Callon Petroleum: Locking in Today's Futures Prices Would Be Wise Seeking Alpha (blog)
Callon Petroleum ( CPE ) is a small independent oil and gas company that engages in acquisition, exploration, development, and production in the onshore and offshore Gulf Coast region.
The market cap is only $35 million, with an enterprise value (adjusted) of $234 million. Practically all of their debt consists of one issue of 9.75% Senior Notes due December 2010 which are currently the subject of an exchange offer. The notes, totaling $196 million, have been trading in the 60-70 range to yield around 50% to maturity.
Third quarter 2009 earnings before interest, taxes, depreciation, depletion, and amortization (“EBITDDA”) were $12.66mm versus $25.15mm the previous year, caused by a $4mm drop in oil revenues and an $8mm drop in natural gas revenues. (Natural gas was under $4 this quarter versus about $9 last year.) Year to date EBITDDA has been $44.7mm versus $100.5mm the previous year.
Extrapolating their income is complicated by the fact that they
Christmas cold snap for Ukraine?
contracts with Ukraine until the debt is paid off, Kupriyanov said. The two sides have been negotiating for the past two months over a settlement ...
debt settlement or go to court..pls help!!!!?
I am being sued fo a debt that I owed dated back in 2005, I seeked the help of a financial consultant recently and was advised by them that they can help me with a settlement with the attorney office to about 80-90% of my debt. The only set back is that I have to pay them 1K for their service. Please advise if I should settle my debt in court or go through with the financial consultant company and get this over with? My court date is set in May but till now I have not received a summons from anyone. Supposedly they said that they had tried to reach me at my house but couldn't find me. Is there any way that I reach them to get my summons mail to me or I can pick up myself. I don't want them to go to my work. Is it eve possible for me to contact the attorney office and negotiate myself? Pls help!!!!!!!!!! thank you all!!!
I owe the cc company right now $2090. The financial consultant is asking for $1000. They told me plus everything I probably would owe the attorney around $1500 additional to my debt. That would means I would be pay around $3500. The consultant told me he can get me to pay around $2800 or $3100 as an out of court settle. of course not including their 1k service fee. I am just not sure what I should do.....Should I go to court and ask for a monthly installment since each month what I have left is only about $300 max. Should I go with the expert and get this over with? Or should I contact the law office and negotiate for an out of court settlement directly? thank you for your reply btw.
thanks all for your help. Well I did went to court and ask about the case...the clerk told me someone tried to drop off the summons to my house but they couldn't reach me, I assuming I was at work...anyhow, I asked her who issued and deliver the summons..court or the attorney office, and she told me that the attorney office. I manage to borrow some money, and well I contacted the attorney office and they're willing to settle my debt for 69% of it...I managed to borrow some money from a friend because I just want to get this over with and not deal with the law. Well, I paid off and they said they would drop all charges and such....I got a settlement letter from them and I've checking to see if my case has been dismissed but it still show pending...so Im going to continue to check and hound them day and night if my case does not get dismiss...LORD...one big lesson to learn...thanks all!!!
Have you filed an answer to the summons with the court yet??
If not, even though you settled the account you still need to file an answer !!!
If you had previously filed an answer before your agreement, then "you" need to take a motion to dismiss with a copy of the agreement and request the court clerk file it in your casefile !!! (do not depend on them to file their copy of the agreement !!)
Unless the case shows dismissed up to or on the date of the hearing - then go to the hearing !!!
Even though you came to a payment agreement with them and you paid:
If you fail to file an answer they may continue with the case and try to get a default judgment against you.
If you had filed an answer but they failed to stop the case after the agreement/payment, then they are probably hoping that you will not show up to prove to the judge that you have made an agreement and payment to them before the court date. (yes, they often do that)
Their reasons for continuing the case is so that they will end up with a default judgment against you. If that happens, because you fail to answer the summons or go to the hearing, then they will be legally allowed to collect the remaining balance on the account plus court costs/fees and their attorney fees.
