baby_face_paris
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Cut back on unnecessary spending, get a second job, cut up credit cards, pay off debts with highest interest first. |
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David M
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I am going out on a limb here, but how about repaying them??? |
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There
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Cease incurring new ones and concentrate on paying back the ones you already have, giving a little to each of the creditors, and a bit extra to those who are charging the highest interest.
Cut up the credit cards, and live by the rule that if you cannot afford to pay cash for it, you learn to live without it. |
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Blah Blah
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Stop paying min. on credit card bills. I never understood why people charge without thinking if they can pay it off right away. The APR will kill you.
Pay as much as you can afford, switch to cash only when buying and only buy what is necessary. Use coupons. Reuse shopping bags as garbage bags. Carpool to save money on gas. Use less electricity, if you can see with the lights off, leave the lights off. Bring lunch to work instead of buying. |
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aladdinwa
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Pay them off?
Edit:
Sorry to hear that you got laid off. Check your yellow pages and see if there is a Consumer Credit Counseling firm (or something similar) in your area. They were a great help to us when we go in over our heads. They will contact your creditors and try to work out terms that you can afford. Creditors don't want you to default, either - they don't get their money of you do, and write-offs only make their tax bill lower, it doesn't replace all of the money they lose.
The best thing you can still do is try to pay off your debts. Use bankruptcy only as a very last resort.
Good luck.
. |
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thundernreign29
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Losing your job is very hard to deal with especially dealing with the economy these days. My suggestion to you is this: Find another job---or two part-time jobs. Any job is better than no job at all. Do you have items you can sell such as furniture, clothes, music, etc.? Having a garage sale is an awesome way to earn instant cash, plus rid your home of things you no longer need or want. Will your neighbors let you mow their yards for a fee? I know most adults don't think about this, but sometimes your neighbors don't have a lawn mower or the capability to take care of their own yard. Offering to do some yard work at a reasonable price will definitely get your far.
Think hard where you can cut out monthly expenses. Do you eat out, have cable or drink $4 cups of coffee? Creating a budget will help you see where you want to spend your money. Coupons are great for buying food--some stores will double or even triple the coupon amounts--don't be shy to use them.
Basically, do what you have to do (legally) to earn money again and start working on paying those debts.
Best of luck to you! |
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A Quirk Of Fate
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Reduce your spending, so you can pay off your arrears. |
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NIGEL D
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Pay them off |
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Lee B
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Don't spent unnecessarily through credit cards or any other means. Start paying off debts with highest interest first and seek for debt management advice http://www.shakespearefinance.co.uk/debt-management.html |
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old know all
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Prioritise them. First you need to deal with debts that might make you homeless or put you in gaol. Second, maximise your income - is there any way you can earn more and are you claiming all the benefits and tax credits you can get. Then write to all your creditors and tell them how much you can afford to pay off every week. And then make sure you do.
Your local Citizens Advice Bureau can help you with all of this. |
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*red.hot.&.gorgeous*
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Get rid of any credit cards this way you wont have the temptation to spend money you don't have. Set budgets for things like food, clothes, etc. "downgrade" at the super market e.g buy the tesco brand of beans instead of Heinz there isn't much taste difference, but a huge price difference. Draw out your weekly budget once a week and you'll have to make it last, any money left over put back in to the bank to save to pay off you debt. Then once you've got enough pay off the debt all at once.
Hope this helps
Good luck
xoxoxoxoxoxox |
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URBAN SOUL
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avoid loan sharks.do all of the things already mentioned & change your lifestyle,find a job & have realistic expectations. |
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martin eds
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Sounds silly but buy only fresh food and avoid anything frozen/fast food. You will be amazed how much fruit and veg and meat you can buy for £15 per week.
A simple stew can be made to last a week by keep adding fresh veg and it gets tastier day by day for under a fiver.
Use the money you save to pay off the highest interst accounts first.
I can never understand why it is the poorest people who spend most on ready meals at the supermarket.
Good luck |
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Nat.Knows
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If you are struggling with your debts you might want to consider an IVA or Debt Management Plan? Both of these mean that you pay a lower monthly amount to creditors, which will help you get back on your feet.
Edit** - I wouldn't get a Debt Consolidation Loan as it will be secured against your home. And if you are unemployed and cannot afford to pay it back, it will be at risk! |
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Dimples
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Hi, sorry to hear of your misfortune. I am in the same predicament, having been left with a huge debt by my ex and then being made redundant. What you need right now is some really good advice, my recommendations would be CCCS, PAYPLAN or the CAB. They are all charitable organisations and will not charge you any money. They can help you draw up a budget which will show how much you have available for your creditors, they will help you write to your creditors offering payment even if it is only £1.00 per month and can usually get the interest stopped so that you are not going one step forward, two steps back! They really are great, and will not judge you at all. If you can't face talking to them just yet, then the most important thing to do is contact your creditors and let them know what your situation is. Most will try their best to help you. I was actually referred to CCCS by my bank, who I owed the most money too. Things will get better, and remember being in debt is not a crime! Good luck for the future and I hope you manage to find another job soon. |
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mrkeithscott
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Pay them off. Get a second job. Stop adding to them. Find a sugarmama/sugardaddy who'll take care of them for you. |
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kims G
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Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/Debt-Consolidation-Basics.html |
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justaskjoe
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Pay them off. |
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LOLxKAYLA
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well uhmm most likely to stop spending moneyy |
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pickmefirstplz
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get a job make some money pay your bills |
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kimmy cobaugh
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dont use one |
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Cherrypicker
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Yes, repaying them and not adding to existing debts. Another popular method is to consolidate all your debts with one loan. However, the credit crunch is making lenders nervous and so it is harder to get credit |
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ramrod cowfins
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fake your own death.
canoeing accidents are quite popular... |
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Feelin' fine in '09
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Cheque or credit card. |
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