How Should I Get Out Of Debt?
Posted on
July 23, 2009
at
3:03 am
need your asnwers to my question, guys, on how should i get out of debt? right now, i am working lesser hours, and thats why i have not been making payments... to top it all off i have been getting so many collection calls!!! and i really want it to stop, i tell them that i havent been earning as much as b4 but they dont seem to care....its really crazy. hope you can shed light for me on this
Posted on
July 23, 2009
at
3:38 am
What i did was file for bankrupcy, i was able to clean out the mess i made, and i am back to a normal life again. sad thing is i cannot applyfor credit very easily, i tried to, but the lenders just keep on denying the application. Sad but i need it, what if theres an emergency, you know.
Posted on
July 23, 2009
at
4:22 am
Addressing your concern--how should I get out of debt--depends on various factors. How much is your current debt amount? Do you have savings, or benefits? What are your types of debts?Bankruptcy may be one way for you to get out of debt but it is definitely not the only way to do so. If anything, it should be a last resort for getting out of debt, because of its adverse effects on your credit.
Posted on
July 23, 2009
at
4:31 am
I have 16k in credti card debt and much more on medical bills. i also have a student loan due. bigsigh. this is soooo sad. Is there anyway i can stop the calls????
Posted on
July 23, 2009
at
7:29 am
Karess is right- anytime someone asks, "How should I get out of debt?" they need to take into consideration their debt load and the financial resources that are available to them. So it sounds like you are getting collection calls? I have to assume then that your accounts are all past due? Usually when someone has a lot of debt, they are behind on monthly payments and cannot catch back up and have few resources (such as savings) to pay it off in full they tend to be a good candidate for debt settlement. This is only true if they can afford some type of monthly payment on a consistent basis. So the next question is do you have monthly disposable income?
Posted on
July 23, 2009
at
11:54 pm
hardly. becausei am working lesser hrs now. its a sad thing and i really want to get these str8nd outmy savings are just that--savings. im afraid of spending them because you know, an emergency myt come up or sumthin, and i dont want to be left COMPLETELY w/o money if tat happens
Posted on
July 24, 2009
at
12:40 am
I think using your savings to pay your debts would make your life much easier for you. Sure, it's understandable that you're preparing for the worst to happen, but would you really want the worst to actually come before you can do something about it?
Posted on
August 17, 2009
at
2:45 am
is debt consolidation the only way that can address the concern of how should i get out of debt, or are there other available options?
Posted on
August 17, 2009
at
3:13 am
You can file for bankruptcy but that may do you more harm than good. Cos depending on the chapter you file for, it will remain on your credit report for 7-10 years. Aside from that it will remain on public records for 20 yrs.
Posted on
August 17, 2009
at
3:18 am
Aside from that denying the fact that you've previously filed for a banko entails a perjury (if i'm not wrong). You have to state a previous filing especially when filling out applications for employment, credit, or insurance. DOing otherwise is considered as a criminal felony.
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