Comments on: Get Out of Debt – What Strategy Makes the Most Sense? http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/ Need Debt Help? Confused by Debt Resolution Options? Get Unbiased Credit Card Debt Advice to Find Honest Debt Settlement Programs, Credit Counselors, and Bankruptcy Attorneys Sun, 29 Apr 2012 21:51:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Nick http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-6675 Nick Tue, 25 Oct 2011 06:56:04 +0000 http://damonday.com/?p=224#comment-6675 Debt snowballing made a lot of sense at the time but is now catching up with me. Need to take a step back and make a new plan with the strategies you outlined. Debt snowballing made a lot of sense at the time but is now catching up with me. Need to take a step back and make a new plan with the strategies you outlined.

]]> By: Damon Day http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-1758 Damon Day Thu, 28 Oct 2010 07:27:55 +0000 http://damonday.com/?p=224#comment-1758 Hello Paul, I know it can be a very daunting decision. If you are asking me what I think you should do, I would need to know a lot more information about your current financial circumstances and overall life situation. In deciding between protecting your credit and getting out of debt, I typically lean toward getting out of debt over protecting your fico score, except perhaps in rare circumstances where your income is dependent on a good fico score. Given the current market for credit, and the fact that you appear to be in over your head with debt, you good credit score likely can't do much for you anyway right now. I know filing a Bankruptcy can be a very emotional decision. If you would like me to review your actual financial circumstances and give you a second opinion before you take the plunge, please schedule a phone consultation with me. If I think filing a BK is your best bet after I look everything over, I will tell you. If you have some other options that could also work, I will inform you of that as well. Either way, you will know exactly what you need to do after our call. Hope that helps. Hello Paul,

I know it can be a very daunting decision. If you are asking me what I think you should do, I would need to know a lot more information about your current financial circumstances and overall life situation.

In deciding between protecting your credit and getting out of debt, I typically lean toward getting out of debt over protecting your fico score, except perhaps in rare circumstances where your income is dependent on a good fico score.

Given the current market for credit, and the fact that you appear to be in over your head with debt, you good credit score likely can’t do much for you anyway right now.

I know filing a Bankruptcy can be a very emotional decision. If you would like me to review your actual financial circumstances and give you a second opinion before you take the plunge, please schedule a phone consultation with me. If I think filing a BK is your best bet after I look everything over, I will tell you. If you have some other options that could also work, I will inform you of that as well.

Either way, you will know exactly what you need to do after our call.
Hope that helps.
Damon Day recently posted..If someone doesnt want you to get a 2nd opinion You Better Get OneMy Profile (dofollow)

]]> By: Paul http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-1750 Paul Wed, 27 Oct 2010 20:21:38 +0000 http://damonday.com/?p=224#comment-1750 hello Damon, I am at a crossroads where i have a lot (95K) in credit card debt. My wife has 16K and has paid off 2 cards already with snowballing. we also have joint CC for home improvement stores that add up to 20 K. I have always paid my CC on time if only the minimum. I recently saw a bankruptcy lawyer who suggested because we are married that my wife should be going on the bankruptcy also. We do not qualify for chapter 7, only chapter 13 because we both have good jobs. I worry about both of our credit ratings being botched for years to come, and also for emergencies. I have looked into credit consolidation (wont be too much better) and debt settlement (dont know who to trust) or do the bankruptcy 13 and just be done with it, then rebuild our credit again. My wife is willing to do it with me as long as i learn my lesson..... Thank you in advance for your prompt response. Paul hello Damon,
I am at a crossroads where i have a lot (95K) in credit card debt. My wife has 16K and has paid off 2 cards already with snowballing. we also have joint CC for home improvement stores that add up to 20 K.
I have always paid my CC on time if only the minimum.
I recently saw a bankruptcy lawyer who suggested because we are married that my wife should be going on the bankruptcy also. We do not qualify for chapter 7, only chapter 13 because we both have good jobs. I worry about both of our credit ratings being botched for years to come, and also for emergencies. I have looked into credit consolidation (wont be too much better) and debt settlement (dont know who to trust) or do the bankruptcy 13 and just be done with it, then rebuild our credit again. My wife is willing to do it with me as long as i learn my lesson…..
Thank you in advance for your prompt response.
Paul

