Up to my eyeballs in debt

Currently, my husband and I have a combined credit card debt of $20,000+ and loan debt of $35,000+ including school debt. We make the minimum monthly payments, and we do not feel like we are making any progress in our debt and that our hole is growing. We have recently been looking at debt consolidation loans because my husband is already enrolled in a debt consolidation program (he enrolled before we met) and it impacted his credit in a very poor way. I'm desperately seeking advice especially since I just found out I do not qualify for short term disability through my job and I will be out of work for 6 weeks. Please help. I need guidance and advice. I've been on this path for 3 years and we have hit our wall and we are very outside of our means.

Thanks in advance,
Abbey

2 Answers

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You are not going to get a loan for that amount unsecured. And even if you have security, you NEVER exchange unsecured debt for secured debt. Any debt program i going tank your credit further.

Your student loans.....do you have deferments left? Have you consoliated them yet thru direct loans?

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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