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Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?

Hmmmm do you have a rough idea of how much the total debt is?
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?

not really considering a BK, just trying to clean up my mistakes. In my mind and this instance IMHO a BK is cheating, I did it, now I gotta fix it. I can live with my scores this low. I pay cash for everything anyway. But am trying to do the grown up responsible thing. And take care of my mistakes, even if it hurts.
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?

[ Edited ]

Boswd wrote:
Hmmmm do you have a rough idea of how much the total debt is?

Not including the child support probably only about 6k. That is another reason BK is not an option, it is just not that much money. But it is more than I have access to.

Message Edited by jaguls66 on 06-27-2007 12:12 PM
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?

take it one collection at a time.   do some lifestyle changes.   Buy groceries with coupons, buy store brand items,    If you have a cable modem downgrade to dial up,   if you cable TV down grade to the basic or just get rid of it all together,  get rid of a phone if you have both cell and landline  many ways to save a buck
 
Good luck to you and just remember take it one collection at a time.  I would start with the smallest one first and work your way up using the snowball method.   All I would be doing my reputation an injustice if I didn't recommend  Dave Ramsey's Total Money Makeover.
 
Good luck.
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?



Boswd wrote:
take it one collection at a time.   do some lifestyle changes.   Buy groceries with coupons, buy store brand items,    If you have a cable modem downgrade to dial up,   if you cable TV down grade to the basic or just get rid of it all together,  get rid of a phone if you have both cell and landline  many ways to save a buck
 
Good luck to you and just remember take it one collection at a time.  I would start with the smallest one first and work your way up using the snowball method.   All I would be doing my reputation an injustice if I didn't recommend  Dave Ramsey's Total Money Makeover.
 
Good luck.



Always buy groceris with coupons, or B1G1 free. DISH is part of the rent in my efficincy apt. as well as util., only have a cell for 5yrs or so. Cut every corner imaginable and am slowly getting it under control.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Confession Good for the Soul?

Are the revolving accounts good or bad?
 
Are the collections and chargeoffs paid or unpaid?
 
What state are you in (that way I can tell you what the SOL is)?
 
Have you pulled all 3 CRs, not just your FICO scores?
 
Anything that's current, keep it current. If you have to make a Hobson's Choice, pay a collection or pay to keep a current account current, keep the current account current.
 
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?



Noah_Bodie wrote:
Are the revolving accounts good or bad?
 
Are the collections and chargeoffs paid or unpaid?
 
What state are you in (that way I can tell you what the SOL is)?
 
Have you pulled all 3 CRs, not just your FICO scores?
 
Anything that's current, keep it current. If you have to make a Hobson's Choice, pay a collection or pay to keep a current account current, keep the current account current.
 



All of them are bad, not paid off. except the Child Support. I am in AL and the SOL is 3yrs i believe. Only have 1 that I may be able to rescue on revolving before collecions gets it, I am trying to work something out with them now. I have opened 1 secured 300 CC, and another before long. Maybe next month.
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?



jaguls66 wrote:

Boswd wrote:
Hmmmm do you have a rough idea of how much the total debt is?

Not including the child support probably only about 6k. That is another reason BK is not an option, it is just not that much money. But it is more than I have access to.

Message Edited by jaguls66 on 06-27-2007 12:12 PM

Oh Ok that's not earth shattering, you can definitly do it.   And time does heal all wounds.
Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Confession Good for the Soul?



Boswd wrote:


jaguls66 wrote:

Boswd wrote:
Hmmmm do you have a rough idea of how much the total debt is?

Not including the child support probably only about 6k. That is another reason BK is not an option, it is just not that much money. But it is more than I have access to.

Message Edited by jaguls66 on 06-27-2007 12:12 PM

Oh Ok that's not earth shattering, you can definitly do it.   And time does heal all wounds.



If you don't bleed to death from them first.
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Confession Good for the Soul?

are you familiar with the snowball effect on paying down debt?  IMHO  it is fantastic and it works

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