Credit Card Debt/HELP
My sister has debt and it is bad. She has claimed bankruptcy b4. I know that she is dumb and everyone will want to share an opinion on what she has done but I am really trying to help her out here. I think she should just claim bankruptcy again but not sure. Ayone have any ideas? I think it is around 30K.
Thanks
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bumpsky
There are limits to how fast you can return to BK after filing before.
The debt might be able to be restructured without BK.
BK might wipe out the debt but it comes with a negative impact to her credit so will impair her future. Obviously she also needs some training into how best to manage credit so a credit councilor organization might be the first step. They know how a BK works.
John
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She claimed BK more then 7 yrs before. Her Credit is not good now and to tell you the trust I don't think she can pull herself out to be honest. Do you have any referrals or companies that I can have her look into. At one pt I was with a company but the screwed me and there are alot of shady companies out there
Thanks
BUMP
Being in the repair business, I know first hand that most of these so called "non-profit credit counseling" or "debt consolidation" companies do not end up helping people. I have many people come to me that have had bad experiences with such companies. While our repair services wouldn't help your sister get out of debt, I would recommend that she takes the following advice. Put all of her debts down on paper. Then find out the interest rates of all of the debts. Now pay the minimum payment on all of the debts except the one that has the highest interest rate. Pay as much as possible each month to this account. After that one is paid off, move on to the next highest rate, and so on. Eventually, she will end up debt free if she sticks with this www.program.It is the fastest way out without using any of the above type of companies (which I cannot recommend any to you). Best of luck.
Sincerely,
Mario Costanz
A good freind of mine had success with consumer credit counselors. they are a non profit org that helped him. I have heard about the shady companies too, but he swears by this one.. Just my 2 cents
You do need to find out your median score, you could work with a mortgage broker or even a bank to determine this. How is your employment history? That will help determine if you will get a loan.
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