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I have a lot of debt from a separation I went through two years ago, including unauthorized accounts opened in my name by my spouse, which I am trying to pay off but it is just too much. The major things are two vehicle repossessions that are hanging heavy on me. It has been about a year and a half since those went back and I am trying to lower payments by getting rid of things like going to a cheaper car now. But I am afraid the debt to income ratio and credit history are getting in the way. Any advice on the situation would help. Thanks!

Welcome to the forums. I am sorry to hear about your situation but please know that you are not alone. Maybe if you tell us alittle bit more about your debts - what type are they, are they current, collections, pdl's etc... Also, if you have any pdl's what state do you live in. This way we might beable to give you some better advice.

Overall, getting your money in order will take some time and discipline. Going to a cheaper car is a start. Getting on a budget is another good way. Know where all your money goes and assign it a job. As far as your credit history, that comes back fast once you start getting things in order. I know most of us want to drive a nice new car but you should get only what you can afford. Do you have a car now you could sell and then pay cash for a new one??

Just a few suggestions. Keep us posted. This will get better.

Sub: #1 posted on Sun, 07/13/2008 - 18:11

spatterson_40 spatterson_40

(Posts: 400 | Credits: 55.28)

I am sorry to hear about your hardship. It really sounds like you would be a very good candidate for debt settlement. A good settlement company can settle both of the repossessions and all of the cards. They should be able to get you one payment about half of what you were paying and have you out of debt in about 24-36 months. There are a lot of crooked settlement companies out there so be sure to look up any company up on the BBB to make sure they have a good track record. Also make sure they are either members of TASC or USOBA.

Sub: #2 posted on Sun, 07/13/2008 - 20:37

mobile0311 mobile0311
(Posts: 1817 | Credits: 104.57)

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