Can somebody tell me a good way to settle my credit card debt without destroying my credit? ?

Question

I recently lost my job and i can`t keep paying not even minimum balances. I have around $9.000 in debt and minimum balances add to almost $500 a month + i have the car payment with insurance $600 a month. Please guide me to the best solution that i have without destroying my credit score. Thank you

Answer 1

Sell that car, and pay off the credit cards. <}:-})

I had to sell my Jeep. <}:-{(

Answer 2

I would suggest a NON PROFIT credit counselor.  They will get your interest "frozen" and work out a repayment plan and keep your credit intact.  Make sure it is Non Profit.

Answer 3

Take any job you can get and keep paying. You may have to do two jobs for awhile until the right one comes along, but don't fall for those scammers that offer to settle  your debt for pennies on the dollar. So many of those companies will ruin your credit. If you can even work 40 hours at minimum wage, you can pay these payments. You will then have to have another part time job to raise cash for food and other essentials.

Can you move in with someone, or get another roommate to help offset expenses? Can you sell your car and get something less expensive, or take public transportation for awhile?

Don't use the credit cards for anything anymore. Live as frugally as you can. If you have anything you can sell on Ebay to raise some cash, do that.

If you have a relative who will help you out temporarily, borrow only what you cannot earn, and set a payment reschedule based on the same rate a bank would get, and have it go into effect when your work situation recovers.

It doesn't take long for things to spiral out of control when you are in this situation, but you can stay above water with time, hard work, and being as frugal and creative in making money as you can. When I was in a similar situation in my 20s, I rented a large house and rented out rooms to college students, and made enough to pay my housing and utiities, so all I had to earn was enough to pay for my medicines and car and insurance. In turn, I cooked for them, and was able to make it even though I was in poor health and only able to work part time. Just find what works for you.

Best wishes.  

Answer 4

first tell which country you are in?

Answer 5

The best solution is to get a new job as soon as possible.  Work 2 jobs if you have to until you pay down the debt.

Answer 6

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Answer 7

Unfortunately, there isn't one barring getting a sugar mama or daddy.

If you have no income at all, better find the money to get a Chapter 7 bankruptcy.  You'll need to talk to an attorney, and not some fly-by-nighter that will leave you in worse shape than you're already in.  Chapter 13 consolidation is right-out if you have no income.

Answer 8

idk

Answer 9

you can start using the bus, and not drive, in other word cancel your insurance, and maybe find a some job off the road lol.

Answer 10

Sell your car and any other valuables you might have and pay off your debts.

It's not just about keeping your credit score.   It's also about cutting your living expenses.  When you don't have to pay any interest on your debts.  And when you don't have to pay for insurance and maintenance of your car.  Then you don't need that much income to survive.

Cutting your expenses is the prudent thing to do when you are unemployed.

Answer 11

Well, settling your debt in any way will help, not destroy, your credit.  Contact your creditors and work out a plan with each of them.

Answer 12

You can go for a debt consolidation program. There your debt counselor would negotiate with your creditors and would reduce your debts as more often they have relationship with the major creditors. And thereafter would provide you with an affordable debt repayment plan. Or if your credit score is good you can also go for a debt consolidation loan as the subsequent payments made are considered towards a new loan. Thus you can improve your score by paying off your debts.

Here is the source of a debt consolidation company named http://ezconsolidation.com for your reference.

Answer 13

Consumer credit counseling. They are a non profit organization that can help lower your monthly minimum payment and reduce interest. Also, you can contact your individual credit card companies. A lot of times they have a hardship dept that will work with you during hard times. I used to work for Capital One and they did it all the time. Good luck.

Answer 14

You can go for a credit counseling where your credit counselor would guide you how you can pay off your debts.

Here is the source of a credit counseling company named http://ezconsolidation.com for your reference.

Answer 15

take a part time job meanwhile...also either sell or rent out ur car