If the judge doens't know about the prior agreement because you fail to respond or show and/or they fail to file the agreement/letting the judge know of the agreement and payment, ***then the judge "will" issue a default against you***
If you haven't filed an answer, file one and include in your answer that you and the Plaintiff have come to an agreement for X amount as payment in full. That you had paid the X amount as agreed. That you request the case be dismissed with prejudice. (include a copy of the agreement with your answer)
**the above statement is "only" a bare bones example and should not be used as is - you need to read and use your states RCP (rules of civil procedures) as a guide in how to write up your answer**
If you had filed an answer before the agreement/payment, then "you" should file a motion for dismissal, with prejudice, based on the agreement and payment.
You might click on my profile and click on the last link I have listed.
It is to a "free" credit discussion board where you will find links to your RCP, tips on how to write a proper answer to the summons and for the motion to dismiss, etc., etc.
You can "freely" use "any" information found on the site and "freely" ask "any" questions you may have.
Start reading in the Newbie Forum and then in the Credit Forum.
You will also be able to learn (and ask) how to deal with the issues that you have brought up in the other questions you have asked on here.
The best suggestion I can offer at this point is to seek the advice of an attorney who represents people in your position. Many attorneys will talk to you for a few minutes about your situation without charge.
Are there any assets they can get, close all banking accts, or put in someones name, not yours, if judgement will go after your checking mainly.
What are garnishee laws in your state. Texas and Pa. for instance forbid garnishees, Fl. head of a household w/children is exempt.
Don't panic, that sounds like an old collection trick maybe not, who is telling you this slow down, calm down.
I f you go to court, actually get a summons, the judge will tell you and the plaintiff to go in the back room and settle amongst yourselves, and most collection agencies or lawyers for them usually look for 50%. How can you have a court date in May if you have not received a summons, that sentence makes no sense. The last thing you want to do also is pick up a summons, this may be, and sounds like collection bluff. Contact National foundation for credit counseling, www.nfcc.org find out what is really going on, sound like a good collection agency , or attorney has you shaking before anything ever happens, and don't volunteer to be served helping them.
How much is the debt, larger the debt, better the chance of you getting sued, if this is less than a thousand dollars I question of who ever is telling you this? Something wrong in Denmark, check back and let us know.........and yes you can settle yourself, also check the statute of limitations for suits, ther are a couple of states that have short ones like 3 years, if you haven't made a pmt in three yrs can't sue you.
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://shortlinks.co.uk/4cl
What do I do to get a debt deletion from my credit report?
I've sent a letter to the creditor asking for a deletion in exchange for a 80% settlement. I have not received any responses or reply and its been at least 30 days. How do I request validation of a debt or do I resubmit a letter to the original creditor. This debt is four years old, I don't even though where its from. It is a utility company.
They haven't responded because they don't want to spend the time/energy in doing want you want...The debt collector just wants your money and couldn't care less about your credit.
Send the debt collector a letter via certified mail + return receipt with the following statement:
--------------------------------
I am willing to settle this issue in exchange for your agreeing to remove this item from my credit file upon receipt of $ x from me. This account will be considered settled in full upon receipt of this amount. Upon a receipt from your company confirming agreement to these terms on your company’s letterhead with an authorized signature from a manager, I will mail you a USPS money order for this amount.
-----------------------------------
This is called a Pay for Delete agreement. If they refuse to give you this written agreement first, there's no point in paying them. Never accept verbal promises...get the terms in writing first.
Transferring a credit card debt?
I had opened a credit card for a very good friend of mine several years ago. He owes several thousands of dollars to the IRS and now they are taking $2000 from each paycheck...so he is unable to pay on this card. The credit card company is willing to settle for 80% of the entire bill. I am wondering if I should just pay off the settlement fee (it is about $13000), or if I should try to transfer the debt into my friend's name? Do you think that is at all possible? I'm not sure the credit card company would allow that since his credit is pretty bad.
Thanks for your help!
