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jamesvinson
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Posts: 1
Joined: December 9th, 2018, 6:53 am

Debt Issues

December 9th, 2018, 7:14 am

My wife & I had been struggling to pay our personal loan and credit card debts for over 12 months. Our problems started when I was retrenched about 18 months ago and it took me 5 months to find another job. During this period when I was unemployed, their creditors did not receive any repayments and despite our circumstances, some creditors lodged defaults on their credit reports and finally threatened legal action which included garnishing my wages. We both have been unable to bring our personal loan and credit card accounts up to date. All our loan accounts were in arrears and they did not have the money to pay them off. Our debts totalled $32,800. Their minimum monthly repayments were $1,150, however, we only had $410 left over each month after they met their living expenses. We desperately wanted to repay their debts and did not want to go bankrupt. Can you people suggest me an solution? I have heard about debt consolidation loans what do you guys think about it?
 
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bearish
Posts: 5188
Joined: February 3rd, 2011, 2:19 pm

Re: Debt Issues

December 9th, 2018, 2:57 pm

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