Related articles from Yahoo AnswersOpen Question: Has anybody been offered the Discover "5.0 Superior" debt-relief privilege?
I received a letter notifying me of this status and the opportunity to consolidate outstanding balances for a low monthly payment plan, however, I am a bit suspicious due to the late predatory practices of such major institutions.
Open Question: Can one collection agency buy all your debts and then consolidate them to come after you for the total?
I know an individual can call a finance company to consolidate their debt from various sources (credit cards, medical, etc) but can one collection agency buy all your delinquent debts (unsolicited by you the individual) and try and collect the total (the sum of all the individual debts massed together) from you? I have a friend in need of such info. Thanks.
Open Question: How to begin fixing bad credit?
Needless to say when I was younger I made some bad choices. The two largest things I did wrong was:
1. I deployed to Iraq and forgot to cut off my cell phone, and the bill went up to over $1000 and they turned me into a credit agency.
2. Charged $300 on a Kay Jewelers credit card and didn't pay and got turned into a credit agency.
3. and I'm sure I made some other mistakes along the way.
I have bill collector calling me about 3 times a week. They have offered to cut some of what I owe and receive payments over time. Is that something I should I do? My total debt owed is probably no more than $2000, should I consider consolidated debt and work montly to pay it off?
What are some ways I can get started on this, seeing exactly what the red marks are on my credit report without having to pay to see my report?
Open Question: Does anyone know from EXPERIENCE good banks to consolidate debt with a good credit rating?
My credit isnt excellent but it is good about 670-710. I have about 55k I would like to consolidate into 1 payment. I cant take out a home equity loan yet because I just bought my house in April 2008.
Open Question: HELP NEED 60 THOUSAND TO CONSOLIDATE. HELP?
CREDIT CARD PLACES WONT GO THAT HIGH. BANKS WONT GO THAT HIGH ON A SIGNATURE LONE. DONT KNOW WHAT ELSE TO DO UNLESS GO THREW THOUGH THOSE COMPANY WHO REALLT MESS YOU UP CREDIT WISE. ANYONE KNOE ANYONE WHO CAN HELP???? NO I DONT HAVE A PAID OFF TRUCK OR ANYTHING OR HAVE A HOUSE. NO NOTHING FOR CORLADERAL. PLEASE SOMEONE HELP. JUST DEEP SHIT IN DEBT IN THE MILITARY LIVING ON BASE AND HAVE NOTHING.
Open Question: Is my student loan collection agency ripping me off?
After 4 years of college, I accumulated a student loan debt of about $17,000 ($19,000 with interest) which I had consolidated with Nelnet. I struggled to make the first 3 payments, but eventually stopped after getting fired from my $8/hour job. Two and a half years later, I received a letter from a company called "Windham Professionals" stating that they purchased my loan from Nelnet and that I now owed them a whopping $45,000 with no explanation as to how they arrived at that number other than to say that $7,000 was for 'collection costs'. Does this sound right? It took 4 years to accumulate the original $17,000 debt and a little over 2 years to nearly TRIPLE that number? What's keeping them from charging me $1 million? I have since made 14 on-time payments to Windham to rehabilitate the loan, but I would like for that $45,000 bill to at least be cut in half. How do I do this?
Resolved Question: Debt Consolidation Advice! Please Help.?
I am in debt by quite a considerable amount and would like to possibly consolidate my debts so that I can afford to pay them off better and also to be able to just pay one monthly payment.
I dont know much about all this and was wondering if I do this will the company actually pay off my debts so that my credit score will be getting repaired why I am paying the consolidation company monthly?
I dont want to go ahead with it if it is not going to make my credit score get any better or go back to how it should be.
Any advice or help would be appreciated.
Thanks in advance!!
Open Question: Does a former defaulted student loan automatically disqualify me from a security clearance?
I have student loans through 2 companies, one company kept in touch with me and I managed to defer payments long enough until I got a handle on my situation. The other company seemed to drop off the face of the earth, sold my loans to another company and I had no idea. One day I find out it's defaulted. Okay, fine. I'm working on getting that loan consolidated so that I can get it out of default, however I'm in Officer Candidate School in the Army currently and will be applying for a security clearance once I get my branch. I also have a bunch of credit card debt that I am working on managing. Basically, OCS is my plan for getting out of debt. Any suggestions?
