Debt Negotiation Advice
Consolidate...Bankruptcy...or Hand Power of Attorney to a business to Negotiate your Debt for You?
If you already have poor credit and you just want to get everything over with... which would be the fastest, cheapest, easiest way to go about it all? And what's the difference between secured debt and unsecured debt?
Public Comments
- Secured credit generally are for good credit peps, unsecured generally you have to put a down to get a credit card. Secured credit card generally has zero interest forever. Unsecured has high interest rates. You can consolidate your finances with a counselor, bankrupsy these days suck, alot of laws new. You can go chapter 13. Call a financial advisor, they do the best job. And you are treated with respect and privately. They know the best to do. GOOD LUCK
- Good question. Beware of perditory bankers.
- Fastest and easiest is not the best thing for you to do. Go to some professionals who don't want to take more of your money. There are organizations that will skin you alive, and there are good people who will do it for free, and actaully help you improve your credit. Secured credit means they have the right to confiscate property if you don't pay, for example a car, or your money in a bank account, a house. Unsecured means they don't have 'security', such as credit card debt. If you dont already know this, you need to get educated on finance more before you borrow any more money in any form. Start paying cash for everything, make a budget and get a second job, no matter how small. Even two days a week will get you out of a big hole eventually. Sell stuff on ebay, cut out the smokes, eat a sack lunch, etc. Look at everything you spend as "Do I really NEED this, or do I just WANT this?" and pretty soon you will be in good shape.
- Debt consolidation IS an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were. Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it. There's information and listings for debt consolidation providers on the page listed below. You'll find something of use there: http://axalda.info/debt-consolidation.html
