under heavy debt.
Date: Sat, 01/02/2010 - 22:14
Submitted by Chandrashekhar
on
Sat, 01/02/2010 - 22:14
Total Replies: 11
Ok, Now i will explain my problem.
I am just 20Year old & under debt of 55K. My income is not good. Days to days my credit is going down. I have monthly income around 3K. Please help me to manage my financial condition. Your opinion is important for me.
How much money do you need to live on each month, not counting c
How much money do you need to live on each month, not counting credit card bills? If you can put away 500-1000 each month in a seperate savings, you could settle these cards in a reasonable amount of time. Your credit will take a hit, but your only 20 and have plenty of time to build up good credit after you get out from under this debt. You can settle these cards yourself, all the info is on this site and lots of people are here for advice along the way. The first step is to stop paying your credit card bills, paying the min. for 55k will take forever to pay off. You will have to deal with the phone calls which is not to bad, you turn the ringer on your phone off and let the answering machine pick it up. Use your cell phone for your personal calls and just talk to them about once a month and let them know your situation. Do not send any money in no matter what they say.
your first thing that you need to do is assess the situation. f
your first thing that you need to do is assess the situation. figure out how bad things really are. things you absolutely cant do without like electric bill, and car insurance, house payment or rent go in one pile everything else in another. pretty much anything else you can live without. alot of people believe cell phones and house phones are necessities but not really. unless your job requiresyou to have one get rid of it or make them pay it. cut out all the fat out of your spending and figure out if you need a debt management, or consolidation or if you need to go the settlement route or bk. but first you need to figure out were you are and trust me its a scary thing but you need to know in order to figure out what you need to do to change it.
You would have to prioritize your different credit cards. How de
You would have to prioritize your different credit cards. How delinquent are they? How many cards are there? Who are you creditors? Depending on your situation some cards are easier than others. Also the state you live in matters too.
your 20 years old and 55k in debt? a word of advice stay away fr
your 20 years old and 55k in debt? a word of advice stay away from credit cards. some people do not know how to handle debt and live with in your means
Have you tried debt negotiation? I was able to pay off my Americ
Have you tried debt negotiation? I was able to pay off my American Express card by paying only 17% of what I owed with Legal Credit Card Help at www.CreditCardDebtNegotiator.com. Hope that helps.
Quote:Originally Posted by AnonymousHave you tried debt negotiat
Quote:
Originally Posted by Anonymous Have you tried debt negotiation? I was able to pay off my American Express card by paying only 17% of what I owed with Legal Credit Card Help at www.CreditCardDebtNegotiator.com. Hope that helps. |
Wow...TWO references to this same company from different usernames; on the SAME day. Interesting.
http://www.ccdnscam.com/2010/01/ccdn-employees-run-debt-settlement-company/
Quote:Originally Posted by AnonymousWow...TWO references to this
Quote:
Originally Posted by Anonymous Wow...TWO references to this same company from different usernames; on the SAME day. Interesting. http://www.ccdnscam.com/2010/01/ccdn-employees-run-debt-settlement-company/ |
This site should require posters to register and the admins should monitor ip addresses.
Quote:Originally Posted by tyggerThis site should require poster
Quote:
Originally Posted by tygger This site should require posters to register and the admins should monitor ip addresses. |
I completely agree.