Open Question: How can I get debt consolidation with hospital bills and non credit card debt?
I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can't find anyone who does debt consolidation without credit card debt. Any suggestions?
Open Question: Advice on Unpaid finance please???
Back in 2005 I purchased a Suzuki GSXR 750 brand new, took out £5000 finance to cover the balance after my deposit, I paid back £1500 to the finance company over the first months, then when I broke up with my boyfriend he stole the bike. I informed the police and they said that it was a domestic matter because he had been my boyfriend! Because the police called it a domestic matter and not theft the insurance company legally managed to get out of paying up for the stolen bike, I was left £3500 in debt to the finance company, the bike was on HP but they refused to collect it from a third party. even though i told them where it was. I tried to recover the vehicle myself and the police informed me that while i was legally allowed to remove the vehicle that if i did i would be arrested for breach of the peace!!! WTF!!!
I was told by the police to leave the bike and come back to get it at another time when things have quietened down. Well, that night my bike was stripped down to parts and sold off on ebay!
I'm still in debt to the finance company and now they have bumped it up to £6000! They have put a ccj against me making it impossible for me to consolidate.
What can i do to get out of this financial mess?
I dont have the money to pay them off and the repayments at a level i can afford would take me forever to pay off.
Thank you for your answers in advance. xxx
Open Question: how much debt before consolidating?
i'm not to much in debt but thte though has crossed my mind of consolidation.
i am currently $2600 in debt over 3 cc's each with an avg of 22%APR
i realize this isnt much debt at all but can only afford to make about $250-$300/mo total towards the 3 combined.
would it be wise for me to consolidate these if i could get an apr of like 18% or so? this isnt to much of a difference but with 4% or maybe even lower my credit is 680 would i be able to save much money by the time this gets paid off or is it to low to really matter?
Resolved Question: Pros and Cons of Debt Consolidation?
Hi, I have roughly $3,000 in credit card debt. I am thinking of borrowing from a bank that offers a lower interest rate, and then just paying the bank back rather than several credit card providers. Does anyone have any advice, or do you know if it would be better to consolidate debt from a different organization?
Resolved Question: What is the lessor of two financial evils?
My wife brought into our marriage about 23K in debt from a divorce about 4 years ago. She hired a credit counselor to get things consolidated and they charge $40/mo. Current payments of $750/mo (which includes the $40).
I'm thinking about breaking off the agreement with them (there's no "contract" agreement, except that they reduced the interest rate on agreement with the creditors), and paying it off in our own timing, smallest debt to largest.
The way it is now, we're going paycheck to paycheck, and keeping up with the bills, no saftey net, and only about $200/mo going into savings.
I'm wondering if #1 - her credit is already screwed by the arrangement with the credit counselors,
#2 - if I can pay it off earlier than the schedule that the counselers set up, but have a two month gap in payments (to build up an emergency savings of about 2k), should I go that way? it would take 24 mos for me to do it AND I would have some kind of safety net, vs taking 28 mos and having no saftey net.
Your thoughts?
Voting Question: I need to consolidate some bills. Does any one know where to look?
My debt to income ratio is bad, due to my husband having everything in my name. I had a great credit rating untill I got scammed 3 months ago and have not been able to keep up with some credit cards. I need some HELP!!!
Resolved Question: How do I get my credit cards to lower their interest rates?
my APR is anywhere between 23 & 28%. Very high!! But, I pay all my bills on time and always pay more than the minimum... is it because I have more debt than capital? Is there a plan where I can consolidate all of my store credit cards into one low-interest card without having to go to an outside company for help?
Voting Question: We are having Financial problems?
I have to many bills. Home, day care two children, 2 business credit cards, 2 business loans, equity loan because of business, car, 2 student loans, 2 phones, INTERNET, cable, utilities and the usual stuff food clothes and etc. We where doing fine until one of my husbands business closed. The business caused lots of extra debts the equity loan, the 2 business loans and the 2 credit cards. We are unable to pay the monthly notes. I am trying to consolidate all the business loans so we can afford to make payments. Any suggestions?
