Noname 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.
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“Dear Steve,
It seems to me that every answer is bankruptcy. I really do not want to give up. We probably have sixty thousand dollars of debt. But I have been able to keep up the payments plus a bit more on every thing each month.
Bankruptcy can not be the only answer. I have been reading these emails and over and over and over it directs people to bankruptcy. I am interested in other options.
Noname”
The Answer:
Dear Noname,
If you can make at least the minimum payments on your debts then use the debt snowball approach to getting out of debt. Follow the debt snowball link. It doesn’t sound like bankruptcy is for you.
If you don’t mind hurting your credit and try to get lower interest rates, try a debt management program.
As far as you suggesting bankruptcy too much, you might want to read something I wrote before, “I Suggest Bankruptcy Too Often, So Say Some.”
