Have a lot of debt that I need advice on!
I have a lot of debt, including owing Family members money, other little loans with very high interest. I have a great job, but I want to consolidate all my bills and the money, I owe Family and pay everyone off, having only 1 payment.
I cannot sleep at night, I worry just thinking about how I will pay these relatives and bills back. It is driving me crazy. I made some wrong shopping choices, and I seem to be digging a deeper hole. Please give me advice and help me in any way. I know there are investors who want to help people out. Please let me know! Thank You soo much!
Please forgive me if my assumption is wrong or presumptuous but would I be safe is assuming your credit score is not spectacular or above 700? If you don’t know for certain you can visit Credit Karma and check your credit score for free. Please check it and let me know in the comments.
The reason I ask is that the lower your credit score is then the less chance you have of getting a real unsecured debt consolidation loan at a reasonable interest rate. If your credit score is 730 or higher then looking at Lending Club might be a great place to start to get the loan. Lending Club is a peer-to-peer lending network where people like myself help to invest and fund loan requests for people that need unsecured debt consolidation loans.
All of that being said, I would suspect though that a loan is not a great way to tackle this situation unless you have addressed the underlying issues that led to your spending.
Let’s say you are like many and used shopping as a way to improve self-esteem or reduce stress. I’ve seen it far too often that unless treated, the underlying issues will cause this circle of debt to repeat.
In this case the debt isn’t the problem, but the symptom that becomes most apparent.
Can you please give me some more details about the type and amount of your debt? I’d like to getting a better understanding about how much you owe and what type of creditor.
Unfortunately your family and friends have thought they were helping you but by lending you money and bailing you out they’ve only unwittingly allowed you to continue further this dark hole.
I’d also be interested to learn more about what your shopping vice is and what you feel triggers the shopping trips.
It’s time we get a solution in place that allows you to move forward in a positive way.
Please post your responses and follow-up messages to me on this in the comments section below.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Debt comes from my shopping choices and I want to pay Family and Everyone off.
I think Steve, You are right in Your study, about my situation. I think I spend money the wrong way, due to low self-eteem, and when I may be stressed or depressed, to fill a void. I need Your advice on how to get it paid off, and do I need a financial course on how to spend money without getting in debt? Thank You, Lisa