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Is this the right thing for me?

Date: Thu, 01/25/2007 - 01:18

Submitted by mtodd
on Thu, 01/25/2007 - 01:18

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Total Replies: 4


I am not in any sort of crisis whatsoever. My problem is that i fall behind for whatever the reason(car breaksdown, Christmas). well i am behind again this last time i was laid off and it was a month before i found something new. so on top of being behind pretty much 2 months behind in everything Christmas hits right after i start my new job and more money goes right from the paycheck to baby toys.(rather that that bills anyway) well long story short i feel as if im always playing catch up and if i could get this loan to get caught up with my new job ill actually be able to save money instead of living paycheck to paycheck. i just need to get somethign small to clean up everything im behind on, some medical bills for my wife and a student loan. all is probably under $5000 and i was just wondering if this would be a good idea for me? and if so once i go in and speak with them how long are we talking before we see some money? im tired of making the most money ive ever made just to pay late fees and late bills. any ideas let me know thank you


I strongly suggest you to sit with a consultant and discuss about your financial problems. Don't take a new loan for paying the existing debts. This won't be a helpful move when you are already struggling with your finance. You will be able to pay this debt under an easy repayment plan without taking a new loan. How much can you afford to pay each month after deducting all other necessary expenses? Do some calculations and estimate your payments with a consultant.


lrhall41

Submitted by Howard on Thu, 01/25/2007 - 10:16

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Mtodd, Take advantage of the free call that you will be getting from a debt counselor. These people are trained in debt issues and hopefully can come up with a plan to get you back on track. Best Wishes Kyside38


lrhall41

Submitted by KYSIDE38 on Thu, 01/25/2007 - 11:25

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thank you both for your responses. so explain to me what i need to deduct to know how much i can afford monthly. i am on a repayment plan for my house for this past month and next 2 months to get it caught up. and then just last months regulars and this upcoming month is coming in. then i owe a student loan and my wife has some medical bills. so i really dont have a lot of debt i just didnt know if i needed a loan to get over this hump. so besides needing to know what to deduct what is this consultant going to do or say (in general, i know thats why i need to talk to them). what i mean is, are they just going to tell me to make a budget or call all my collectors and set up repayment plans like i did on my house, just what exactly is going to come from it. thats all for now thank you both once again and please keep helping it means a lot.


lrhall41

Submitted by mtodd on Thu, 01/25/2007 - 20:50

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Student loans can wait for a while if you are not able to pay everything at one time. Give first preference to your house payments. If you get too much behind, your lender will try to seize the house. You need to immediately catch up the payments on your house loan. Figure out all other expenses that are necessary in each month. Calculate your total income and figure how much you can afford to pay towards other debts. This program is going to allow you some saving. The consultant will do the budgeting and negotiate with your creditors for a lower interest rate. Keep making the payments in the plan and your debt will get erased.


lrhall41

Submitted by Howard on Fri, 01/26/2007 - 09:18

( Posts: 310 | Credits: )