Unfortunalty transfering this into your friends name is out of the question. You ultimatelyhave to pay the bill yourself. Then you would have to take your friend to court to to recoup your money. The fact that there is a verbal agreement between you two would more than likely guarentee you a win, however, small claims court, depending on what state your in, is only going to give a maximumm judgment of between 5000 and 6000 dollars. to go to the next step of the court system to retrieve the full amount is in my mind out of the question in that the attorny fee's would cancell out the amount your going for..good luck
I don't know what you mean by "settlement fee." If the card company will accept 80% of the balance and clear the debt--take it. Pay it off, transfer the balance, whatever. But if they are charging you fees for that privelege, then it sounds like you are getting ripped off. Usually card companies will make a deal with you if you can't pay, and they don't charge for that as far as I know. Whatever you do, do NOT go to one of those pay-day loan places though. It's a trap and you will get in much worse trouble than you are in now.
If you really trust this person and you think he will repay you, you could just make the minimum payments on this card for him while he gets his finances in order. I would advise against that, though, because the debt will just grow and he may never pay you back. Good luck!
Credit Card Settlement Question?
My mom received an offer via mail offering to settle her credit card debt. For a few years now, she has been wondering how she will ever be able to pay off all her debt. She owes about $80,000 in credit cards and has a credit score of over 700, never paid anything late.
So she talked to these people who claim they could settle her debt at 50% or more and make payments for the next 36 months to them, and then she will be debt free. She's thinking about doing it. But she's not late on anything right now. I'm assuming she will have to become late before they can start negotiating? Basically I'm just trying to protect my mom's best interest and make sure she's not being duped.
http://creditcardwarehouseonline.com
http://creditcardwarehouse.ecreditdirectory.com/
What they do is have you pay them instead of your creditors. This puts you into delinquency with your creditors. The idea is that when they negociate with them they can remove these. However, in reality you are going to be in a worse situation.
The do not even start to negociate with a creditor until you have enough money in their account. During this time the creditor may decide to not wait and file a suit against you. If this happens the courts do not care that you are paying a debt settlement company(and the debt settlement company is not going to give you any help). Also, there is no requirement that the creditor must even negociate with the settlement company.
If she is having problems she needs to talk to a legitimate Credit Counselor that is a member of the National Foundation for Credit Counseling at http://www.nfcc.org .
And secondly you should go for a credit card consolidation company as they have contact with the credit card companies and they can negotiate on your behalf and can make settlements up to 50%....One of the company I know which is reliable is ezconsolidation.com. As this company is listed in BBB.
The best deal for Get More Buyers?
I have searched all over the internet for the absolute best offer.
So far the best I found was at http://moveto.ws/cyi4qhacu
Anyone know of a better deal?
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How do I get more buyers?
So far the only site that offers to help me is http://moveto.ws/cyi4qhacu
I have been trying to start a business online and this site really seems to want to help me.
Anyone have other suggestions?
I even searched:
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sister bought home/cash. she is cosigned on daughters defaulted student loans. Can they take her home?
The student loans which are in default are from private as well as federal sources, amount owed is approx. $240,000. My sister was recently divorced,and received a property settlement amount which covered the $80,000 she paid cash for her home. She resides in Kansas and lives in the home alone. Any chance of filing a "homestead" to protect her home and avoid liens or forced sale of her home to satisfy these debts?
Try filing for the homestead. As a co-signer they will come after your sister for the payment. I doubt if they'd take the house but I'm sure they'd syphon her paycheck.
How to go about settling a delinquent credit card account and old medical bills?
Helping someone w/ a financial crisis due to disability.
Basic details- Card had a 3,000 balance. Company doubled payments due to a change in their terms in which the borrower was not at fault. Borrower unable to pay the higher payments. Late charge of $100 added onto the larger min. due each month. No payments made on card for 9-10 months. I believe it has just gone to collection and the amount is closer to 6,000 with all the fees.
Numerous medical bills from 2-4 years old- most with collections or at least the collection dept. of the hospitals, etc.
