2006-10-21 12:03:52 · 10 answers · asked by vakas j 1 in Business & Finance ➔ Credit
You can talk to a lawyer about debt consolidation or if it is right for you you can file bankruptcy, which might be a good thing for your personal needs.
2006-10-21 12:12:37 · answer #1 · answered by Jessica 6 · 0⤊ 0⤋
You'll probably want to cut down on spending. Buy only the necessaries and off brands like the great value brand at wallmart. The more money you don't spend a month the more you have to help pay off the debt. Also you'll want to make sure you make a budget. A good budget with the lowest payment on everything as possible. Try talking on the phone less and going down to basic cable. Anything that you can limit is good. You need to be able to cut down as much as you can now so you don't have to take out a lone or not one as big as you would now. The more loans you take out the more you end up spending to pay them back in the long run. Also cut it down to 2 or 3 credit cards. I suggest Discover. My hole family uses it right now and you get like 1% cash back.
The best bet would be to find a friend that is good at financial advising or get a financial adviser. I'm going to college right now for this sort of thing and there are many options. You just have to know more details to be able to find the best option. Also try to maybe take out an extra job if possible. Like I said the faster you pay off your debt the less intrest you pay.
I hope this helps and good luck.
2006-10-21 19:23:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Just by what the price says on the bill once you get in a better position you can pay 15% more than the bill says. This is the way you get out of the debt.
2006-10-21 19:12:52 · answer #3 · answered by LVieau 6 · 0⤊ 0⤋
Try getting a good job and pay off all the debt you have incurred. Quit looking for the 'easy way out', and own up to your irresponsibility. Lastly, ask yourself why you thought that the money that was 'fronted' to you to serve some undoubetly selfish 'want', was free.
2006-10-21 19:17:05 · answer #4 · answered by scooter 2 · 0⤊ 0⤋
There are lots of debt negotiators on the internet, get your bill discounted, get you a lower monthly payment, etc. I hear they can cut your total debt 40% or so.
2006-10-21 19:11:05 · answer #5 · answered by The Advocate 4 · 0⤊ 0⤋
Go to Debtadvice.org...it has good advice as well as a list of reputable debt consolidation companies in your area.
2006-10-21 20:31:21 · answer #6 · answered by kat h 2 · 0⤊ 0⤋
read dave ramsey...very good. call all your creditors and try to work out a payment system. they might work with you, if not, try getting a consolidation loan and low % to pay off the cards then the new loan will cost less per month.
2006-10-21 19:12:00 · answer #7 · answered by Eric 3 · 1⤊ 0⤋
This is the best plan with step by step instructions and it works.It takes commitment but feels good when your done.
GOOD LUCK. you can do it.
http://www.oprah.com/money/debtdiet/money_debtdiet_main.jhtml
2006-10-21 22:40:42 · answer #8 · answered by barbara w 2 · 0⤊ 0⤋
Plenty of good advice here.
2006-10-22 04:03:18 · answer #9 · answered by Anonymous · 0⤊ 0⤋
by paying more than min, or get a loan with a low interest rates.
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http://www.bestcreditrates.net/
2006-10-21 19:35:08 · answer #10 · answered by bijan a 2 · 0⤊ 0⤋