with good reason. They are theives also. Can anyone give me an intellectual answer, and not that old its your own fault stuff, you never should have got into it in the first place. Please HELP!!!!!!!!!!
2006-11-03 00:51:39 · 11 answers · asked by ron p 2 in Business & Finance ➔ Personal Finance
this is what I did and it helped me thus far.
you get a list of selected lenders, updated every so often.
Only the ones with good history make the list so it saves you the hassle of looking/asking around and not knowing who to trust. Chances are you'll find some small bank near you like I did
http://debt-consolidation.50webs.org
2006-11-03 16:09:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Been there... done that!
The first thing you do is QUIT USING THE CREDIT CARDS - NOW! Destroy them. They are NOT your friend. Learn to live on cash.
Don't use one of the advertised agencies. They ARE thieves, and they can't do anything you can't do yourself.
But you need a plan.
First, you have to get a handle on what you owe. It's hard, but being in debt is hard also. Write down everything you owe, what the balance is and what your monthly payment is. Everything, not just credit cards. Be brutally honest!
Then your income. Do you earn enough to make the payments? You may not, so you will know right away that your present plan isn't working. You'll have to increase your income or decrease your monthly outgo. Cuts can be in your cell phone plan, cable, internet hookup, telephone service, eating out, etc. Getting out of debt isn't nearly as much fun as getting into debt. Make it your main goal in life for the moment. Keep the lights on, a roof over your head and keep eating... just not in a restaurant. Your entertainment will be going to parks and hanging with your family.
The first thing you need to do is to get your hands around this problem. You can't solve it if you don't know what it is. You will have to sacrifice, but it is doable. A great book is Financial Peace by Dave Ramsey. Good luck. You've just made the fist step to securing your financial future!
2006-11-03 01:08:20 · answer #2 · answered by Momma Jo 6 · 0⤊ 0⤋
Outside gatting a debt consolidation loan or contacting your creditors,I would use someone like Credit Guard.I know they sound like thieves but when I got married I unknowingly married(my now EX wife) into 27,000.00 of credit card debt.I made the decision to use Credit Guard to ease the burden.My debt was reduced and the payments were VERY easy to handle.
Make sure you go to free annual credit report online to ensure you're addressing everything on there first.Everyone makes mistakes with there credit.There are ways around it.Try contacting your creditors first to reduce the monthly payment.If that doesn't work use one of those agencies.They really aren't as bad as you think if you shop around.
2006-11-03 00:59:14 · answer #3 · answered by joecseko 6 · 0⤊ 0⤋
Most credit card companies want to get paid, try to renegotiate your interest rate and close the account. If your credit card company refuses to renegotiate you can try an agency, but be aware many of the nonprofits are shells trying to funnel you into a home mortgage (so they can get your home too).
Work out a plan and decide what your priorities are, try to avoid bankruptcy, but investigate it to see if it fits your situation (usually the only good time is if you face insurmountable medical bills) with the new changes however, it may mean handing over control of your finances to someone who does not share your priorities.
When it comes to money your basically limited to two things, increase income and reduce expenditures. Cancel services you do not require. Newspaper subscriptions, cable television, dance lessons, etc.
Prepare a budget and stick with it, ensure it is something you can stick with.
2006-11-03 01:04:59 · answer #4 · answered by Supplicant 3 · 0⤊ 0⤋
The best way is to pay down your debt, smaller amounts first. Or you can get a hold of the Consumer Debt Agency. Repaydebt.com is a good one, It is a not for profit and its free. I would cut up all my credit cards and never use them again. They are evil, I know.
2006-11-03 00:57:00 · answer #5 · answered by wizzygirl10 3 · 0⤊ 0⤋
http://www.*************/index.php?ref=1... Ok this sight really works. I can guarantee you from my own experience hat you will make tons of money on it.All you have to do is take surveys and get paid!This is a opportunity you don't want to pass up! You can make even more money off this sight by leaving refferals - like I am doing right now. you just leave a link thingy (up there) and you get 20% of what the person makes. (cashcrate forks that 20% not you) and then you get 10% of whoever that person reffers! Its really easy and there is no pressure to complete surveys. It is 100% free to join, there is no risk at all. I couldn't believe how much I made on it! Good luck!
2006-11-04 05:36:22 · answer #6 · answered by TheSkysTheLimit 2 · 0⤊ 0⤋
i am not sure why you are in that debt but i think it might have something to do with your life style or your familys you need to make serious sacrifices take on more work to get more pay if you don't people will make certain changes people will make them for you irs collection angencys and so forth you need to stay away from bankrupty save and scrimp every dollar any where you can take on roommates to help you pay friends once you work it out and get caught up through will power you need to keep saving perhaps invest so you have something enough to retire on or you may not be able to retire the way you want you need to make changes before people make them for you i have faith in you
2006-11-03 01:03:21 · answer #7 · answered by Talking Hat 6 · 0⤊ 0⤋
hard to give a strategy when i dont know what assets you have. I refinanced the house and paid a bunch off and cut them up, closed the accounts. If you dont have any assets, and youre using one to pay another, then you need to start closing accounts...close them all but the lowest interest rate, and talk to them all and arrive at a reasonable payment plan.
2006-11-03 00:55:39 · answer #8 · answered by David B 6 · 0⤊ 0⤋
i don't know if you have already tried this but try writing to the credit card company and telling them your position offering them a certain amount of money each money that you can afford (i.e £5 per week)
they should accept it and if they don't between you, you should come to a compromise
hope this helps you
2006-11-03 00:56:02 · answer #9 · answered by D.I.L.L.I.G.A.F 4 · 0⤊ 0⤋
You are already on the right course by recognising you are in debt and need help.
If you are from america then try some debt councillors first.
2006-11-03 00:54:04 · answer #10 · answered by Spadesboffin 3 · 0⤊ 0⤋