Now how do I get out of this hole & meet the deadlines that was going to meet for me?
2007-02-15 09:09:56 · 5 answers · asked by Rhonda & Cats 5 in Business & Finance ➔ Personal Finance
get a second job or sell something.
2007-02-15 09:13:02 · answer #1 · answered by bldskd9 3 · 1⤊ 0⤋
cut up your credit cards and go talk with Consumer Credit Counselors. They can usually negotiate a payment plan and lower interest rate than what you could get on your own.
If your 'deep hole' is not credit card debt then look at selling something (example: if you have a newer car worth a few thousand, sell it and get a cheaper car.) Get another job, work harder, try to negotiate a payment plan with whomever you owe money to.
Whatever you do, I would NOT recommend borrowing more money because that would increase your debt to pay another debt...just knuckle-down and take care of your finances and credit...it's probably going to bite you for a few years, but you can eventually improve your credit score and climb out of the credit hole. Most of all, you should learn from this situation and ensure you never get into it again.
2007-02-15 09:23:37 · answer #2 · answered by VodkaTonic 5 · 0⤊ 0⤋
What the hell? It was applied to a student loan? Wow I've never heard of this. Well if the student loan was through the government then I think you up shitcreek because that is all the federal governments doing.
2007-02-15 09:13:55 · answer #3 · answered by nickhawkins21 3 · 0⤊ 0⤋
Thats what they mean by 'never count your chickens before they've hatched.' You can't count on money unless its in your hand. Just work on a plan B. It sucks but you'll find a way out, just calm down and start working on a budget. You should also call your creditors to check on lowering your percentage rates as well as crediting back any late fees. Most companies work with you if you are having a financial hardship.
2007-02-15 09:14:55 · answer #4 · answered by truly_insightful 4 · 0⤊ 0⤋
MAN!! Do I know that feeling! My student loan dates back to 1987!! They still have $1300 to collect. However I have NO OTHER MEANS of funds to pay them back - so they might as well help themselves. As far as your case - unfortunately they have that right being Govt. Can you talk to friends, relatives or 'small loan companies'? Good luck!
2007-02-15 09:18:48 · answer #5 · answered by curiousgeorgette 4 · 0⤊ 0⤋