Debt Problems

How can I consolidate mine and my husbands debts?

I'm trying to fix my credit, as well as my husbands. What's the best way to consolidate both of our debt? Should we do it separately? Or joint? His debt is much larger than mine, but my credit score is much worse than his... I don't even know where to begin. Can anyone give me advice?

Public Comments

1. research for a debt-consolidation company(research being the key word here)there some out there that will take your cash,and mislead you---b-carefull
2. Talk to someone at Consumer Credit Counselling - they seem to be honest - many of the companies who claim to work with your debts will just take your money and not help you.
3. Read Dave Ramsey's "Total Money Makeover". It will save you alot of heartache. Its not a quick fix, but it works. He gives your a workable plan to get out of debt and get back to not living beyond your means. Good Luck
4. Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loan<!--allows you to condense your monthly payments into a single, simple bill, while lowering your interest rates and helping you pay down your debts more quickly and easily. It is also an essential tool in avoiding the much more serious step of declaring bankruptcy. http://badcredits.awardspace.com/Loan-Consolidation.htm Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several-->old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.
5. daveramsey.com but briefly, you're married so do it together. Eat rice and beans, make minimum payments on everything except the smallest debt and apply every extra penny to it. When it's paid, go to the next smallest.
6. Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.