Link to a forum : "Consumer Credit Counseling etc."

Last post: Feb 23 2010
(more than 26 replies)

Opening post of this forum :
"Hi ,

I'm not saying I'm going to do this, but it never hurts to consider options. Does anyone know anything about debt consolidation, consumer credit counseling, bankruptcy, and similar such programs?

DR says they are a bad idea b/c they will destroy your credit. But, I'm starting to wonder if it might be the only realistic option for us. Ironically, one reason we were able to take on so much debt is because of our good credit. Somehow we always manage to make the minimum payments and make them on time. However, if we were to move I doubt if we could get another mortgage or even qualify for a rental property because our debt to income ratio is terrible with a capital T. And I know of others who have declared bankruptcy or done some type of debt consolidation and they survived and were better off in the long run.

If the farm sells the situation will change considerably but who knows when that will happen.

Given the poor economy I don't see our income going up significantly any time in the near future. At the rate we're going we will literally have this consumer debt for the rest of our lives.

Does anyone have any ideas? "

see this forum