have any of you been in debt up to ur eyeballs!?? ugh...well I am...how do you get out??
okay...here's my list of all my debt
1) almost every CC company
2) student loan(yikes)
3) payday loan(bad idea)
4) court fine
5) personal loan(cashcall)
6) and I broke the lease on my last apts. and I still owe them!!!
is there any hope for me?? other than filling debt??? I really don't wanna have to do that.
will I ever be approved for another loan to pay these off??? what's a girl to do? help!!:)
- 1 decade agoFavorite Answer
OK You are really in bad shape. You knew where you were when you posted, right?
For now forget the CC companies, everything there is unsecured. They will call a lot but just let them know you cannot pay at this time. Work that one out later. After 120 days of late they will start to work out a deal where you may be able to settle for a lessor amount. Be polite with them, you will have to deal with them later.
Student loans have to be paid back. Can you put them in forebearance for now. That will buy some time. They are low interest but will still cost you more if you put off paying them earlier. But for now forebearance is the answer.
Payday loans are secured. They are secured by your checking account. In Ohio, anything over $250 on one check, in default, is a felony. Probably in your state it is just as serious. Passing bad checks is very serious, and that is what payday loans actually make you do if you don't pay them back. Get these paid back first.
Court fines must be paid. Talk to the official who makes payment arrangements to get on track to take care of this immediately. Immediately, today. Judges do not have any sense of humor. They are like God in the courthouse. You have the potential to have more than just $ problems.
I'm not sure what cashcall is. I'm assuming that it is similar to payday loan situations. Take care of it asap also.
The lease is important. Your credit is screwed anyways. Talk to them if/when they call. You could face charges on that one too.
Have you learned your lesson. You should have by all you have racked up. Do you know anyone who loves and cares about you to help you out. Not a friend, a relative, that would help you out that you wouldn't dream of screwing up personally or financially. Consider the following.
I worked with someone recently who had $8000 racked up in "cash advance" businesses in a year. They were working full time and only netting $35 per 2 week pay period because of their paying their debts to C A places. They got a loan approved in spouse's fathers name to get out of the rat race. That freed up $1500 per month. That alone changed their lives. In one month they changed their heating system from gas($600 a month heating bill) to electric and they now save $375 a month in the winter.
The choices you make daily will determine where you are and who you are tomorrow.
Read the book "The Traveler's Gift" by Andy Andrews.
- cold_fearrrrLv 61 decade ago
Cut up all credit cards you have left now. Pay one off now if possible and cut up the card but keep the account open for the future. Remmber the number to get a replacemnt card in a year or so.
Make the payments to the student loan. Consolidate if you have not.
Forget the payday loan for now if its unsecured.
Pay the court fine by all means. Work out payment agreement if possible.
Forget the personal loan if unsecured, for now.
Forget the apartment debit for now.
Do not pay on any credit card and don't bother to call them. They mght give you three months but it will not help.
Other than the court and student loan save all of the money you might have paid the cards etc.
Collectors will call. Hang up on them for awhile. After two months talk to them and offer to pay 25% if you can to clear debt. Else offer to pay $20 or $30 per month with no interest until the debit is retired. If they don't want to play then let them send it to a collector. Make small offers to pay by month or 25% of total for payoff if you have saved enough from what you were sending them. DO NOT SEND A PENNY UNTIL THEY SEND YOU A LETTER ACCEPTING YOUR OFFERS. If you do they will hound you for every penny and you have gained nothing. Keep at it until you have very low payments and no interest or settle for pennies on the dollar on every single debt.
The card you kept open might still be available then. Interests rates will be high but you should never use it for more than you can pay end of month ever again.
This will work. Go to a bank and put your pay check in it after a year or so to open a savings account. Walk over to the loan officer and ask for a loan of the amount you have in the savings. Use the savings to secure it. Pay it off in a short time with another pay check and then your savings is freed up and you have a good credit record at that bank.
Know your rights with credit collectors. Hang up the phone. Learn your lesson. Save the money then buy. Do not waste what you would have paid the crads etc. Savee it and use it to get out of debt.
Do this and you will find it will work if yu have the will to stick to your plan. I did it. I got out of debt and still had credit at the bank. Still had my house. Still had a credit card. And beleive it or not pretty good credit buyng a new car 2 years into the mess. Other than the court fine you will not go to jail. You probably will not be sued because you cannot get blood from a turnip. The student loan will follow you for years and you may lose any professional licenses if its not paid.
I know you made the debit but you simply made a mistake you cannot afford to remmedy in full. You are not alone. Banks know the risk and we all pay for it.
- Anonymous1 decade ago
A loan to pay them off?!?!?!!??!! You don't BORROW money to get out of debt. You know how silly that sounds?!?!
Call all of them and work out a payment plan and try to get your interest lowered or stopped.
Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.
You probably need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don't eat at a restaurant until your debts are under control. Take a sandwich for lunch. Cancel the gym membership. If you
Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.
Go to the library and get "The Total Money Makeover". Read it and follow it carefully.
Go check out Dave's website as well.
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- Cake17Lv 41 decade ago
I filed bankruptcy.
- CysteineLv 61 decade ago
Jesus, that is some list. When you are that irresponsible, you might as well declare bankruptcy.
- Count ChoculaLv 51 decade ago
be a surrogateSource(s): www.extraconceptions.com