Posted on
December 10, 2008
at
3:49 am
Hi, my wife and I are in 30,000 worth of credit card debt. I lost my job due to the economy and my wife gets 1100 a month from school. I have 8000 in cash put aside. My question is, what to do? Can I get a consolidation loan. My credit score is fine. What would you people do? Some of my credit card rates are 27%. I want to pay the debt, but need reasonable rates. thanks
Posted on
December 11, 2008
at
11:03 am
You may want to look into transfering your debt to a lower interest rate credit card, if that is possible. Does your wife have a credit union in her school district you can join. Traditionally credit unions charge their members less on the loans. So, if you are contemplating a consolidation loan, that would be the first place to start.
Posted on
December 12, 2008
at
9:36 am
I would pay the min on the debt till you find a new source of income. I am not sure how far your savings will take you, but prioritize your expenses to make sure all the needs are taken care of till you are back on your feet again.Cut down on all discretionary expenses to stretch the money your wife brings in along with your savings.
Posted on
December 16, 2008
at
12:49 pm
There are debt negotiation companies out there. I am unsure if I can plug my own company or not???
Posted on
January 12, 2009
at
4:00 pm
Kansas,I just offered this suggestion to someone else on the forum here, so I'll be very brief because I'm sure you've read that post (or you will read it eventually). If this goes against forum guidelines, someone please tell me, I haven't done this before
Posted on
January 31, 2009
at
12:24 am
You can transfer you debt to lower interest rate credit card. You will find many such
credit card offers online.
Posted on
January 31, 2009
at
9:46 pm
You don't tell of your assets other than cash, if any.Do you own property or your home? And also is there any other outstanding creditors, such as mortgage companies, car loans. Without a better financial picture, I cannot offer solid advice.
Posted on
March 29, 2009
at
12:38 am
I think the credit card loan rate is too high, you should not go for it
Posted on
March 30, 2009
at
5:23 am
I think u should not take loan from credit card as its interest is truely high.Better look for some options
Posted on
March 31, 2009
at
3:43 am
I think you should go for settlement like.
