Ask Terry Questions Buried in Debt

Buried in Debt

By Terry Savage on August 14, 2018 | Credit/Debt

I’m in the hole for $55000 and can’t climb out of the can I pay it off or should I file for bankruptcy I’m not a home owner I rent the 55000 dollars is a combination of credit cards and personal loans what should I do.

Terry Says

You might have to file for bankruptcy — but that will impact your life in many ways — from getting a job, to life insurance or auto insurance costs. So before you jump to that conclusion, immediately call the National Foundation for Credit Counseling at 800-388-2227. That will put you in touch with your nearest local office. You can trust them.

They will go over all your finances and discuss the possibilities. They may be able to contact your creditors and get some of the interest removed, and start a payment plan with them. But don’t answer those midnight ads on TV offering “the easy way out.” NFCC counselors will help you deal with this mess.



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