Went through divorce, had to pay for the divorce, start all over and took some debts out of our marriage.
On top both my parents passed away and I had to help with costs and other expenses. Do not receive any support from my ex-husband and have to pay for expenses for our kids. Until now I was able to make my monthly payments, but a barely make it and my daughter will have to go in 2-3 years to college and I would like to have a fresh start by that time, in case I need to help and hopefully I could save some money before that time.
I contacted Franklin Debt Solution and I would like to know if you think that would be the right way for me to go. I tried to get a personal loan to move everything in on loan (25k), but I am unable to do so and do not own a house to loan against.
So I am stranded with high monthly payments and I can not get my debts reduced or realy paid off with only the minimum payments.
Looking forward to your advise…. Anja”
A few points come to mind immediately.
- The quickest way to dispose of unmanageable debt and start over is with bankruptcy. Hands down. If you qualified for a Chapter 7 bankruptcy your debt could be discharged in a few months and rebuilt within a couple of years if you follow my guide. Additionally, bankruptcy is not a limiting factor for guaranteeing government backed student loans if you wanted to do that for your daughter.
- If you are looking for a consolidation loan for less than $26K then look at LendingClub.com. It is a peer-to-peer lending network. Rates are generally lower than a bank and they do unsecured debt consolidation loans.
You can click here to find a local bankruptcy attorney and if you’d like a second opinion about your situation or a personal consultation by another debt coach, please feel free to contact
Please post your responses and follow-up messages to me on this in the comments section below.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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