Help Debts

Posts Tagged ‘thanks in advance’

i’m wondering which, if any, of my debts i should pay off with my 401k money. i have a one-time penalty-free withdrawal, and i would like to make the most of it. based on my debts, am i better off investing the 401k and letting it grow, or using it to pay off some/all of my debts?

ASSET
401k money- ,000 (minus whatever taxes will be taken out when i withdraw, this is what i have to play with)

DEBT
,000 promissary note (interest free) to pay off over 20 years (5/month)
00 credit card (currently on a promotional 0% interest rate)
00 credit card (6.9% interest)
00 student loan (2.5% interest)

so, my debt is mostly low-interest or interest-free, and i’m wondering how to handle using the 401k money…

pay some of it off, invest the rest?

pay all of it off, invest the rest?

continue making monthly payment, and invest the entire 401k?

thanks in advance!
i got divorced and was told i had a one-time opportunity to take out some money. was this incorrect information?

When filing for the distribution of a will in probate court, are debts also included in the personal estate value? For instance if a person dies with a personal estate value of 0,000; but has a credit debt of ,000, is her estate now worth 7,000? or are her debts not even considered? Thanks in advance for your help!

I have a few questions about credit reports and how to handle certain blemishes.

The first situation is that I have two collection accounts with a combined total of 2. One is from 07 and the other from 08. Should I go ahead and pay these off? Should I send a debt validation letter? Or should I just ignore them? My husband and I would like to purchase a home next summer and I want my credit score up as much as possible, but I have heard that paying off the debts can actually hurt your credit because the "date reported" date changes to a a current date. Is this true?

The second situation is what I believe to be a duplicate account listed on both mine and my husband’s credit report. It is from an account that was included in our Chapter 13 bankruptcy. There is a listing from the original creditor and then a seperate listing for what I assume is a collection agency called MBC INV for the same amount that was first reported 9/30/09 – two month before our bankruptcy was discharged. Is this legal? To send an account that is included in a bankruptcy to a collection agency? Can I get rid of this account?

Thanks in advance!

I have been dealing with a company called Creditors Interchange about a past credit card debt that I have accumulated. They have contacted my father at his unlisted home phone number when I failed to call them back right away after our first conversation. To my knowledge it is illegal for them to contact anyone else if they have already established contact with me and know how to get in touch with me. Also, after setting up a payment arrangement with them, they would send me a letter prior to the withdrawal from my checking account every month stating "If we do not hear from you before the above mentioned date your check will be processed as agreed. Please call us at the toll free number listed below if any change is necessary regarding the above arrangement." Well this last month, after recieving this letter I realized that I did not have the funds in my bank to allow this transaction to go through, so I contacted CI 3-4 times before the agreed date, but never recieved a return phone call until the day the payment already went through. Later that day I recieved a call back saying that it was too late to stop the payment and I was out of luck. Since the funds were not in my bank, the check bounced. Even worse, after this check bounced, they tried withdrawaling this amount twice more. Is this legal? Does anyone have experience in this matter that can give me some sort of advice? Thanks in advance!

I had went to court a few months ago regarding a Dental bill that I was over charged for. My Lawyer sent an asst Lawyer w/me for that hearing. The next time he would not let the Asst come back, but he forgot and I ended up in court by myself. I got some of the charges reduced I went back to my Lawyer and he told me to appeal. The next court date, my Lawyer showed(late) didn’t bother asking any questions the Lawyer for the other side showed him a paper that everybody signs to state you will pay any remaining balance after insurance. The Lawyer pulled out the same piece of paper during the 2nd hearing and was told to put it away as it didn’t free his client from any wrong doings. Had my Lawyer been there he would have saw this, my Lawyer just put his hands up and said "OK she owes the money" now I owe the money and the other sides Lawyer fees!!

I tried pointing out what happened when he didn’t show up, if I would have known he was going to just give in, I would not have appealed what was the point of getting myself deeper in debt. Do I think I don’t owe the bill, yes I do. I do but not what they stated that’s all the fight was about. Now they have sent a judgment here and my Lawyer would not even help me fill out. I’m really angry and scared now. I did not sign the paper from court and I told the Judge I did not agree w/whatever crap my Lawyer and the dip stick from the other side had came to agreement about. Any suggestions from any good legal people out there? Remember I do owe the bill, I’m not saying I don’t. Any advice would be helpful from real people! By the way hopefully you all understand as you can only put so much here. Thanks in advance for any good advice you can give.

PS Trust me I will be looking for another Lawyer for the future.

could i ask for some advice please?i took out a loan some years ago,which i defaulted on;i currently owe £2000 which is been repayed at £20 per month.there is no interest being accrued and it was removed from my credit report in march as i defaulted over 6 years ago!should i continue with this arrangement for the next 100 months or should i make an offer of a sum to wipe out this debt?when i last spoke to the company they said they would accept £1500 and cancel the loan,this seemed like a good deal, but i declined as i figured this was not the best deal i could do.i am hoping there is a mathematician who could let me know the optimum amount i should offer to clear this debt.since they are prepared to accept 3/4 of the debt.i was wondering if i could squeeze them down to 1/2 or even less.which costs me less ?an interest free loan over 100 months or a lump sum now?thanks in advance.

Thanks in advance for your thought and time.

I am a Freshman in college who is financially dependent on his borderline mother. My mnother has been diagnosed with borderline personality disorder, but she will not take medication– nothing is wrong with her in her mind. Half the time she loves me and the other half the time she hates me– usually when I am successful. She physically abused me when I was a very young child, and shows just about all the symptoms for borderline. The psychiatrist says that she is an extreme case.

Unfortunately, I am a pre-med student in college who is dependent on her for money. Surprisingly my mother has a well paying job, though noone ever understood how she holds down a job paying triple figures. Because I am applying to medical school, I cannot afford to take on too much debt in undergrad. Thus, I would be very afraid of severing ties with her. While it would be emotionally cleansing to get away from her influence, I feel that I will incur too much debt if I do both undergrad and med school entirely on my own. Additionally, my father left me when I was younger so I don’t have his support financially or fraternally.

I want to know how I can endure my mother for these 4 years until I am free. She makes me cry all the time, but I really need the money to get through school and into med. I know they say to enforce boundaries and all, but if I try to do that she tells me well if I don’t do exactly what she says then she’s pulling the finances and leaving me dry for college. She will often rip me apart and then come back and tell me that I have to apologize to her or else– which means she won’t pay for college. She is extremely controlling and manipulative, and I have to fight so hard to maintain a healthy view of reality by not being sucked into her delusional thoughts. I am not complaining here. In fact, I understand a lot of people have it much worse than I do and even that a lot of other people have had borderline parents. That is why I turn to you for advice. How can I transfer the responsibility back to my mom? How can I endure her borderline qualities without getting sucked in? Has anyone else been in a situation similar to this?

I just wish that I could break free, but I am tied to her like a ball and chain.