best option

April 16th, 2012 by Questions

I have 2 credit card, 1 that I owe nothing on, and the other one that is maxed at over $32,000.00. I have just recently being laid off, and no longer can make my monthly minimum payments. for the past 24 months, for the card I owe $ to I have made at least my minimum payment plus an extra $300 each time. My credit score is beside that average at over 660.

what option is there for me, to “hurt” me the least with credit score and able to keep my clean credit card for emergency etc..?

Posted from: Ontario


One Response to “best option”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The only way to protect your credit score entirely is by filing a consolidation loan. But this may be difficult to qualify for if you currently are in between jobs. You can also look at consumer proposal and other debt management options, but they will all have a detrimental impact on your credit rating and score and they won’t permit you to keep a credit card.

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