Latest Posts
Home > Ask The Get Out of Debt Experts > Can Credability Help Before We Run Out of Money? – Jim

Can Credability Help Before We Run Out of Money? – Jim

Most of my debt is 90k in a HELOC, and $10k in our home equity loan at the same bank, 27k in 3 PLUS loans for my older daughter, $12k for one auto loan and $13k for the other. Real estate tax is $5k/year, condo/community fee about $2600.

We purposely used the line of credit instead of running up credit card debt, but now that we are approaching the limit of the line of credit, we are building up credit card debt. My gross income is $36k and my wife’s p/t job will be about $9K. Our expenses are about $80k, assuming we don’t have to support our 2 daughters, now that they are both in college and taking out their own student loans. (I was making $80k 11 years ago when we moved to NJ, then was downsized).

What can we do before running out of money? Someone recommended Credability, the non-profit debt counselors. Could they help?

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.

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Consumer

This is information that was submitted by a third party and not generated by or Steve Rhode.
  • Michael

    Hi Jim,

    Credability may be able to help you with some basic budgeting advice and debt education, but the types of debts and the credit products you have listed are not generally the type nonprofit credit counseling agencies (CRA’s) service in a debt management plan where payments are lowered using the one tool available to CRA’s – interest rate reduction.

    I would encourage you to speak with a local bankruptcy attorney and learn in detail what benefits there are for you in filing. If you learn something that gives you pause in filing come back and post a comment reply about what concerns you.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.