I have a better job, lowered by spending drastically to only necessary items, talked to my creditors to work something out with no success, applied for personal and debt consolidation loans with no success, less then a month to come up with a solution. I can't stand the pressure with another job (altho I will take one if I have to). I am staying with my sister helping her with rent and health situation. I am out of options and sanity. Can anyone give me a solution other then doing something illegal?
2007-01-11 02:12:37 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you did all this, you're in the good way.
Put a max every month on your bills.
Pay you smallest bills first, and try to negociate them with a one-time payment (even if you can't pay other bills that month).
When you speak to a creditor, don't forget that YOU are working to pay interests, and that YOU know when you'll be able to pay them back.
Respect your word.
2007-01-12 20:44:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Go see a bankruptcy lawyer. They will advise you(most have free consultations for a first visit). They can tell you if it is worthwhile to try and pay everyone back or if bankruptcy is an option. If you are not making enough for an affordable payment plan with everyone, then it may be your only option. They will also give you the names of credit counseling services that can help you figure out what can be paid.
And of course, if your bills are that far behind, a lawyer can stop any garnishments that could come up and be applied to your paycheck at a new job.
Good Luck!
2007-01-11 02:19:54 · answer #2 · answered by Jen 6 · 0⤊ 0⤋
I can think of 2 things
1) have someone from a debt help company talk to your out standing loan officers. on your behalf. You may just be talking to a clerical indivisual who cannot make a decission of help, but is doing their job to the letter. This debt help company maybe able to freeze having added interest accumlate so payment do work against principle.
2) Always pay a fewdoors each month. Call the companys again and demand to speak to a supervisor, better yet make an appointment and see the people in person. Its easy for them to say tuff when all you are is a voice - when in person you add that you are like them human.
2007-01-11 02:21:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Looks like you're at the end of you're rope. It's no reason at all to go insane over it. I'm sure that you learned that having debt of any kind its more than just a headache. Take a decision to ease you're life and not be at the end of the rope any more. If you have to do Bankruptcy could be you're solution. I know somebody that went through the same thing and its doing fine now just a year after bankruptcy. Money is not everything in life. Look for other ways to relax yourself.
2007-01-11 02:27:45 · answer #4 · answered by flyoverall 2 · 0⤊ 0⤋
You can try looking into debt consolidation agencies, which negotiate with the creditors on your behalf and then you make a single payment to them. You have to be very careful and do your research, though, because there are a lot of scam companies out there. Best bet is to search for a non-profit, charity based organization, and then cross reference it with the Better Business Bureau.
This is the method that I took...It took four years to pay off, but I did it, and now all my old outstanding accounts are resolved. The company that I went through was Harbour Credit Management. http://www.40debts.org/counseling/debt-consolidation-company.htm I have seen negative things reported about them on the net, but my experience was entirely positive.
Good luck!
2007-01-11 02:26:17 · answer #5 · answered by Woz 4 · 0⤊ 0⤋
If you have called your creditors and they are refusing to help, try speaking with their supervisors. If they have already set you up on payment plans, talk to a bankrupcy lawyer. They might be able to point you in some other directions, even if not bankrupcy. But until then, just keep making your payments, and try to pay a little extra, I know it sounds hard, and I am giving advice I'm not taking, but try. Seriously, the bankrupcy lawyer may know of some options/agencies you haven't thought of yet!
2007-01-11 02:23:07 · answer #6 · answered by Jase 3 · 0⤊ 0⤋
first, get your self an answering machine. set it to answer on the first ring. lot of creditors do not like talking to a machime.do not answer any calls on that system, but get a cell phone, and give your number to no one, not family either.
cut up every credit card that you have, keeping only one, andtake that one, and lock it up some ware safe.
purchase only what you need and nothing more.
Good luck
Debt destroyed our marrage , with all the fighting, and constant calls
2007-01-11 02:22:26 · answer #7 · answered by duster 6 · 0⤊ 0⤋
There are several actions you did not mention. one would be to get a Finance consultant. two would be File Chapter Eleven. Three would be Bankruptcy.
2007-01-11 02:23:54 · answer #8 · answered by oldmanwitastick 5 · 0⤊ 0⤋
have you considered declaring yourself bankrupt. It will take years to build up your credit rating but by the sounds of things its not too good at the moment.
2007-01-11 02:17:12 · answer #9 · answered by well_clever_i_am 3 · 0⤊ 0⤋
Pay what you can when you can.........as long as you're making an effort..........the law is on your side.........futher more when paid off Destroy All Credit Cards ! ....never again
2007-01-11 02:19:22 · answer #10 · answered by ? 6 · 0⤊ 0⤋