I am going to payoff my credit cards with my tax refund. I want to finance a car and get an apartment. I know with a low score I will pay alot of security deposit and high interest rate on car loans. I want to know when will my score be updated?
Should I pay the balances off or leave some money?

Strictly hypothetical people so don’t be nasty!

If you were married to a man who made a decent wage, lived in a house that needed some major repairs, didn’t have any savings, everything broke down at the SAME TIME, found out you needed a major surgery your insurance didn’t cover, you didn’t have a job, no one wants to loan you money and all your bills were due, you’ve recently gotten out of bankruptcy, have maxed out your credit cards, had no food in the house for your kids, and no one you know has any extra to help you out, what would you do?
A) Go to the government for help.(try to get food stamps, etc.)
B) Give your kids to Children’s services until you got on your feet.
C) Leave your spouse and try to start over.
D) Sell your body.
E) Give up and live on the streets.
F) Go to your poor church and ask for a handout(even though you haven’t been in years).
G) Let the creditors ruin you and take the bill money and take care of your kids and live in the dark.
The no job thing comes in b/c you have a disability and can’t get assistance b/c they say it can’t be proven.

I’m going through a very difficult financial time in my life because my job of 13 years went bankrupt and I live in the state with the highest unemployment rate and my gf has at least a 750 credit score and 3 credit cards which 2 has zero balance on them of ,500 each and she gives 0 a month to her own church and she does not even go to any more. I asked her for a small loan of 0 and I’m making small payments back to her, last week I got a decent check and give her 0 but this week I got hurt and didn’t work as much and got a small check so I’m like short on bills and may go into overdraft on Friday if I don’t have the money and she will not give it to me for some reason. So I’m pissed at not just her but the whole situation of not having my own money but she keeps talking about going on trips and taking me to meet her parents and all this stuff but she can’t help me out with ?? I didn’t have to give her that 0 last week but I did.

Does anyone know of any state or federal laws–or court rulings for that matter–which relate to the notion of tithing 10% of ones income to their church? Specifically those that might apply to the following hypothetical situation:

A member of a family is required to pay monthly supervision fees to the department of corrections, as part of their probation arrangement.
After tallying up total income, subtracting rent, all utility bills, minimum payments on loans and credit cards, and accounting for the 10% tithe for religious purposes, the family does not have enough money left to fulfill the court obligations.

Does the court have the authority to order the family not to pay their tithe? Does the court have the authority to order the family to default on a loan or fail to pay rent, to meet the obligation?

Seeking specific laws, statutes, or court rulings, please. Opinions, while nice, are not what I have in mind.

She lies about money, having cancer, drugs, alcohol, fidelity…lots of things. I called her on a couple of things and she ‘fessed up. But, during a 55 minute cell phone call that she took while visiting me at my home (I just kept waiting, thinking she’d hang up soon, soon, soon) she told all the same lies to the old friend who called her. Her rudeness hurt, especially when she left two minutes after she hung up. She said, "Wow! 55 minutes. I need to get out of here. I only have a couple of hours to clean my house before church!" I even offered to help her clean. She waved her hand vaguely and left. She says she’s in financial ruin. Hasn’t paid the mortgage, credit cards, the jewelry store "he went to"…and the car got repo’d. But she’s been on two vacations in the last 6 weeks. She’s admitted she doesn’t plan on paying anyone…it lasts as long as it lasts. If God wants it, He can fix all of it. She’s living the high life….0K house, oxycodone, vacations, infidelity, oh, and she had cancer, too except it’s (admitted to me) a lie. So many people are struggling and trying to do the right thing. I’m not without fault but what she’s doing is just wrong. Is my silence consent? I’m losing sleep. She goes to church a few times a week using gas she paid for with a credit card she has no intention of paying. I’m not without sin…so I can’t cast a stone. But knowing the truth and staying silent doesn’t feel right, either. Help?!

