debt management program for my brother
Date: Fri, 01/07/2011 - 12:01
My brother and I live together in our house. He has a lot of credit card debt and a big mortgage. I would like him to get in a debt mangement program to get rid of his credit cards.
The problem is he will need a new car and a computer soon. He will not have the money from his salary to pay for them without using a credit card. We are struggling with the mortgage.
The problem is he will need a new car and a computer soon. He will not have the money from his salary to pay for them without using a credit card. We are struggling with the mortgage.
If he keeps using his credit card, he will never get out of debt
If he keeps using his credit card, he will never get out of debt, so what is the point of debt management? Once you enter a debt management plan, the cards will be closed and his credit score will tank. He needs to completely rethink his budget and his spending...work a second job if necessary. Hopefully he is looking at a very used car and not a new one.
