Posted on May 27, 2009 at 8:09 am As I mentioned, I am dealing with debt right now and don't have a job. Does anyone know what I could potentially do to try and pay off my credit cards without a steady form of income?

Posted on May 27, 2009 at 8:26 am How much is it that you owe right now? That will be a deciding factor as to what your best options may be. If you have money in savings you could potentiall use that to pay off your debts and get your creditors off of your back. Or, you could think about selling any assets of value you may have and using the proceeds to pay the debt off. Are you current on the payments right now to all of your creditors? If not, you may also want to consider hiring a debt settlement company to negotiate your balances down considering you do not have any form of income right now. How about unemployment, social security or disability? Are you collecting on any of those right now?

Posted on May 27, 2009 at 9:01 am $17 K, I have a couple of thousand dollars in savings and no assets that are worth anything really. I am current right now, but since I lost my job I am concerned about the future and my ability to make all of the payments. I am not collecting anything yet, although I have filed for unemployment at this time.

Posted on May 27, 2009 at 8:55 pm You may want to contact all your credit card companies now and find out if it is possible for them to freeze or at least reduce the interest rates, or decrease the amount that you pay monthly, until you get another job. In the meantime, to sustain your needs and to pay your other bills, find any job that would give you money. Even if the job requires skills training, as long as it pays you, and as long as it does not make you wait for 2 weeks or months to respond to your job application. I'm talking about McDonald's perhaps or Starbucks. If you have any hidden skills, say general plumbing or you are good with mechanical and electrical work, try asking around the neighborhood for needed services. The first idea is to stop your debt from increasing until you find another good paying job. The second idea is to reduce your debt. You can use your savings for an enrollment in a debt settlement program. What they can do is reduce that $17k to as much as half. I think. I am not sure. You may want to fill out that form and ask them yourself. Don't worry about consultation fees.

Posted on June 16, 2009 at 9:16 am I think you should definitely consider debt settlement at this time if you have lost your job and think you may fall behind on your payments in the near future. If your accounts do in fact become delinquent, then your creditors (and third party collectors if any of the accounts get turned over) would be willing to negotiate the principle amount of debt that you owe. Feel free to ask questions in regards to the settlement process and I will happy to address them to the best of my ability. Or, you can fill out a form on DestroyDebt.Com to get a free consultation.

Posted on June 22, 2009 at 11:26 pm

Posted on August 7, 2009 at 5:06 am If you are still in debt and still unemployed and have been approved for that unemployment check, I think Steven is right, consider debt settlement and use your unemployment benefits to pay for the settlement company's services. What they can do for you is try to reduce your balance to as much as 75%, that of course depends on your actual financial situation and your creditors.

Posted on August 7, 2009 at 5:11 am Consumers with no job and are in debt can try raising  $1,5000 to pay for debt settlement services. That fee is spread out over 18 months. Some companies, on the other hand, would ask for a percentage of the settlement amount, it's usually between 20-25%.That should be a good trade off for the reduction of the total balance to up to 75% (depending on the creditors and the negotiation itself) and a credit report that says "settled" or "paid."

Posted on August 7, 2009 at 7:50 am Actually Blur- that isn't necessarily the case. People need to understand that debt settlement companies usually charge 15% of the consumer's total debt amount, and typically spread that out over 12-18 months. So, you would pay $1,500 (I assume that is what you meant) in fees if you owed $10 K. Someone who owes $20 K, however, would end up paying $3,000 over that time period. And usually the fees are included in the monthly payment. So, if you are saying to yourself, "I have no job- please advise" I hope this is the type of advice you are looking for.

Posted on October 9, 2009 at 3:15 am The issue of having no job and being in debt on top of that is getting worse and worse..