Debt

By Terry Savage on January 27, 2025 | Credit/Debt

My daughter has about $100,000 equity in her home but has a low credit score of 540. Considerable credit card debt. She is current but low credit score is due to late payments. Is there a way to access equity in her home without selling her home? She is divorced and has 3 children, ages 20, 18 & 17. One in college, one waiting until his scheduled surgeries are completed (born with severe bilateral cleft lip palate gum and esophagus) and will be enlisting un USMC and one graduating from high school in May.

Terry Says

She needs to contact the National Foundation for Credit Counseling at 800-388-2227. She can trust this non-profit organization to go over her entire situation.
A lot depends on how much debt, how much income — and whether she intends to continue supporting her children. And whether their father can be sued for back child support.
These trained counselors can help her put this all in perspective.

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