Debt Bailouts For Single Moms
Posted on
April 29, 2010
at
3:22 am
hi can you help me find debt bailouts for single moms? thanks!
Posted on
April 29, 2010
at
5:05 am
hi can you help me find debt bailouts for single moms? thanks!- Hi, thanks for dropping by destroydebt/forum, what would your debt type be? How much do you owe? and you might be interested in this site http://www.singlemom.com/
Posted on
April 29, 2010
at
5:08 am
Debt Bailouts For Single Moms - Hey spanglish, are you planning on doing d.i.y. debt elimination or youre open to professional help?
Posted on
April 29, 2010
at
5:12 am
If your debt type is unsecured, you have several options, other than a bailout (are you perhaps asking for a government sponsored one?), you can do credit counseling (if youre current on your payments & have a balance less than $10k) or you can do debt settlement (if your balance is $10k or more and you are past due)
Posted on
April 29, 2010
at
5:15 am
Speaking of unsecured debt - if your credit is good, you can even do a balance transfer (transfer their balances to low-rate cards) - but before you do that, do ask your prospective bank these questions: 1. Until when is the introductory rate or how long does it last? 2. What is the card's annual percentage rate after that introductory rate expires? 3. Does that introductory rate apply to transferred balances or just to new ones, or both? 4. Does that card have an annual fee? 5. Do they charge late fees and over-the-limit fees? 6. Are there balance-transfer fees?
Posted on
April 29, 2010
at
5:21 am
It's a little tough to give advice with very little knowledge of your financial situation, but speaking of d.i.y. debt elimination - if your debt is unsecured (credit card) you can try contacting your creditor and ask for their hardship program. See what they have to offer you. Just prepare proof of your hardship.
Posted on
April 29, 2010
at
5:29 am
Hi thanks everybody for the replies, and credit card debt of over $30,000 is what I have and I'm not yet past due, although I skip payments a lot, due to student loans and mortgage and all. I have a feeling that at some point, I wont be able to make up the missed payments so im asking for some sort of a bailout. Hard to do this alone you know. anyway, what is professional help?
Posted on
April 29, 2010
at
5:33 am
Professional debt relief, comes in two ways, debt settlement (is the negotiation of your entire balance to more or less half), and credit counseling Debt Management Plan (is the negotiation of your interest rates). Since you're still current, I say try credit counseling, but because your balance is more than 30k, perhaps debt settlement is better for you.
Posted on
April 29, 2010
at
5:35 am
Hey spanglish, I say do debt settlement, but since you're current, don't be surprised if the settlement company asks you to stop your payment altogether for maybe 5-6 months (the time your account charges off) or when the creditor passes your account on to a third party collection agency, in which a settlement of 30-70% is very possible.
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