should i take loan, debt settlement or bankruptcy
Date: Mon, 11/10/2008 - 17:45
I have a credit card debt of about 6500 and my car got repo'd and now owe 9975. I used to work for a very good company and was getting paid 80 grand a year but things changed and had to move and now i live in ct and had to settle for a 32000 a year job with commission. But i don't want to factor that in with my expenses. Also, i ahve no car and i am using my sisters car. I want to get a new one so i was thinking of getting a loan with my sister as coborrower to better my chances and enough loan to pay the 9975, 6500 and a new car into one monthly payment. Or should i get debt settlement so they can negotiate with collection agencies for my debt or should i file for bankruptcy? Please advisee. Greatly appreciated.
You can get a clear idea on the various debt solutions from the
You can get a clear idea on the various debt solutions from the following page: -
Debt Solutions - 3 steps and 5 ways to do it
If you ask me personally then I always try to avoid bankruptcy.
getting a loan?
Please think very carefully before getting a loan. I tried it a year or 2 ago & it worked for a while but in the end made things worse. I am still paying for my mistake so please, please, please do not make my mistake. Talk to an attorney that gives free consultations & at least get his advise before you act. Maybe my mistake can keep you from making the same one. Good luck!
Hi Seed1123, It is not prudent to take a loan at your positio
Hi Seed1123,
It is not prudent to take a loan at your position. A debt settlement will be a better option. Debt settlement can lower down your debt from anywhere between 40% to 60% or sometimes even higher. To know more on Debt Settlement please go through the following page: -
Debt Settlement - can it lower my outstanding debt balance by 40% to 60% ?
In fact you can settle your debts by yourself. To know all the steps for settling your debts by yourself please go through the following page: -
Step by Step Guide for settling your debts