Financial advice, please!

Tue 7 Oct, 2014 08:06 pm
No one else is saying it, but I will. If you are unable to pay your debts, bankruptcy is a legal option.

Of course this will destroy your credit for a while. But sometimes it is the best option. And if you are going to go down this route anyway, it is better to do it sooner... take the hit, and then get on with your life. There is life after bankruptcy.

Of course, it you have the realistic ability to pay your debts in the foreseeable future, you should. But there are times when bankruptcy is the correct way forward. It is certainly better than being in the claws of debt collectors and sharks.
cicerone imposter
Tue 7 Oct, 2014 08:34 pm
True; even businesses do it.
0 Replies
Wed 8 Oct, 2014 05:03 pm

Why does everyone assume if your in debt you must be buying perfume and God forbid make up (I doubt is buying makeup has put anyone in the poor house), or eating out too much, or even watches TV?

That's bullshit.

If the individual is of low income, then public assistance might take care.

If the individual suffered a loss (a husband or wife) and got in debt, then next time don't rent silly limousines, buy the cheapest coffin (don't rent a luxury one to be exchanged later), avoid funeral services, reject maintenance of the burial place, and from 10 to 20 thousand bucks the burial will cost no more than 3 thousand dollars. The integrity of a dead person is respected just by burial underground in a coffin or a bag. The rest is just pretentious.

If the individual got in debt because medical bills, well, you want to stay alive... it will cost you... it is painful to see it this crude way... but this is the way it is.

But, if the individual got in debt because bought things like crazy, dresses, 50" TV for the bathroom, a new car, expensive parties for the children and so forth, and now is in trouble because the money must be paid back to the loaner, then... sacrifice my dear, sacrifice... stop buying and start paying...
0 Replies
Mon 17 Nov, 2014 08:29 am
Ways to reduce debt:
1. Pay more than the minimum
2. Snowball your debt payments
3. Cash out your savings account
4. Borrow against your life insurance
5. Finagle family and friends
6. Get a home equity loan
7. Borrow from your 401(k)
8. Renegotiate terms with your creditors
9. As a last resort, file bankruptcy
0 Replies
Thu 20 Nov, 2014 01:03 am
To get out of debt fast you can take stock, Get a better credit card deal, try to get high scores and also check your credit scores.
0 Replies
Mon 24 Nov, 2014 05:26 am
If you are having difficulties with debt as many people are you may be searching for a way to pay back your bills and get back on track financially. Debt consolidation financial loans for bad credit profiles are one way to pay back your debt. Here is a list of units which provides best debt consolidation loans for people with bad credit:
Banks and credit unions
“Payday” Lenders
Debt Consolidation Lenders
Consumer Counseling Agencies
Debt Relief Companies
0 Replies

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