how to lower monthly bill payments?

Question

my friend is about $5,000 in debt and his job isnt really helping much

i know theres companies that have that thing that help lower the payments, but are they safe to use.

Answer 1

Change the job.


http://sndn21.hi5.com
http://sndn21.hi5.com
http://sndn21.hi5.com
http://sndn21.hi5.com
http://sndn21.hi5.com
http://sndn21.hi5.com

Answer 2

There are companies that will do this, but they do affect your credit rating. He will get no more credit if he works with one of these companies.
If this is credit card debt and he is current on his payments, he can each credit card company and tell them that he has received several card offers with lower interest rates and is considering go with them unless his interest rate can be lowered. They will usually offer a lower rate immediately to keep a good customer. He can also shop around for a lower auto loan interest rate and refinance. This only makes sense if the loan origination fees are not so high that they eat up any savings he would get.
In addition, the part time job someone mentioned earlier would knock out the debt quickly. If he socked everything he made at a part time job as extra payments on the debt, it would be gone within a year.

Answer 3

May have to get a better job, work more hours, negotiate the rates with the company, work another part time job.

Those companies that negotiate for you will ruin your credit. The fact you used them will show in your credit report for 5-7 years as a negative. Your friend can do the same negotiation them self with out damaging their credit. Check Suze Ormans book or go to www.myfico.com for more

Answer 4

5 grand?

not much these days....
part-time job would pay that off.

has he considered working part-time?

Answer 5

stop spending