Two months ago I maxed out all my credit cards and opened an unsecured personal loan because I needed cash for family emergency. Now I have approximately ,000 debts from credit card companies and bank (all unsecured). After one month, I couldn’t afford to make the payments. For my situation, I don’t think I am able to payoff all the debt. What are my options now? When would the credit card company sue me? Can they garnish my salary? If the debt transfer to collection company, how much can I bargain off for a lump sum payment? Should I settle the payment myself or go to debt consolidation company? How many years the bad record would stay on my credit report?

I live in California. I’m working full time with ,000 annual salary. The only property I own is a free-and-clear car (2007). I might able to borrower ,000 from my girlfriend if a lump sum payment is offered.

Please answer as much as you can. Your help is much appreciated. Sincerely thanks.

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I am not sure if i file for bankruptcy or not? I have about 20,000$ credit cards debts, and i have also 20,000 unsecured personal loan.

Technorati Tags: bankruptcy, credit cards, debts, unsecured personal loan

I am looking for an unsecured personal loan between ,000 and ,000–but I have past bankruptcy and a low credit score. I have researched and only found the same companies that keep turning me down or companies that want a fee to help me find a loan. Are there other alternatives to these? NEED HELP PLEASE!!!!
This loan is for an expansion on my business, and I have heard of prosper.com– just recently and I have joined. However, it looks like people with with a grade of E and the amount I am needing for my business may not get filled.

I also have only applied for 2 personal loans in the past 3 months. I do know how credit works and have managed to raise my score by 100 points, but this is something that does take time.

Unfortunately I am losing money without the money I need for an expansion, so I don’t have time.

Technorati Tags: bankruptcy, credit score, money, personal loans, unsecured personal loan