Posted on
September 16, 2009
at
1:46 am
I always wonder, can I get out of debt? I sure hope I can pretty soon. I lost my second job a few months ago and I have been receiving collection calls contstantly. MY income is very limited too. Can I get out of debt inspite of having a small income?
Posted on
September 16, 2009
at
3:35 am
Can I get out of debt inspite of having a small income?Actually, you can get out of debt in spite of *anything*. You have various options to work with, in terms of paying off your debts. Would you mind filling us in on your present financial situation so we can help you out further?
Posted on
September 16, 2009
at
5:06 am
I owe $35 thousan on credit cards and payday loans and like i said i lost my other job. i have been struggling to pay that debt with those two jobs and now i feel like i'm in deeper water. i need help on this i really do. if all else fails i will file for bankruptcy...
Posted on
September 16, 2009
at
5:18 am
Sorry to hear that tugalongtongs. Actually, I think bankruptcy isn't a very good idea. In fact you need to consider it as your last option. Are you aware of its effects on your credit report?"Can I get out of debt?" Yes, and it entails taking some action on it first of all. Karess is right in saying that there are various options available. With regard to your situation, debt settlement may work best for you. That would entail paying just a portion instead of the full amount of your debt, and it would be considered as "settled" by your creditor.
Posted on
September 16, 2009
at
12:22 pm
tugalongtongs - Purple Cow is correct. Debt settlement is the probably the best option for you. Bankruptcy should only be used as a last resort.
Posted on
September 17, 2009
at
2:59 am
What happens if i file for bankruptcy? isn;t that supoosed to be a good thing?
Posted on
September 24, 2009
at
11:53 pm
Can I get out of debt if I file for bankruptcy?Yes and no--yes because some of your debts will get discharged, but for the most part, not all of your debt will be included in the discharge process. If you have student loan debt and tax debt, you will still have the responsibility of paying for them.Bankruptcy also has drastic effects on your credit. It will remain on your report for 7-10 years, depending on the chapter filed for.
Posted on
September 29, 2009
at
4:21 am
It will also stay on your public records for as much as 20 years. So be careful in making your debt relief options.
Can I get out of debt? Yes, you certainly can. As mentioned earlier there are various options available for you. Just to pick up on what was discussed about debt settlement earlier, you can pay for less than what is actually due, and the percentage that you need to pay back depends on what has been agreed between the creditor and the negotiator.
Posted on
September 29, 2009
at
4:44 am
At what percentages can i get out of debt thru a debt settlement?
Posted on
October 1, 2009
at
2:59 am
At what percentages can i get out of debt thru a debt settlement?It largely depends on what has been negotiated between the creditor and the debt settlement company that you hire the services of. It varies from company to company, basically, and there isn't really an industry standard as to how much an account should be settled for.
