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my wife and I make 90000 a year combined we have 70,000 in credit card debt and her 180,000 in student loans?
July 25th, 2010 | 
Author: 
bkinning12 asked:
are due and we cant afford to pay them. What can we do?
Unsecured Debt Consolidation
are due and we cant afford to pay them. What can we do?
Unsecured Debt Consolidation
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Credit Debt Consolidation
drop your lifestyle to the bare minimum. no reason why you cannot live on 40k if done right. get a deferment for the student loan debt and pay aggressively on the credit card debt. I would also suggest you both get second jobs to pay off the credit card debt in 6 months. It will be hard but i have lived on rice and beans when i did it. Took dave ramsey’s advice to get out of debt. YOU CAN DO IT!
Consolidate School Loans
Try for a deferment…but if you are working that may not be an option. This is only a short-term solution even if you could get it. If the situation is unmanageable:
1) If you qualify to file for Chapter 7, you can get the credit card debt discharged but not the student loans. This could make it easier to pay off the student loan debt. Don’t let anyone guilt trip you if you have to file for Chapter 7…The American financial and banking sector is amoral and predatory….They ALWAYS do what’s in their best interest…you should do.
2) File for Chapter 13 BK…the form of BK where student loans can be included. This form of BK does not discharge debt…but it does give you much more favorable repayment terms and your creditors have to accept the payment plan that the court orders.
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Do whatever you can to prevent the student loans from defaulting. There is nothing worse than defaulted student loans…once they do you will find that the amount of debt will start to go way up once the student loan provider churns through all their fees…
Credit Card Loan Consolidation
If you make 90K combined, you can make $5 payments each month on each of your cards/loans. That way, it shows a willingness to pay and you won’t get sent to collections. You’ll continue to fall further into debt because the interest will keep each of your accounts going up each month, but it will keep you from ruining your credit until you can figure things out.
Student Consolidation Loans
I’m not being negative but if it takes for you to get where you are now (70,000 in credit card debt and her 180,000 in student loans) before you realize that there’s a problem, it doesn’t really matter what you do about your finances because finance isn’t really your problem, your problem is perception.
You’re one of them guys on the highway that sees that the lane they’re in is block some ways in the distance but instead of changing lanes to avoid being block in, you drive to the blockage and sit there waiting for a break in traffic to get out. Answer one is right and should be your course of action
School Loans Consolidation
You may be able to defer the student loans. The biggest problem with that is they continue to grow due to interest.
You can not discharge student loans in bankruptcy. So the only way to make those go away is to pay them.
Dave Ramsey is a financial adviser with a radio program and who is on Fox Business.
I highly recommend you read his books: The Total Money Makeover and Financial Peace Revisited. He outlines a step by step plan to pay off your debts. You and your wife have a good income. These debts can be paid. But it’s going to take a lot of hard work and focus. But you need a written budget and a plan to do it.
At the very least, listen to Dave’s radio program for 1-2 weeks. On Fridays people call in because they are debt free. It will really inspire you to hear others who have been in your situation and have worked hard and gotten all their debt paid off.
Best yet – listening to Dave’s program is free.
You can find out what radio stations carry Dave’s program on his web site.
Credit Card Debt Consolidation Loans
I’m curious…what type of degree does she have for $180,000? I would think whatever it is that she would be making more than she does…
Can she seek a better paying job?
Consolidate School Loan
Hello, My name is Anthony. I work for a great company that can help you elimnate your debt. The truth is 70K is alot of credit card debt! I can save you alot of money. If you are interested, and looking to save money. Please send me an email.On average we settle for .45 cents on the dollar. So that alone will save you alot of money. Or feel free to give me a call anytime and we can talk! Thank you so much, and I look forward to getting you completely debt free.
Consolidating School Loans
If you still have student loans that means you are young and ready to hit the business world. Work hard and live with very little while you pay your debt off. Contact the creditors and work something out. Do this yourselves rather than having one these consumer credit companies or all these other people here that are offering their services do it. All the people offering their services are looking to make money off you. They are all bottom feeders. I **** to say it but the best way is the hard way. you know what that is. Now go get er done!!
Bad Consolidate Credit Debt
hello.seem like a lot of bad credit.but no need to worry i was in this same situation 5months ago.my bank couldnt offer me loan becase of my bad credit.i got help from a loan company that had offerd assistance to people with bad credit,am sure they can help you.contact them at luck