Managing your Debts
We have been in the position of the extreme anxiety of receiving phone call after phone call from collection companies to acquire debts. Bad credit and overdue bills usually stems from not managing your money or your good debts right; on the other hand, sometimes debt is out of your control. Sometimes crisis happens or unforeseen circumstances take place.
Common Sense assessment
Before you do anything, you should assess what your bills are as compared to your income and miscellaneous expenses. How much can you afford? Most people will see that they can make a simple, consolidated payment.
Refinance your home
The equity that you use to pay off your loan will be tax deductible, and this is by far the best solution if you have that option.
If you have life insurance, you can take out money from their to settle your debts.
Talk to a loan specialist
Once you see what you can afford, you can now talk to a loan specialist to acquire debt consolidation loans. They do make a profit from what they do, so do not budge on your budget. In fact, I would cut off a little for spending money. Also, ask about their monthly fee, and make sure that you call, at least five places.
Call your creditors
Some creditors will not work with you, but most of them will. It doesn't hurt to call and negotiate, even if they aren't willing to work with you; it's worth the try.
Sell your stuff
You would be surprised on how much money that you can make on yard sales, craigslist, or ebay--some people even make a career out of it. It may be worth to get rid of your valuable before creditors take them!