Hi..my name is Richard and I'm in debt, big time. I have set up this blog in the hope that it may be useful for others out there to share their problems, get and give advice etc. As this blog was only set up today I'm not going to put a lot on it, just to say that I personallay have nine creditors, most of whomhave accepted my offer to pay back a reduced amount of what I owe them each month, except Northern Rock who are threatening to drag me through the County Court so i guess I wouldn't recommend that particular plc to anyone looking to take out a loan and then expect a sympathetic response when you get into trouble. My best creditors so far have been Natwest, but who knows what will happen?
My first piece of advice to anyone reading this who is in debt is to tell someone, such as The National Debtline, who proved very helpful to me. Keeping it to yourself, as I did, only breeds bigger debts and bigger trouble.
I am stopping now. Hope somebody reads this. I hope to keep it updated daily, if I'm not in prison or homeless or the bailiffs take my computer!
2 comments:
Bankruptcy Blogs "Rebuilding your credit as soon as possible is critical when it comes to surviving bankruptcy. Why? Because rebuilding your credit history can increase your credit score. This in turn can mean the difference between qualifying or being declined for a loan. Second, if you increase your credit score enough it could help you get a lower interest rate - as a result, you could end up saving $100s or even $1,000s in extra interest."
hey Richard, sorry for the debt problem, thats life and it must go on. Getting positive is the key here.
The best debt solution that I know of and support is actually self discipline on how to use your money. If you hold credit card(s) then learn to control the use of those credit cards and do not just buy things because your mind tells you so. Plan for it. Do not try to overspend beyond your income; this will automatically lead to debts. At times debt consolidation loans are not always the solution. They may actually add to the amount of your debts. Consolidation loans may be good debt solutions for credit card users especially if you are experiencing high interest rates. At times debt management plans could work well for you or a debt counselor can do you wonders.
DEBT SOLUTIONS
One important thing you need to accept is that when you are in debt then you are spending more than your income. In the struggle to get you out of debt, then there is need to consider a debt solution that will fully get you out of debt and probably help you live with debt freedom. Going for debt consolidation, debt relief etc may not necessarily solve your debt problem. The debt solution actually lies with you. If you decide to go for a national debtline to sort you out on debt then it is probably because you have realized it is possible to discipline yourself and just with a phone call and a good follow-up you get off debt by yourself for now and for good. It is probably the best and cheapest way to get you out off debt.
Poly Muthumbi is a Web Administrator and Has Been Researching and Reporting on Debt for Years. For More Information on NATIONAL DEBTLINE, Visit Her Site at NATIONAL DEBTLINE
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