I’m suppose to be having a wedding in June. The church is already paid for, but we can get most of it back if we cancel. We are already legally married (he’s in the navy and he had new orders coming up and if I wanted to be able to go with him I had to be his wife). Anyways, we’ve been planning this for a year. My parents were going to be paying and so far we still have to pay for: a dress (I need to order it in the next week if I want to get it in time), Two tux rentals (160 each), alterations, music (the church requires live music and if you use your own you still have to pay 100 for "consultations"), food for the reception, floral (all), decorations, a cake, etc. etc….

Here’s the problem: My mom just lost her job, she is looking for a new job but the soonest she would have a paycheck is September. That means they’re going to be short at LEAST 10K in earnings even after unemployment. So them paying for anything is pretty much out. On my end I can’t find a job and don’t have a job. I can’t even afford school for a few more months. I just pulled out a loan, both of our credit cards are close to the max (enough room for emergencies). The only way we can afford to have the wedding is if we pay the minimums instead of paying off our debt faster… in this case we could afford the wedding (nothing but the minimum)..

On the other we can pay off our debt in the next two years by making above minimum payment and we could just throw a party at my house (my parents have a pool). Food could just be grilled or something simple like that and we have speakers for music.

Which direction should I go with? I’m beyond stressed at this point because this is the third attempt at wedding I’ve had, the first two were before we got legally married. I just want this to be over with. My husband is set on the church wedding whole deal but I never even cared if we got married in a church to begin with.

Im 21 yrs old and i have been abandonded by my husband, or should i get use to saying Ex- husband. This is the saddest part to the story of my life. i need your help to find peace within myself and a diffrent way of looking at things. i was married for about 2 years and a half, this September was going to be 3 years. He went to mexico about 2 years ago to complete his immigration process, he was an illegal immigrant here in the US and i married him out of love, i believe at that time he loved me too. When he went to Mexico i traveled various times to see him and be with him for like a month or two at a time and i would come home to take responsiblilites of my bills. When he needed money i sent him, not only him but his family also, cause its hard over there where they are at. Anyway, i got big loans everywhere to pay for traveling expenses and the lawyer to fix the papers and to pay people over at the Consulant. i got loans every where, from my father like 5,000 and the bank 2,500 and credit cards 2 at 300. well i owed nieghbors, ive been working with my father leveling houses, i work like a guy, i come home tierd and alone. i pay all my bills and at one time i couldnt and was stressing out and lost alot of hair, i would cry to him over the phone all the time. It was hard! it still is. Anyway its been about 8 months since ive seen him and i havent talked to him since hes left his moms house to work in Monterrey, its been 4 months since ive heard from him. his mom knows hes okay cause his uncle works with him, he did commet however he was going to cross over again but as an elligal immigrant and go to New York, but i dont live there so what the heck? His papers have been approved and im just waiting for them to get here, so basically all the loans, and everything we spent and suffered was for nothing. He threw me to a side without giving me a clue y? i was faithful to him, did everything he wanted, i never had much money cause of everything i had to pay, but he had loans in Mexico and i payed them off for him, cause it was supposed to be for us both. I dont understand i got him out of debt to keep myself in debt, i could have used that money for the bills here. i sent him 600 for the loan and 300 cause of the car he missed up, and 50 ever once in a while. right now im hurting for money and so very hurt. i thought marriage was forever and i guess not im 21 and already divorced. i dont understand, im not ugly, im a hard worker, im going to college to better my future, im family oriented, respectful, loyal what more could i have possible done?? when i first realized he didnt care for me i drank so much my parents got scared cause i was always throwing up and sleeping outside like a homeless outside my house with the radio playing the saddest songs. i was loosing everything, i stopped going to church, cause i would ask god sooo much and he never helped me. I just got lost. i havent really met anybody serious but i havent been faithfull anymore and i feel bad but at the same time, i got needs, im not so much sad, more angry, but im hurt still deep inside. i got rid of his close berly like last week, i still have photos i run into that got mixed in with papers i look for, and i get all twisted inside. although he did this to me i think i still love him in some dumb way. the other day my father got a phone call from my mom and he said your mom wants to talk to you and before my mom finished talking to my dad she said " no, u tell her" i asked what and she said "he" wrote to you, it wasnt from him though cause later i found out it was from a company but what im getting at is that when i thought he did write i almost fell into shock, i got all tear eyed and felt sick, what if one day he does come home or if he writes or calls, i dont know how i would react. the other day i called him to "see" if he would answer but again just like all the other times he didnt, but one time he did, he didnt say nothing, i sayd "hello" and he hung up. i havent talked to his family cause i dont really know what to say, i feel emberassed and humiliated, to his family and mine. to myself i look like a failer cause i let college time pass, and i got so in debt, i dont ever get anything for myself and i always have collection on me. he left me so messed up and i dont ever want to be with him again, but the damn feelings are there, y wont they leave. will i ever find someone like him, he was a hard worker, and did everthing for me, when he was here that is, i guess he found some one else, i will to i guess. when his papers get in the mail like his visa so he could be legal here, im just going to look at the papers cause appariantly he didnt care too much about them papers or me. all the heartache, my seperation, my happiness, my struggles, everything, where for those papers, and pretty soon they will be in my hands and put to no use, damn immigration process they destroyed my marriage my happiness, they distroyed who i was.

