Australian Credit Cards and Loans

Christina H asked:


after a major financial upset me and my husband plummeted head first into the deep dark hole of debt. We now make 30k a year. We had a 4k credit card balance that we took care of through a settlement using our entire tax refund. All of our accounts are now in collections including 8k we owe to Honda after our car was repoed and auctioned for 2k (our loan balance was 10k) Total debt is around 11k. Problem is we have no money to pay back any of these debts. We live paycheck to paycheck. Most of the debt relief programs I’ve come across give you tips on how to cut your spending to make room for credit card payments. We have no room to cut any spending. We don’t buy anything unnecessary. We don’t eat out, go to the movies, buy clothes, etc. All of our income is spent on bills, gas, food, the bare minimum. I am going to school in the evenings now so working more really isn’t an option. I really don’t want to file bankruptcy but its starting to seem like the only choice. Any suggestions.
I will be finished with school (if I stick it out) in 8 months. Im in a sonography program and my expected income when I’m done should be around 65k. My husband is in school as well and will be done in about a year. At the end he will be making about 50k a year. The way I was thinking is if I wait until I finish school to pay it back it would be so much easier and wouldnt take that long. If I quit school and get another dead end job I will probally spend the next few years trying to pay it back. Should I just let the phone ring off the hook for the next 8 months and pay it back when I get done with school. I could pay $5 a month. Or should I quit school and get a second job even if in the end it takes me longer to pay it back?
I cant quit school for a few reasons. Most importantly I have student loans. Not much but if I drop out I will go into repayment. If I stay in school I won’t go into repayment until 6 months after graduation.

so quit now, get a job, go into repayment (which will eat up a big chunk of my extra income)
vs.
finish school. Live at our current stardards for the first 6 months of working in my feild and use the extra income to pay back my debt until I go into repayment.

I guess I have come to the realization that as eager as I am to get this taken care of there just isn’t a logical way to accomplish it right now. I will be calling my creditor tommorow and telling them just that. Im already in collections how much worse can it get. They will just have to wait.

I’m young, I’ll bounce back and hopefully learn from my mistakes.

Diane

jen2001 asked:


We’re at a point of bailing out and starting over because of our financial situation, but not sure if it will cause more stress down the road. We started a trucking business 2 yrs ago that went under and left us with $100k in personal credit card debt. Our mortgage is $2900 and going up to $3500 in 2 yrs.. We owe more than the house is worth so are thinking of doing a short sale or deed in lieu of forclosure and rent a cheaper place until the CC debt is paid off. I have thought of doing a debt relief program, but not decided because of the bad things I read about it. My credit is still high because I pay everything on time, but not able to pay much more than the minimum so not getting anywhere. I feel like I’m throwing money away on this house and would like to get out of it and have some breathing room to start over. Has anyone actually done this and how has it effected you? Do you think it is worth ruining great credit to be able to have a life again?
Thanks for any advice

Deborah

bill h asked:


Every country crys for us to come help them when desaster hits. Every person seems to think it is a human right to come to this nation, illegally.
Illegals protest that they have to pay more to be illegally in US schools!!!!!

WE ARE NOT THE WORLDS PIGGY BANK.

SHame on us for allowing ourselves to be used by the world for aid, defense, education, disater relief, debt relief.

What do you say?

Jesus

htshoward45 asked:


Their name is Progressive Debt Relief, LLC out of Florida. I submitted a question to them, and I was responded to. Does anyone have any info on them as to their legitimacy? Thanks.

Constance

J. asked:


Never taken out a loan, and have had one credit card for the last three years, so I am a complete novice when it comes to all these bank terms. For what it’s worth, I bank with USBank.

Anyways, I need a new computer, for which I don’t have the funds. I looked around on the USBank website, and found two options that looked interesting: Personal Loan, and Premier Line if Credit.

About the loan: How does that work? Does the money go into one of my accounts (I have checking, savings, and a Visa with them)? Or is it managed like an account of it’s own?

About the credit line: Is it really hard to get approved? Should I just apply for another credit card?

I know I should just go to my bank and ask, but I would like to get to know more first, and see if anyone has any experiences they can share. Thank you!

Irene

ruthy A asked:


We have credit card bills, & medical bills are huge it’s driving us crazy. Every month is a hassle to make a payment because we have to decide which bill is going to get paid. We can’t pay them all at once by the due dates; we don’t get paid enough!! I’ve been thinking of taking out a Personal Loan but I’m scared it wouldn’t be a smart move. Any Advice?

Juan

soxrcat asked:


A woman on a “credit card relief” commercial on the radio said “I contemplated bankruptcy and divorce …”

What does divorce have to do with credit card debt?

Edgar

esf0242 asked:


i am getting killed w/ interest since i can’t pay the entire thing off immediately, and consolidation only seems to work for credit cards. Is bankruptcy an option?

Betty

woodworker2090 asked:


I have a bunch of small loans ( auto, credit cards, etc) and it’s really annoying keeping track of. Would it be a good idea to apply for a perosnal loan, payoff all my little loans and just have one bill a month instead of 5 that are due at all different times?

Arthur

Anonymous asked:


I know this only applies to debt incurred before joining, but we have a high interest car loan and a few credit cards. We could save a lot if our interest rates were knocked down to 6% (this is the number I keep seeing while researching). My question is how do I go about putting this into effect with his/our debts? Do I need paperwork from the finance office? Or just contact the offices individually with a copy of his contract or something? Any help appreciated. Thanks!
I was not aware that he had to have a deployment. Is this true?

Kim