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Debt Debt Debt

Date: Tue, 10/03/2006 - 13:04

Submitted by anonymous
on Tue, 10/03/2006 - 13:04

Posts: 202330 Credits: [Donate]

Total Replies: 6


Im 24 and I have my own retail business in NJ where I sell sporting goods. Last year over the summer my store almost went under, all of my sales got cut by 1/3. Because my business has been open for about 1yr I was hoping for the best so i decided to pay my bills with my personal Credit card. When Christmas started to become closer my store needed alot more inventory, I decided to open a line of credit which have helped me put a good amount inventory in, not in quantity but in variety to make sure my store looked full.

Im starting to regret opening any lines of credit or paying off my bills with my Credit cards. Im 24 and im roughly $20,000 in CC debt and about $50,000 in store debt because of the line of credit. Now I know its ok to be somewhat in debt at my store but im scared about my personaly debt.

I still have a fantastic credit rating which is roughly 750 the last I checked but little by little im starting to get behind on my minimum payments which is starting to add up to about what I pay myself not including my Truck payment which I need to haul large items around.

I hope this makes sense when I get emotional my mind goes crazy and sometimes its hard to figure out what I am trying to explain. But I have found this website and I have been waiting for roughly 5hrs to get a return phone call to help with my consolidation. What is a rough turn around time?

Thanks for reading


The consultant will call you either by today or surely by tomorrow morning. Don't worry on that. :)

I don't have much information about your situation. But I feel that the debt amount you have is quite huge. Maybe, you will get better results if you go for a settlement plan rather than consolidating your debts. Settlement will reduce the total debt by 40% to 60%. In consolidation, you will get reduction in the interest rates and most late payment fees will be waived off. This will also reduce some of your debts. You must get a better understanding about each of the programs before signing for the one that suits to you. Meanwhile, read this article and know the perfect debt solution for you.


lrhall41

Submitted by keystrokes on Tue, 10/03/2006 - 13:54

( Posts: 495 | Credits: )