She lies about money, having cancer, drugs, alcohol, fidelity…lots of things. I called her on a couple of things and she ‘fessed up. But, during a 55 minute cell phone call that she took while visiting me at my home (I just kept waiting, thinking she’d hang up soon, soon, soon) she told all the same lies to the old friend who called her. Her rudeness hurt, especially when she left two minutes after she hung up. She said, "Wow! 55 minutes. I need to get out of here. I only have a couple of hours to clean my house before church!" I even offered to help her clean. She waved her hand vaguely and left. She says she’s in financial ruin. Hasn’t paid the mortgage, credit cards, the jewelry store "he went to"…and the car got repo’d. But she’s been on two vacations in the last 6 weeks. She’s admitted she doesn’t plan on paying anyone…it lasts as long as it lasts. If God wants it, He can fix all of it. She’s living the high life….0K house, oxycodone, vacations, infidelity, oh, and she had cancer, too except it’s (admitted to me) a lie. So many people are struggling and trying to do the right thing. I’m not without fault but what she’s doing is just wrong. Is my silence consent? I’m losing sleep. She goes to church a few times a week using gas she paid for with a credit card she has no intention of paying. I’m not without sin…so I can’t cast a stone. But knowing the truth and staying silent doesn’t feel right, either. Help?!
Thank you, all. I think I just needed other voices to tell me what my heart already knows. Although, I never even considered being caught up or dragged in. I’m going to just back away, politely and when she crashes and burns (inevitably) I will help her as best I can. Thanks for your honesty, clarity and wisdom.

I am 19 years old with not much credit (a few credit cards) and I want to by a duplex or another multi-unit apartment. Can I buy a cheap forclosure that needs some cosmetic work and get a decent mortgage, with plans to rehab it and live in one unit and rent the other(s) out? I make around 00 a month, is this possible?

This money would be utilized for the ministry/church. Membership is very small. At this time, we are not acceping credit cards and have been in business for over a year and a half. My credit is not bad, but my score is not high either. I receive very little in income. I need working capital so that the ministry can expand. I trust that God would have someone who can give me some good advice, leads and/or donations. This is not a hoax. You are welcome to view our website at pureinheartministries. net. Please, I do not need any ugly answers. I need someone who is sincere to respond to my needs…..MAY GOD BLESS

THis friend has lost al his savings, maxed out home equity and credit cards too. We think he has charged his corporate card and unless he pays off the balance might loose his job. He has closed his trading accounts and his church is helping him too. A few of his friends and I want to help but want to do this:
1. Ensure this time he has really quit and
2. We are giving him a loan (no interest required) and that he will pay us back within a few years.

How do we proceed?

