Like most young people who get their first line of credit I have managed to screw up royally. I don't have what is considered serious debt by the companies who help people get out of debt, but it is still bad enough that I am slowly getting in a deeper mess. I was doing fine until some medical bills came along, and now I am close to losing my truck because of some other bills that had to be paid to get treatment. Anyways what I am getting at, is there anyway to get financial help for debt problems if you have a good job, but you just can't pay all of your bills each month?
2006-09-17 13:27:31 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Have you considered debt counseling? There are nonprofit and profit organizations who will do it for a small fee. They can lower the interest rates, place you on a workable budget, and you can get out of debt in a reasonable time period depending on your income and debt size. All it will take is once it is set up that they will require a monthly payment from you until it is paid off. I have provided some links to some organizations found on the internet. I do not know if they take clients in your area though, but it can give you an idea of how it works. If none of these places takes clients from your area, they should be listed in the phone book.
2006-09-17 13:44:33 · answer #1 · answered by dawncs 7 · 0⤊ 0⤋
First of all you are not alone and its not only young people that get into the trap you are in. Focus. You can get out of this mess. It may take a little time but there's hope if you believe in yourself.
The fact that a debt management company isn't your answer is really a good thing. There is hope for you. Again, you have to believe in yourself.
You have two options right now... you need to either increase income (roommate, part time job, sell unneeded things, ask for a raise at work) and/or decrease expenses (can you bail out of the car loan voluntarily and downsize? can you stay away from the morning cup of cofee and newspaper or whatever little things you buy each day? can you give up either your home or cell phone?)
I am not saying that any of these options are ideal for you but foregoing your immediate pleasures will pay off down the road.
Wny not start to get a little part time business going for yourself with selling items on Ebay, scheduling classes for older people to learn computer skills, or whatever you are good at to bring in an extra $10 a day. That $50 a week is $200 a month and may be just what you need to catch up on bills and get ahead in time.
Get those medical bill companies on the phone and explain your situation. Trust me, they understand. Avoiding the bills won't make them go away but rather could turn to garnishing your wages. Try to get that truck caught up and if you cannot afford it, get rid of it and get something cheaper.
If you have learned from your mistakes, you need not beat yourself up over it.
Once again, believe in yourself!!!
2006-09-17 13:56:36 · answer #2 · answered by Anonymous · 0⤊ 1⤋
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2016-10-15 02:45:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you need to know that they do not charge interest on medical bills (unless you put them on the credit cards). medical companies will always work with you to set up payment plans intrest free. so next time, do that & pay your credit card payments.
2006-09-17 15:32:30 · answer #4 · answered by Gabrielle 6 · 1⤊ 0⤋
you might try a signature loan or if you have collateral that would be better. but if that is not an option you might try talking to companies you have debt with and see if they will work with you on debt payments. they might. good luck
2006-09-17 13:41:23 · answer #5 · answered by fn_49@hotmail.com 4 · 1⤊ 0⤋