Personal Debt-Information On Average Personal Debt, Personal Debt Consolidation Loan, Personal Debt Consolidation

releasethedoves asked:


My partner has a debt in the UK – a credit card at approx 12% and a personal loan at approx 21%. He is immigrating to Australia where we are looking to take out a loan to pay it out in pounds, so we can pay it off in the country we are living in. The interest rate here is somewhere between 13-16%. I think this would be a better option because otherwise we’d have to keep transferring $AUS to £GBP and incurring more fees in the process. Does this seem right? Obviously we want to be able to save as much money as possible. Any advice on how best to tackle this would be greatly appreciated.

Aurora Keziah

Stella asked:


Hello. I started a business at the beginning of last year, but was never able to get it off the ground. I closed it in December.

I opened several accounts with no personal guaranty and I don’t have the money to pay those bills right now. Is it possible for my debtors to sue me directly? Can those items end up on my credit report? If it takes too long for me to get back on my feet, can my business’ creditors garnish the wages I earn on my job?

I would like to pay them, but it will be a while before I am back on my feet and I want to make sure my personal credit is protected.

Thanks!
I should point out that the business was an LLC.

Kanesha Gulotta

Rich asked:


Ok this is the deal. I own my home valued around $75,000 before the remodel and I have no mortgage on it. Other debts are $25,000 in student loans, $40,000 in personal loan to family and $45,000 in credit card debt. I take home around $2400 a month. What can I do?

Loura Mirarchi

paistalas asked:


If a person owns a car and that is the only personal property that he/she owns and is unemployed, can the collection agency seize the vehicle?

Also what would happen if a person who is in default lives a country for good?

It’s not about me. And a person who wants to move to a different reason wants to do that because of personal reasons, not trying to run away because of the debt.
Thank you. Sorry for the misspells. I meant if a person leaves the US and starts working abroad.

Katheleen Ellcessor

Kissy asked:


I just read the Grand Rapids press and how we are in debt 1.1 billion dollars.

Well they raised the personal income tax rate from 3.9 to 4.35 percent. I’m only 12, and I’m doing a report on this, so how will this affect us?
It is a state tax rate, and according to the newspaper, it is just for Michigan, so that we can recover from our debt. So can you answer the question?

How will a change in personal tax rate affect us?

Loretta Denenberg

funnimom asked:


Does anyone know what kind of lawyer to get for personal debt reduction, who will not encourage you to file bankruptcy?

Monty Dunavant

dee b asked:


I know bankruptcy should be a last resort but some people have different personal limits. I would like to know your personal answer.

What’s the least amount of debt it would take for you to make the decision to file bankruptcy? And what is your annual income if you don’t mind?

Eugenio Dase

Dan J asked:


My LLC went under, but stills owes money on a credit card machine lease that hasn’t been paid on in months. I opened the account before there was a tax ID, so they used my SS#. Can they affect my personal credit or am I protected by the LLC?

Jacklyn Chirafisi

Glen B asked:


We live in a society where we spent 108 dollars to every 100 dollars of income. It’s no ones fault but those who take on debt irresponsibly. Why should I, or my fellow American, and our children’s children have to assume any DEBT you accumulated recklessly? It’s completely ignorant and thanks to the new stimulus package we’ll be paying interest on a revolving debt that will never turn into a surplus.

Personal Finance 101 for all the people who do not live within their means!

Noe Dear

Renne asked:


If I have signed documentation on a personal loan can I deduct it as bad debt? Also, if the amount is $10,000.00 can I deduct it over a period of three years, considering the maximum amount allowed is $3,000.00?

Delmar Bartolet