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Bankruptsy/Debt Consolidation Question. Please Help! Serious answers only please… ?

admin — Sun, 06 Jun 2010 14:13:37 +0000

I’m 25 years old, married with no children. My husband and I are struggling financially, to put it lightly. We owe about $8000 on our car, and have about $10,000 in other credit card debt. And we’re total morons and bought a time share when we had extra money last year. Now we just can’t keep up and my husband’s work has been very slow while I’ve been trying to go to school full time and work around 55 hours a week. I’m about at my breaking point. Should we file for bankruptsy? The thought of a house seems impossible anytime in the near future anyways. My payments on the credit cards are just covering the interest and the balance isn’t going down. Any financial suggestions would be helpful. I’ve considered debt consolidation but I know that won’t help with the car, time share and other stuff. And I want to find a trusted debt consolidation company. We also both have student loans. We’re a mess!! Please help.

Care One Debt Consolidation or Bankruptcy ?

admin — Sat, 05 Jun 2010 08:15:07 +0000

I am 19. My mom and I became homeless when I was 17 and I had to make it on my own… I ended up with this:

$1000- capital one (have said they will take no less than $325 at a time and adds $100 a month)
$1000- walmart
$800- verizon wireless (they told me it would be $100 then charged me way more.)
$900- dr. bills because of an illness that caused me to be out of work for 5 months.

I am recently engaged to be married, but of course we have to clear the money issue up before we can afford it. We moved in with his mother and are currently paying no bills. I work part time at an office making approximately $400 a month. I am also attending Nursing school. It will be 2 years before I finish.

I can’t handle the collection calls that are almost daily and also just want this out of my hair.

We do not plan to apply for any loans for houses or cars for a long time.

Should I try Debt Consolidation to work on paying off these loans at a rate I can handle or is Bankruptcy a better choice.

I am reluctant to do Bankruptcy because I am young and I would have a hard time getting all the money up front to pay for it.

Care One set my monthlyy payment at $232 for 19 months.

What to do???

Debt Consolidation Suggestions?

admin — Thu, 27 May 2010 14:14:19 +0000

I have recently gone back to school to get my teaching license and racked up quite the debt. I now have a total of 30,000 in student loan debt on top of 8,000 in credit card debt. My husband and I have no assets except for my ancient vehicle. I’m looking for suggestions of places to go to consolidate this debt.

When Is Debt Consolidation A Good Idea?

admin — Sat, 22 May 2010 14:14:14 +0000

I have about 10,000 in debt not counting student loans, and even making the payments to the collector’s have me struggling to maintain any type of comfortable lifestyle. I’m 23 and still can’t finish school because I won’t get pre-approved for a loan to get my BA. I can’t even afford to go to junior college since I already have over 60 credits and don’t even have the money for that. I’m pretty sure if I could consolidate my debt, I could afford it and save up to finish college, and actually have some type of emergency money. My debts are over 1.5 years old. Problem is, I keep hearing consolidation is a bad plan and it’s not good for you.

Please help.
All if not most of my accounts are already charged off. I’m at around 10,000-$15,000 in debt. By consildate, I mean by going through a debt consildation company. I’m passed the negotiation stage with the creditors as I never knew that was an option before it was too late.

Debt Consolidation?

admin — Thu, 13 May 2010 20:17:07 +0000

I have about 4,000 dollars in debt over personal loans, medical, school, ect. I was wondering what’s the best website or company to use when trying to get rid of my debt. Help please!

Will debt consolidation lower my credit score?

admin — Sat, 08 May 2010 20:13:27 +0000

I have about $7,000 in credit card debt that I’ve aquired during the past 4 years of college. Now I’m graduated, can’t find a decent job, and going back to grad school. I’m having trouble even paying the minimum, and was wondering if I consolidated my debt if this would hurt my credit score. Oh yeah and I owe $30,000 in student loans, but those have already been consolidated.

Consolidation of student loans?

admin — Fri, 07 May 2010 14:15:55 +0000

So here’s the deal… I’m 21, married, have a 7 month old son, and will be graduating in a year and a half (hopefully with an accounting degree). I’m getting mailed all these “deals” about consolidating my loans. Is there a catch? Are they really good deals? Some of them say to “consolidate by June 1 to lock in low rates.” Are the rates really going to get high enough to seriously consider consolidation? Should I do it while I’m still in school? What about refinancing… is it an option? I’ve reviewed some of the other questions on this topic, so please try to be specific to my particular situation. Thanks

Debt consolidation and student loans question?

admin — Sun, 02 May 2010 14:15:37 +0000

I’m trying to repay my debt but I am having a very hard time. I have about 40k in debt including interest I’ve accumulated (over estimate, to be safe) most of which is 1 private and 1 federal student loan (probably 35k worth) and the rest are utility bills that are years past due. I’m in my twenties, not a home owner, and currently not a student. Most all of, if not all of, these debts have already gone to collections. I work a job with unsteady hours so I’m never sure how much my pay check will actually be for, this makes it very difficult to budget. Not to mention, I simply don’t make much money. I’ve been actively looking for a higher paying and steadier job but haven’t had luck, yet.

I was wondering if debt consolidation would be a good option for me. I’m wary because so many other people here on yahoo answers have said that they are scams that ruin your credit rating and leave you owing more than you originally did. Is this true? If so, are there other ways to consolidate your debt that are safer? I’m told bankruptcy isn’t an option for me because it will not cover student loans, the vast majority of my debt. Is this true? My biggest worry is my student loans, I feel confident that I could pay off my past due utility bills.

So my main question here is, what is the best option for an impoverished twenty something to pay off crippling student loan debt?

I really want to go back to school and finish my degree, but I don’t know how I could possible afford going back to school when I’m drowning in so much debt from past student loans.

credit counseling or debt consolidation? so confused!!!?

admin — Mon, 26 Apr 2010 08:15:35 +0000

my husband and i are in credit card debt 35,000.. medical bills around 1,800 and school loan about 5,600… we are paying them all the minimum and killing ourselves doing so. we both work and hard to so please no answers about a second job. we are renting right now and are always late paying rent and car payments and our car was just repo last night. we are stuck right now and really don’t want to file bankrup. my question is since we are a paying things on time can we even do credit counseling or debt consolitation? i heard that you need to be behind on your debts is that true? and what is the difference between credit counseling and debt consolidation. thank you very much for the help…

A few concerns about Debt Consolidation?

admin — Thu, 22 Apr 2010 14:21:01 +0000

I don’t have a lot of debt, but I am almost two years behind on a single credit card, have two other credit cards, medical bills, school loans, and currently my wife is pregnant and her medical bills are beginning to pile up. It is somewhere in the range of $7,000-$10,000, we want to get a loan for our first house, but I don’t have good credit and she has mediocre credit.

I was wondering if anyone knew of some good debt consolidation websites or counselors to help us out or anybody who knows really anything about debt consolidation at all.

Thank you.
If I declare bankruptcy now I can’t get any loans or credit for seven years and I live in an apartment and that will definitely hurt my chances of singing a new lease.

I also have car loans.