Internet's first get-out-of-debt community - 123,000 members

Hello, My name is Kimberly and I just found this forum and have a few questions.

I am in some credit card debt trouble due to a divorce and not sure what to do to handle it. I have not been late on any payments as of yet but I can't handle the payments any longer. For the most part my boyfriend has been helping me out on most of my bills but I just don't want to depend on that anymore. There is no way I can pay my Credit Card debt by myself and need to figure out how to pay it off quickly but also be able to live. I have considered bankruptcy but I don't want to ruin my credit since I have not gotten behind as of yet. I have heard and read a little about debt consolidation but would love more info and hopefully I can go that route.

Posted: Mon Nov 19, 2007 2:31 pm Subject:

Hi Kimberly, You have come to a good place for help and support. When you signed up for this site you had an option for free counseling. You will be contacted by a professional that wil help you explore your options. If not go to the free consultation link on the side of this page. If you debt is 10K or more debt consolidation might be a good option for you. It is very commendable for you boyfriend to help you out and I can very much understand several reasons why you may not want to continue down that path.

Posted: Mon Nov 19, 2007 4:59 pm Subject:

Contact your credit card company. Ask ask about a hardship program to put you on. That could lower your payments (also ask about lower interest rate)

Posted: Tue Nov 20, 2007 8:49 am Subject:

Does anyone know how debt consolidation looks on your credit? I would also like to know how it looks on your credit compared to doing a Bankruptcy.

Posted: Tue Nov 20, 2007 8:52 am Subject:

Ur credit will take a hit at first but will bounce back quickly after making a few payments! Of course it won't hurt as much as a bk would.
Hope this helps a little,
Ang

Posted: Tue Nov 20, 2007 7:40 pm Subject:

I was between 90 & 120 days late when my plan went into effect. My consolidation company said that after a few payments the creditors will list me as being current. Some creditors will list you as being in a plan or "making payments as agreed". I expect the credit to take a hit, but it will improve & even more so once the plan is complete.

Bk would hurt more.

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