My plan - what do you think?
Date: Mon, 04/30/2007 - 05:44
I have built a rather significant debt amount and am currently trying to fight my way out of a losing battle.
I am tired of working all week (or two weeks as I am paid biweekly)and not having anything t show for it at the end after bills are paid, so I decided to take matters in to my own hands.
I have started fighting back with the credit card compenies that call me. Now, when they call, I simply tell them that i do not have the money at the moment and will pay them when I can. I explain that i am not out to file bankruptcy and I will pay them back when I can.
Along with my regular job, i also design houses from my home. Times are a little slow right now and I only have two current jobs in house but am expecting 7 new ones soon.
My plan is to apply all the money I make off these plans and pay the credit card companies off when I can.
For instance, I currently have one plan in the works that will net me $1500. this will allow me to pay off two bills and be free and clear of them. Once they are paid off, I will negotiate with them to have any negative remarks removed from my credit report.
A couple of the bills are in default now and already reporting 30 days late. Even if they do not remove the remarks, I figure my credit rating should improve as they will show paid in full.
Is this correct?
I don't really want to file for settlement because some of the cards I have will be in continuous use - like Home Depot.
Right now, I am to the hilt with car payments, utility payments and the house payment - this leaves very little for anything else other than groceries.
I have always told my wife that no matter what, we will have a roof over our heads and food in the pantry, so those tyings come first..everything else is second coming with the vehicles coming in line before anything else.
I do not want to file for bankruptcy or a settlement because I feel that these two methods will tarnich my credit rating worse than my current plan...plus it could cause my wife to lose her job because she works at a bank in the loan department.
Plus, we will be placing our house on the market in a couple of months and will be looking to build another one. I don't want anything credit related to be able to cancel our plans.
One my house sells and I start my next one, I will be able to pay off everything I owe (including the cars) and be paying less per month than I ma now.
What are your thoughts on this?
I am tired of working all week (or two weeks as I am paid biweekly)and not having anything t show for it at the end after bills are paid, so I decided to take matters in to my own hands.
I have started fighting back with the credit card compenies that call me. Now, when they call, I simply tell them that i do not have the money at the moment and will pay them when I can. I explain that i am not out to file bankruptcy and I will pay them back when I can.
Along with my regular job, i also design houses from my home. Times are a little slow right now and I only have two current jobs in house but am expecting 7 new ones soon.
My plan is to apply all the money I make off these plans and pay the credit card companies off when I can.
For instance, I currently have one plan in the works that will net me $1500. this will allow me to pay off two bills and be free and clear of them. Once they are paid off, I will negotiate with them to have any negative remarks removed from my credit report.
A couple of the bills are in default now and already reporting 30 days late. Even if they do not remove the remarks, I figure my credit rating should improve as they will show paid in full.
Is this correct?
I don't really want to file for settlement because some of the cards I have will be in continuous use - like Home Depot.
Right now, I am to the hilt with car payments, utility payments and the house payment - this leaves very little for anything else other than groceries.
I have always told my wife that no matter what, we will have a roof over our heads and food in the pantry, so those tyings come first..everything else is second coming with the vehicles coming in line before anything else.
I do not want to file for bankruptcy or a settlement because I feel that these two methods will tarnich my credit rating worse than my current plan...plus it could cause my wife to lose her job because she works at a bank in the loan department.
Plus, we will be placing our house on the market in a couple of months and will be looking to build another one. I don't want anything credit related to be able to cancel our plans.
One my house sells and I start my next one, I will be able to pay off everything I owe (including the cars) and be paying less per month than I ma now.
What are your thoughts on this?
For now, just pay the bills that keep a roof over your head and
For now, just pay the bills that keep a roof over your head and food on the table. Do not worry about these credit cards right now. Tell them to take a number. Come to my site and check on the side, agencies to avoid. See if any of the credit card companies that you are dealing with are listed.
