I have a house I been in for just over a year now. I am on a plan to catch up on the mortgage when I got 2mo behind. So I don't think I really have any home equity yet. I don't think I can get out from under the house with the market the way it is or I would. I have about $5,000 in card debt between 3 cards all around 23% and about 18,000 in automotive debt.
I have to find a way to lower my monthly payments. So I have money for my family needs.

What are my options?

Hi dlbenthusen,

Welcome on board and please relax, you're amongst the friends now. This site offers a free financial consultation , which I think may come useful in your case.

Anyways, IMO debt consolidation may not be the right solution for you. the debt consolidation program often leave the secured debts and only include the unsecured debts.

Also, the debt consolidation loans often require collaterals to back, which is again not a possible situation for you, as you've hardly built any equity on your home.

If you're falling behind with your mortgage, ask your lender to work-out a payment plan with you. It'll help you to avoid foreclosure. They may agree to reduce your payment or extend the term. Some may even agree to suspend the payment temporarily.

However, you can take the benefit of the accelerated debt consolidation. Though it’ll ruin your credit but may also help you to get-rid of your credit card debts.

Hey, JOHN..does MyDebtResolution work pretty well? Just looking for 'something' myself. The debt consolidation companies, I have come across are not what they are 'cracked up' to be...some devious stuff, bad BBB reviews, etc. Can you give me a bit more information please? Thanks.

sd chargers this company charged me a fee of 25.00 and nothing else till they reduced all my bills on a debt management program and i pay them 460.00 month and there fee a month is 10% wich is 46 dollars i send them my check and they pay all my bills. they said if i want to settle them and if i saved 5000 dollars the max fee is 120.00. every where else wanted thousands upfront... spread the word FINALLY A PLACE THAT FOLLOWS LAWS AND DOESNT OVER CHARGE PEOPLE

JD, your previous posts have been deleted...they constitute spam.

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The only people with whom you should try to get even are those who have helped you.
-John E. Southard

u get my reply

johndankers - you cannot post links to companies here. You may post your personal experience with a company and indicate whether they helped you or not, but you are not allowed to advertise. Your posts stating simply "go to ......they can help you" constitutes advertisement under our TOS.

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A journey of a thousand miles begins with a single step...and becoming debt free is a journey!

Yes, JOHN..I got your post. I can google them. Thanks. I'm glad they worked for you.