Debt solution besides bankruptcy

[ness]

I am in so much debt I don't know how with my income I can get out of it, I need a miracle and advise, please help me.

[T H]

When your debt far exceeds whatever income you might bring in, you are in bankruptsy. Bankruptsy isn't what it used to be either. Chances are that even with bankruptsy you will still have to pay back what you owe. There are no miracles.The best advice I can offer is if you don't really need a loan any time soon and you are about to have your lights turned out because you are either paying your credit card bills or paying your basic living expenses, you should just stop paying on all of it. Change your phone number and get it unlisted and private. Because your creditors will hound you from 8 a.m. to 9 p.m. Make yourself familiar with this too: Fair Debt Collection Practices Act 15 U.S.C. section 1692c(c). You need to start living on your income and your income alone. Start saving....but don't put it in the bank because it can be traced. Buy yourself a fireproof small safe and put your savings in it.Credit card companies like it when you are in so far over your head that you are going to have to work for them for the rest of your life.

[Ronald D]

You should really stay away from these debt solution companies that you see advertised everywhere. They don't do anything special that you can't do yourself. Here are a couple of ideas for you. First, contact all of your creditors and ask if they would be willing to help you out with reduced rates or payment plans. They want your money, so you'll probably be surprised by how much they will be willing to help you out.Second, create a budget. It is critical for you to fully understand where your money is going. You will likely find some areas where you can cut back or eliminate some expenses without have to sacrifice that much.When it comes to credit cards, you absolutely have to pay more than the minimum payment to get anywhere. These simple steps will go a long way to help get you back on your feet.Good luck to you.

[bob]

prosper.com

[KIRSTEN P]

I am first of all sorry that you are in this situation right now. I would recommend that you call the local CCCS or Consumer Credit Counseling Service in your area, you may want to check with the BBB to see the one you want to deal with. This company is a non-profit agency set up to consolidate your debt and lower your APR rate which can help you out a ton. I believe that they ask for a donation, but you are not required to give one. If you have any credit cards that you will be putting into this program they will have you cut them up so you will not be able to use them anymore, their goal is to get you our of debt. Again keep in mind that this is a non-profit company so do not let them tell you that there will be a set fee involved with consolidating your debt. Good Luck for the New Year '08