Does anyone know of a great credit counseling or debt management organization. I hear ads on the radio all the time but I am unsure which would be a good one to contact. We moved here from California in 2006 so that my husband could attend seminary. I took a huge paycut and he is a full-time student. He also works full-time but he works for the seminary so, you know how that can be. We spent close to $6,000 for the move and then once we got here, we had to move again. We had suggestions for apartments from the seminary and we researched them on-line but once we got here, the apartment was horrible. We moved and love our apartment now. Bills have just been piling up. We also have medical bills--our daughter was just 7 months old when we moved and began to have terrible ear infections. She finally had tubes put in both of her ears. I then had to have minor surgery and have developed health issues since we have been here in Dallas. I work for a church and love my job but the pay is less than what I was use to back home. We had to use our credit cards to live off of for the first year and we are on a very strict budget but there is still not enough to pay on everything each month. It feels like we are slowly drowning and need help. Anything you can let me know would be much appreciated.
I have sent a number of family and friends to an attorney that specializes in bankruptcy and consumer law. Her name is Nancy Ridgway. I don't have her nubmer handy but you can find her in the yellow pages or through the State Bar of Texas website. Her office is on LBJ Frwy at Abrams. You should go meet with her.
Hi D.!
God will work all of this out! He is with you and will be faithful to bring you through. And what a testimony it will be when you're on the other side!! He will not leave you or forsake you. =)
Have you heard of Crown Financial?? They have trained budget counselors that will meet with you to help you get things on track. The testimonies are awesome of how much debt people have gotten out of! Irving Bible has a big program and you don't have to be a member of their church to participate (b/c we're not!). My husband and I loved it b/c it was biblically based and really broke things down to the nitty-gritty. I could put you in touch w/ the fellow that met with us if you like. He is really nice and was happy to help us!
Dave Ramsey also has a program called Financial Peace Univeristy that Irving Bible offers as well. More info here: http://www.irvingbible.org/index.php?id=1115
Take care and I hope this helps!
S.
D.,
Don't feel like you need to explain the situation you are in... this is going around all over the place! And how could it not with a gallon of milk costing $4.00?!
My husband and I moved to TX about 10 years ago and we were pretty much in the same financial situation. We contacted an ad that said they would help us with our monthly payments. It was a bankruptcy attorney. At first, I though there was NO WAY we were going to declare bankruptcy... then I thought about it. We ended up doing it with our eyes closed and jumping in.
It ended up being the best thing we (financially) had ever done. People always say that your credit is horrible for 7 years after filing. It is not. At least this is what happened DURING THE PROCESS of our bankruptcy getting over. (It still was not completley over!)
We bought a house. We were told by somebody that because of our bankruptcy, our interest rate would be 13 - 19%. They were wrong though. When the rates for "good" people's credit was at 5.5%, we got a FHA loan for 6.25%. I just tell you this so you can see that filing for bankruptcy is NOT the end of the world. Since then, we have even qualified for a much larger home, and bought a car.
You also have the other option. Look up "CCCS". It is Consumer Credit Counseling Services. They do charge a fee - but so does an attorney for bankruptcy. These fees are normally built into your monthly payments (which are manageable!).
If you want to email me, I will tell you more. I am an open book - I will tell you anything!
Bottom line: don't worry. You are NOT alone with this! Things WILL get better. I promise.
I agree with the other post on bankruptcy it's not the end of the world and you will actually come out ahead, but you can also negoiate with your creditor if you are up to it. consumer consolidation is okay but if you are going to go that way you might as well go on do bankruptcy I say that for this reason one it is still reported to the credit bureau as being under a debt mgmt program, they have to be under contract with the credit company to get your interest reduced they may or may have penalties remove and it will not be removed after your 5 years is up.
Bankruptcy they will reduce interest rates, items are paid based on priority and/or secured collateral, anything extra will be determined based on your income and expenses, after 5 years regardless of if it is paid or not as long as it is listed it will be removed.
