Posted on
September 23, 2009
at
12:01 am
What are the ways that i can get help for my debt? I am a single mother working two jobs and the amount of money I make each month still isn't enough to pay all my bills.....
Posted on
September 23, 2009
at
12:51 am
Help for debt comes in many different ways, depending on a consumer's specific situation. Debt consolidation is a means of help for debt although it is not solidly limited to that. Bankruptcy may also be considered as a way to get out of debt, but it may do you more good than harm because of its effects on your credit. Some people also opt to get debt consolidation loans or balance transfers as help for debt. Ultimately, of course, the choice is yours.
Posted on
September 23, 2009
at
2:17 am
One way for you to obtain help for debt is by going thru credit counseling. Here you will be consulting with a certified credit counselor who will help you out on your financial situation by means of one-on-one budgeting, financial planning, and money management meetings. You may also be attending seminars related to these topics while under credit counseling. Additionally, your credit counselor will also create a tailor-fit plan specifically designed for your current situation on finances.
Posted on
September 23, 2009
at
2:39 am
Why would bankruptcy not be considered as help for debt??
Posted on
September 23, 2009
at
7:49 pm
I personally do not think that bankruptcy would be considered as help for debt because its long term effects on a person's credit would do them more harm than good. A bankruptcy will stay on a consumer's credit report for 7-10 years, depending on the chapter filed for.
Posted on
September 24, 2009
at
2:16 am
Plus the fact that bankruptcy will also stay on your public records for 20 years. I think it's a short term help for debt solution in the sense that every debt that you owe--well,
almost every debt--will be discharged. But the fact is, your credit may not be able to recover quickly--plus the fact that not all of your debts will be discharged.
Posted on
September 24, 2009
at
2:47 am
Thank you for your responses everyone.... I have made some thinking and am narrowing my options down.... I also want to ask, Is there a non-profit help for debt option that I can avail of?
Posted on
October 1, 2009
at
2:47 am
Non-profit help for debt may come in the form of credit counseling. Thru this method a certified counselor will meet with you and discuss your financial situation with you. If need be they may also enroll you on a debt management plan that will enable you to pay your debts for a five-year period.
Posted on
October 1, 2009
at
2:50 am
Right but keep in mind that not all kinds of non profit help for debt won't require you to make payments. Some companies actually do charge monthly fees. They range around $25-30 approximately.
Posted on
October 1, 2009
at
3:12 am
How can I obtain help for debt from the government?
