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 Posted: Sat Feb 17, 2007 8:29 pm Subject: Drowning in debt and don't see a way out |
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Like many, I fell into the credit card trap. And to make matter worse, I bought a car I really could not afford.
Then, I got the "brilliant" idea to buy a condo, and use the equity to pay off my debts. Problem is, I ran into a number of obstacles, and now I'm in a major, major hole. My monthly payments exceed my income. I've gotten a second job, but I'm so far behind on payments and payday loans that I can't do anything.
I've signed up with a company called Freedom debt relief, but something just doesn't seem right. They're promising to settle my debts, but as I examine the process more closely, it seems like it's going to be a long time before anything can get resolved. And my credit score continues to plummet, more each day.
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jlfarley31677
Joined: 17 Feb 2007
Posts: 14
Debtcc Points: 1232
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| Posted: Sat Feb 17, 2007 8:40 pm Subject: |
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I'm sorry to hear about all you're going through right now with your debt problems. I personally am not familiar with Freedom debt relief, but another member might be. Also, since you have registered, a debt counselor in your area will be contacting you. You can discuss your options with him. He may be able to give you more insite as to what to expect from a debt management company. As for your payday loans, make sure they are operating legally and not charging you more than what your state allows. To do this, you would need to know the laws of your state. Go to this link. Here, you will also be able to find out if they are licensed or not. If you need more help, let us know. The best of luck to you.
www.paydayloaninfo.org.
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dbaker6
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Joined: 25 Aug 2006
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