Paula M
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Regarding the "bills you've had for years." Once you ignore them entirely, the statute of limitations clock starts. If you have not made any payments or contacted the creditor directly (or collection agency), those bills are legally void after a finitie period of time..
I mean pay the bills you owe, but the law provides an out. Each state is different, but the most is six years. keep that in mind when laying out your strategy. |
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Richard B
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Bankruptcy is works like this...You negotiate a settlement which you are bound to pay back. If you have bills that you have had for years, then you have to ask yourself if you really want to pay them. If you haven't paid them in years, why start now? They only have 2 years inwhich to take you to court. If someone comes up to you and asks, "Are you ...." or "Mark Smith?" Say no. It is a process server. Unless you owe $60,000 or more on 1 account (not total) Neiman Marcus isn't going to come after you for $2,000.
Just don't pay them anything and if like I said it has been over 2 years then forget it. Your credit is messed up anyway. Just stop living beyond your means and start living fiscally responsible. I know it is hard, but you have to do it or stay in the poor house with bad credit and everything costing you more. |
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jititi j
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Three Suggestions 1) Consolidate your debts 2) File bankruptcy (bankruptcy is not advised for all cases) 3) Contact a credit counselor:
Ways to Consolidate Debt
http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.html
How to Avoid Bankruptcy Explained
http://www.debt-explained.com/category/How-to-Avoid-Bankruptcy-Explained.html
Credit Counseling Programs
http://www.complete-debt-info.com/category/Credit-Counseling-Programs.html |
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Daisy
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Go to the library and check out a book called Financial Peace, by Dave Ramsey. You could also check out his website (www.daveramsey.com). His total money makeover is excellent, and is geared toward those who have way too much debt.
Good luck. |
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Waine
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hi, I don't promise anything but if you are willing to read
people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck! |
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Joe P
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Try credit counseling service or agency that will consolidate your bills into one easy payment per month and deal with all of your creditors. |
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Gigi
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Begin by putting a little money each money into a savings account for yourself. Then, pick the oldest bills (or those credit card bills with the highest interest rates) and try to pay them an amount you can afford to pay them each month and still pay your regular bills on time.
It will take awhile, but eventually those bills will be paid off. |
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kitty.hicks
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You will regret bankruptcy. Better to have bad marks on your credit from not paying those bills than to have a bankruptcy on there. Also once a bill is Charged Off , it may mean you still owe , but there is nothing more that can be done to your credit... so I wouldnt worry about paying the bills that have been Charged Off... check your credit to see which ones have been. |
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?
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i will tell you what i am doing you will need a notebook and write down all of your bills for the month and put the date by each bill. If you have creditcards then put them up and don't used them at all.
The important thing is to set a budget and pay them off one at a time or pay some of them by the minimum amount each month until you are close enough to pay off.
Don't eat out and don't buy things you don't need.
By watching what I use my money on i am doing alot better today. you can do this too.
The other thing you can do is go through one of the credit services to cut down your monthly payment and then set your amount each to pay.
hope that this help |
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Red Hair Sweetie
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Seriously assess 'needs' versus 'wants'. Most people are surprise to find out that they can actually live within their means if they stick to the 'needs'. If you have multiple debts, such as credit cards, first pay more or pay off on the ones that charge high interest rates. Stop using your credit cards and pay everything with cash. You'll learn quickly to live within your means when you see that you don't have much cash left.
Good luck. |
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goober_girl
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DON"T file for bankruptcy. It might not help as much as you think! Get a second job or third whatever it takes. Use the earnings from that job to pay off cards one at a time, but don't default on the others. Pay off the one with the highest APR first. Trust me, I had to do this myself last year. I had eight maxed out cards, totalling over $10,000, to day I have 2 cards equalling $3,000, I paid cash for car ins., and I'm 4 months ahead of my car payments. You can do this! I promise. Just don't file for bankruptcy, it will be certain doom for you. Good luck |
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Cat
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Cut up your credit cards.
Sit down and make a budget based on your current income - and include monthly payments on your debt in that figure.
Then stick to it. Do not spend money on anything you don't NEED. (That includes clothes - go to a thrift store if you're desperate for a fix)
Don't eat out. Pack your lunch. Don't buy pop. Drink water. It's amazing how much of most people's income is spent on things that are completely unnecessary. |
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nerdboy
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Hmm that is no fun at all. Best advice I can say is try and spend little as possible on nonessential items. Locate some bankrupsty counselors (to help prevent it) or see if your local bank has a person to counsel you on money managament.
I would say pay the minimals on what you need to pay it and whatever is left go towards knocking out one thing at a time.
Go get some help...Keep a positive mind about it too. |
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WyoHunter
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See a financial adviser. |
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