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 Posted: Sat Feb 17, 2007 8:40 am Subject: Any help for us with the Debt Settlement |
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Recently, I have suffered from a condition that is putting me out of work. I am trying to start my own home business to supplement income, but we are now running into alot of trouble with just one income. Due to medical bills, groceries, and other bills our credit card and loan amounts have become about $60,000 in all debts including vehicle, GE Loan, and credit cards. Is there any help for us with the debt settlement? We are now paying in about $1200 dollars a month for this debt and we are now falling behind and having to use our credit cards to pay for other monthly bills. Is there anything that your company can do to help us before we have to consider bankruptcy?
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jennscoby_income
Joined: 17 Feb 2007
Posts: 1
Debtcc Points: 30
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| Posted: Sat Feb 17, 2007 8:54 am Subject: |
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Hi, welcome to the forums!
I'm sorry you haven't been well..There is definitely debt help out there for you.
Since you've registered, a counselor will call you, probably after the weekend. They can tell you about different options and reccomend reputable companies. In the meantime, browse the forums. All of us here have been in some sort of debt situation or other. Feel free to ask any questions you have, we're here to help.
_________________
"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
Moderator
Joined: 17 Feb 2006
Posts: 7021
Debtcc Points: 59875
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| Posted: Sat Feb 17, 2007 10:07 am Subject: |
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Most important thing you need to do at this point is to increase your total source of income. You have to make the monthly payments to your settlement company and live on with the daily expenses. Once you have paid the required amount to the settlement company, they will start proposing a settlement offer to your creditors.
The settlement plan is going to be lower from your present monthly payments towards your debts. Calculate all your expenses and income in a piece of paper and discuss the options with a counselor. He will figure out an easy repayment plan as per your situation.
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FlyingCats
Debt Samaritan
Joined: 05 Aug 2006
Posts: 483
Debtcc Points: 6791
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