Posted on May 22, 2009 at 8:52 am I owe a lot and need to know what my options are- thanks!

Posted on May 22, 2009 at 11:25 am Hard Times- let me ask you some questions and then I may be able to give you some input in regards to what your best option for getting out of debt may be. 1) How much is it that you owe? 2) Who are your creditors? 3) Are you current on all of your payments? 4) Are any of your accounts with collection agencies, debt buyers, or attorneys for collection? Let me know when you have a chance and I will do my best to help. Its impossible to give you the proper insight without knowing more.

Posted on May 22, 2009 at 11:35 am The fastest way to get out of debt is to pay your creditors obviously!!! Do you have the money to do this?

Posted on May 22, 2009 at 12:32 pm Mr. Kimble, if I had the money to pay off my debts why would I be on this website looking for help? You should be more sensitive to people who are having financial troubles. Joseph- I owe right around $13 K right now. I have a Discover account for $9,500 and a Capital One card that is usually between $4 and $5 K. I am in fact current on my accounts right now, and the debts are still with Discover and Capital One. Any advice will help, thanks in advance.

Posted on May 22, 2009 at 1:35 pm Hard Times- while I am sure you are very stressed out about these two debts I can tell you it doesn't appear that your situation is all that bad. First of all, you are current on your debts which is a good thing. Also, the total debt amount that you have is far from overwhelming. So, at this point it would be helpful to simply consider all of your options. First, you could ask a family member or friend to give you a personal loan to pay off the debts. I prefer this over a debt consolidation loan because I am sure nobody in your family is going to charge you 20% interest! Or, if you have any assets of value, you could consider selling them and using the proceeds to pay off your debts. I understand that letting possessions go can be difficult for some, but it is a very effective way of becoming debt free. Credit counseling may also be a possibility for you. These agencies work with creditors to get the interest rates lowered so you can pay off the debt faster. Debt settlement really wouldn't make sense because of your situation. Also, I have even heard that Discover won't work with settlement companies. In general, remain patient. I think one thing that really kills people is the need to get rid of the debt NOW! without having a realistic solution. Paying off debt takes time, but if you stay the course and are committed to doing that I think everything will work out just fine for you. P.S. Don't let guys like Kimble get to you!