Internet's first get-out-of-debt community - 116,000 members

Posted: Mon May 19, 2008 7:16 am

I currently have another job and have been making more money now. We got a lot more medical and other debt added recently to where we were going into the hole every month. For the last two months we were just about breaking even. We are currently selling as much as we can and cutting our budget down. I am commission payed but believe that if I can get two months ahead I will be fine. So should I max out my credit cards to get those two months? Otherwise I will not be able to afford my mortgage for this month.

Posted: Mon May 19, 2008 7:48 am

I wouldn't do that, it would be like taking one step forward and ten steps back. Cut back on your payments for the medical bills, I have them also, they get what I can afford monthly. If I paid them all in full as they come in, I would be homeless.

Posted: Mon May 19, 2008 7:49 am

Oh and, welcome !! Very Happy

Posted: Mon May 19, 2008 8:03 am

If you are overextended it sounds like you would be a good candidate for a Debt settlement program . Debt settlement is an hardship program and best for consumers that don't qualify for debt management, can't continue paying minimum payments, can't borrow to pay off debts and don't want to file bankruptcy. A good debt settlement company will be able to settle most of the debt you have in medical and cc debt for around 40-60%. I would shop around with a bunch of settlement company's and compare to see which one you like best. Be sure to look them up on the BBB as well. I hope this info helps. Have a great day. Very Happy

Posted: Tue May 20, 2008 8:38 am

THanks Shazzers. I am really just trying to avoid ruining my credit. right now my score sucks but that is just becasue I am maxed out on a few cards and becuase of one or two medical collections that have been filed. so that is easy to mend.
I believe in hard work and persaverance, but do not want to be blind to my situation. BK or debt settlement are not options for me now. but yes it does look like I am making it worse before it gets better. I just feel that if I can buy myself two months at least, then I can sell enough and cut my debt down enough that I can start paying some off. My credit card debt really only makes up a fraction of the debt. I have over $8,000 in monthly expenses and my min on the CC totals just over $1,000 of that. So even getting rid of that doesn't seem like it will have much effect.

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