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We are Drowning in Debt in South Africa

We are Drowning in Debt in South Africa For more discussions with regards to the Equal Money System visit – http://eqafe.com/p/what-the-faq-is-equal-money-sy…
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War veteran drowning in debt

A 93-year-old World War II veteran has been sent a 00 water bill, and though his family’s told the provider, they say it’s not their problem.
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Are You Drowning In Debt?

It’s helping to know if you are just going for a swim, treading water or drowning in debt. We talk about the symptoms and solutions no matter how serious you…
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Are you drowning in credit card debt?

Question by Joni B. show is over: Are you drowning in credit card debt?

Best answer:

Answer by fidgetyfingers
Thankfully, no!

Add your own answer in the comments!

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Drowning in Debt

Robert’s faced many stubborn owners before, but he may have met his match.

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Huge debt burden?

Question by nomoredrama: Huge debt burden?
I am about to graduate with a bachelor’s in finance from a pretty good school but I’ve racked up about 70k worth of debt. I’ve estimated that my starting salary will only be about 45k-50k. Is there anyone else out there in the same predicament? How are you handling this? What’s my best path to relieve myself of this burden? Also, I would like to go to graduate school someday but I’m afraid if I add that on top of my current debt I’ll drown.

Best answer:

Answer by Anonymousgirl
Oh I’m in your boat. I think right now what you need to consider are a few options.

1. Consider getting your loans consolidated. If you loans were all from federal aid, it’s possible to get them all lumped into one loan with a better interest rate, and then make a payment plan with them.

2. If you have private loans, consider consolidating them as well if possible.

3. Start looking for cheap housing. Free up as much money as possible before you graduate. If you look into renting for 300-400 a month, all utilities included, you’ll be able to set up a budget every month to determine what is needed for bills/necessities, savings, and loan payments.

4. Work a couple of years before going to grad school. That’s what I’m doing. In fact (this is a very important part) so many people fly straight into grad school incurring more debt that they fail to realize that there are some employers who will PAY for you to go to grad school. As long as you are okay with going to the school they pick, they pay for your tuition, fees, and books (as long as your grades are high). During this time, they may ask that you work there for 1 0r 2 years before going to grad school.

What I am going to be doing is working a lot before I graduate and save. I’m already putting in money into a savings every month to help pay for my loans 2 years from now when the first bill comes. I’ve also cut my expenses down by getting a job that is closer to home (cuts on gas), I pay less in rent, and I got a higher paying job. All of those things allowed me to save on 350 every month.

Also, consider sitting down with a financial advisor who will do a free consultation. Explain your concerns and then you’ll be able to come up with a reasonable plan to help pay off your loans in 5-7 years (yes it IS possible) and still save money. Talk to your loan companies and see if they will be willing to work with you as well.

What do you think? Answer below!

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Debt collection scam?

Question by intellectual dude: Debt collection scam?
I used to have a lot of debts so I took a break from my college career to work and deal with all those debts, so in 2004 I got a job and in 2005 I paid all the debt collection agencies to settle my accounts and all the phone calls and mailings stopped.

Then this year from out of the blue, I got two letters from two different debt collecting agencies asking me if I wanted to settle. I thought this can’t be right because I already settled all my debts in 2005. Why am I being contacted now, when everything was quiet since 2005 when I settled all my debts? Is this a scam?
One is for a bank account, another for a store card.

Best answer:

Answer by redhairedmama75
For starters are you 100% sure that everything was settled?

You didn’t forget anything?

Give your answer to this question below!

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drowning in education debt?

Question by Jenny: drowning in education debt?
I am a 25yo in Philadelphia, PA. I make 80k/ year. I paid for all of my education on my own and I owe almost 200K in student loans (yes, I worked through most of college and I chose to go to private schools.) My monthly payments are around $ 1300/mo and I am barely paying down my principal, I am barely saving anything for retirement (about 2% into a 401K), I am trying to get married and buy a house this year with my fiancee’ for the tax credit. Any tips on what to do with the student loans? I tried to consolidate, but it seems as if NO companies will do that anymore for private loans, which make up about 2/3 of my education debt. I don’t understand why someone like myself with excellent credit and a good job can’t consolidate? How do I plan for retirement and start saving? Any advice will be greatly appreciated. THANKS!

Best answer:

Answer by my underwear
Man, you sure got a plate full. Start paying off bills and saving money

Know better? Leave your own answer in the comments!

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Question by : Aren’t you worried that Obamacare will drown the USA in debt?
They national debt as of right now sucks.

The CBO (Congressional Budget Office) has estimated that over a 10 year span the bill will cost roughly around $ 1.2 trillion dollars, with money that we DON’T HAVE. Our children, grandchildren, and great grandchildren will suffer the consequences of having to pay back this bill. So is it really worth it?

Best answer:

Answer by Festus
I’m sure it will if it is not repealed.

What do you think? Answer below!

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Trying to figure out my debt situation .. ?

Question by Ladybug: Trying to figure out my debt situation .. ?
So, I am trying to consolidate my debt because I am starting to drown in it because of unforseen circumstances.

I have collected all of my credit card balances and a small personal loan balance, but I am confused by the term ‘unsecured’ debt. Would that mean my car loan as well ?

So say I have $ 500 worth of credit card and a car loan for $ 1000. Would my total unsecured debt amount be $ 1500 ?

Thanks !
And no. Those aren’t the real amounts – I wish !

Best answer:

Answer by snowmommie
Unsecured debt usually pertains to just Credit Cards and not car loans. Meaning, if you default on your Credit Cards, there is nothing tangible that they can take from you. Although, most credit card companies will write it off as bad debt and sell your bad debt to a collection agency. Theyt will try and get a judgment against you. But technically, with a CC there is nothing for them to come take. Now, your car loan is a secured debt meaning if you don’t pay, they will repossess the vehicle. On a home, it works the same. You default, they take your house. Hope this helps.

Give your answer to this question below!

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