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 Posted: Sun May 11, 2008 8:16 pm |
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I am about 15,000 in debt, a full-time student working a part-time job, and only bring home $1,200/month. I can't afford high payments. can your company help me and if so, how?
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ganderson0227
Joined: 11 May 2008
Posts: 1
Debtcc Points: 29
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| Posted: Mon May 12, 2008 12:07 am |
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Hi ganderson, welcome to the community. You're surely going to get loads to excellent suggestions form the seasoned members of this board on how to manage your debts. BTW, can you tell us the type of debts you have? It'll help us to offer you further assistance.
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tweetyturner
Joined: 11 Mar 2008
Posts: 279
Debtcc Points: 3264
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| Posted: Mon May 12, 2008 6:17 am |
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Welcome Ganderson0227
This forum is a great place to learn from others. So go ahead and ask as many questions as you want. Your first step should be to educate yourself about debt. Now that you’ve signed up as a member you can use the free consultation by calling the 800 number on the right of the screen.
You may also want to check out the “do it yourself” link at the top.
Search other treads on the site by using key words in the search on the top right. A lot of people have been in the same place as you.
Have you fallen behind on your payments?
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mommontoya
Joined: 21 Jun 2006
Posts: 461
Debtcc Points: 4190
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| Posted: Mon May 12, 2008 7:23 am |
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You may be a candidate for debt settlement. Most debt settlement companies require a minimum of $10,000 in debt but they can only help with unsecured debt like credit card debt, personal loans or medical bills. They cannot help if you debt is secured (e.g., car loans, mortgage). Also, you mentioned you're a student. If the majority of your debt is student loans you may be better off pursuing credit counseling. Even though student loan aren't technically secured loans they are ususally backed by the federal government, which means they probably can't be considered for debt settlement. Try posting your question on HelpForDebtors.com, another debt forum.
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mbeetz
Joined: 17 Mar 2008
Posts: 4
Debtcc Points: 144
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| Posted: Mon May 12, 2008 8:19 am |
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We can help you what state do you live in?
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Guest
Debtcc Points: 100
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| Posted: Mon May 12, 2008 1:11 pm |
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I agree with mbeetz. It does sound like you would be a good candidate for debt settlement since you are overextended. I would suggest you shop around with several settlement company's and look them up with the BBB to make sure they have a good reputation.
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mobile0311
Joined: 05 May 2008
Posts: 561
Debtcc Points: 3179
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| Posted: Mon May 12, 2008 2:01 pm |
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And I definitely agree with Mobile0311 - Make sure any debt settlement company you consider is a BBB Accredited Member or at least has a good standing with the BBB.
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Guest
Debtcc Points: 100
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| Posted: Mon May 12, 2008 3:31 pm |
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Go for Debt consolidation....Debt consolidation is often advisable in theory when someone is paying credit card debt. Credit cards can carry a much larger interest rate than even an unsecured loan from a bank.
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Free Debt Consolidation Guide
http://consolidate-debtloans.blogspot.com/
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justinhi5
Joined: 22 Apr 2008
Posts: 86
Debtcc Points: 638
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| Posted: Mon May 12, 2008 3:47 pm |
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I respectfully disagree with justinhi5. If you can`t afford you payments now than debt consolidation loan is not an option , most likely you won`t get it anyways and even if you did it wouldn`t solve your problem. You would just be robbing peter to pay paul. Very rarely is a debt consolidation loan a good option and it doesn`t sound like you would qualify anyways. Of course this is just my opinion.
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mobile0311
Joined: 05 May 2008
Posts: 561
Debtcc Points: 3179
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| Posted: Mon May 12, 2008 4:42 pm |
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I am in about 16k worth of debt. They only thing I am paying on is my student loans. I move back home with my parents last year and now I feel like i'm ready to pay off my debt.
I paid off an old Targer charge account in Feb for 2k and now i just got a letter of NOTICE OF INTENT TO DIMISS FOR LACK OF PROSECUTION ON COURT'S OWN MOTION from a court house in my former city that i live in. The case was filed by LVNV Funding LLC. I don't remember that comapny and realize they probably just purchsed it from another cc company. I called the caourt to verify that it was legit and the lady told me yes but i don't have to come to court because they are going to jsut dismiss the case. is that true? what does this letter really mean.
There was not a name of an attorney on the letter but she was able to provide me with one and a name. Should i be calling the number to the attorney or should i try contacting LVNV Funding?
With all that, how can i start on paying back everyone? I don't know where to start as i do not get many correspondants from them anymore. These account has been delinqueints since 2004.
sorry for the long ordeal. if anyone can help me...i will really appreaciate it. thanks in advance for your time...
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shopaholicviet
Joined: 12 May 2008
Posts: 14
Debtcc Points: 178
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