In Debt And Unemployed, Need Advice!
Posted on
June 26, 2009
at
3:48 am
I have fallen behind on my credit card payments and I've no means to pay my creditors at all. Is there hope for me? I've never imagined myself being in this situation ever..in debt and unemployed, I hope you can advice. Thank you
Posted on
June 26, 2009
at
3:56 am
Have you tried filling for unemployment benefits? If you haven't yet, go to the Unemployment Insurance Claims Office to file a claim. You can find the contact details in the phone book or on line. You'd of course fill out forms so don't forget the correct name and address of all your employers for the past 18 months, exact dates, and any written reason as to why you are not with the company anymore.
Posted on
June 26, 2009
at
4:00 am
And then contact your creditors, see if you can negotiate your balances, your interest rates, and the payment terms. You said you have nothing at all to pay your creditors, so after you find out how much your unemployment benefits are going to be, you may use that money for payment. But don't stop there, you have to find other means of earning. If you find a job that pays higher than your benefits, accept it, and don't forget to inform the benefits office that you already have a job after.
Posted on
June 26, 2009
at
4:05 am
It's important for you to speak with your creditors regarding your interest rates. You don't want them adding up while you are not making any payments. Ask them for their hardship program and how you may qualify. If they could freeze and not just lower your interest rates until you're back working.
Posted on
June 26, 2009
at
4:07 am
how about a loan, do you think I'd be able to obtain one --i understand that it would be hard as i'm unemployed, but is there a chance that i could get one?
Posted on
June 26, 2009
at
4:12 am
Do you own your home? You can use it as a collateral for a loan but reserve that for when you are really desperate and can't absolutely do anything about your financial situation, also when you are very sure that you can pay the loan back. Otherwise there's a chance that you'd lose your home too.
ck Rep Points:
Posted on
June 26, 2009
at
4:15 am
i wouldn't recommend taking out a loan from your home equity, you'd just end up owing both your credit card companies and your mortgage company, which may lead you to do the worst thing-file bankruptcy.
Posted on
June 26, 2009
at
4:17 am
It really depends on your financial situation and outlook gavin. If you need to speak with a debt expert instead, fill out one of those forms that you see around, and get a more personalized advice for free.
Posted on
July 3, 2009
at
5:13 am
If you are in a debt and are unemployed, you should try using internet earning methods. Don't go for programs like ptc, ptrs etc. Try going for freebie trading, affiliate marketing or selling your konwledge via e-tutoring sites. I would place my money on freebie trading. It works like wonders. People earn about $9000 per month, no kidding, you can do your own research. I am pretty well versed with it.
Posted on
July 3, 2009
at
8:02 pm
thank you all for the replies..it's really tough, and my financial situation itsnatasha is really bad..im now wondering if it's possible to do nothing. just let it all come. am i likely to get arrested for being UNable to pay?
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