Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [debt-restructuring]

for questions that relate to debt restructuring. Debt restructuring is replacement of old debt by new debt when not under financial distress. It is recommended to include a country tag, laws in different countries and states can vary.

Debt restructuring is a process that allows a person, company – or a sovereign entity – facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it can continue its operations.

Debt restructuring - From Wikipedia

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Should I use a credit repair agency?

I had very good credit but went through a series of jobs, some I got laid off from or fired from and as a result I fell behind on credit payments, several charge offs. I do have an existing auto loan. I haven't been able to make the payments on the…
Mike
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How do debt settlement plans work?

Let's say that you owe $10,000 to several creditors. You can't pay the whole amount, but you do have enough on hand to offer everyone 40-60 cents on the dollar. And there are debt settlement companies that (for a fee, taken at the "back" end), can…
Tom Au
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How can I minimize losses on an upside down mortgage for a condo I no longer live in?

I have made a good faith effort to keep up my mortgage payments on a condo that I no longer live in since Oct 2005. In 2005 I had to move out of state for my job and I listed the property for about 60 days before realizing that there was not enough…
anon
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5 answers

Should I cash out my Roth IRA to pay my mother's property tax debt, to avoid foreclosure on her home?

I'm thinking about liquidating my Roth IRA and taking a loan out against my 401k to pay the property taxes my cancer stricken mom owes on her home. She's several years behind, and the county is foreclosing on it soon. She has no savings besides…
foreverBroke
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In Australia, how to battle credit card debt?

I have $18K in credit card debt. What are my options in tackling this? Every month I am left with no extra money to pay anything more than minimum payment required (car, rent, another personal loan, minimum on food and petrol). At the moment my…
iamxtoz
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Should I get a personal loan to pay on my mortgage to go "above water" to qualify for a refinance?

I purchased my primary residence in 2007. The rate was 5.99% on a 30 year fixed. Rates have dropped dramatically since then, but so have home prices. I wanted to refinance a while back, but it looked like the lender was going to require an…
Derek
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Should I make extra payments to my under water mortgage or increase my savings?

Currently I have a mortgage that I am underwater on by about $10K - $15k, and I am looking to move to a different state in the next year for several unrelated reasons (not buying a new home). I have about $800 to $1000 extra each month to put toward…
Zach Green
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How to handle old 401(k) I have, with respect to refinancing some of my debts?

I have recently been shopping around to see if I could get my home refinanced. I purchased in Oct. 2007 for $200,000 - 30 year fixed at 5.99%. I called my lender and they were willing to refinance at 4.875% for 20 years, or 5.125% for another 30…
Derek
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Walking away from a mortgage & home - financial options

I currently have a home that is 100% Loan to Value. It has lost a significant amount of the value i paid for it -- hence now a 100% LtV guesstimate. I am able to comfortably make my payments as it stands, and have no financial hardship. I'm looking…
Dominic Hopton
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What is 'consolidating' debt and why do people do it?

I've seen 'debt consolidation' advised for people who have a lot of debt (from different credit cards, etc). What does that involve, exactly, and why is it a good idea? Say I have: $1000 at 5% from A $5000 at 10% from B $5000 at 5% from C As I…
Larry Wang
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What prevents one from taking a personal loan to pay off credit card debt from same bank?

I racked up a lot of credit card debt quickly after a major medical operation, and the interest is so high that even putting large amounts of my paycheck towards it monthly hasn't made a dent in the balance. I have a good credit score, and my own…
Village
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Debt consolidation on credit rating

I have the opportunity to consolidate some of my higher interest rate under a much lower APR in a personal line of credit. Would it hurt or possibly improve my credit score if I were to do this? Is it better to just pay off the highest APR debt…
Daxxcat
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Are the "debt reduction" company useful?

My Chase Credit Card vary their payment date each month by a day or two each month, claiming that it is "related to different number of days each month." So naturally, it is easy to throw me off as to whether the payment is due on the 7th or 6th,…
nonopolarity
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What steps should be taken, if any, when you find out your home's market value is underwater, i.e. worth less than the mortgage owed?

What steps should be taken, if any, when you find out your home's market value is underwater, i.e. worth less than the mortgage owed?
Richard Sayakanit
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Pay down on second mortage when underwater?

I did an 80/20 financing for a home I bought for $280K that is currently worth about $210K, yet I owe a total of about $265K right now. My primary is 6.75% and 2nd is 8.6%. I have also have a $7K car loan at 7%. I do not have any unsecured debts…
Bob
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