Mrs. Lisa

September 24th, 2013 by Questions

I have a question regarding my debt.. I am in collection for a few bills and I cant afford to pay them all off and the interest is unbelievable for example one called tonight and said I owe 3800 from 1800 and im getting stressed out.. I went bankrupt about 7 yrs ago and I don’t want to do that again.. I want to be able to get help and pay my bills but cant afford to pay them off.. I have a total of about 9000 that is in collection and the interest is crazy.. Someone mentioned that there is programs like debt consolidation.. I tried to get a loan to make deals with my creditors but I cant even get a loan to get these bills paid, because of my credit.. Can you tell me what I can do and what programs you have to offer like debt consolidation, or anything.. Thanks

Posted from: New Brunswick


One Response to “Mrs. Lisa”

, A licensed trustee said:

Two other options for you to consider might be credit counselling (in order to do a debt management program) or you might file a consumer proposal. If you have already been turned down by your bank don’t keep applying elsewhere – every time you apply and are turned down it affects your credit.

The question comes down to how much you can afford to pay towards your debts. Credit counselling will cost about $200 a month over 4 years. A consumer proposal might be $150 over 5 years.

Contact a trustee in your area and ask them about your options.

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