debt

Date: Mon, 07/05/2010 - 13:25

Submitted by anonymous
on Mon, 07/05/2010 - 13:25

Posts: 202330 Credits: [Donate]

Total Replies: 2

hi my dad has about 7,000 in c.c debt and is living on 1500 a month which doesnt include 541.00 a month for a car payment he was getting unemployment benefits but they stopped he is 68 yrs old and has breathing issues which could deter him from getting a job what is the best way to go? he cant spens a lot of money for a debt company and does not want debt settlement thanks

well, if he does not want debt settlement there is bankruptcy.

well, if he does not want debt settlement there is bankruptcy. not sure where you want to go with this. If you dont have the money there are only a couple of options. obviously, I prefer debt settlement.

lrhall41

Submitted by dantheman on Mon, 07/05/2010 - 18:55

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Patty, if your father does not want to settle his debts, he can

Patty, if your father does not want to settle his debts, he can do debt consolidation. He can transfer the balances from high interest credit cards to a low interest one, or a 0% balance transfer card.
Thus, the interest rate gets lowered. Moreover, instead of making several payments towards the different cards, he can make a single payment towards the whole debt. However, if he fails to consolidate his debts himself, he can enroll into a debt consolidation program. A debt consolidation company helps in consolidating the debts. The counselor negotiates with all the creditors, and lowers the interest rate, and the monthly payments. Thus, it becomes much easier to pay off the debt.

lrhall41

Submitted by SC on Mon, 07/05/2010 - 21:32

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