Have lots of secured debt and no credit cards. Need help with debt.?
Answers:
Create a budget so you can see where every dollar is going.
Possible solutions are getting a second job.
Also, consider selling items to reduce liabilities, consider selling house and cars and going with something cheaper (i.e. renting a place and older used cars).
Please feel free to give me a call anytime this week between the hours of 9-6 I may be able to help you with this situation whether it be combining and refinancing your debt or guiding you in the right direction my phone number is 877-393-5640 my name is Ari
You need to cut your expenses. Anything else will put you in more debt. Or you need to get a better job or a second job.
You need to re-evaluate your budget immediately. If you don't have a written budget, you need to start on one right away.
If your total debt is more than 50% of your income, you need to start selling stuff. You wont make it in the long term.
Put a for sale sign on the cars and the house, even if you are upside down in the loans. For instance, if you owe $20k on a car and you can only sell it for $18k. Sell it for what you can. Then at least you will only owe $2k instead of $20k.
You have a long, scary road a head of you. Remember, don't try to borrow more money to get out of this mess. Get a second or third job instead.
Good luck.
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