Voting Question: where can i get a loan with really bad credit?
anyone know of a website where i can get a loan i tried prosper.com and also lendingclub.com but apparently i don't good enough credit. i just wanted to use it consolidate my debt into one payment.. all suggestion would be highly appreciated.. thanks
Resolved Question: Why am I such a loser? Why do I struggle to get everything done?
I should be extremely successful. Yet it seems that I constantly struggle in ways I should not.
Here is an honest assessment of myself. Am I just a sucky person, or do I qualify as having some sort of diagnosable problem that can be treated? Am I just an irresponsible idiot?
- I am a 32-year-old female who is still working my way through college. I fail some of my courses. I am extremely bright but I skip classes a lot, mainly to sleep because I stay up very late.
- I procrastinate in almost everything. If I don't want to do something, I don't do it.
- The same goes for paying bills - I have terrible credit because there have been times where I just ignored bills. I felt like, well my credit is already bad so who cares...
- I have a beautiful face (everyone tells me so) but am really overweight. I have been bulimic since I was 13 and my weight comes and goes. I used to work out a lot, but I have had a few serious injuries and now can't do much, so the weight continues to pile on.
- I sleep way too much
- I am a complete slob. I keep everything around me in a total state of disorganization
I have some good traits.
- I am very smart
- I am artistically gifted and work as a designer
- I am kind, loving and thoughtful
- I am very generous with others
- I have a very good sense of humor and make people laugh a lot
- I love animals and am constantly rescuing something
- I don't steal or use people
- I always help people who need it
In the past I have been very depressed, but right now I don't feel depressed. I just feel like a loser who can't get organized. I've been tested for ADD and don't have it. I have seen therapists but they don't seem to get it. I'm such a nice and interesting person to talk to that they focus on this and it's hard for them to see what a mess my life is.
Just recently I've been trying to consolidate my debts and bills and looking at my credit report realize what an irresponsible loser I have been. I am starting to feel hopeless, like there is no future for someone as awful as I am.
help please. thank you.
Resolved Question: I need a loan with bad credit?
I am a 22 year old going out of the mission field to mexico. I am trying to consolidate some debt and pay off $2,000 of debt that I owe and make smaller payments with my salary once I am down there. My credit stinks because of a family tragedy two years ago and I lost my job. I do not want a payday loan. I've checked everything out there and can't seem to find anything valid. Any suggestions.
Open Question: Will someone help me consolidate my debt by loaning me money?
I'm in the red and i wanted someone to loan me money so that i could consolidate my other debts. I have a business but i just couldn't get out of debt if i don't have a long term loan. please help me.
Unfortunately I live in the Philippines. Will someone help me with my problem?
Voting Question: I need help. If you can I would greatly appreciate it.?
Consolidated Statement of Income for Ford Motor Company and Subsidiaries
For the Years Ended December 31, 2007, 2006, (in millions, except per share amounts)
Sales and revenue...............2007.....2006
Automotive sales..............154,379....143,249
Finacial Service revenue....18,076....16,816
Total sales and revenue..172,455 ......160,065
Costs and Expenses..............2007......2006
Automotive cost of sales......142,587..148,866
selling, admin., and other......21,169....19,148
Goodwill impairment................2,400
Interest expense.................10,927.....8,783
Financial Service credit loss......668........241
Total costs and expense......177,751...177,038
Liabilities and Stockholders Equity
Year......................2007....2006
Payables..............20,832....21,214
Accrued Liab & ...74,738...80,058
Debt...............168,530....171,832
Deferred Income Tax.3,034.......2,744
Liabilities for Discont...5,081.....5,654
Total Liabilities........272,215....281,502
Stockholder equity
Year.....................2007.....2006
Capital stock
Common Stock, par value $0.01 per share (2,124 million shares issues & 6,000 million authorized)...........21........18
Class B Stock, Par value $0.01 per share (71 million shares issued & 530 million authorized)..........1..........1
Capital in excess of par value of stock..................7,834......4,562
Accumulated other ..(558).......(7,846)
Treasury Stock........(185)..........(183)
Retained earnings.....(1,485)........(17)
Total stockholders equity.5,628....(3,465)
Total Liabi &equity.......279,264.....279,196
I need to know how to figure out the weighted average cost of capital for years 2007 and 2006. If any one can show me how to figure this out I would greatly apprecaite it.
