt consolidation methods of help for you to think about simply make sure these companies provide you the adequate information to rid yourself of these debts and establish remarkable financial relief.

How To Reduce Debts and Rid Yourself Of Many A Different Payments

Debt reduction assistance programs can provide crucial solutions to some, by how they set about reducing average monthly payments by as much as seventy percent therefore bettering your credit score in the process. Numerous services furnished depending on the management company will want to render just one payment a month. The powerful debt reduction services choosen early enough can help settle each of those unwanted financial problems by establishing a valuable solution that provides for you to rid yourself of expecting to worry constantly.

Debt reduction assistance programs help debtors to consolidate all of their payments into one low monthly payments rather than handling with each of their creditors individually. A counselor takes on the chore of negotiating with creditors to make up payments through there reduction methods and also can manage this by negotiating the interest rates will be lower likewise many times, only you have to establish your payments on time and your credit score will show too.

Paying off your debts by by yourself could take decades, debt reduction assistance lets you pay off your debts in almost a tenth of this time while letting you to save more to pay other expenses and maybe preserving a quality credit score. With a debt reduction assistance program you can rise out of debt and experience a better handle on your finances.

If you would like more information on this topic and Credit Card Consolidation Loans or if you are in need Debt and Bill Consolidation, Beatlands Credit Repair has many credit repair topics and tips that can be very useful.

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Lucent Technologies: Evaluate asset,debt & equity structure as well as trends & changes on common sz bal sheet?

Friday, December 5th, 2008

Katie

Here are the questions:
2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet.
3. What concerns would investors and creditors have based on only this information?
4. What additional finanacial and non-financial information would investors and creditors need to make investing and lending decisions for Lucent Technologies?

The info:
Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs research and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for our customers, while enabling them to quickly deploy and better manage their networks. Our customer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the products and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching products, which we sometimes refer to as convergence solutions, and voice messaging products), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Beginning in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration included general economic slowdown, network overcapacity, customer bankruptcies, network build-out delays and limited availability of capital. We believe that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is creating the need for a new convergence of networks, technologies and applications. Required 1. Using the Consolidated Balance Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size balance sheet. 2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies? LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in Millions, Except per Share Amounts) September 30, September 30, 2004 2003 Assets Cash and cash equivalents $ 3,379 $ 3,821 Marketable securities 858 686 Receivables 1,359 1,511 Inventories 822 632 Other current assets 1,813 1,213 Total current assets 8,231 7,863 Marketable securities 636 — Property, plant, and equipment, net 1,376 1,593 Prepaid pension costs 5,358 4,659 Goodwill and other acquired intangibles, net 434 188 Other assets 928 1,608 Total assets $ 16,963 $ 15,911 Liabilities Accounts payable $ 872 $ 1,072 Payroll and benefit-related liabilities 1,232 1,080 Debt maturing within one year 1 389 Other current liabilities 2,361 2,393 Total current liabilities 4,466 4,934 Postretirement and postemployment benefit liabilities 4,881 4,669 Pension liabilities 1,874 2,494 Long-term debt 4,837 4,439 Liability to subsidiary trust issuing preferred securities 1,152 1,152 Other liabilities 1,132 1,594 Total liabilities 18,342 19,282 Commitments and contingencies 8.00% redeemable convertible preferred stock — 868 Shareowners’ Deficit Preferred stock—par value $1.00 per share; authorized shares: 250; issued and outstanding: none — — Common stock—par value $.01 per share;Authorized shares: 10,000; 4,396 issued and 4,395 outstanding shares as of September 30, 2004,and 4,170 issued and 4,169 outstanding shares as of September 30, 2003 44 42 Additional paid-in capital 23,005 22,252 Accumulated deficit (20,793) (22,795) Accumulated other comprehensive loss (3,635) (3,738) Total shareowners’ deficit (1,379) (4,239) Total liabilities, redeemable convertible preferred stock and shareowners’ deficit $ 16,963 $ 15911

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I have about 12000 credit card debt. What’s the best debt consolidation, redcution service around? Thanks?

Wednesday, December 3rd, 2008

boisfeu

I have built up about 12000 dollars of debt between the period of college graducation til I found my job about 1.5 years later. Right now since I have pretty stable income, I would like to deal with my debts asap. I am looking for a good debt consolidation/reduction service asap. I have been checking around, there are too many options online. Are they all legit? or There are certain ones would fit my need the best? Thank you. If you have the same experience as me, please share the info so I can go debt free asap!

