Posted on
June 18, 2009
at
3:16 pm
i am in debt and out of work, my accounts are in collections does anyone have any advice?
Posted on
June 18, 2009
at
3:37 pm
Well, if you are not employed at this time the good thing is if your creditors were to pursue legal action, obtain a judgment and try to execute it they would not be able to garnish your wages because you have none. Do you have any money right now- perhaps in a savings account? I ask because if so you may want to consider settling your accounts since they are already past due.
Posted on
June 18, 2009
at
4:09 pm
Right- but if he owns any property they could possibly attach a lien to secure the debt. Or, if he has a ton of money in a bank account they may try and execute the judgment through a bank account levy.
Posted on
July 6, 2009
at
4:34 pm
Right now I have a few thousand dollars in my savings account. But I owe over $10,000 and I know that is obviously not enough to pay it off!
Posted on
July 6, 2009
at
4:39 pm
I understand that you are in debt and out of work, however, if you can use the money in your savings account you may be able to resolve your debts by settling them. While settlement percentages do vary, it isn't all that difficult to settle collection accounts for 30-40% of the current balance. If you have no experience negotiating though I would be hesitant to dive into this on your own, especially since you have limited funds to work with. You may want to consider hiring a professional settlement company wo work on your behalf. Feel free to fill out a form on DestroyDebt.Com for a free consultation or to get matched up with a qualified provider!
Posted on
July 20, 2009
at
9:27 am
I am in debt and out of work too, but I don't have any savings. Do you have any ideas on what avenues to pursue to solve this problem?
Posted on
July 20, 2009
at
10:17 am
Do you have any way to generate disposable income until you are back working full time? For example, any assets you could sell off to generate funds? Or how about a family member or friend who could potentially give you a personal loan? Also, how much exactly is it that you owe and are you current on your payments right now or have you fallen behind? These would be important pieces of information to have before deciding what path may be right for you to pursue.
Posted on
July 30, 2009
at
8:48 am
I am in debt and out of work also. I just saw this forum, this is good stuff. Do you think I could get a loan if my credit is pretty bad to pay off my credit card debt?
Posted on
October 21, 2009
at
5:06 am
I am in debt and out of work also. I just saw this forum, this is good stuff. Do you think I could get a loan if my credit is pretty bad to pay off my credit card debt?You can get a loan but expect it to be saddled with high interest rate. It's like you just bought time and you also bought some more debt..
Posted on
October 21, 2009
at
5:07 am
I am in debt and out of work also. I just saw this forum, this is good stuff. Do you think I could get a loan if my credit is pretty bad to pay off my credit card debt?Hey, you don't have to obtain a loan to pay off your credit card debt. You can try to have your interest rates reduced or settle the debt instead. But that depends on how much you owe and your account status.
