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Nearly All of My Payments to Beneficial Go to My 29% Interest Rate. How Do I Get Out of Debt? – Trevor

We had some financial issues and had to get a loan fast, so we went to Beneficials loan services, got a $9000 loan. the interest is 29% and over the last three years we’ve payed it down to $8800. Doing the math we have paid $8900 in interest, and the company will not help us to lower our interest or even work w/ us.

How can we solve this problem, our credit is ok and we are on a one income life. Do I try credit counseling, try for a settlement? We are in great need of advise thank you.

Trevor

I’m currently backed-up on answering questions so I’m posting some of the questions here for you to help answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.


Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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