Debt Relief? Reputable sites or banks.poor credit?

Smiling Belle asked:


Hi there. Recently married. We both have less then stellar credit. We are in debt further then we’d like to be. Do not think we’d quailfy for loan, no collateral for one….what can we do? What banks, credit unions, websites..etc can we work with. We have a great income…better then most in our situation….but owe more then we make. We have cut back everything…even sold my car…..what can we do? (No there are no friends or relatives to help) Serious answers appreciated.

Monica

Tags: Credit Unions, Poor Credit, Relatives

This entry was posted on Saturday, December 27th, 2008 at 7:52 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Debt Relief? Reputable sites or banks.poor credit?”

1. bamboo_sista Says:
   December 29th, 2008 at 10:20 pm

   Before you think about doing any debt programs, my advice is to you is to get copies of all three credit reports, transunion, equifax, and experian; and dispute everything on your report. Those companies have 30 days to respond to the dispute and if they don’t the credit bureaus will remove them off of your credit. Whatevers left, set up some settlement arrangements to pay those debtors off.

2. Matt Mitch Says:
   January 1st, 2009 at 8:12 am

   This website will provide some direction for you.

3. Kevin M Says:
   January 1st, 2009 at 3:29 pm

   First, disregard bamboo sister. Her advice is dishonest. Not only that, but I believe you are probably breaking a law by claiming those are not your debts when they really are.

   Second, you need some credit counseling. Go get a referral from the National Foundation for Credit Counseling.

   I dislike the idea of taking out another loan to consolidate. It winds up being just another loan to pay off.

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