IF this person was given say, 5K what are their options? NOT worried about credit rating as it is ruined for a long while any way. Want to avoid being sued and having wages garnished as they are just enough for mortgage and basic necessities like food, electric and gas. Hopefully disability will be approved but no guarantees. Husband has income, wife is disabled. Card is in wife's name only and medical bills are hers- they are the balances after his insurance OR special medical needs that insurance did not cover. Not sure if name makes a difference on either or not. Just wanting a bit of peace of mind and to know paycheck is secure while doing all they can to stop collections and settle these debts best they can and move forward. Wife will never be able to work again and husband is working, litterally 80 hours per week plus a daily 2 hour commute, so gas is about $400 a month which doesn't help.
Will credit card companies knock off the late charges, etc. and say accept the original 3K or less?
How to go about asking? In writing? calling the card company or the collection agency?
ANY help is sincerely appreciated. I care and they are struggling and had a great financial picture before her illness.
Not interested in debt settlement companies or consolidation loan.
Thanks so much!
If I was them, in such a precarious situation I would hold on to the $5k for a rainy day and just pay nothing towards the health bills.
anyone ever hear of Genisis financial systems?
Got this offer today from this group with my providian card that was charged of 12 years ago.
It stated, congrats we are going to make you a very good offer. We are going to settle your 4200 dollar debt for 80%. 840.00 will be your settlement and could be used on your new credit card by Mastercard pearl card. we are only giving you this one Chance to make peace on this account. When it was charged off it was $800.00, this thing is not even on my credit report. I live in Iowa if that helps, i am just against credit cards now and it seems like a scam, i dont trust bill collectors!
This is a junk debt buyer, so you live in iowa and this is way past the SOL They bought this debt for 50-100 bucks and you settle with a 800 bucks and they just make a huge profit. send this letter and this will end the relationship real quick with them. be prepared for another debt collection agency after this debt after they purchased this from Genisis group.
your name
Nationwide Collections
there address
Date: October 15, 2008
Re:
Original creditor/account;
To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on October 15,2008 . According to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested. I am requesting you stop all collection activities including reporting this information on my credit report.
This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.
Please provide me with the following
What the money you say I owe is for
Explain and show me how you calculated what you say I owe
Provide me with copies of any papers that show I agreed to pay what you say I owe Provide a verification or copy of any judgment if applicable
Identify the original creditor
Prove the Statute of Limitations has not expired on this account
Show me that you are licensed to collect in my state
Provide me with your license numbers and Registered Agent
I am sure you are aware of the fact that non-compliance with this request will lead you to legal trouble.
Best Regards,
Are these numbers good for a 30yr, fixed, conforming/conventional mortgage loan?
Price of home: 159,470
PMI: yes
Interest Rate: 6.5 -> builder offered free point to buy down to 6.375
Estimated Prepaids: 1,584
Estimated Closing Costs: 3,793
Total Costs: 164,847
--------------------------------------...
Good Faith deposit already put down: 1,500
Lender Credit: 175
Paid by Seller: 1,595 (interest rate point)
--------------------------------------...
Total Loan Ammount: 159,470
Total Settlement Cost: 2,112
--------------------------------------...
Payment schedule:
no. of pymnts: 120 Principle & inter & PMI : 1,123.80
no. of pymnts: 35 Principle & inter & PMI: 1,021.47
no. of pymnts: 205 Principle & inter: 994.89
--------------------------------------...
Notes:
I didn't have enough down payment (20%) to get out of PMI because i recently spent 15k to get totally out of debt (paid off car, student loan, etc..). I now have 0 debt and plan to pay 400$ a month extra on my mortgage to cut the # of yrs and end pmi sooner.
Oh yeah, with PMI, closing costs, the APR is 7.24%
6.5 % is a nice rate if your score is under 660 if not its a bit high also looks like they are charging you yield spread. ok yes they are charging you yield spread! remember APR is calculated over your 30 yr mortgage so the fees you pay to close will not rase the rate on apr that much.
todays par rate for someone who has 680 + is about 6.125% It also looks like this is not a fixed rate mortgage typically the payments would not change unless it was some kind of hybrid ARM product!
chek into anouther lender with the figures you have they should be able to beat that deal! try my favorate!
se if they will beat the deal you have! if they can you are ahead of game!
Http://www.DirectLendingPlanet.com
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