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 Posted: Wed May 23, 2007 4:49 am |
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hi my name is adam and me and my partner are in debt my partner had 2 fulltime jobs in 2006 and i was on a pension for our child we needed a bigger car and furniture for ours self because at the time we were living with her parent and wonterd to have our own place so we took out a loan with the condobolin commonwealth bank of 20,000 and we had to pay 26,000 all up because of interest we decided to swap so i could get a job instead and when we swoped payments around we fell behind got back up to scratch and then we decided to move because we both had no job at all so we moved for more job oppertunitys my partner will have one soon but we are way way way behind about 5,000 and we are also renting private witch makes it harder and we are honestly stuck on the verge of bankruptcy and we really dont wont that?
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eunice_buerckner1
Joined: 23 May 2007
Posts: 1
Debtcc Points: 30
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| Posted: Wed May 23, 2007 5:07 am |
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Hi Adam
Thanks for sharing your story!
This site offers great information on how to get out of debt. Most of the information comes directly from the members, so be sure to stick around. You can also get a free consultation with a debt counselor, who can go over the program benefits.
Debt consolidation is an awesome alternative to declaring bankruptcy. I'd definitely look into that route before making any drastic moves.
Also is the debt you speak of all from Commonwealth Bank? Perhaps you could talk to them, and see if you could refinance the loan.
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Teleport
Moderator
Joined: 09 Aug 2005
Posts: 1485
Debtcc Points: 38847
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| Posted: Wed May 23, 2007 12:07 pm |
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You should definitely go the bank and explain your situation and work out a repayment plan. If you don't get this matter sorted out, they might be quick in foreclosing your property. It will be unfortunate to lose your property and at the same time pay the outstanding balance. Get something done so that you are able to avoid these bitter consequences.
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Ruby
Joined: 08 Mar 2006
Posts: 120
Debtcc Points: 2104
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