We are over 300,000 dollars in debt and I have no clue what to do. We have done so many loans I am just so upset
2007-01-22 11:01:27 · 9 answers · asked by emo_4_life 1 in Business & Finance ➔ Credit
Don't file bankruptcy.
You can get it under control.
Go to Oprah's homepage and check out her "Debt Diet" section.
It gives great pointers on how to get back on track.
Best of luck to you!
2007-01-22 11:10:03 · answer #1 · answered by Josi 5 · 1⤊ 0⤋
$300,000? Good luck with that. If it really is that high, my best bet would be to file for bankruptcy. You'll screw yourself over for life basically when it comes to finances, but c'mon now... $300,000 in debt?
2007-01-22 22:20:16 · answer #2 · answered by Jamie316 3 · 0⤊ 0⤋
300,000 is just too much for to pay off, it will takes you years to even pay if off. Might as well file for bankruptcy and 7 years later your credit report is clear... visit http://www.hotloansources.com for more free tips and advices, they also provide huge sources for all type of loans
2007-01-22 21:39:50 · answer #3 · answered by Beyond my control 1 · 0⤊ 0⤋
Unless you have a LOT of money, bankruptcy would PROBABLY be your best option. However, consider credit counseling first. See what your minimum monthly payment would be, and how ong it would take to pay off. If it would take you more than 3 or 4 years to payoff bankruptcy would probably be your best option.
2007-01-22 20:21:18 · answer #4 · answered by yellow_raven1978 3 · 0⤊ 0⤋
if you have a house, sell it. start over. you should have a house at 300,000. get rid of your biggest debt and don't buy any more debt.
2007-01-22 21:15:46 · answer #5 · answered by Debt Free! 5 · 0⤊ 0⤋
See a credit counselor immediately. What they do will be determined by your income, and the cooperation of your creditors. I am assuming that the 300k includes your home.
I wish you well in resolving this issue.
2007-01-22 19:20:50 · answer #6 · answered by Sweet Lady Mom 2 · 0⤊ 0⤋
Talk to a lawyer about bankruptcy options. Unless you are a millionaire or own a house, you will probably not be able to pay 300k back. Start on a clean sheet again.
2007-01-22 19:10:09 · answer #7 · answered by Ivan 5 · 1⤊ 4⤋
File bankruptcy. I'm sorry about that.
2007-01-22 19:08:43 · answer #8 · answered by Topanga 3 · 1⤊ 2⤋
Stop spending!!
2007-01-22 19:09:30 · answer #9 · answered by Jim C 6 · 3⤊ 0⤋