Chris wrote to me through the GetOutOfDebt.org site and asked the following question. 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.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to help me to help others, there are easy and free things you can do, click here to learn how you can help.
“Dear Steve,
I’m 3 months pregnant. I have been out of work since February of this year. I have an outstanding credit card debt of approximately $12,000. I’m afraid that I won’t find a job soon to pay off my debt and eventually be homeless with child.
Are there any companies that provide debt relief for someone who is unempolyed?
Chris”
The Answer:
Dear Chris,
Yes, they are called bankruptcy attorneys. No credit counseling or debt management office will touch you because you need to afford to pay them around your regular monthly payment for them to help.
Nobody is going to give you a loan, unless it is a scam outfit. And even if you did manage to land a job right now you have some pretty big hurdles to overcome in the near future. Once the baby arrives you will have daycare and additional expenses.
I would bet that any debt repayment plan you enter into now, will fail in eight months once those new expenses kick in.
You’ll have to swallow the bitter pill of bankruptcy now to get yourself ready to properly care for your baby when it arrives.
