Chosen by Asker

Look, debt managements companies can not help you. All they do is piss off creditors that actually have no contract and can just go right through them and to you. Their deal is with you not them. Therefore, they can not stop creditors from taking action either. If you are in collections, call the collectors one by one and offer 50% to settle your accounts and give them a story about how your broke, etc. If you dealing with a good collector you might get lucky. If not than you will atleast get lucky with one of them and save some money there. I settle accounts for people all the time. If you are not in collections, stop spending money here and there when it is not needed and put it towards your debt. I would get a second part time job temporarily also. That way you can make larger payments. No dont go selling your car, etc. That would make bigger debt. Your car is probably now not worth what your loan is for and if you sell it you will have a balance owed to the bank. If you need someone to talk down your bill collector send me and email and I will hook you up. Smile4Cobra@yahoo.com

Source(s)

I am a Collection Agent/Credit Manager

by smile4cobra

3 years ago

Asker's Rating: 

You might contact your bank about consolidation loans. Talk to a representative from your bank to see if they might consider you for a loan to pay off your credit cards. You can pay off your high interest debts with the bank loan, and make smaller interest single payments to the bank monthly instead of paying various different credit cards with varying rates. Your bank should be able to give you more info on this. Realistically, you will not be able to pay off 5 grand in debt in 6 months with less than $500 a month to throw at them. (That's not even counting subtracting living expenses like food, gas, incidentals). You can, however, see about getting a loan from your bank, which puts you on the right road to getting those debts paid off. Hope that helps!

by skylaroo02- 3 years ago

get rid of the cell phone bill & your internet & re-arrange your priorities (you think i am kiding).... make home-made alundry soap instead of buying expensive soap. Line-dry your clothing & ditch the hair dryer (saves on your power bills)... summer is coming up, don't turn on your AirConditioner (also save money on your power bills) -- sell your car that you are having to make payments on & buy an inexpensive one outright (for say $2000 or less) Never, ever eat out (save a whole lot of money) Anything & everthing you buy must be a NEED (like food) and not a WANT (lie a new lipstick color) & must be the very best value for your money... always question this Don't buy ANYTHING if you can't pay cash for it unless it is a house... and even then don't buy a house for more then 150% percent of your anual income & put on a 16 year, not a 20 year loan. Live Frugally... research Frugal living

by Bama- 3 years ago

The answer is: You can't! Mathematically it doesn't work. You need to make more money. Simple as that.

by Millionaire in training- 3 years ago

pay 100 off each month or see if u can make a deal, have to Seattle less then the 5000..

by B.B- 3 years ago

Consolidate your debts, Choosing online debt consolidation is very convenient as it allows you to total all your debts into a single one and then make a payment once a month. The companies offering online debt consolidation allow the interest paid to be treated as tax deductible. These debt consolidators are spread widely and can be contacted easily. Their websites provide all the information needed to help you make the decision. These sites also have links to other consolidators’ websites to meet your needs. They may even offer you online quotes. They provide non-disclosure agreements so that your private information remains private.

by See Saw- 3 years ago