Me and my husband have been married for 8 years. We have 1 son, and I am pregnant with twin girls that are due in late november.
We completed a partial DITY move (for those of you who are civilian DITY=Do It Yourself). We’re expecting about $4500.00 back after taxes. I want to use all of the DITY move money, to pay off some bills that we have. Paying them off will free up about $400.00 a month. My husband just wants to pay only part of them off, and save the rest for a down payment for a new car for me and our kids.
Our 1 months advance pay is going to be paid off in September, and that will free up $189.00 a month. The loan with the Navy Marine Corp Relief Society, will be paid off in March, and that will free up another $110.00 a month. My husbands credit card with Capital One will be paid off next February, with our tax return. The rest of our tax return is going to help pay off his Military Star Card.
I have to admit we’re careless, and put ourselves into a lot of debt. We’ve been slowly been digging ourselves out. My husband is deploying to Bahrain next March. He will be receiving per diem, while he’s deployed. He lives very frugally while on deployment. We have agreed that with the excess per diem money, I want him to apply that to our consolidation loan, and his military star card. We can be 100% debt free by the beginning of next summer.
I am doing medical billing and coding from home. I completed my first month, and I made $1200.00 (after taxes). 80% of it is going toward the new car. The rest we’re using for our monthly household expenses.
So what should we do with the DITY move money? Should we immediately pay off some bills (my idea) or should we only pay off part of them, and save the rest for a down payment for a new car?
P.S. I did forget to mention that we do have a small amount of money in a separate account for “just in case” money. There is about $1100 in there right now.
Debt consolidation. What is debt consolidation? We hear about it all the time and every day, but few of us actually know what it is. Debt consolidation is when all of your debts are rolled together. For example, if you owed $30,000 on your house payment, $20,000 to Best Buy and another $10,000 to the bank, you would consolidate those two so that you know owe the $60,000 to one place.
However, with debt consolidation often comes debt reduction, and you can often reduce the debt you owe to a lesser amount, something that is bound to help you breathe a sigh of relief.
Debt consolidation is a breath of fresh air for many individuals in need of something, anything for them to keep above water. The process of debt consolidation will no doubt help with this. Individuals who go through the debt consolidation process know how much debt consolidation helps.
No longer do you have to go to thousands of different places to collect your debt. Now you can just go to one place and no longer have to keep track of all those odds and ends bills. This will help you not be late on payments because you can’t remember where you were supposed to pay $20 and where you are supposed to pay $100.
Debt consolidation is an amazing way to consolidate, and hopefully reduce, debt. If you’re struggling and can barely keep your head above water, then check out debt consolidation. It simply is the best way to go. bad credit debt consolidation personal loans de:
If you have problems with credit card debt, chances are you’re dealing with a lot of sleepless nights and that you dread the sound of the phone ringing.
When you’re coping with debt, it is tempting to bury your head in the sand and hope it all will go away. First, here’s the bad news. Your credit card debt problem is not going to go away on its own, no matter how much you hope it will. Now, here is the time for the good news. There people out there who can help. When you are buried under debt, a debt consolidation company can help you dig your way out.
“…Chances are that you have seen the advertisements for debt consolidation companies, but many people don’t really understand what they do. In a nutshell, they work with your creditors to negotiate your debts down as low as they possibly can, so the overall cost of your debt is decreased. Then, they pay off your creditors on your behalf for the reduced amount. The money that is paid to your credit card companies and other creditors is actually what is known as a debt consolidation loan…”
These debt consolidation credit card loans are the only debt you have after your other creditors are paid off, so you only have to make one single monthly payment. The interest rate on a debt consolidation loan is usually lower than the sky high interest on your credit card, so you end up saving money on your overall debt twice.
“…To get a debt consolidation loan, you usually have to be a homeowner, but there are companies out there that can work with you if you don’t have any property to secure your loan. See how a debt consolidation loan get help you cope with your credit card debt problems…” H. Milla added.
Here’s how it works. Let’s imagine that your home mortgage is for $250,000, but after years of paying on that note, you only owe the mortgage company $100,000. In this instance, you would have $150,000 in equity in your home. A home equity loan is a specific type of loan that will allow you to borrow against that equity.
Why would you want to do this? The number one reason that people take out bad credit debt consolidation home equity loans is as a means to consolidate their debt. Because a home equity loan is a secured loan, the interest rates are considerably lower than that of credit credits or personal loans. And so if a person had $10,000 in credit card debt, they could reduce the total amount of owed-as well as their monthly payments-by taking out a home equity loan and using the cash to pay off their credit card debt.
Bad credit debt consolidation home equity loans. Are you looking to consolidate credit card or other debt? Do you have bad credit history? There are many options available online nowadays to help you consolidate your debt. Whether you are wanting to consolidate credit card debt or other kinds of debt, it can be overwhelming searching online to find the best ones for your situation. Here is a short overview of what kind of debt services are available online.
If you are looking for a bad credit debt consolidation home equity loans to consolidate your debt, you will need to qualify for the loan, just like any other loan. If you have a home, you may be able to get an equity loan using your equity or even go over the appraised value of your home in order to get the financing you need.
You may be able to qualify for an unsecured loan, which can consolidate your debt with one low monthly payment with no ties to any of your assets.
There are other companies that will help you manage your debt without having to use another loan. These companies usually charge you a fee and then help negotiate lower interest rates with your creditors and manage your monthly payments. There are various ways to do this and every company is different. Usually these techniques will save you money to start paying down the principle on your credit balances.
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My husband is in financial dire straits, We are living in hawaii and cost of living is expensive here. Would consulting a debt relief company and them helping out affect his credit score? Does anyone know of one that is helpful and understanding? If anyone is wondering how we got in this situation, He got divorced and the ex wife is getting alimony, house, car, on top of that Recent taxes has shown we owe money to govt. plus our cost of living. I am already working and helping out but not enough. Dont know how else to approach this. I know if you ask for a consolidation at bank this will affect your credit score. Thanks for any good advice.
hi had great credit at one time i need a personal loan do not have good credit have the ability to repay but not the credit to borrow is there anyone out there who lends money based on your ability to repay need a debt consolidation loan looking to borrow about 20,000.00 dollars thanks
I am getting a home equity line of credit and I am going to pay off all my cc debt with it. I want to then cancel all my cc’s except one. I know this will ding my credit for a while but I think in the long run getting rid of maybe 20 cc’s is better than having 20 cc’s. Any opinions would be appreciated.
