What problems arise out of excessive debt and inadequate saving?

Claire D88 asked:


What problems arise out of excessive debt and inadequate saving, and how might the government might correct this?
Need some help with the above question. I dont even know where to start
Any suggestions of journals or journal articles i might read.

what are the consequences of not paying off credit card debt?

Penny H asked:


My family and I had an unplaned birth, and our now overwhelmed with medical expenses and the new expenses from the child. Since we did not have health insurance we became overwhelmed with bills. Over the last couple of years we have fallen progressively farther behind on our credit card bills. We have not made a payment on some of the cards in over nine month. Utlimately, besides lowering our credit score, is the consequences of not paying the cards. Can the creditors take our vehicles? Take money from our bank accounts? Garrnish our wages? We are very worried about our debt and would like to pay the debt off, yet feel very intimidated by the whole process. Thanks for any help

California signed a global warming bill and are now bankrupt, do you think Obama will do the same?

K M asked:


if him and his democrats keep spending money we don’t have, do you think he will turn America into a bankrupt nation like California?

How much is the pension of a government worker that has worked 30 years monthly allotment anybody know?

fred asked:


curious how much a government employee on a pension makes every month?
american government, or state?
Just a ballpark figure.

What is the best way to restore your credit after a foreclosure or bankruptcy?

justlilolme asked:


My fiancee had a home in another state that ended up in foreclosure. Now his credit score has suffered. What is the best and fastest way to try to reestablish his credit? Before the foreclosure his credit score was great. He also owns the home we live in and is current on all his bills.

1 interest payment following refinance not included in 1098, can I include this in my mortgage int deduction?

Kashmir_Zepp asked:


I refinanced my primary residence in 2007 (only the principle / no cash back / no debt consolidation, etc.). My 1098 from the original note holder did not include all the mortgage interest paid – only that through the payoff date. The 1098 did not include the accrued interest since the payoff date was prepaid and the actual payoff was made. This is result of mortgage interest being paid in arrears. My account statement with the original note holder identifies this activity.

I paid all the interest, but for some reason it was not included in the 1098. The lender has not been helpful. The new note holder (or seller) did not pay any interest, so that is not applicable.

Any assistance is greatly appreciated.

Will Ed McMahon literally be on the street?

justellemJimsaidhello asked:


First, he gets put into arrears for his mortgage, totalling over 640,000 dollars. Now, he can’t pay his divorce lawyer close to 250,000 dollars! That’s a sure sign of being broke. How will the man eat? And I mean that!

insurance?

Tony G asked:


just wondering. my mom has a trailblazer and my dad has a lumina. they already have full coverage. my question is do they have to add my the insurance or since i have my drivers lisence i can start driving. my mom said that im already insured because it already has full coverage is that true or does she have to add me or what???

What is the best way to eliminate debt and make only one payment?

Mary Beth T asked:


Ok I was in a car accident and I got behind on my credit cards (which I should have never had in the first place). I probably have close to $5,000 in debt and I am wanting to find the best way to get out of it. I also would rather pay one montly payment. Would a bank give me a loan to pay off the credit card companies? This would be easier for me to just pay one huge amount each month instead of so many individual payments? Also since I have late payment charges will this effect my status?

Any who please help me with any advice you might have…

Republicans supported the insurance companies who cried that a public option would have been unfair to them?

Steve asked:


I guess they think that being able to pull out of the child only insurance market is fair?

The insurance companies’ concern that some parents refusing to cover children until they get sick is valid. So, establish an open enrollment period, where you can only sign up for insurance during that time frame.

Pulling out of the child-only insurance market sure isn’t fair – to the children that is. But, Republicans aren’t screaming about that.

Does that mean they’re on the side of the insurance companies and not the children?