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Debt Reduction Negotiation-How Does It Work?

Wednesday, December 3rd, 2008

Marjorie Salada

Debt reduction negotiation is a debt relief option that can get you out of debt very quickly, but it is not for everyone. It really depends on how much debt you have and the age of that debt. Debt negotiation is the best method of getting rid of debt that has not had a payment in over six months. It will work for most forms of unsecured debts.

Debt negotiation works by reducing the balances owed on your unsecured debt. There are debt settlement services that can get your debt reduced by more than half in many cases. Most creditors have given up on the idea that they will ever be paid, after more than six months has passed, the debt is charged off. Once this happens, most creditors are willing to settle the account for a considerable amount less than what is actually owed on the debt.

Most debt negotiation companies require at least $7,500 in unsecured debt to become enrolled in their program. These repayment plans are very aggressive and can have you debt free in less than 3 years. While debt settlement reduction can have you out of debt very quickly, it is not for everyone. It is something you should consider, if you are thinking about filing bankruptcy or have not made payments on your accounts in 6 months.

Debt negotiation will negatively affect your credit, but if you have not made payments in six months, your credit report already has negative entries. The best thing you can do is get rid of the debt and then work on repairing your credit. Debt settlement can be used for debt, no matter how old, but there are other options if you are only a few months past due.

Debt settlement is a good alternative to bankruptcy. Many bankruptcies today involve repaying a portion of your debt. A bankruptcy can stay on your credit report for up to ten years, making it a less desirable option. With that being said, people are looking for alternative ways out of debt. Debt negotiation is one of the quickest ways to resolve a large amount of debt.

Start by making a list of what you have outstanding. Be as detailed as possible about how much is owed, when you last made a payment on it and other pertinent details. You may want to get a copy of your credit report to see where you stand. This will list all your debts and give you a good place to start. Armed with this information, it is a good idea to contact a debt reduction company that will analyze your debt and enroll you in a debt management program that will best meet your financial needs.

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Need advice on how to deal with my debt and possible BK?

Tuesday, December 2nd, 2008

Ronald B

I currently have $123,590.93 in total debt. $72,356.07 is student loans and I can’t do anything about that but pay it. $49,561.86 is in lines of credit and credit cards. My MINIMUM monthly payments are about $1400. As of today, I have not missed any payments, but my credit score is pretty bad because I have a Debt to Credit ratio above 85%. As of November, I am no longer going to be able to afford to make my payments. After paying rent, utilities, car insurance and for food, there just isn’t going to be enough left over to cover the minimum payments.

I’d really hate to do it, but I’m seriously considering filing for Chapter 7 to get a fresh start. Yes, I know it will kill my credit rating, but it doesn’t much matter anyway. Identity thieves wouldn’t even want my SSN. I also know that it will stay on my record for 10 years. I’ve gone over all the pros and cons and it looks like I’m going with the bankruptcy. However, has anyone had any success with any of these debt settlement companies? I know they negotiate with my creditors to reduce my balance, close the account and work out a payment plan, but how much will the amount be reduced? Can I realistically expect a 50% reduction in my monthly payment if they reduce my debt by 50%? Is it realistic to expect that this is a viable option as apposed to bankruptcy? If I could somehow get the payments down to $700 or less per month, that would be awesome!

I already called a Credit Counseling Service and they actually recommended I file for bankruptcy, which was odd. So, consolidating into one payment with a reduced interest rate just won’t work. I need to either reduce my debt and payments, or wipe it all out with bankruptcy. I’ve already tried to cut out every possible unnecessary spending and cook all of my meals to keep costs down even more. I’m just tired of living paycheck to paycheck and getting nowhere with my debt. Also, getting a second job is kinda out of the question. I live in Baltimore (to keep costs down) and work in Washington DC. So, with the commute (by train to again, keep costs down) I leave my home at 7am and get home around 7pm. As much as I would love to work during my few hours before going to bed every day, I’m not going to. There’s no point in killing myself with work if I’m just going to make minimum payments and get nowhere with my debt.

Any advice would be greatly appreciated. I’m tired of just treading water and will either sink with the bankruptcy or swim with the debt settlement. Either way, I have to do something about reducing or eliminating my monthly payments and get rid of my debt.

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