Voting Question: I'm well on my way to an BA in Accounting and I hope to be a CPA eventually.? But from my past...?
bad credit and legal problems. I'm an alcoholic in recovery and I love being sober and I love college and I love accounting. In 2001 I got a class D felony DUI. About that time got myself into bad debt. In the years since then unpaid debt has been added to my credit history and my score is about 510. Will anybody hire me as an accountant (in a couple of years) with a nearly 10 year old driving felony and bad credit that is going unpaid for now. If I do get a good job I will consolidate my $12,000 of unpaid bad debt with my student loans which have not defaulted. Then I will work on improving my credit and paying off my debts. But I need the good job first. I am good at accounting and I will pass the CPA but I'm worried that nobody will hire me.
Voting Question: My credit is very poor, is there a way to get a initial home loan and borrow on top to pay off my other debts?
I have a personal loan, car loan, and credit cards that I would like to pay off if possible with a home loan as I have been looking into purchasing lately and it seems easier to consolidate it into one loan rather then all individual loans or even 2 loans if I do a debt consolidation...
Resolved Question: does anyone know of a nonprofit agency for credit card debt relief? ?
Is there a government program or a good nonprofit that can assist with credit card settlements, consolidated loans, or other debt relief? I have a judgement against me from Capital One for $4200 and it is now at $5,100 because of the 27% interest rate!!! Can I get a loan at a lower rate and have some company settle with them for the $4200? Any suggestions? I am desperate!
Is there a government program or a good nonprofit that can assist with credit card settlements, consolidated loans, or other debt relief? I have a judgement against me from Capital One for $4200 and it is now at $5,100 because of the 27% interest rate!!! Can I get a loan at a lower rate and have some company settle with them for the $4200? Any suggestions? I am desperate! Also, are there such things as government grants that are REAL that I can possibly apply for?
I live in Colorado
Voting Question: Places that Consolidate Debt In Las Vegas, NV?
Voting Question: The best debt consolidator agency?
Does anyone know the right agency to consolidate debt? I try to help a friend of mine who is tangled in collections and the thing is she has more than 3 collections and try to settle it with them but I have no clue which agency would be the best. So, any inputs would be great! thanks.
Resolved Question: i have serious debt problems, i need real help?
How do i get a personal loan on bad credit?
i just applied a loan for $13,000 to consolidate my credit card debt at citifinanical
i have bad credit. so i dont expect a yes from citifinancial. but just wondering if its possible to beg and plead them over the phone and maybe they'll at least reconsider giving me some help? is it worth it? or is it like a NO and thats that, period. regardless of what I say it wont change things?
i might kill myself because i just cant take this debt anymore, i am poor and i am broke. and no matter how much I work Im still broke. on top of credit card debt I have 25,000 student loans. I suck at my job and I hate life. I have no friends and no social life. why should I wake up everyday and continue with this
Resolved Question: how do i get a personal loan on bad credit?
i just applied a loan for $13,000 to consolidate my credit card debt
i have bad credit. so i dont expect a yes from citifinancial. but just wondering if its possible to beg and plead them over the phone and maybe they'll at least reconsider giving me some help? is it worth it? or is it like a NO and thats that, period. regardless of what I say it wont change things?
Voting Question: Credit Consolidation?
OK, I'm about $5,000 in debt. I know that doesn't seem like a lot in the long run, but the interest rates have run my monthly payments s high that I can't afford them. I tried to get a loan through my bank to consolidate my payments - but my credit score was bad! How is someone with under $10,000 supposed to take care of their credit? I have gotten rid of the cards, now I need to get rid of the debt. Is there a debt consolidation program for lower amounts? Everything I look at asks for $10,000 or up, I'm not trying to owe more money. Anyone have any ideas or know of any good consolidation programs?
Resolved Question: should I consolidate my debt?
should I consolidate my debt
Voting Question: the truth about debt consolidation?
i need to consolidate my debts i am in a commission job and with the economy the way it is i can not pay all my bills. i am thinking about consolidating but i don't know much about it.
Voting Question: Getting Out of Debt?
I have about $10k in credit card debt and am thinking about consolidating. Are there any companies you would recommend going through to do this? I am not late on any payments as of yet, but I am sick of having to shell out so much each month (plus my bank account is not looking so great these days). Can anyone help me? I am thinking of going with Citifinancial.
