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 Posted: Tue Apr 08, 2008 11:16 am Subject: Am I doing a good thing? |
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My credit cards are all WAY past due - I have about 18k in credit card debts and 15k in student loans. I have budgeted myself so that I am able to put $100 away every week - that's about saving $5,200 a year - so in three years I could feasibly pay off almost all of my credit card debt and then continue that process to finish off my student loans in another three.
I really had to cut back on things but found I could still get by. Is this a better solution then filing for bankruptcy?
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mvezza
Joined: 26 Jun 2007
Posts: 21
Debtcc Points: 467
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| Posted: Tue Apr 08, 2008 11:17 am Subject: |
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To me that is a great solution. Also Student loans are not forgiven in a bankruptcy. You are really doing well.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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| Posted: Tue Apr 08, 2008 3:48 pm Subject: |
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I think you're doing great. BK really should be a last resort. And Kashzan's point about student loans is, as usual, right on the proverbial money. I wish you success.
_________________
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The four 'no's of dealing with collectors:
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Tellin' you all the zomby troof
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unclewulf
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| Posted: Tue Apr 08, 2008 5:11 pm Subject: |
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Thanks for the nod UNC.You are pretty good with the info yoursef.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5458
Debtcc Points: 38911
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| Posted: Tue Apr 08, 2008 5:38 pm Subject: |
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I do what I can. It's little enough.
_________________
Wulfisms: my blog
The four 'no's of dealing with collectors:
No validation? No payment. No way! No kidding!!
Tellin' you all the zomby troof
Here I'm is, the zomby woof
[Frank Zappa, 1988 - R.I.P.]
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unclewulf
Moderator
Joined: 27 Nov 2007
Posts: 2449
Debtcc Points: 19572
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