I need to knwo some alternatives to bankruptcy. I am way in credit card debt, and need some help.?
Due to 2 divorces, and 2 surgeries that weren’t covered by insurance, I am about ,000 in debt to credit cards, , 000 in student loans, and that doesn’t even count my mortgage debt. I am in need of major financial help, but I don’t want to file bankruptcy? Just wondering what other alternatives are out there.
Posted July 27th, 2009 in Bankruptcy Alternatives. Tagged: bankruptcy, credit cards, divorces, financial help, insurance, mortgage debt, student loans, surgeries.
To bring down your credit card debt you should definately call the credit card companies to see is they can lower your interest rate. When you call, ask to speak to someone in financial services. If you explain your situation, they will go over your income and your expenditures (mortgage, hospital bills, etc.). If they decide your debt to income ratio is too high (too much money going out, not enough coming in) they might lower your interest rates. I did this with MBNA (because of stupid college spending) and they lowered my interest rate from 22% to 1%, so I am mostly paying off my balance, and not just my interest. Good Luck!
July 27th, 2009 at 4:36 pmYou do have other options. Talk to a debt specialist to help determine the best course of action. This site has some good resources and information you may find helpful
July 27th, 2009 at 4:36 pmGood Luck
Plenty of good advice here.
July 27th, 2009 at 4:36 pmYou can consolidate your debts. Learn more at:
What is credit-counseling service?
http://www.askaquery.com/Answers/qn492.html
Debt Consolidation – Get Out Of Debt
http://www.askaquery.com/Answers/qn1643.html
How to Hire a Debt Counselor?
http://www.askaquery.com/Answers/qn1584.html
Building Wealth by Reducing Debt
http://www.askaquery.com/Answers/qn1578.html
How to Manage Your Credit Card Debt?
July 27th, 2009 at 4:36 pmhttp://www.askaquery.com/Answers/qn1579.html