huge debt
Date: Thu, 09/28/2006 - 18:45
I have 118K in credit card debt. I just found this out 2 months ago as I haven't handled the money in our home. Poor money management, living beyond means, HUGE reduction in my salary (to zero) and financial burdens with family additions.. All this in the last 2 yrs.
My question is how do I get out of this? I was going to refinance my home but even the money I would pull out to pay toward the debt would only take care of about a third of it... And my house would be maxed out.
I've talked with 2 companies today with diffrent solutions. Hess & Kenneday and Excess debt solutions. Tonight after finding this site, I'm afraid of the industry of debt consolidation/settlement.
I truly have no clue where to turn or what to do.
Thanks
Cecilia I have 43k in debt. My income was slashed in half. I st
Cecilia
I have 43k in debt. My income was slashed in half. I struggled to keep up my payments. Go to the welcome site & register. They will give you free advice. I just signed with a company that I read about here. Read the comments about companies that are on here. They will say who are bad companies. Good luck & stay in touch
Cecilia 118K is a huge amount of debt. If I am in your shoes,
Cecilia
118K is a huge amount of debt. If I am in your shoes, I will actually consider a settlement program over a consolidation plan. The latter plan will take long time to complete and there won't be much of a saving.
When you take a settlement plan, debt total can be reduced to as much as 40% - 60%. You will save a huge portion. When you are making your payment plan, follow certain points mentioned below
http://www.debtconsolidationcare.com/settlement-ways.html
