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I don’t know if I should get a bill consolidation loan, or sign up with something like American Consumer Credit Councelors. I have two part time jobs now. I would really like to quit the second one, it’s very stressful and the hours suck, and every year there is a work slow down that lasts about three months and I file for unemployment until we go back. I want to find something else, but jobs are hard to find in Northern Michigan. I’m a divorced mom, with an 18 yr who still lives with me, and is going to school, but no job. My child support stopped, but I’m still supporting him. My home and car are paid off (part of the divorce). But my car is 8 yrs old and has almost 200,000 miles on it…it’s not going to last much longer, and I can’t afford a car payment and my house needs work. I just feel like the walls are closing in on me. What can I do? I have some money in a retirement mutual fund, should I use that to kill some of the debt?

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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???

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Hi!! I’m considering consolidating my debt through my bank and I’m still unsure if this is the route I should take. I don’t have any open credit cards, so I will be paying off debt for things in the past that are obviously hurting me now.

How long should it take for my credit score to improve with a debt consolidation? Is this even a good idea? Will this look bad on my credit in the future? Can school loans be included w/ a debt consolidation?

Any advice is appreciated, but please use words I can understand b/c I’m really bad when it comes to finance terminology

Thanks!!
All of my debt is from 5 years ago or so when I was 20. I didn’t know what I was doing when I was making mistakes. I couldn’t imagine that paying off my debt would worsen my credit. Somebody please explain how that works!
btw..I’m now 25

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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.

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i need help…. i am 22 years old i am trying to go back to school and i have like 12k in consumer debt that i cant make go away. My credit score is like a 600 and i cant get approved for a personal loan anywhere….i cant turn it into a consolidation company because my parents are co-signed on the two biggest debts i have. I dont know what to do. In order to keep my head above water i would need to work two full time jobs. I cant work two full time jobs and go to school full time as well. I just really dont know what to do… i need help. I need to figure out a way to pay it off fast. Does anyone know of any student loans that i could get that would allow me to pay them off? I dont have bad credit i dont have any late payments on anything that are on my credit so i really dont want to make it any worse than it already is. Someoen please help me find a solution. Thank you.

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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.

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Yes, it’s true. I fell for the gimmicks and ended up with a few credit cards with all types of debt as well as a student loan. The majority of my debt is school related (books) or auto-repair related (tires, batteries, brakes, misc.). I have been kind of doing the whole college thing by figuring it out myself and wasn’t aware/no one told me student loans were a better choice than credit (my fault) until it was too late.

I’ve graduated from a 4 year institution, one more year of taking classes, then will be headed to California in Summer 2010 to get a house/apt/condo with a friend and get my teacher credentials at CSU San Marcos so I can teach elementary school.

A: How can I REALLY start paying off this debt (aside from starting with paying for everything in cash/with debit like I’ve been doing)? I am scared I will never be able to pay it all off. What are my other options beside debt consolidation which I’ve read can really mess up your credit?
B: With this much debt, what is the likelihood that my friend (has little to no debt) and myself will be able to get a place relatively affordable while we are both going to school (especially if either of our parents can/need to cosign)? We want to live between Oceanside and San Marcos in North San Diego County if that is helpful or possible.
C: Any other financial advice given my situation?

And please, avoid cutting remarks about my “naive collegiate/financial stupidity”. I’m well aware of the consequences for my choices and you should keep in mind I have had little to no help in making these decisions because neither of my parents went to college/are financially savvy. I do feel foolish, and am simply asking for help/advice.

Anything would be greatly appreciated.

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I was offered by the owners to buy a franchised fitness club that is about to close. Although I would love to own it, I am very worried that this club may be in debt up to their eyeballs. Who can I contact to get this information? This particular club caterers to women only.

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Like a fool, I went to a very expensive school that I could not afford, but got the tuition from Sallie Mae. They are a terrible company and I do not want to work with them anymore.

My question is:
What would be a good company to go through in consolidation all my Sallie Mae loans?

I know I would most likely need a co-signer, which I don’t have.
I didn’t know I cout try to re-negotiate the interest rate. They haven’t been the nicest company. After my co-signer forgot about approving one of the loans, he had me (sort of unintentionally) accused of identity theft. It wasn’t the kind of thing that involved law enforcement, it was just with Sallie Mae. I explained the situation to them and they always flat out refuse to work with me on any issue.

I was just on the phone with a rep a little while ago and she asked me why I’m having trouble paying the bill. I explained to her how difficult it is to pay more than a thousand dollars per month while working part-time. She just paused for a second and then asked for the money.

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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!

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