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I just lost my job and I am behind in all my bill payments. what to do?  

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Hi I need help. I have around three credit cards bills and all of them I have used the credit line. I owed around 15,000 dollars just in those credti card. My apr is really high on one is 21 and the other two is 9.44. I also owe my car loan. I don't know what to do. I just lost my job and I'm behind in all my bill payments. I need help please give me an advice.
 

asked Mar 23, 2005 03:31 PM

cindy_184
Best Answer
8
best answer

have you tried to take out maybe a personal loan get them all wrapped into one and pound the heck out of it? you may get a low % rate or atleast lower than your cards and only have 1 bill to deal with. I know the cc companies are not budgin at least not on my cardsif anything my % went up and for no apparent reason and they wont lower them i have called and called. If you can get this loan cut the cards to pieces and forget about them if you learned your lession.

If you cant get a loan have you tried looking into a debt management program? It will be tough for awhile but you will eventually pull yourself out.

Here is another option that you may be able to do, if there is any way that you can rid yourself of that car payment. how much are your payments? How much would your car sell for and how much equity do you have built into it? could you be able to sell it and make a few thousand left afterwards to buy something with cash free and clear and no payment?

answered Aug 31, 2009 06:12 AM

5 Answers

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Hi cindy_184

What I feel for you at this time is that two things are very urgent for you. One is a steady flow of income by getting a suitable job for yourself so that you can manage your living and don't add much more to your already existing troubles. Another thing is that you need to get some professional help so that it can help you coming out from such existing problems otherwise it will keep on increasing further. But most important above everything is that you need to have a job at the earliest.

Roxette

answered Mar 25, 2005 01:37 PM

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hi this is another sad story. we need to pull our troops from overseas and use our money to establish more jobs for our own people. instead we are worrying about others. you should not focus now on what you owe others and just make sure your fed properly and also focus on what you have for skills you could be looking at a home based buisness, or some kind of partnership with someone with goals for long term employment. life will never guarantee us anything, but try to stay healthy and focused on whats best for you. bills can be taken care of later. please no replies on our troops status.

answered Mar 26, 2005 02:55 PM

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Quote:

I also owe my car loan.

Pay it first or give it higher priority as you have a collateral attachment to it.


Quote:
I owed around 15,000 dollars just in those credit cards. My apr is really high on one is 21 and the other two is 9.44.

Calculate your debt income ratio and this will help you decide your next move. Our DIY section will help ( http://www.debtconsolidationcare.com/diy/ ).

Welcome to the forums cindy_184.

Thanks
Vikas

answered Mar 26, 2005 06:15 PM

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Quote:

Originally Posted by cindy_184
Hi I need help. I have around three credit cards bills and all of them I have used the credit line. I owed around 15,000 dollars just in those credti card. My apr is really high on one is 21 and the other two is 9.44. I also owe my car loan. I don't know what to do. I just lost my job and I'm behind in all my bill payments. I need help please give me an advice.


21 percent? I would suggest focusing on that crazy high interest rate. Try contacting this credit company to see if they can reduce that crazy rate. If possible, you should pound the pavement for a part-time/full-time job so you can have an income source. Just something temporary until you find a job for which you are a perfect fit.

Also, it wouldn't hurt to ask your family for financial help until you get back on your feet. This whole process is very humbling, but I believe that you could get through it.

answered Mar 30, 2005 07:15 PM

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hi i owe over 15, 000 in credit card debt and i work im not behind in my bills im tired of spending 600.00 a month i have no collateral what should i do i have learned my lessson if i get out of this i will never use a credit card again.

answered Aug 30, 2009 11:33 AM

Anonymous
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