can anyone help?

Question

i'm tryin gto get myself out of debt, what do i need to do? i want my life back. i want to start a family. i want to buy a house. how can this be cleared.

Answer 1

Bankruptcy is an option of last resort. I did it just over a year ago and have no regrets. I had been out of work for a couple years, and as a single mother I used my credit cards to get by. Prior to that I had excellent credit, but the payments got so high that I could no longer make the minimums and my car had over 150,000 miles, so I had no choice.

Earlier in my life, I married a man with debt and was able to pay all that off. Here's what I did:
First take inventory of your debt, and sort it by interest rate.
Pay the highest rate cards (like department stores and gas cards) first. Then close those accounts.

If you can consolidate, it can help -- just be careful to check the terms of those offers and how long the lower interest rates are good for.

USE ONLY CASH AND DO NOT BUY ANYTHING THAT YOU DO NOT ABSOLUTELY NEED TO SURVIVE.

LEARN TO DO WITHOUT THE MANY LUXURIES WE TAKE FOR GRANTED (cable TV, cell phone, flashy car and accessories, designer clothes/shoes/handbags, expensive haircuts/color/manicures, eating out, going to movies, etc.).

Back then when I was first married, I was still in grad school and got pregnant while taking the pill, so that was another burden. My son did not wear Baby Gap or the other labels that were popular back then; he was dressed off the clearance rack at low price department stores -- and he was still complimented for being cute and was well liked by people he met. Our apartment was furnished with hand-me-downs. My car was 4+ years old and paid for, and my husband drove used cars.

It's called prioritizing and living within your means. Good Luck to you!

Answer 2

The first thing you need to do is list every debt you have, and how much you owe. Sometimes the fear of the unknown can give you panic attacks. Putting it on paper helps relieve that fear. It lets you know exactly what you are facing. Once you have done that, start by paying off the debts that have the lowest balances so you can free up some cash to pay towards other debts. Also focus on the debts that have the higher interest rates.
Next you need to focus on materialistic things. Focus on some of these: Cell phones, Cable T.V., eating out, entertainment, vacations, etc. If your cell phone bill is always running over, get on a prepaid plan. If you must have cable because you live in a city that only has 3 channels, go to limited basic, which is at least $20 cheaper, but only gives you the super stations and a few others. Eating out every day at $5 a whack will cost you at least $100 a month.
Bottom line, is the stress worth all these material things. Don't say "I can't live without them", because hard working people do it every day. Life is for the living, get out of debt so you can start enjoying it. :)

Answer 3

The first step is a plan and honest with yourself. Start off with a budget of what you are spending now but also look at your credit cards. What are you buying on credit ... meals out? clothes? money that just escapes you??? Look around your home... do you have things that you've bought that once seemed a good deal that may be collecting dust? Consider selling stuff and applying that money to your credit cards. Don't be too quick to buy a home until you are out of consumer debt and have a little cushion in case of lost income. So many people rush into buying homes to pursue the American Dream but find it a nightmare when the homes are foreclosed upon because of lost income, disability or find the mortgage payments have increased due to what was called "creative financing." Make a list of everything you buy frequently and infrequently. That 60 cent can of pop? write it down. Set up a savings account and put in money for your cushion so you no longer have to charge and pay interest on things. Save credit for big things like home, cars, etc. Save credit cards for emergencies. You can bail out of debt but get a plan and stick to it. Read books about money saving tips from your local library and learn to shop by value instead of price. Dont go without but satisfy yourself in other ways. Learn to compromise with yourself that you can't have it all.

Answer 4

Cut up the credit cards....keep one for an emergency. When I was in debt, I gave myself a weekly cash amount and used about 95% of my income to paying off the debt. I paid off the smallest accounts first to get them off the books then focused on the credit cards with high balances since they would take a much longer time. Paying a minimum on all 30 cards was not working. Basically I paid off 1-3 cards per month and paid the minimum plus $50-75 on all the others. It also helped to write down your payment plans so that you can have a goal to reach. I would always know when each card would be paid off...it helped mentally to know when the card would be paid off and it felt good reaching the goals set.

Discipline is the key....its easy to get in debt but more difficult to get out of it...put a plan together and get a debit card.

Answer 5

Maybe start by getting a job, take things slow then work your way up. Being in debt is such a mess and it made me sorta depressed. But just live a fun healthy lifestyle, and always make payments before due dates. You want them to show good record of payments and stuff, and after in a few 1-2 years you'll be able to take a loan for a house, and other things. Best of luck.

Answer 6

The first step is to stop the spending understand how you got into this situation, get all you debts together and figure if you can afford to pay them off with time....it sometimes is good to contact a credit counseling agency to help you....if you still have good credit see if you can get one of those low interest cards and transfer all you debts to that one card and cut the rest up...and set a goal of six months at a time maintain strict to the goal and then extend that as you reach the six month mark. discipline is important....you only know know your situation.....just don't give up take it as a lesson and be careful in future.....good luck.......

Answer 7

You can declare bankrptcy.
Look in the yellow pages for a civil attorney that gives a free consultation.