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 Posted: Fri Jun 29, 2007 12:02 pm Subject: big trouble |
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I'm 28 years old and I've got a huge amount of debt. I make $50K a year, but my debt has gotten so big it's beginning to be unbearable. I have 3 credit cards totalling $25K, a bank loan for $7K and a student loan for $8K. My car is paid off, but I'm going to have to get a new one soon, it's really old and falling apart. Where do I start?
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neloms
Joined: 29 Jun 2007
Posts: 1
Debtcc Points: 47
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| Posted: Fri Jun 29, 2007 12:23 pm Subject: |
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Since you just recently signed up, you should be receiving a call from one of the debt counseling services very soon, and they will be able to tell you about the consolidation services they can offer.
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joshua1987tree
Joined: 01 Jun 2007
Posts: 487
Debtcc Points: 7999
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| Posted: Fri Jun 29, 2007 1:23 pm Subject: |
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You may also look into debt settlement options since the debt amount is huge and it may take long time for you to become debt free.
In my opinion, you should not take a new loan for paying the existing debts. There are other ways to become debt free. A new loan will just create more burden on you because the interest rates are going to be very high looking at your present credit.
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Trenity
Joined: 14 Mar 2006
Posts: 510
Debtcc Points: 6278
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