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Mrs213
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Member since 2/09 18986 total posts
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Anyone ever do debt relief
After 2 job losses in 2 years, we are finally back on track, however with 2 in daycare, we barely have enough to pay anything down on our sizeable credit card debt. Does anyone have any advice? Im wondering if bankruptcy is a better option. I just don't want to lose my house...
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Posted 7/22/17 6:14 PM  |
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Millie3
LIF Adult
Member since 7/13 1280 total posts
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Re: Anyone ever do debt relief
That's a tough situation. I haven't heard the best things but I don't really know. I always think the best bet (if you and your husband are private sector) is to look for a new position with increase in salary. Hope everything works out ok
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| Posted 7/22/17 8:40 PM |
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Mrs213
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Member since 2/09 18986 total posts
Name:
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Re: Anyone ever do debt relief
Posted by Millie3
That's a tough situation. I haven't heard the best things but I don't really know. I always think the best bet (if you and your husband are private sector) is to look for a new position with increase in salary. Hope everything works out ok
We actually just finally got jobs with decent salary. I am working for the county which will have steady increases over time so this is a temporary issue for sure. Not sure about these debt relief programs as I've heard many of them are a scam. Thanks
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| Posted 7/22/17 9:03 PM |
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Millie3
LIF Adult
Member since 7/13 1280 total posts
Name:
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Re: Anyone ever do debt relief
Posted by Mrs213
Posted by Millie3
That's a tough situation. I haven't heard the best things but I don't really know. I always think the best bet (if you and your husband are private sector) is to look for a new position with increase in salary. Hope everything works out ok
We actually just finally got jobs with decent salary. I am working for the county which will have steady increases over time so this is a temporary issue for sure. Not sure about these debt relief programs as I've heard many of them are a scam. Thanks
Perfect! Wonderful start, and many of us including my family , really struggle with the cost of childcare. It's rough
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| Posted 7/22/17 9:24 PM |
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Disneygirl17
LIF Toddler
Member since 11/16 496 total posts
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Re: Anyone ever do debt relief
I just did with my credit union. 1.99% interest for a year. It was an incredibly simple process and my cards are still open so my score won't take a huge hit.
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| Posted 7/22/17 10:12 PM |
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Anyone ever do debt relief
I would transfer a balance to a 0% insterest card. If you don't mind me asking, just how much CC debt is it? I don't think you would loose your house as long as you're paying your mortgage and at least paying the minimum on the cards. Sometimes, balance transfer is the best way when its 0% interest so the payment actually knocks down the principal
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| Posted 7/22/17 10:45 PM |
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jellybelly79
LIF Adult
Member since 5/06 3389 total posts
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Anyone ever do debt relief
I did
I had 17 credit cards, yes 17
I did the consolidated credit company and it was the best thing ever
I owed about 30,000 and I paid it off in 3 years
They took care of everything for me
My credit score is now 760 and I stay away from the million cc offers I get in the mail
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| Posted 7/23/17 7:46 AM |
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BabyLove08
Love her!
Member since 2/08 3673 total posts
Name:
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Re: Anyone ever do debt relief
Message edited 7/23/2017 3:53:43 PM.
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| Posted 7/23/17 3:47 PM |
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Mrs213
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Member since 2/09 18986 total posts
Name:
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Re: Anyone ever do debt relief
Posted by TwinMommyToBoys
I would transfer a balance to a 0% insterest card. If you don't mind me asking, just how much CC debt is it? I don't think you would loose your house as long as you're paying your mortgage and at least paying the minimum on the cards. Sometimes, balance transfer is the best way when its 0% interest so the payment actually knocks down the principal
Yeah, its exorbitant. Unfortunately I've exhausted my balance transfer opportunities. They're actually slashing my available credit at this point
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| Posted 7/23/17 7:28 PM |
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Jenn79
One more?
Member since 2/12 2410 total posts
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Re: Anyone ever do debt relief
Friends of mine were in the same situation and they filed bankruptcy and didn't lose their home. I'm not sure if it's a different chapter or if there were specific reasons why but maybe you should check into that.
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| Posted 7/23/17 8:48 PM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Anyone ever do debt relief
I know people who have done both Bankruptcy and Debt consolidation.
There is a way to do it where you don't lose your home or vehicles.
I think it would be beneficial for you to make an appointment with someone in both areas and decide which will work best for your family.
Wishing you the best
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| Posted 7/23/17 9:39 PM |
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