I have a lot of debt and am behind on credit cards/pay day loans?

Creditors are harassing my parents daily (that I am already estranged from – they live in a different state). I have had 2 garnishments on my pay that have been satisfied. I don’t know what to do or even how to begin the process of cleaning up this mess. Where should I start? I am a single Mom I live paycheck to paycheck and just got out of a domestic violence situation – spare me the lectures.

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5 Responses to “I have a lot of debt and am behind on credit cards/pay day loans?”

  1. Kelly said:

    bankruptcy or consolidation

  2. Sharon T said:

    Non-profit credit counseling service in your area.

  3. LUKE said:

    Chapter 7 Bankruptcy.

    I declared Chapter 7 bankruptcy in 1998. Before I did so, I was in more stress than you can imagine. I couldn’t sleep, couldn’t eat, thought I was a complete failure, actually felt like killing myself. Well, I finally decided to shop around for a bankruptcy attorney. After interviewing six, I settled on one and filed.

    Guess what? I still had a job the next day, I still had a car the next day, and every time a debt collector called I simply referred them to my attorney. After a couple weeks, all my creditors had received notice from my attorney and stopped calling completely. My life went on as normal, but with no collection phone calls or letters.

    A few months later, I had my court date and the only creditor that bothered to show was Sears. I answered a few questions, and it was over. I woke up the next day and guess what? I was DEBT FREE!!!

    Yeah I had terrible credit, but I already had that before I decided to file. The difference was, I was DEBT FREE!!! Debt free is a magical thing, a special thing. It’s like a thousand pound weight taken off your back. Debt free is a place that a smart person never wants to leave.

    The bankruptcy stays on your credit for 10 years, but once again i say SO WHAT? Nobody i knew ever found out about it, unless I told them. I went on about my life with new confidence and a new goal. Stay DEBT FREE!!! Now my whole paycheck is mine. I pay the normal stuff like rent, utilities, etc; but no credit card or bank claims any of my money each month. Instead of paying them, I pay myself. I now have a big savings account and a big 401k. That bankruptcy is in the past, and I have to remind myself that it ever happened.

  4. Julius said:

    you really have two choices. One is bankruptcy chapter 7 as explained by someone else here but you have to realise that stays on your credit record for ten years and if that does not bother you then this may be a solution. Debt settlement is another option but most debt settlement firms take their fees upfront and have to make sure you can afford them and that.

    before you do anything get some free advice from a non profit organisation and do not let these creditors bully and threaten your parents. Read the information below and find one of the organisations that can give you help from those links.

    Ignore those two idiotic scammers appropiately named Mr and Mrs.

  5. Financial Guy81 said:

    Here is an article that can help you in your search. It is a review of a company I personally used. I was in a simillar situation as you and they where able to help me pay off my debt in 2 years. They stopped all calls from creditors and reduced my monthly payments to something that I could afford. My credit rating actually went from the mid 500s to a 680. My debt to income ratio was reduced to nearly nothing which was the main reason for the increase in my credit score, but they also assisted in removing negative marks on my credit and unlike debt consolidation, or debt settlement, I don’t have to worry about any negative marks following me around for the next 7 years. Thanks to them, I was able to get a loan for a home (just in time before the $8000 tax credit ended…phew). They have a gaurantee on everything and have an ebook and video you can watch. They also will meet and consult with you for free to see if this is right for you.

    Good Luck!


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