I have a serious problem right now. All need expert/smart answers no spamming please. I’m in about 21,000 credit card debt. I am having major problems paying off the cards, (6 cards). Bankruptcy is entering my mind, but I am looking at these debt consolidation websites, they claim its better to use them than filling for bankruptcy. I’m trying to get 2nd job, no luck with how this economy is going. My question is, whats the pros and cons of both options. 2nd I work as a supervisor of a major freight company, when they promote me down the line, will they find out I’ve filed for either bankruptcy or using debt consolidation. Man I was young and stupid, with credit cards now I’m suffering big time. One thing I thought of, was one month pay off one card, which will lead me to skip the other cards payments, then next month make a big payment and skip others, then repeat, but that would destroy my credit score.
Archive for October, 2009
Bankruptcy or Debt Consolidation? Pros and Cons?
Wednesday, October 21st, 2009I have a serious problem right now. All need expert/smart answers no spamming please. I’m in about 21,000 credit card debt. I am having major problems paying off the cards, (6 cards). Bankruptcy is entering my mind, but I am looking at these debt consolidation websites, they claim its better to use them than filling for bankruptcy. I’m trying to get 2nd job, no luck with how this economy is going. My question is, whats the pros and cons of both options. 2nd I work as a supervisor of a major freight company, when they promote me down the line, will they find out I’ve filed for either bankruptcy or using debt consolidation. Man I was young and stupid, with credit cards now I’m suffering big time. One thing I thought of, was one month pay off one card, which will lead me to skip the other cards payments, then next month make a big payment and skip others, then repeat, but that would destroy my credit score.
I know debt consolidation loans for bad credit are out there, can you help me find them?
Tuesday, October 20th, 2009I am a single, widowed mother of two who went back to college after my husband died. I also had to file bankrupcy (which would be 9 years ago this year) because there were debts attached to my name that were not my legal responsiblity. Going back to college was a good move but an expensive one. I was unable to pay my credit cards/store cards because of the little or no income I had coming in. Most of my money went to the basics to support myself and my family. After graduatiing (with a teaching degree) I had a hard time finding work in my state (there was a teaching surplus) so I moved out of state 1500 miles for a teaching job. After moving the home I was renting went into foreclosure after only 8 months so I was forced (not by choice) to move again. I am now in a situation where I can finally start catching these bills up and would like one payment a month. Debt consolidation companies won’t help because one of the credit cards is in my mom’s name. Any suggestion
Questions about Debt Consolidation?
Sunday, October 18th, 2009I owe a little over 16,000 in student loans that I honestly didn’t know I was supposed to pay for till after college but now they are coming up past to and they are hurting my credit and I can’t get a new car that I need. Can debt consolidation help or is it only for credit card debt. And if I can use debt consolidation what company is best?
to Watch It!— Yes I was trying to get a car but obvioulsy I didnt know I was in that much debt or I wouldnt have asked the question now would I
Debt consolidation , how it works ?
Sunday, October 11th, 2009I have about 5000 of credit card debt , I rent so home equity wont work (i rent) I cant really cut down on stuff , my FISCO went from 740 to 505 in a year (financial problems). So i need help getting help with debt consolidation with about 200-250 monthly payment (I cant afford that) so i need help picking good company that isnt going to screw me over.
Also I have question how its working , do they actually pay off your debt and you pay them , because I dont want some of my CC Account closed , I want to keep 4/9 credit cards.
What do you think about that ?
P.S. Snow ball will not going to work.
What should I do about my credit card debt?
Monday, October 5th, 2009I recently had to defer my salary at my job for an extended period and cannot afford to pay my credit card debt. What should I do? A friend advised me to not make the next payments and negotiate with credit card companies on the debt. Is this wise? Would you advise I do something else? Thank you.