There are many ways to accumulate debt. Many
people run into trouble when they encounter disability and/or high medical
bills. Some have sunk their life savings into starting a business, and it didn't
work out. Some have simply overspent in the past. We are not here to judge.
We are here to help those who are ready to turn their lives around.
There are different types of debt - secured
and unsecured. Secured debt is backed by property, such as a home or auto,
serving as collateral. They may also be backed by financial instruments,
such as bank accounts or stock certificates. You can lose your collateral if
you don't keep up with the terms of the loan. Types of secured debt include
mortgages, home equity lines of credit, auto loans, and secured credit
cards. Unsecured debt is supported only by your good history of paying debt
in the past. The risk of unsecured debt is higher for the lender, so the
rates and fees are higher for these types of loans.
Your Debt Situation
You never seem to get
You're sliding down a slippery slope. You may
avoid thinking about it, but it's always looming over your head. You must
sit down, take stock, and make a plan for paying off your debt. If you can't
design a workable plan, you must seek alternatives. They do exist.
You have so much
debt you can't ever imagine paying it off...
If you have truly taken stock of your
situation, and there is no way to get out from under the debt, you must seek
alternatives or live forever with a stressful, unmanageable burden. There
are ways out.
You can't make your minimum
payments and you see yourself sliding down a slippery slope...
You are in trouble and worried. You are damaging your
You have accounts in default...
You are in deeper trouble and so stressed that
you're losing sleep. You have accounts in default and being contacted by Collections
Agencies. You're afraid to answer the phone. You are in danger of losing