I have several credit cards I am behind on and can't pay the payments. I have had family sickness for the last two years and I have let these debts get out of hand. When my husband had a heart attack in January, I really let everything get out of control. I haven't bought anything with them but the interest is piling up. I owe these people and want to pay them, I can pay one big payment per month, but I can't pay the balance on all the credit cards I owe. If there is any help out there? Please help me.
There are many forms of debt relief, including: (i) Debt consolidation loans, (ii) Credit counseling, (iii) Debt negotiation, and (iv) Bankruptcy.
Debt consolidation can benefit you in many ways: i) monthly cash flow, ii) total savings, iii) interest deductibility, and iv) your credit rating.
However, all forms of debt consolidation are not the same. You need to consider your specific situation, including if you own or rent your home, your monthly debt to income ratio, and your credit rating. A program like a debt consolidation loan may lower your monthly payment, get you a lower rate than most credit cards, and the interest is tax deductible.
Based on your recent credit history, it may be difficult for you to qualify for a debt consolidation loan, but it is worth exploring.
Bills.com makes it easy for you to apply for a consolidation loan.
As far as bankruptcy, only an attorney can review your situation to tell you whether or not you qualify for Chapter 7.
Alternatively, a program like Debt Negotiation may lower your monthly payment, get you debt free fast, save half of what you owe, but it could negatively impact your credit rating. If you are interested in Debt Negotiation, follow this link: Debt Help
These are a few of the considerations. If you would like more information, please visit our debt relief boot-camp.
I hope this information helps you Find. Learn. Save.