Resolved Question: Consolidating more than $100,000 student loan debt...?
Like a fool, I went to a very expensive school that I could not afford, but got the tuition from Sallie Mae. They are a terrible company and I do not want to work with them anymore.
My question is:
What would be a good company to go through in consolidation all my Sallie Mae loans?
I know I would most likely need a co-signer, which I don't have.
I didn't know I cout try to re-negotiate the interest rate. They haven't been the nicest company. After my co-signer forgot about approving one of the loans, he had me (sort of unintentionally) accused of identity theft. It wasn't the kind of thing that involved law enforcement, it was just with Sallie Mae. I explained the situation to them and they always flat out refuse to work with me on any issue.
I was just on the phone with a rep a little while ago and she asked me why I'm having trouble paying the bill. I explained to her how difficult it is to pay more than a thousand dollars per month while working part-time. She just paused for a second and then asked for the money.
Resolved Question: I NEED A LOAN TO CONSOLIDATE MY DEBT -BUT MY DEBT IS NOT BAD ENOUGH FOR CREDIT COUNSELING---ANY SUGGESTIONS?
I have tried to get debt consolidation help but every one just tells me they can't help me because my debt is not high enough!! I have been slowly paying what i can but am starting to sink fast--i work 2 jobs and it never seems to be enough. I am trying to find an organization that will loan me enough to pay off bills and have one monthly payment. Maybe then I can quit my second job to spend time with my family!! Any suggestions?
Resolved Question: What are the best top 3 credit counseling agencies?
I have about $5500 in debt and I would like to consolidate them thru the credit counseling agencies. I am unable to get approved for a personal loan or a consolidation loan and so this is my last resort. I know that this will show up on my credit, but hey I figure that's life and I'm not going to let it get to me. So if you could help out in letting me know the best credit counseling agency to go to that would be great thanks!!!!
Resolved Question: I wan't to consolidate my credit cards...?
I have 3 credit cards with a total debt of $2045.73
I tried to go through the credit companies I have to consolidate, non of them will increase my limit for me to add the other 2 credit cards together.
What should I do?
I want just ONE payment each month.
Not the minimum to each cards a month. It gets too hectic.
Voting Question: I have left UK to live in Spain with £9000 debt. can I get away with not paying? really cant afford 2.?
I have been paying them for about 3 years and don't seem to take anything off the balance. I also do not have the option to get a loan out to consolidate them, as I have such bad credit rating.
I would like to know what power creditors have to chase me in Spain and what the likeliness is that they will find me.
I don't believe this is the right thing, but everyone else seems to get benefits and all sorts from UK, I have paid tax and NI for 6 years and have claimed nothing.
I do appreciate all factual advice.
Resolved Question: Do you agree that we need to rethink the way we are doing things internationally?
It's about capability. What is being waged here is economic in nature. We are 9 trillion dollars in debt and already over extended in two wars... It gets down to we are not the powerhouse we think we are cause we are strapped financially. The funny thing about this situation is that we carry the burden yet multi lateral corporations world wide get contracts to rebuild. This is why business needs to carry more of the tax load as well as the top one percent. This is why we need to rethink the way we project ourselves... This is my solution. Withdraw from Iraq and move to consolidate and eliminate the Talibans presence in Afganistan. Once we are out of Iraq, Al queda will move to Afganistan. We narrow the front to an area that doesn't have such a economic impact on world oil prices which will help us to recover. Secondly, and this has been discussed for some time. If we are to fight these actions in the future, it needs to be a concise quick response. In other words we narrow our objectives to go in take out the problem and leave. Lesson the financial impact and don't create such an economic drain on our economy. In other words we should have left as soon as we got Saddam. That was our objective and we got him. The world will look at us then as a destroyer of evil and freedom instead of an occupier. Even with this philosophy, we need to draw in the EU to do some of this work and quite trying to be the worlds policeman. Share the load share the economic impact.
Voting Question: Consolidtated credit card debt?
My wife and I consolidated our credit card debt. Between the both of us we had about 8,000, but I think we made a mistake with the kind of load we got. We had to put up one of our cars for collateral. The interest is kind of high and by the time we pay it off we would have payed back 15000 instead of the 8000. Is there a better loan out there we can get? Like a home equity loan or something? Any advice would help.
