Posted by Greg on October 13, 2003, at 14:15:12
In reply to How does one handle poverty?, posted by shar on October 11, 2003, at 11:45:56
Because you and I are rowin' the same boat...there is a company called Ameridebt which has a very good rep for helping people like us consolidate our debts into one affordable, monthly payment. You will of course lose your credit cards, and it goes on your credit record. So I don't know how much better it is than taking the 10 year hit and filing bankruptcy quite honestly. I had one friend tell me that they cut their debts down by 3/4 of what they started out with. Not bad.
The other option is to keep paying what you can until you can pay more. The key here is to call your creditors before they have to call you. Believe it or not, most of would rather have a little something from you than to have to go thru the hassle of turning you over to a collection agency. But if you call them up front, lay your cards on the table, I think you'll find most of them will be willing to work with you.
I'm right there with you sweetie. If I don't do something soon, they might as well write Titanic on the side of my boat, cause it's goin' down.