I have a niece who spends more then she makes. Is always in debt. Never saves for retirement. Designers things was only things she use to buy. She has gotten to the point she is going bankrupt. The last time I tried to help was over a year ago. I offered to refinance her mortgage, and pay off her credit cards, and get her up to date on her 2 car payments. It was going to cost 12,000. And her monthly bills would go down by 0. After paying one car payment, of close to 0 she said she did not want to refinance her house, and just wanted the money to pay off her credit cards. Which would only lower her monthly bills buy 0. That is not good financing. I said no. And since then I have not given any more money. Except for a small gift, for birthday, or now Christmas.
The problem now is she is mad at me because even though money is tight, I have given a few hundred to charities this year. And I signed up for 0 to my church to buy a gift for needy kids for christmas. I usually give to kids under 12yrs old and for the older older kids. My niece is mad that I most likely be giving more to a stranger. By the way I have forgiven over ,000 in loans in the last 10yrs

Am I wrong.
I am an uncle not a aunt. But thanks for the support. I get weak every few months and feel guilty. Thanks for making me strong again.

First wave of sub-prime mortgage defaults over.

Second wave of mortgage defaults coming now to higher quality credit risks. These are people who have bought homes in the last five years and who have taken out home equity loans. Mortgages now going under water owe more than house is worth. This wave of defaults will take upwards of 10 to 12 months to clear.

Third wave of mortgage defaults due to begin this year and continue through 2011 are Option Arms and Altay; as payments are automatically resetting to higher rates. We saw some fail last month because of a 3% rate hike, next month is the beginning of the end as rates start to climb even higher.
Estimated – 8 million defaults in next four years.

As if this is not enough we have the next huge failure to come in the commercial real estate market, that will make the sub-prime fiasco look like kids play!

Then comes credit cards and auto loans in the end.

There is a " Term Asset-Backed Securities Loan Facility " whichi is supposed to " get credit flowing more normally again," It is for a trillion in lending for households and businesses, especially commercial real estate which is not doing so well lately

"Under the program, which got off to a slow start in March, the Fed provides loans to investors. They use the money to buy newly issued securities backed by auto and student loans, credit cards, business equipment, commercial real estate and loans guaranteed by the Small Business Administration."

Do you think this will get us out of the recession, or do you think it will get us into deeper trouble?

http://news.yahoo.com/s/ap/20090925/ap_on_bi_ge/us_bernanke

1 Funds cannot be removed from this savings account until the end of a certain period of time
2 A type of loan used to buy real estate
3 The amount borrowed in a loan
4 The largest source of income for banks
5 Provide the most services and play the largest role in the economy of all types of lending institutions
6 Requires customers to use a PIN
7 Institutions that give installment loans to consumers
8 A feature of modern banking that allows you to transfer, deposit and withdraw money 24 hours a day
9 Type of bank which originally introduced NOW accounts
10 A banking system that only keeps a portion of the funds on hand and loans out the remainder

A. Fractional Reserve Banking
B. Principal
C. Automated Teller Machine
D. Debit Card
E. Commercial Banks
F. Savings Banks
G. Federal Reserve System
H. Credit Cards
I. Default
J. Stored Value Cards
K. Mortgage
L. Money Market Mutual Funds
M. Finance Companies
N. Interest
O. Certificate of Deposit
I think 3 is B and 6 is D

1 Funds cannot be removed from this savings account until the end of a certain period of time
2 A type of loan used to buy real estate
3 The amount borrowed in a loan
4 The largest source of income for banks
5 Provide the most services and play the largest role in the economy of all types of lending institutions
6 Requires customers to use a PIN
7 Institutions that give installment loans to consumers
8 A feature of modern banking that allows you to transfer, deposit and withdraw money 24 hours a day
9 Type of bank which originally introduced NOW accounts
10 A banking system that only keeps a portion of the funds on hand and loans out the remainder

A. Fractional Reserve Banking
B. Principal
C. Automated Teller Machine
D. Debit Card
E. Commercial Banks
F. Savings Banks
G. Federal Reserve System
H. Credit Cards
I. Default
J. Stored Value Cards
K. Mortgage
L. Money Market Mutual Funds
M. Finance Companies

I just read the entire text of President Bush’s address last night and I grade his effort "D" at best. He did not make the case that needs making.

Here’s the real skinny and what I think President Bush should have said and one —

My Fellow Americans:

The annual yield on treasury bills fell yesterday to 44 basis points. at times yesterday, it was negative. This shows that companies and people with more money than FDIC insurance covers aren’t willing to deposit it at the banks, nor are they willing to buy commercial paper with it.