]]> By: Ilyse Klavir http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-852 Ilyse Klavir Sat, 03 Jul 2010 19:58:16 +0000 http://damonday.com/?p=224#comment-852 In your comprehensive survey of debt issues, I was personally most interested on how you were going to handle bankruptcy. I didn't see you dealt with the issue in detail, but I did note that many of the questions you ask of the individual debtor are many of the same questions we ask in a bankruptcy consultation. In general, I think you are approaching debt with the broad view which is necessary to achieving the best solutions. .-= Ilyse Klavir´s last blog ..<a href="http://www.klavirlaw.com/artist-community-lancaster-california">Far From Bankrupt on Ideas- Artist Community in Lancaster- California Wins 2010 AIA-HUD Secretary’s Award</a> =-. In your comprehensive survey of debt issues, I was personally most interested on how you were going to handle bankruptcy. I didn’t see you dealt with the issue in detail, but I did note that many of the questions you ask of the individual debtor are many of the same questions we ask in a bankruptcy consultation. In general, I think you are approaching debt with the broad view which is necessary to achieving the best solutions.
.-= Ilyse Klavir´s last blog ..Far From Bankrupt on Ideas- Artist Community in Lancaster- California Wins 2010 AIA-HUD Secretary’s Award =-.

]]> By: Nick Chertock http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-745 Nick Chertock Sat, 29 May 2010 07:11:25 +0000 http://damonday.com/?p=224#comment-745 Damon: I'm interested in your article on topic #3, Credit Counseling. Damon: I’m interested in your article on topic #3, Credit Counseling.

]]> By: Damon Day http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-580 Damon Day Fri, 23 Apr 2010 01:02:53 +0000 http://damonday.com/?p=224#comment-580 Hello Eser, You are welcome. I am glad I was able to point you in the right direction this afternoon. Thank you for the kind words. Please keep me updated on your progress. .-= Damon Day´s last blog ..<a href="http://damonday.com/1307/credit-solutions-of-america-sends-me-a-cease-and-desist-letter/">Credit Solutions of America sends me a Cease and Desist Letter</a> =-. Hello Eser,

You are welcome. I am glad I was able to point you in the right direction this afternoon. Thank you for the kind words. Please keep me updated on your progress.
.-= Damon Day´s last blog ..Credit Solutions of America sends me a Cease and Desist Letter =-.

]]> By: Eser http://damonday.com/224/get-out-of-debt-what-strategy-makes-the-most-sense/comment-page-1/#comment-576 Eser Thu, 22 Apr 2010 21:48:25 +0000 http://damonday.com/?p=224#comment-576 Hello Damon, Thank you very much for sharing your thoughts and highlighting the pros and cos of different alternatives I could be pursuing given the situation i am in. You gathered enough information from me to give me the exact options that may be viable in my case. There were no unnecessary selling of any idea or option, the very fair and candid conversation was most helpful for me. Your approach is exactly what you are claiming to be doing no more - no less You answer the questions from a knowledge base and help your listener, me in my case, make an appropriate decision without being forced in any way. This is in 100% contrast with anybody I talked to over the phone and on the web on this matter of credit card dept that I found myself while dealing w unexpected expenses when I have a fixed income. Thank you again very much for your genuine interest to help the one who comes to you for guidance. That is exactly what you gave me. Best regards Eser Hello Damon,

Thank you very much for sharing your thoughts and highlighting the pros and cos of different alternatives I could be pursuing given the situation i am in. You gathered enough information from me to give me the exact options that may be viable in my case. There were no unnecessary selling of any idea or option, the very fair and candid conversation was most helpful for me.
Your approach is exactly what you are claiming to be doing no more – no less You answer the questions from a knowledge base and help your listener, me in my case, make an appropriate decision without being forced in any way. This is in 100% contrast with anybody I talked to over the phone and on the web on this matter of credit card dept that I found myself while dealing w unexpected expenses when I have a fixed income.
Thank you again very much for your genuine interest to help the one who comes to you for guidance. That is exactly what you gave me.
Best regards
Eser

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