Brad
“Dear Steve,
My wife and I had our income reduced by $3,500 a month! I admit we overspent, and didnt save. I fell for the ‘balance transfer’ gimmicks offered by the credit card companies, and went head over heels in debt.
I refinanced our home, that was almost paid off! Then they started raising rates, dropping limits, some even closed accounts. We now have over $50,000 in unsecured credit card debt! And owe $100,000 on our home that we bought for $35,000.
We are current on all our accounts, but end up CHARGING prescriptions, or something to make ends meet. We have put off dental work, and eyeglasses. Our income from social security, and retirement is $2,900 a month, about $180 short of breaking even.
Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.
Should I consider a Debt Relief plan, or just go bankrupt?
Brad”
Dear Brad,
While you might think you are current on your bills, in fact you are not. You are making minimum payments by borrowing from the cards to pay for routine expenses. The minute you start doing this you put your debt on turbo and race to the bottom of the financial pit.
With the fact that you are so upside down on the house, your diminished income and your relative lack of savings; bankruptcy is the likely solution.
You should contact a local bankruptcy attorney and go meet with them. Just call and ask for an appointment to come in and discuss consumer bankruptcy and how they can help you. There is typically no charge for these informational appointments.
Thoroughly enjoyed the post. Eagerly anticipating what’s
coming next.I would never have normally come here to read the blogs but I’m
really glad I did. I will definitely be coming back.
Well written article.I appreciate your writing skills.Its great.You have done a good job by sharing this post with us.I like this & would like to read your more updates in future too.Keep in touch with us.
Just came and read, this is wow! I was seek from many blogs, but here is the best, I love it.
My wife and I had our income reduced by $3,500 a period! I countenance we overspent, and didnt refrain. I seam for the ‘balance transfer’ gimmicks offered by the title carte companies, and went knowledge over heels in debt.
.-= 0% balance transfers credit cards´s last blog ..Applying For a 0% Intro Rate Credit Card =-.