I could really use some good advice?
We are in a real pinch and need some advice. I have 2 credit cards in a credit counseling agency but over the 4 years we have been with them we have accumulated more debt. I know it is our fault for doing that but please do not criticize. We now have about 46000 in debts and my husbands job recently ended through no fault of his own. He is getting unemployment but that is not what he was bringing home and I am still full time employed. What would you suggest for us to get out of this?
Public Comments
- Talk to the creditor and see if you can work out a payment. However, if theres no way you cannot seek any money or help, then there bankruptcy.
- Consult with a bankruptcy specialist
- Go to this web site for help: http://www.daveramsey.com He is a financial adviser who teaches you how to budget your money, get out of debt and stay that way. It is HARD work and you will have to make some sacrifices, but IT WORKS!!! We got out of debt (big time) and now own our cars (no payments) our house (no mortgage) and all of our toys (not many, just a few). It took willpower and the determination to rid ourselves of debt and bill collectors. YOU CAN DO IT!!! Please try it and see.
- Hire a financial advisor. They will go over all your debts with you and help you to cut out any extra things or activities you don't need to get you out of debt ASAP, as well as tell you what you're paying in interest with all your credit cards, loans and etc. Then they assess what you and your husband make, and give you a game plan to work towards :) Hope this helps!
- What ever you decide to do, you will work it out Except BORROWING more money never helps! If you can, reduce your monthly expenses, no eating out, no entertainment, cut back on cable or dish services. Cut and color your own hair do your own nails. You know how to cut back! When we were saving for a house we would go read funny cards to each other at the grocery store for "date" night and share a muffin!
- 1. Watch 'In Debt We Trust' first and foremost... I'm serious. 2. If you own a home, apply for a home equity line of credit or get a second on your home (this is a quick, temporary fix which requires further action to stay away from debt, once its under control) 3. Can your husband do any jobs under-the-table? Construction, landscaping or otherwise? What can you do also? 4. Have a garage sale where you shed some weight in the items which contributed to your debt? Sell everything you can that's not a real necessity. 5. Quit buying anything that's not a real neccessity. 6. Move in with friends/relatives temporarily (3 months) 7. Collect and cash in recyclables 8. Watch, 'In Debt We Trust' again. 9. Breathe . . .
- a) Stop buying things. Whatever you have now has to last -- except food. Buy cheap food. Do not go out to eat. b) Have your husband get a job.
- Sell your cars and cancel the telephone, television, electricity (Use candles) and do not buy any more clothes or shoes for a while. Rent a room to a mexican. Get a second job. Sell your blood. Rent your vagina for 9 months (I mean get pregnant with somebody else's husband. I mean a couple wants to have a baby but she cannot get pregnant) Sell your TVs, refrigerators, micro wave ovens and blenders.
* Some answers may have been provided by Yahoo! Answers.