Over my head in debt

Date: Thu, 07/27/2006 - 11:56

Submitted by anonymous
on Thu, 07/27/2006 - 11:56

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Total Replies: 2

Because of helping others, I have put myself in the position of being so far in debt that I have no way out. A friend with cancer, I paid her bills for 10 months, my mother moved in and I take care of her, and an abused young woman needed a safe place to go. So needless to say, because of my weakness to help others, I now cannot pay my bills and I don't have $30000.00 equity in my home. I am trying desperately to get a consolidation loan, not a home equity loan. If you don't do consolidation loans, please let me know up front. I am running out of time, and close to being out of my mind with stress and worry. I have been employed at the same place for 7 years and my credit has never been in trouble like this before.

Thank you,
Eloise

fmaguire, Since you have signed up with this site, a counselor

fmaguire,
Since you have signed up with this site, a counselor will be calling you to discuss your options. You should receive a phone call within a few days, however the companies do give consolidation loans, they assist you with consolidating your bills and working with your creditors.

lrhall41

Submitted by PinkLady on Thu, 07/27/2006 - 12:44

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You can wait for one call from the consultant who will let you k

You can wait for one call from the consultant who will let you know about your options. As per your situation, the counselor will help you in deciding if a consolidation program will work for you or a consolidation loan.

My take is that you should not take a new loan to pay the previous debts. You are forced to pay the interests twice on the existing debts as well as on the new loan amount. Besides, you need to have collateral when a loan company offers you new credit. This is not compulsory in a consolidation program, though.

lrhall41

Submitted by GunsNroses on Thu, 07/27/2006 - 12:56

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