over my head

[Anonymous]

lately i have been in a slump our income has dropped and i was looking to open a loan account to pay off my debts. but  i have been denied. my credit score was in the mid700's and now it is the high 600's. i never missd a payment and always paid on time. I just dont know what to do. i feel i cant keep my head above.

[Anonymous]

If income has dropped:

Reduce spending and/or

Increase income.

Simple economics, not trying to be mean.

Try looking at your full household budget. Almost everyone spends on 'wants' that can be cut back on. Those morning coffees/lattes, cable/satellite TV, name brand food items, salon trips, vacation trips, too much house/car for income, etc.

Consider a 2nd/3rd job.

It can be done, might need some belt tightening though.

[llecs]

Ditto to gordon...also check what caused your scores to drop. If you didn't miss a payment, then you must be at a high utilization.

And I know the situation isn't fun. I'm in the same boat not with some slow receivable where I haven't been paid since Independence Day weekend. My savings is going away.