If you had a cash advance on a credit card for 10,000 and you wanted to give money to Haiti or Chile …?

Question by DavidH: If you had a cash advance on a credit card for 10,000 and you wanted to give money to Haiti or Chile ...?
What would you do? Let's say that for some reason you took a $ 10K cash advance on a low-interest credit card and had the money sitting in the bank. You have some plans for it in the future, but those plans aren't completely defined yet, so the money is in large part still disecretionary.

There's an earthquake in Haiti, and you want to help the relief effort by donating $ 1,000 to the Red Cross. What do you do? Do you call up your credit card company and ask for an increase in your limit, or do you take some of the money you've already got and use that? Do you split the money between the bank account and current income? What's prudent?

This is the situation that Jim Bunning has been protesting. Most of the stimulus money remains unspent. There is $ 97 Billion in a discretionary fund, unallocated dollars for future use. The purpose of the Stimulus package, at least in part, was to provide for emergency extension of unemployment benefits. All Bunning was asking for was that the government allocate CURRENT funds for this unemployment extension, instead of increasing the deficit by another $ 10 billion.

Maybe someone can explain to me why Bunning is the bad guy here. What about the rest of the Senate, who for some reason, in the midst of spectacular debt, would not consider this modest pullback on increasing our debt? Taking $ 10 billion out of a $ 97 billiion reserve can't be that hard, can it? Can anyone explain what that money is marked for, and why it cannot be touched for this extension?

Two weeks ago, Obama signed into law "Pay As You Go" legislation - i.e., "If you spend a dollar, you have to cut it elsewhere",then proceeded to waive it for two pieces of legislation. Bunning's big crime is that he believed that to be true, and pressed the point.

What do you think? At what point do you look at the massive debt this country is in, the obligations we owe to Red China, the leverage that country has against us, the specter of the reduction of the quality of our debt on the world market and say, "enough is enough!"?

To me, it does not seem so unreasonable to take money that was originally earmarked for emergency extension of unemployment benefits, and actually use it for emergency unemployment benefits. Lord knows, that even if they cannot figure out a way to use that $ 97 billion, they can certainly cut places like Pelosi's $ 100,000 airline liquor bill, or the $ 300 million paid to Louisiana in exchange for a vote on healthcare, or any of several dozen pork projects offered to compliant Senators to help in their re-election. In the grand scheme of the US budget, $ 10 billion is not so much money to find.

Best answer:

Answer by Tharu77
Well if you are sooooo rich you can give it off for charity. But if you still have a future ahead of you and at some point in life you want to do something that need money then it would be most sensible to keep the money and use it in a sensible way. Or may be you can give part of it to charity and keep the rest of it for your future. Its good to share and contribute to charity but not at the cost of your future. Hope you make the correct decision.

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New Credit Card Debt Relief Laws - Why Credit Card Debt Is Easier To Negotiate and Settle For Less

Thanks to the government's new credit card debt relief laws, consumers facing increasing amounts of unpaid credit card bills do not have to worry anymore. These new laws have made it easier to negotiate and settle the consumers' credit card debt burden for less than what they actually owe to their creditors.

The FTC's regulations have made tighter rules for the debt settlement companies. According to this new law, no debt settlement company will be able to take advance fee from their clients. In order to safeguard the money of the consumers, only once a settlement is reached, a consumer is bound to give any fee to the debt settlement firm. This restriction on the upfront fee will clearly make it less risky for the consumers and thus, it will enable them to take help from a legitimate debt relief firm.

As the FTC's new laws has given more confidence to the defaulters to take assistance of debt settlement, more and more debtors are now opting for the credit card debt settlement instead of bankruptcy. Consumers with a huge amount of debt of ten thousand dollars or more are eligible under the new law to promptly avail the financial settlement services provided in their state and easily get their debts reduced by as much as 70 % of the total debts. The lenders are also getting benefits from the debt settlement option as they are getting paid some percentage of their money back instead of having to let go the whole amount in the case of bankruptcy.

Owing to the increased cases of debt settlement to provide debt relief, a growing number of new firms are working with the basic purpose of cheating the consumers and misleading by providing them false services. These firms charge a high sum of money as advance fee for getting registered with their debt relief program. The consumer unknowingly pays the fee and at the end finds out that all the claims made by these fraud companies were false thus getting themselves in more financial hardship than before. For this reason, the government had to intervene and make stricter laws to stop the illegal practices of these fraud companies. These new laws have clearly made it easier for the consumers to hire the right settlement company to help settle their debt issues efficiently.

If you have over ,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the following link.

Federal Credit Card Debt Relief Laws - Why It's Now Easier To Get Bailed Out Of Credit Card Debt

Thanks to the government's new credit card debt relief laws, consumers facing increasing amounts of unpaid credit card bills do not have to worry anymore. These new laws have made it easier to negotiate and settle the consumers' credit card debt burden for less than what they actually owe to their creditors.

The FTC's regulations have made tighter rules for the debt settlement companies. According to this new law, no debt settlement company will be able to take advance fee from their clients. In order to safeguard the money of the consumers, only once a settlement is reached, a consumer is bound to give any fee to the debt settlement firm. This restriction on the upfront fee will clearly make it less risky for the consumers and thus, it will enable them to take help from a legitimate debt relief firm.

As the FTC's new laws has given more confidence to the defaulters to take assistance of debt settlement, more and more debtors are now opting for the credit card debt settlement instead of bankruptcy. Consumers with a huge amount of debt of ten thousand dollars or more are eligible under the new law to promptly avail the financial settlement services provided in their state and easily get their debts reduced by as much as 70 % of the total debts. The lenders are also getting benefits from the debt settlement option as they are getting paid some percentage of their money back instead of having to let go the whole amount in the case of bankruptcy.

Owing to the increased cases of debt settlement to provide debt relief, a growing number of new firms are working with the basic purpose of cheating the consumers and misleading by providing them false services. These firms charge a high sum of money as advance fee for getting registered with their debt relief program. The consumer unknowingly pays the fee and at the end finds out that all the claims made by these fraud companies were false thus getting themselves in more financial hardship than before. For this reason, the government had to intervene and make stricter laws to stop the illegal practices of these fraud companies. These new laws have clearly made it easier for the consumers to hire the right settlement company to help settle their debt issues efficiently.

If you have over ,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the following link.

New federal credit card debt relief laws were recently passed under the Federal Trade Commission of the United States. These new laws make it much easier for consumers to legally get bailed out of credit card debt through a debt settlement process. This however is not intended for everyone. You must have at least ,000 in unsecured credit debt and be experiencing a legitimate financial hardship to qualify. But, if you do qualify you can legitimately eliminate over half of your credit card debt.

These new laws effectively prohibit debt settlement companies from collecting upfront fees. Now when consumers enter into such a program they will not have to pay until they see actual results from a successful settlement. This new federal legislation has made the debt relief industry much more legitimate and nearly all the shady companies have been put out of business. They simply cannot survive without collecting upfront fees.

The legitimate debt settlement companies however will stay in business. They will have enough confidence to collect their fees on the back end when they negotiate a successful settlement deal. The companies that have a proven track record in successfully negotiating debt settlement deals will ultimately benefit from this legislation. Consumers don't have to worry about getting ripped off anymore. If they don't perform, you don't pay. Simple as that.

Consumers just looking to get bailed out of credit card debt will not qualify for legitimate debt relief programs. You must be experiencing a legitimate financial hardship and have at least ,000 in unsecured debt. If you do qualify however, this can be a very good option for debt relief considering the new federal laws that were just passed.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.

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