Without funds from deposits or commercial paper, the banks don’t have the money to make ordinary loans to their regular customers, even if the regular customer’s credit is good. I’m thinking of the local grocery store that borrows on Friday to pay their employees and repays the bank each Monday from the weekend’s receipts.

Without funds available to the banks, they can’t make even good loans to regular customers.

Many people think the bank’s executives and managers should be fired for making all these bad mortgage loans and thus they want to deny this bailout program until the banks are being run better.

America does not have the time to wait for that to happen.

Booting the bank managers would require us to let the banks fail first. It is illegal to simply take over the banks unless and until they stop functioning.

If the banks stop functioning, America’s payments mechanism would stop.

That means that your credit cards, your debit card, and your atm card would not work. No one would take your check because they couldn’t know if your bank will be able to pay it tomorrow.

If that happened, you would not be able to buy groceries or gas or anything unless you had actual cash. This would cause the total volume of sales to plunge, perhaps to only 1/3rd or less of regular levels.

And then employees would be laid off, and every business that couldn’t withstand a huge decline in sales would go bankrupt.

If you and your extended family has four workers in all, I’m talking about one of them losing his job and a second being told her wages are now 1/3rd less than what they were, or she loses her job too.

This is what we must prevent — America’s payments mechanism must continue to operate.

If this means that we have to accept that some executives and managers who deserve to lose their jobs get to keep them because they are also the payments mechanism, that is a price we simply have to pay.

Loans whose value is unknown must be reduced to less than the amount of capital each and every bank has on hand. Since the financial markets have already shown that they will not provide more capital to the banks, someone has to remove the questionable loans from the banks’ assets.

This is what the program my administration has proposed will do.

And the only entity with enough size to do that for the entire economy is the Federal government.

To make sure there is enough time for Congress to act, I have asked the Securities and Exchange Commission and Federal Reserve to immediately declare a banking holiday. They have agreed to do this.

All banks, stock markets, futures markets, stock brokerages, and similar enterprises all across America will be closed tomorrow. They’ll stay closed until Congress acts.

It is very likely that your credit cards will not work tomorrow. Your debit cards and atm cards probably will not work either. And stores may refuse to take your check.

Banks and markets will re-open when there is reasonable assurance for their depositors and ordinary creditors that these weak assets will not cause the banks to fail and take away their deposits and short term lendings.

Our prayers are with America tonight and every night,

thank you and good night.

***
Well, that’s what I think the President should have said and done –

what’s your opinion?
I started working in banking in 1970. along the way, I earned MBA and CPA. I’ve seen economic booms and busts related to real estate lending since my first bust in 1973.

This is by far the worst situation since then.

I am a teacher who ended up bad credit after borrowing money for college and with the expenses of my child. I have steady income.
I need some money to pay off some bills(credit cards,loans, other stuff about a ,000 debt. I own some inherited commercial property that is worth about 25-30 thousand dollars. I want to remodel the old house on it but I don’t have the cash. Also I would like to borrow some money on the place to pay off some bills. I am more than 6 months behind on a lot of my bills. Is it anything that I could do to get some money with bad credit. I have owned this place for 3 years but can’t earn any profits off of it because I don’t have any money to invest in it. The property is in North Mississippi in a very good location of business.

Also I would like to know what type of loan do I say that I need?
Th property has never had any liens on it.

Any advice would be appreciated!
My income is less than 33,000

Looking in the neighborhood of 750k – 1.5 million dollars… Assuming the only thing you have to liquidate any assets from would be the home and 401k what are other options where this level of funding could be acquired (DO NOT INCLUDE credit cards or venture capitalists in your responses) ?

I need answers that speak towards women and minorities seeking loans to acquire commercial property.

Thanks!

I currently have four business accounts (Dell, Staples, Office Depot and Exxon). I would like to get a business line of credit or credit card without a personal guarantee, so I can eventually have a business profile under my company name. All of my credit cards are in good standing. But I don't want to have my personal debt tied in with the business debt.

I keep getting offers from Advanta but they ask for the Social Security Number for the business owner. Where can I go to get business credit solely based on the company's Tax ID Number? All of the other credit card accounts were obtained this way.

Do you have any suggestions?