Current problem: Need $2500 to stay out of danger with house and car payments. Already have terrible credit and $1250 (plus all the fees imaginable) in payday loan debt. If I could just get out of this hole, I could start to make improvements with other bills. Have taken on a second job to keep up with everything.
We do have a longer range solution, as my husband has filed for SS disability for very legitimate and documented reasons. When that come through, we should be able to get by until we can pay more things off.
I am terrified by debt management companies. My husband tried one, because he believed they would really help. They did nothing. After much arguing he did get all our money back except about $50.
Have you heard of Relief LLC out of NV? Are they legit?
But I’m stuck in wondering if simply targeting the payday loans is the wrong approach. When people have money troubles they generally are not limited to one class of debt. They generally involve other loans and obligations as well.
In your case you mentioned you want to stay out of danger with the house and car payments and you allude to other bad debts with your “already have terrible credit” comment.
In my opinion you are much better off to invest whatever the fee would be for the Relief, LLC service into a Chapter 13 bankruptcy. In a Chapter 13 bankruptcy you’d be able to keep your home and car, all collection calls would have to stop by law and a reasonable repayment plan would be developed based on what you can actually afford.
Before you do anything else or sign a contract with any company for debt help, click here to find a local bankruptcy attorney and go talk to them about your situation. Don’t make a costly mistake that does not address your overall situation and help you to get a fresh start beginning today.
What do you think? Make sense?