Resolved Question: Debt Help, Sink or Swim time.?
With the way the economy is and prices on everything soaring my family and I, (husband and two kids) have reached a point of where it is do we pay the bills or have food to eat. We are drowning in debt and with both of our credit scores in the lower 600's no one wants to consolidate or lend money to help with the bills. The fact is we make to much money for help from the state, but not enough money to get by. I am afraid of defaulting and do not want to file bankrupt, but what do you do when you get to where you cant feed your family? We filed over $43k last year on our taxes and are now are having to choose whether to feed our family or pay the bills. Anyone with and solutions or constructive criticism would be greatly appreciated.
Resolved Question: I am looking to consolidate debt without refinancing? Can I borow against my term life ins. policy?
Resolved Question: Is it a good idea to consolidate my debt?
i'm 26 y/o and i have horrible credit. I want to have good credit before i get married and start having children. Can someone help?
Voting Question: Could a smart person to give me advice on consolidating debt into a low-interest credit card or loan plz?
Ok, My Boyfriend is hopeless with money.
About 5 years ago he purchased a TV with a Coles/Myer card for $2000.
Instead of paying it off, he just paid the minimum interest. It was a very high interest account.
He's paid $8900 in interest over the years and hasn't even started on the initial $2000.
He's also in debt with a few other things, is currently broke, he racks up massive phone bills, buys things on credit etc etc.
We're also going to Thailand at the end of this month and he has no money. I'm content to let him scab off me as usual but he may need a credit card too.
What would be his best option? Should he get a personal loan with a low interest rate, and pay off all his debts and cancel his cards?
Or should he get a credit card and use it to pay off his debt?
Anything he does is going to work out better than his current situation, the Coles/Myer card has a 20% interest rate or something ridiculous.
Any advice on what sort of loan or card, or which bank, or any other options, would be very greatly appreciated.
(I would lend him the money, but I tried that before, lent him $2000 when we went to Melbourne so he didn't have to get out another loan and pay interest. That was 2 years ago. Never saw a cent and not getting my hopes up.)
Resolved Question: Looking for some financial enlightenment!?
I'm 24 and have approximately $20,000.00 in car/student loan debt. My credit is poor and i'd like to consolidate my debt and finish up school. I would appreciate any educated advice as to my best plan-of-attack on squaring away my finances without long-term hassles.
Resolved Question: Debt question? Getting back on my feet?
I have around £5k of debt spread between different credit cards/store cards (ouch! I know!!!)
Some of the cards I am not paying any interest on at the moment, so I've got my priorities right in that I will pay off the higher interest ones first.
Anyhow, my credit rating is quite poor at the moment - due to the figure I owe in debt/no of credit accounts/agreements I have and also because my credit file has been searched 3 times in the last 6 months. (once, was for my new job; and another time was because I had to open a new bank account as part of the terms of my employment).
I am thinking of trying to get a loan to consolidate my debts. I can get a staff loan from my work, but as I work in a bank, I don't want them to know about my debt as it looks bad that I'm not good at managing my money.
Anyhow, I need to weigh up the options here. How long will it take for my score to improve from the credit searches (they were almost 6 months ago now, but not quite). I would prefer to consolidate my debts and cut up all my cards, so that I only have the one payment to make each month. Would this improve my credit rating if I close all my other credit cards/store cards etc? and therefore only have 1 loan outstanding?
If so, where could I get a loan without paying a fortune in interest if my credit rating is relatively poor?
I have only recently started full-time employment after being a student. I still live at home, so secured loans are not an option.
Resolved Question: What company should I use to consolidate all my credit card debts?
Do you need to have a good credit score in order to consolidate debts in one single payment?
Please any ideas are welcome.
Resolved Question: The following is an excerpt from Lucent Technologies’ Management?
Executive Summary
We design and deliver the systems, software
and services that drive next-generation communications
networks. Backed by Bell Labs
research and development, we use our
strengths in mobility, optical, access, data and
voice networking technologies, as well as
services, to create new revenue-generating
opportunities for our customers, while
enabling them to quickly deploy and better
manage their networks. Our customer base
includes communications service providers,
governments and enterprises worldwide.
