I'm seven thousand dollars in dept and I recently lost my job. What should I do?

Question

Is filing for bankrupsy a good idea. Any suggestion.

Answer 1

You need to seek a financial advisor so you can learn to manage your money! You will need to get a couple of jobs and get your self ahead and learn from your mistakes! DO NOT FILE BANKRUPTSY

Answer 2

No, do not file for bankruptcy. Give yourself a chance. You just recently lost your job, do you qualify for unemployment while you get back on your feet? Also, start writing up that resume and putting on your game face for interviews. You can do this!
Once you get your job, start eliminating that debt. Pay more than your minimum-always. Be thrifty. And save money in the event that something like this happens again. Also, many companies have a payment protection plan. For a small fee with your bill you can purchase a sort of insurance in case something like this happens again. If you don't have it now, I would recommend it for the future.

Answer 3

First read up on some sites on how to repair your credit. After you are informed, but before your bills are late, contact the companies you owe money to and set up a financial payment plan. Some places will even have a grace or forebearance period. You want to call them before you are late. Listed below on the second link is information on what to say to the creditors and the first link shows you ways to "stretch" your dollar so that while you are out of a job, you can make the money you have last as long as you can. Good luck.

Answer 4

Get a job. Call your creditors and let them know you have lost your job but want to pay off the debts. They may be able to help you with payments and interest rates. You have to show them that you are willing to pay off the debt. In the meantime, you need to look hard for a job. Take whatever you can get so you can start making payments and then keep looking for a better one.

Besides, bankruptcy is not as easy to file for as it was. The laws have changed and now most chapters you have to pay back the debt anyway. Plus, it is a mark against your credit. If you pay it back then, your credit won't be affected like it would with bankruptcy.

Answer 5

1. Start looking for a new job ASAP!
2. Call all of the companies that you are in debt with to let them know about your situation so they won't start legal proceedings if you can't pay your bills.
3. Don't listen to these bozos on here trying to sell you the make a fast buck by working from home deal, they just want your $ or to make $ off of you.
4. Find a Consumer Credit Counseling agency in your area.

Good luck!

Answer 6

you should find at least 1 new job.maybe you can borrow some money from family.most importantly know that god is there for you and that he makes things happen for a reason.i would recommend consulting your insurence agent,mine isn't the best. if you have a really neat talent, then on the days off of your job (if you find one) show off on the streets and have a jar of tips so people can give you some money. the most important thing is that you don't let this ruin your life or your christmas.
if you have a supporting family then you should ask for some aid in your financial struggles

Answer 7

You wouldn't qualify for a Chap7 - only a 13 which is a 3-5 yr plan.. $7,000 is Nothing - a mere annoyance......

Obviously, take the first job you can.....holiday help is out there.....2nd job too......The less you are home, the less time you have to spend more money you don't have......Lose the cable/lose the internet/increase the deductible on your car insurance/

Not forever, just for a short period of time....Its like antibiotics....you don't have to take it forever - just til you're better....

You didn't get into credit debt overnight.....give yourself time to get out....

Grab your statements, the phone, and a good cup of coffee and start calling your creditors and ask for help/leniency.....whatever.

Answer 8

Stop charging, call and make arrangements for payments and keep them.

Tell them your joining the Army and they might knock off all the late and over limit charges lowering what you owe by about 50%.

You don't owe enough to claim bankruptcy.
Unless it would take you seven to ten years to pay it off.
Chances are you can consolidate that amount on a lower fee card before then and pay it down.

Answer 9

1 ) well move to black people area.
2 ) Share you appartment with 3 people ( like illegal alliens do )
3) go for burger kind or any fast food waiter ( dont forget you need money)
4) stop wearing expensive clothes just buy as cheap as you can
5) Eat Food that is really cheap dosent matter it got FAT's in it, you can do excersie to get rid of 'em.
6) get 3 jobs like students do illegally in america.
7) try to save as much as you can.

Hopefully these lines will help you out of getting this bloody time.

Remeber...... there is always a light at end of tunnel and this tim you are in middle of tunnel.

be positive and you will get rid of this mess.

Belive in your self!!!!

Answer 10

NO!!! Get another job. 7000 won't be easy to pay back, but it is definately not worth filing bankruptcy.. Besides, if you would have to do that, run out every card you have.. then do it. hehe Just kidding Good luck with your financial future. Set your mind to it, and it will be gone...eventually.