i have too many debts, how can i get rid of them. what is the best investment i can mahe to get my own home?
107357
The best way to get yourself out of a hole is to stop digging.\n\nDon't take on any new debts under any circumstances whatsoever. If you are able to consolidate your debts into a lower interest rate loan, it would be a good idea. Cut up your credit cards.\n\nIt is bad form to default on your debts - you took them on, you should pay them off. It will hurt, but it *should* hurt. It is the best way to ensure that you never go into debt again.\n\nYou can live on far less money than you think. Be creative. Take every last cent that you can to pay down your debt starting with the highest interest rates. If you want to treat yourself while you are doing this, try some treats that don't cost anything - sign out some DVD's from the library and be a couch potato for the entire weekend if you would like it.\n\nThe *single* best investment that you can make is to pay off your debts. Your credit card debt is racking up at almost 30% before taxes. You would have to get a rate of return on an investment that is about 50% per year to get the same return.\n\nSorry, no pain, no gain.\n\np.s. Been there, done that, will never be there again. I honestly wish you the best of luck.
986423
First get your act together. Talk to the people you owe oney to and ask for some grace. Is unemployment an option till you can get a job. Do you have freinds and family that can watch your kids till you get on your feet. \n\nIs there someone you can stay eith till your able to move out on your own?\nYou can do it!
962158
You may want to consider a combination of refinance to payoff the debts and a room mate to cushion the load.\n\nHere is some additional info. Hope this helps.
1126682
hope you would solve your problem  soon,,you are not alone..\n\nHave to work double time and plan your budget...    pay all the small bills first, limit your habit , check your budget before spending.. the more debt you have the  more you pay for interests... you can make it..   slowly but surely... .goodluck !\n\nif you can't, ask someone to help you that is good in budgeting like close friends... or families...
1100672
Pay off all debts first. Hold a savings acct to use for emergency needs, vehicle purchases, home repairs, vacations, etc.\n\nReplenish this as it is used.\n\nAfter that, Extra money could then be applied to these DRIP accounts\n\nPaying a credit card off that charges 19% interest is a guaranteed return of 19%. no stocks can do this on a guaranteed basis.\n\nsame with eliminating Auto-loan payments.
1050091
Yes, find someone who will hire you.  Get a job and pay your debts.
749025
What kind of bills?  Don't take out a loan to pay bills like utilities, phones, cell phones, etc.   You should be able to pay these with your normal income. \nTalk to your lenders if you have excessive montly notes and see if they will reduce your payments for you.  You can also go see a free debt reduction counseler to help with this. They may even contact the lenders for you to help. \nWrite out a budget with your income and stick to it for a while until you get things under control.
324464
concentrate on paying off your highest interst loan first, like a credit card that can be 18% or more.  then pay off the 2nd highest debt, etc.  you have to make more than just minimum payments to make any headway at all.
466779
If you are a home owner, you can get a "Home Equity" line of credit through your financial insitute against the equity you have in your home. Maybe they can incorporate your mtg payment and the other into one! Or You can also apply for a credit card that will let you transfer debt and get cash money. Pay off everything and have your one payment!!
237710
I have 5 years experience in mortgage and Real Estate.. you can do whatever you want with your property, remember the longer you hold on to it, the more it appreciates.  When it comes to paying off debt, you need to consider a few things: \n\n1) if you consolidate your debt, you may be able to deduct it on your taxes (consult a tax accountant beforehand).\n\n2) or you can just refinance, get a better rate, and use your savings to pay off your exsisting debt.  Especially with the interest only loans available, they can reduce your mortgage payment considerably.  (you need to consult with a TX licensed mortgage broker for those options). \n\nThe last option is nice because it doesn't eat away at any of your equity.\n\nHope this helps..
572931
There are debt consolidation companies that will help you out. Also, you can apply for a debt consolidation loan from your own bank.
484349
If your husband has a steady job and your previous credit is fairly good, then you might want to try one of the credit companies like Capitol One for instance or HBC.  The interest rates are huge but they can usually find a way to put all the different debts together and spread it out over 25 more years to keep the payments low.  This was an option I took a a number of years ago during a renovation that went bad. Hopefully you can sell the house when completed if the amount you sell the house for is more than the debt and start fresh, getting rid of the high interest debt. It sucks to sell what you have worked so hard for but it is just a house.  The credit companies will sometimes let you pay the total debt without penalty if you sell the home and then you haven't paid much high interest anyways.  I understand the devastation and hopelessness of being in what seems to feel like an out of control situation.  You have to believe that life can get better just as quick as it went wrong.  If your only option is bankruptcy, so be it,  do what you have to do to make a stable home for your kids.  Just take control of the situation, get a few opinions and start sleeping again.  Banks run like sissies when you need help yet they are the first in line to bankrupt you in the first place.  There are reputable companies around to help people like yourselves in this tight spot.
153132
Sell and move back in with your parents.\n\nSeriously, the equity you've earned is not cash that's available to you anymore - it's debt that you've paid back.  It's not your money anymore.  You took out a loan to get a house to live in, and now you're paying back the loan.\n\nThe only way to get the money back that you've paid is to sell.  But then you'll just have to buy another house or move back in with your parents or something.  :)\n\nOr you could sell your apartments.
893468
Other than my mortgage I have no debts. Always pay my credit card bill in full every month.\n\nIf you're having debt problems, stopping using your credit card is a good idea.\n\nYou can get lots of good advise on this forum:\nhttp://forum.moneysupermarket.com
569737
1. Have a checking account.\n2. Apply for small credit line for something you need furniture, Department store credit card and gas cards are a good place to start.\n3. Pay them off on time do not Carry a large debt. \n4. Maintain a small debt to income ratio. That means your income should be many times greater than your debt. \n5. Constantly, stay informed about personal financial matters.\n6. Do build savings and build a large net worth.\n7. Take a few classes on personal finance.\n8. Make certain that your housing cost rent or mortgage payment plus utilities is never greater than 30% of your income. In fact aim for 25%.
58616
How do you get out of DEBT?\n\nFirst - Contact your creditors.  Explain your situation, and see if they'll lower the interest rate on your cards.  \n\nSecond - ALWAYS pay more than the minimum amount due.  If you don't, it's very possible that you'll -never- get out of debt.\n\nThird - If you can possibly live without using your credit cards, do it.  If you can't live without them, try to limit your usage to an amount you -know- you can pay off (INCLUDING those more-than-minimum payments) at the end of the month.
311274
U won the lotery?? Good for you! Go around the wourld buy a big house and a nice car, invest about 500,000 that way if the investment doesn't pay off you'll still have some money, don't spend TOO much on the house though, remeber there will still be water electric gas and security bills, not to mention the dreaded council tax! Give a million to charity, but don't go too wild with your money or before you know it it'll be gone and you will still need to pay out on your other bills! Good luck on your spending! Enjoy yourself! But don't go too mad!