I found you from doing some research on Credit Arbitrators, a company that has been mailing me their literature. I have been stressing out over my credit card debt for several years now. I can only afford the minimum payments and as a substitute teacher, it is becoming more and more difficult as the minimum payments get higher.
I am writing you because I do not want to declare bankruptcy and I need a sense of direction and hope for getting out of debt. I watched your interview with Gerri Detweiler and saw the video of your bankruptcy story (with with wife).
I am not sure if i need to sign up with a debt settlement company (like Credit Arbitrators), explore bankruptcy options, etc. I know there are options for me. I am 47 years old, single, no kids and i worry about not having enough saved up for retirement.
Any suggestions or advice would be greatly appreciated! Ineed to have a path and a plan for improving my financial situation. My current strategy I would describe as “Do Nothing.” It’s not working. Thank you very much and i look forward to hearing from you. Thank you kindly.
I am not sure what my question is, Steve. I guess it would be: How do I get out of credit card debt? (I have 25K in debt), and strart feeling hopeful about my financial future. What are my options? and do I need to consider bankruptcy as an option? When i think about how much my debt is, I feel very hopeless and depressed. thanks.
Well first let’s start with your options. You can use the online How to Get Out of Debt Calculator to compare your major options.
I always think that no matter which final option people may select to tackle their debt problem that talking to a local bankruptcy attorney is always a good idea. At the very least you’ll understand what bankruptcy would mean for you and then you can use that information to make an informed decision.
Poke around a bit and talk to a local bankruptcy attorney and then come back and update me in the comments section below.