What should I do?????????????
2007-05-25 04:49:21 · 10 answers · asked by Strainkat 1 in Business & Finance ➔ Personal Finance
Iraq. You're within enlistment age. 4 years, your debt is gone, probably your marbles and a leg, but at least your debt is gone, right? And you're a hero.
God Bless You.
2007-05-25 04:57:00 · answer #1 · answered by Nick V 4 · 1⤊ 1⤋
You only think you can't make payments. Go to the library & read a Dave Ramsey book. Do his "debt snowball"....
Rank your debts in order of dollar amount, largest to smallest. Pay the minimum on each one every month, except the smallest one, pay everything you can earn, find, get from selling stuff, etc. on that one until it is gone. Repeat as necessary.
If you don't have enough to pay minimums on all your debts, sell something else, move to a cheaper home, get an extra job...
Avoid bankruptcy... whatever the law says, it WILL follow you around forever...
2007-05-25 11:57:24 · answer #2 · answered by Anonymous · 4⤊ 0⤋
You make feel like your in over your head and maybe you are but debt isn't something that goes away overnight. Don't stress over it everyday because sooner or later you'll start buying things to cheer you up and that defeats the purpose. Try to consolidate. Pay off high interest accounts first, accounts that have low interest pay only the minimum unless the balance is low. Close as many accounts as possible that'll up your credit score some. Remember, you'll get through this!
2007-05-25 12:26:47 · answer #3 · answered by Lola B 2 · 0⤊ 0⤋
Take care of yourself first. Food, shelter. Any extra goes toward debts, but only minimum payments initially. Sounds like you need to increase your income. Find a better paying job or a second job temporary to knock out the debt.
Dave Ramsey talks to people in your situation every day on his radio show. Listen and get help; its working for me.
2007-05-25 11:58:57 · answer #4 · answered by Sun and Sand 3 · 2⤊ 0⤋
I agree with the dave ramsey plan. Write a wirtten budget and cut unneeded expenses. If you're paying off your car, sell it to a private party and get a small loan for the difference. Don't eat out, no vacations, and eat rice and beans. Most public libraries should have a copy of Dave's book, The Total Money Makeover.
2007-05-25 12:25:41 · answer #5 · answered by Dan C 3 · 2⤊ 0⤋
Dear sporregar,
The guy is divorced! That is how you can end up in debt $25,000 overnight. I feel for the guy, because lawyers drain you even when you have nothing left.
$25K of debt is not that bad. If your divorce is over, you can knock it down. Sell boy toys if you need to. Eat Raman noodles.
2007-05-25 12:00:16 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Get a couple of jobs and save your money don't spend any besides what you have to pay on bills, read the book called "Rich dad poor dad" or the "Richest man in Babylon", they will definently help you out!
2007-05-25 12:02:54 · answer #7 · answered by Mel 2 · 0⤊ 0⤋
Get a 2nd job, downsize, cut out unnecessary expenditures, sell your plasma, don't drive your car, sell unneeded toys, etc.
How does one all of a sudden "find themselves in debt"? Do the bills just spontaneously appear with no one having purchased anything?
2007-05-25 11:55:14 · answer #8 · answered by Anonymous · 2⤊ 1⤋
Your choices are simple. Contact a debt management/consolidation firm for assistance in managing your debt responsibly, or file for bankruptcy. I recomment the first option strongly.
2007-05-25 11:55:50 · answer #9 · answered by acermill 7 · 1⤊ 3⤋
Prosper.com; you can borrow money to pay it back.
Then get a second job and dont let "the man" hold you down.
2007-05-25 12:35:18 · answer #10 · answered by Anonymous · 0⤊ 1⤋