bad debts

Philippines
March 2, 2012 11:32am CST
help, myloters im drowning in bad debts (credit cards), i dont have an income to pay it off as much as i wanted to pay what i owed. i tried investing my last money in the business but my investment did not survive. i need a miracle. will you be my miracle? any idea? suggestions? please please please.
2 responses
@peavey (16627)
• United States
2 Mar 12
Do you have an income at all? Can you pay the minimum required payments? Do you owe on other things? It's hard to give advice if we don't know what your situation is, but assuming that you have an income but you haven't been able to make the minimum payments, then you have two choices: Cut back on spending on other things so you'll have enough money to pay the credit cards, or find ways to make more money to pay them. That's pretty much all there is to it. No miracles here, just hard work!
• Philippines
6 Mar 12
thank you peavey as of now I don't have an income. I am totally dependent on my husband's money which is budgeted for our daily expenses, no budget for my debts payment. that budget also is not enough for us because all 4 of my children have allergy. right now my first child s very sick and my third child s beginning to have allergy as well. I can say that what I experience right now is because of my trust to people who are not deserving. bec of my naivete my family has suffered greatly. thank you for giving time to read my message.
@cher913 (25891)
• Canada
2 Mar 12
have you talked to your creditors? tell them you cannot pay and ask them for the hardhsip rate. you could tell them it is either this or go bankrupt. you would be surprised how much they will try and help you then. they dont want you to go bankrupt because then they dont get much money.