We have three segments organized
around the products and services we sell.
The reportable segments are Integrated Network
Solutions (“INS”), Mobility Solutions
(“Mobility”) and Lucent Worldwide Services
(“Services”). INS provides a broad range
of software and wireline equipment related
to voice networking (primarily consisting
of switching products, which we sometimes
refer to as convergence solutions, and voice
messaging products), data and network
management (primarily consisting of access
and related data networking equipment
and operating support software) and optical
networking. Mobility provides software and
wireless equipment to support radio access
and core networks. Services provides deployment,
maintenance, professional and managed
services in support of both our product
offerings as well as multi-vendor networks.
Beginning in fiscal 2001, the global
telecommunications market deteriorated,
resulting from a decrease in the competitive
local exchange carrier market and a significant
reduction in capital spending by established
service providers.This trend intensified
during fiscal 2002 and continued into fiscal
2003. Reasons for the market deterioration
included general economic slowdown, network
overcapacity, customer bankruptcies,
network build-out delays and limited availability
of capital.
We believe that the market for telecommunications
equipment has stabilized
and is starting to grow in certain areas. The
growing demands of enterprises and consumers
for additional services tailored to
their needs is creating the need for a new
convergence of networks, technologies and
applications.
Required
1. Using the Consolidated Balance
Sheets for Lucent Technologies for
September 30, 2004 and 2003, prepare
a common-size balance sheet.
2. Evaluate the asset, debt, and equity
structure of Lucent Technologies, as
well as trends and changes found on
the common-size balance sheet.
3. What concerns would investors and
creditors have based on only this
information?
4. What additional financial and nonfinancial
information would investors
and creditors need to make investing
and lending decisions for Lucent
Technologies?
LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in Millions, Except per Share Amounts)
September 30, September 30,
2004 2003
Assets
Cash and cash equivalents $ 3,379 $ 3,821
Marketable securities 858 686
Receivables 1,359 1,511
Inventories 822 632
Other current assets 1,813 1,213
Total current assets 8,231 7,863
Marketable securities 636 —
Property, plant, and equipment, net 1,376 1,593
Prepaid pension costs 5,358 4,659
Goodwill and other acquired intangibles, net 434 188
Other assets 928 1,608
Total assets $ 16,963 $ 15,911
Liabilities
Accounts payable $ 872 $ 1,072
Payroll and benefit-related liabilities 1,232 1,080
Debt maturing within one year 1 389
Other current liabilities 2,361 2,393
Total current liabilities 4,466 4,934
Postretirement and postemployment benefit liabilities 4,881 4,669
Pension liabilities 1,874 2,494
Long-term debt 4,837 4,439
Liability to subsidiary trust issuing preferred securities 1,152 1,152
Other liabilities 1,132 1,594
Total liabilities 18,342 19,282
Commitments and contingencies
8.00% redeemable convertible preferred stock — 868
Shareowners’ Deficit
Preferred stock—par value $1.00 per share; authorized shares:
250; issued and outstanding: none — —
Common stock—par value $.01 per share;Authorized shares:
10,000; 4,396 issued and 4,395 outstanding shares as of
September 30, 2004,and 4,170 issued and 4,169
outstanding shares as of September 30, 2003 44 42
Additional paid-in capital 23,005 22,252
Accumulated deficit (20,793) (22,795)
Accumulated other comprehensive loss (3,635) (3,738)
Total shareowners’ deficit (1,379) (4,239)
Total liabilities, redeemable convertible preferred stock
and shareowners’ deficit $ 16,963 $ 15911
Voting Question: Should I consolidate my bills into one?
I'm trying to become debt free but i heard that if i go with a company that can consolidate my bills that it doesn't look good when asking for an approval for a loan or mortgage. Is that true?
Resolved Question: I make good money ($150k+) and have OK credit, but can't get a consolidation loan for $50k. Any suggestions?
I have a solid job ($150k+ annually), good home equity ($200k+), but a lot of debt and falling credit scores. If I could consolidate $50k in debt with a reasonable loan I should be good. Any ideas?
Voting Question: Is there any credit counseling company that is legitamate?
Trying to find a legitamite credit counseling company to consolidate debt, however, all I have researched show up on rip off reports as horrible scams.
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