2006-06-27 02:01:49 · 9 answers · asked by Just here 2 in Business & Finance ➔ Personal Finance
The most important thing you can do is pay your bills on time. After that try to reduce your outstanding debt, even if it is a little at a time.
2006-06-27 02:05:09 · answer #1 · answered by Thrasher 5 · 0⤊ 0⤋
Having a limited income will be a problem. You might have to get a part time job for extra income to pay on the debts. If that isn't going to happen, then you will need to budget aggressively and follow it so you will have more money to pay on things. Also, you can call the bank that you use and they might have something or someone that is skilled in coming up with a plan.
If you own a home, call your mortgage company and see about a equity loan or line of credit. You can consolidate debt and that will get everything paid off at once and you will have one fixed payment each month. Plus, the interest can be deducted on your income taxes and get you more back in April.
If all else fails, call a credit counseling service. They work with a lot of creditors and they can get your payments down and paid off at a lower interest rate. Look on the net or in a phone book for "Consumer Credit Counselors".
2006-06-27 02:11:44 · answer #2 · answered by brittme 5 · 0⤊ 0⤋
Divide the total balance of each liability you owe by the min. monthly payment. Pay off the debt with the smallest result first. When that debt is payed off include that payment with the payment for the next debt. Continue until aall debts are payed off. The total amount you pay each month will stay the same, allowing you to pay more towards each debt as the others are payed off. Make sense?
2006-06-27 02:15:43 · answer #3 · answered by rush2psu 2 · 0⤊ 0⤋
Don't extend you credit cards pass 30% max. You do need two trade lines on your credit report. Never miss a house payment or car payment, these effect your credit the most.
2006-06-27 02:13:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
That is tough - but my best suggestion is to get a secured card when you can afford to put out the money - then use it alot and always make the payments on time.
2006-06-27 02:05:06 · answer #5 · answered by drewwers 3 · 0⤊ 0⤋
Don't just fix your credit, fix the problem. read Dave Ramsey's book and it will answer your questions and give you help. www.daveramsey.com
Good Luck
2006-06-27 02:06:55 · answer #6 · answered by snvffy 7 · 0⤊ 0⤋
I went to credit counseling and they helped with everything, but it takes awhile all you do is pay them and they pay your creditors and sometimes they get the creditors to stop late fees and finance charges.
Credit Counseling Foundation
http://www.godebtfree.com/
1-800-790-3882
Good luck!!
2006-06-27 02:09:02 · answer #7 · answered by christimarie2001 2 · 0⤊ 0⤋
get a parttime job to pay off creditors
2006-06-27 02:04:33 · answer #8 · answered by nastaany1 7 · 0⤊ 0⤋
go to your bank and ask for some help to lower your interest rate by refinance your loins
2006-06-27 02:16:20 · answer #9 · answered by COUNTRY BOY 1 · 0⤊ 0⤋