C.P. asks from Memphis, TN on January 10, 2007
In So Much Debt
I'm barely can make min. pymnt on my creditcard pymnt. I'm in soo much debt and don't know what to do. I am so depressed, anyone with any ideas that can help me get out of debt. I'm scared if I stop pymnt on all of my cards, it can ruined my credit and hurt me in the long run. I'm just stuck and don't know what to do. HELP!!!!
So What Happened?™
Right now I have sign up with a company called Fidelity Reserves. This company is base in Mobile, Alabama it is a debt management company. I should become debt free in less then 3 years. CAN"T WAIT!!!! I can finally have a piece of mind and not having to worry about credit card company calling me. I'll keep everyone inform in the progress of it. Thanks everyone who have given me great advices I reallly appreciate it.
R.S. answers from Knoxville on February 01, 2007
PLEASE CONTACT CROWN FINANCIAL MINISTRIES!!
they are soooo wonderful!!! you can go to www.crown.org to see their website. other contact info is:
Products and Materials, Donations, Customer Service: 800.722.1976.
Crown Financial Ministries
P.O. Box 100
Gainesville, GA 30503-0100
This place REALLY cares about people. they are not here for the money.
PLEASE call them. they are great. Debt enslaves you. i have been there and am working my way out right now. they have helped me sooo much. please contact them.
good luck. oh, and get a financial coach!!! look on the website.
M.F. answers from Hattiesburg on January 11, 2007
L.G. answers from Hattiesburg on January 11, 2007
I have worked very hard to eliminate all debt from my life and it is a wonderful feeling! I would be glad to share with you my vehicle for creating a Part-Time income equivalent to my Full-Time salary and creating a residual income that can be bequeathed to my children.
If you would like to learn more, visit my site:
B.C. answers from Mobile on January 13, 2007
Hi. First (if you haven't already) you should work up a budget to see what income your family has and then write up all of your bills and see how short (if you are short) you are. You might find that you aren't as short as you think and maybe it's being spent in other areas and you can cut back on some of those areas (eating out, extra groceries, etc).. Once you have done the "budget" you will know how much extra money you need and maybe where you can pull it from or if it's a small amount maybe you could work something part time (say at night if your husband works during the day). Also some people don't think coupons help but they really do as well as buying some store brand products instead of "name brand". Also look at grocery stores and see what sales they are having and if they offer buy 1 get 1 free on some stuff on your grocery list. You might have to make an extra stop but it might be worth it. My husband and I thought we couldn't make it and couldn't figure out where our money was going but when I did our budget (and everything I've mentioned here) we realized how much money was being wasted or spent on needless things. If you want anymore help or want to talk feel free I'm here and hopefully I can help. Also...one thing I've done is I have a calendar JUST for bills and in RED INK I write which ever date they are due and on a piece of paper where the month is I write down all of the bills for the month and how much they are and when they are due and then I check them off as we pay them and scratch them off the calendar but this way you always know what's left for the month and what has already been paid. Also if you (or your husband) get paid on certain days (like my husband only gets paid 2x a month) I go ahead and pay any bills we have that way the money doesn't get spent otherwise (even if they bills arent due yet).. Again if you need any other help or want advice feel free to email me. Take care!
1 mom found this helpful
L.R. answers from Birmingham on January 11, 2007
You can come through this with your credit...My son went through the same thing and he would not settle for losing it... He tighten up and really struggled but he has over come it and now has prefect credit and can but anything he wants. He just turned 26 with 2 children, just bought a home and went through a divorced but He has won that battle.... You can too Just hang in there...... It will get better....
1 mom found this helpful
V.C. answers from Mobile on January 11, 2007
I wish I could be more help but as far as getting out of debt...your guess is as good as mine. I do feel the need though to tell you whatever you do....make your min. payment. I'm going through a divorce and when I got overloaded I just gave up! My cards were very close to their limits so as soon as I stopped making payments, my cards quickly became over the limit. Now with all the fees I don't know how I will ever resolve my debt. My credit is totally ruined. Looking back I wish I would have tried harder to make at least the min. payment. I feel so stupid for not trying harder to pay the little bit that I could. I was just overwhelmed and made a very bad decision.
I hope someone will be able to give you some advice on how to consolidate your debt but please take my advice to heart.
1 mom found this helpful
M.E. answers from Mobile on January 11, 2007
I'm not sure what you've tried already, but there are options. You could get a consolidation loan at a lower percentage than your credit cards, thereby reducing your monthly payment and lowering it to only one payment. (Of course, after you pay off those credit cards from the loan, SHRED THEM!) Next you might have to try getting another income for a short while until you can pay off some of your debt. Put anything that comes in from the extra income (it could be a babysitting job, a pizza delivery on weekends job, telemarketing, etc.) toward the loan pay off. Next, go online and find a site that will help you make up a realistic budget that you can follow. My husband and I use the 'envelope system'. Each paycheck we take money out and put it in envelopes that go toward our expenses. There's envelopes for everything (gas, rent, date night, clothes, bills, misc., dine out, haircuts, etc.) We had to do this when I left my job to have our first child. It's worked great and we know if there's no money in that envelope we'll have to wait until next month for what we want, but the bills are always paid. I hope this helps a little. Good luck!
1 mom found this helpful
S.G. answers from Jacksonville on January 11, 2007
I was excited to get this message today, as I have just started a new business venture and think it would fit you and help you get out of debt working from home. It has certainly helped me tremendously.
Please go to this website: http://www.workathomeunited.com/S.
and check it out.
T. answers from Chattanooga on January 10, 2007
Read Financial Peace by Dave Ramsey. I think his website is www.daveramsey.com He even did a seminar in Chattanooga one time -- It is definately worth goiing to if he comes back. Good luck!
T.B. answers from Auburn on February 21, 2007
When i met my husband he was in debt badly. If your credit cards are you main problem try refinancing your home to pay them off and cut them up but don't close the account that will hurt it. if you don't own your home try to get another card with a lower interest rate and transfer your card to it and then pay as much as you can a month and do not charge anymore on them until they are paid off. Then when you start over always only charge what you can payoff in 2 months by splitting the payments up into 2. But if you have to use them more then you like still try to split the payment up where you pay them off quick to save that interest...
C.W. answers from Memphis on January 11, 2007
What helped us was Dave Ramsey.. our own modified version.. it takes time and effort and a little sacrifice, but now after 4 years and a total debt of over 40,000.00.. we are debt free besides the house. I recommended Financial Peace by Dave Ramsey.. he also has a talk radio show 990 am in Memphis at 3. (I think)