Credit Card Debt Help

The problem is when you are a two income household and then one loses their job or you get a divorce. You can buy a house well within your means but if one of the things I said happens you're screwed. (the sound you just heard is the voice of experience)

 

That is the reason our household keeps all the bills paid by one salary.

 

I remember doing a mortgage with a woman who'd used Alliance Credit Counseling (Ballantyne office). They had "negotiated" lower payments and started mailing them in. Problem was...2 of the creditors never agreed to the terms. So after 2 years they came to me to buy a house. Low 500's. Yes, the 2 cards had been receiving payments, but not enough to cover the minimums. Apparently Alliance just started sending them less money.

I've seen several cases just like this. Oh.....Alliance was "non profit" as well.

 

Once I get out of this mess that is how things will be at my house too.

 

If I get a fair price out of my house when I sell it I can pay off most of the credit card debt, or at least enough of it to get back on my feet.

The government needs to require some type of licensing or something for these debt consolidation companies. Many of them see to be scammers.

 

I know that this is a hard time, I went through a not so fun divorce and lost a good chunk of change and had to live off CC for a little while. i feel for you.

Try and call them yourself, and just explain your situation, if you get someone that seems not to help, hang up and call until you get someone that will help you out some. I used to be a loan officer and like everyone has said stay away from most of those folks, only cause harm it seems.

 

It's the smart thing to do if possible. It helps alleviate the worry of what to do if/when someone gets laid off or has a medical emergency. It's also cool to know we are saving almost the entire second income. Sometimes we splurge, but it's mainly on travel, not on fancy cars, etc.

 

Yea I have been dealing with financial stress for several years now. I am going to get it fixed and it is going to stay that way. It may take a couple of years but I am going to get it fixed.

 

Hubby was telling me about report that he read the other say that said that back when the interest rates got so low a lot of people bought houses in neighborhoods that they otherwise wold not have been able to afford. That was ok because they were just barely stretching themselves BUT once they got into the house that they could just abrely afford, in nieghborhoods with people with higher level incomes then they started maxing out credit cards in order to keep up with the Jones on other things. Lawn care, lawn funiture, home furniture all that stuff.

Now with the interest rates going up and the market being a buyers market they are stuck in those houses. Oh yeah, forgot to mention that many of them got in the houses on ARMs.

 

Not for long.