Archive for 'debt'
Hope for tomorrow
Posted on March 5, 2009, by admin, under Uncategorized, debt.
Because of the global financial crisis, I became part of the statistic of people who lost their jobs because of the downsizing. Although our company gave a decent separation package, I knew that the money wouldn’t last long. Specially since I still had a lot of monthly payments. Seeing that I was already seriously bummed out by my financial problems, my neighbor told me to pick up the phone and get in touch with DebtCo at 888-335-0343. And that was the start of my road to recovery.
Once I got in touch with DebtCo, I started to immediately feel relief almost immediately. I knew that they were a group who knew what they were talking about. Before I started talking to them, I had never heard about bill consolidation in my life. But it seemed like it was the answer to my problems. It gave me a chance to slowly pay of my debts without having to negatively affect my credit rating. My credit rating is important to me since I know that this is only a temporary situation and that once I get once I get a decent job again, I will be needing my credit rating. Probably the hardest thing that they asked me to do was sign up for Voluntary Auto Repossession. I am very much used to getting around in a car so that was going o be a major adjustment for me. But overall, I think their strategy of Eliminate the Debt Snowball seems very effective. Others would want to go for the method wherein you eliminate the debt with the highest interest rate first, but in my case, since they all pretty much had the same interest, I preferred the idea of gaining momentum. And it’s a good thing that I also asked “Is Debt Settlement Money Taxable?” because this would have caused more problems with the IRS, had I not asked.
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