My friend has some major debt problems..i don't know what to suggest
 

here is the situation, my friend is in bad debt. his heat is cut off because he didn't pay the bill, now its too high for him to pay what they want to deliver more oil to him. he owes a bunch of money on his credit card and they want 2700 just so they won't take him to court, beyond this he is also trying to pay his mortgage so he doesn't lose the house, he already refinanced once and blew the money. he basically lives paycheck to paycheck and has nearly no extra money after other bills and food and let things go to shit due to a drug problem but now hes off it and doesn't want to lose his house. i have no idea what to suggest, so i am wondering if anyone here has any ideas.

Fake his death and create a new identity :thumbsup

Let him get another job? Or borrow him money if you trust him and want to help him out.

Suck dick for cash?

:1orglaugh :1orglaugh :1orglaugh

Sounds like he never learns... Sometimes a hard lesson is the only lesson.

sell house, move to country with no extradition treaty

Selling the house might be the only option. It sounds like it's not an asset he can afford to keep right now.

But first he definitely should call a debt specialist. THere are tons out there.

Been there before but only worse, lost the house and pretty much everything else and honestly, the only way to learn from being a dumbass is to hit rock bottom. People helped, but I would either mis-manage the money or blow it on dumb ass shit..

wait till they take his ass to court and start to garnish his checks and see how bad it is then.. :2 cents:

If he really can't afford to make the payments on his unsecured debt, borrow, etc then he needs to look at chapter 7 / bk.

At least he can keep his house then.

Sounds like he may have to sell the house. If he blew his money already, helping him will only make matters worse.

Little tough love should teach him a valuable lesson. If it doesn't, he's in for a pretty rough life.

he should be able to do whatever it takes....desperate times call for desperate measures....

Tell him he can call up each creditor (the bank connected to the CC) and try to make a deal with them. The CC company is losing money either way, but they'd be interested in making a deal if it means they will lose LESS. He'll need to plead his case over-the-phone, and hope something can be worked out.

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thanks for the suggestions everyone. i agree that sometimes you gotta lose it all and start all over but he really doesn't want to lose the house, its all he has left and probably wouldn't get much if he sold it since he owes so much on it anyways.

From the sounds of it he will lose the house sooner or later anyway, by selling it himself he will avoid a lot of costs.

Then again it might be hard to sell a house with no heat.

the first thing he should do is join AA, I fucken gaurantee he's an alcholic, then it will be easier to kick the drugs. Then he should move home with his parents , rent his house and hope the houseing market keeps doing 10-15%. I won't matter though , he is probably in his 30's. If you are still a fuck up at 30, you are fucked for life :-)