How Can You Pay OFF your debts ???
 

I have about 12K in student loans, which are defaulted already.
about 2K in credit card
5k I borrowed from my friend, paying 8% interest every month.
6K from a business partner /
so the total debts add up to 25k .

my day job pays very little .

Thank you

Get a night job too.

ditto on that

whoa..

:helpme:helpme

Grow Thai sticks

Is that... that stuff that's tied to a stick? :helpme

Is that 8% p/a interest with payments every month, or 8% PER MONTH

If it's the latter then that's nearly 100% p/a :eek2

What kind of friend charges 8% interest per month! I beleive the max he can charge, is 30% per year.

Dude, depending on the rates of your student loan, maybe you can look into consolidation and renegotiating your debt package?

:2 cents::2 cents::2 cents::2 cents::2 cents:

yea night job. Work weekends... Temp whatever. Hustle that shit gone.

get a 2nd job and work hard, you can do it!

Sleep with Rick Salomon??

Hey, it worked for Pam Anderson....

Pull a Pamela Anderson... find a gay millionaire and have sex with him.. and possibly marry him :thumbsup

You should try Prosper. I've been loaning money to people on that site.

The student loan people are very easy to work with. Let them know what you can pay and they will work with you. If you decide to negotiage with them, ask them for the amount of interest that you owe today then ask them to cut it in half. They will do that but if you default again, they will make you their bitch.

Your friends interest rate is usury and in many states they loose all of the interest for committing it.

Other than that, pick the highest interest debt and pay that one off first and work yourself down the interest rates, and not by the amount owed.

Lastly do not borrow money you can not pay back quickly.

Who the fuck is this cocksucker? Is he another one of those who made a killing taking money from the most desperate ones? The lowest of the lowlives.

You should mention that unless this chappy has a good credit score, and is asking for a small amount the odds of him getting any real help on Propser is next to nill.

Hopefully his FICO score is above 520.

:1orglaugh:thumbsup

Ask Alienq, apparently he can teach you how to become a gay cam host.

It would have to be significantly higher than that to get any real help on Prosper. Especially if he is coming in new with no relationships.

That doesn't even take into account the amount of debt he is asking for, nor which state he lives in for the interest rate cap chief.

:disgust

BTW, for those looking to loan a little money to others check out Kiva. The gain is not so much the return on your loan but rather in developing international relationships. I teamed up with a couple of people to buy a bulldozer in Ghana and it's paying $7K per month on a $70K investment.

He could always try. Only he knows his credit score and what his day job pays. This is the best time of the year to borrow money (last quarter) a lot of us are looking for writeoffs and are willing to take higher risks. I would rather take the risk in helping this guy out than paying it to Uncle Sam. At least there is a chance of making something in the future than it being gone forever.

Stay as far away from that guy and others like him as you possibly can get. These "get out of debt" people are the lowest of the low, I swear. They make millions on the backs of people who can least afford it by selling them a pipe dream.

Your best bet is to get another job, pick up some overtime and/or take on some side work. If you have a marketable skill, put it to use. Less time fucking around and more time working.

True dat.

20k of debt for myself, a combination of those get now pay later . student loan and a credit card

the way I am tackling my debt is by bringing in more income. and calling my creditors and negotiating a plan would be surprised of how many creditor companies have a interest relief program for people who are behind on their bills to the point where it;s almost reaching third party collections.

citi financial after a year of battling with them got me on their interest free program i pay 15$ a month until my 1300 loan is gone.

the rest that aren't able to cooperate or don't offer an interest free loan are enrolled at a non-profit credit council ling program at credit Canada i pay 62$ a month for up to 3 years or sooner.

- basically all you can do to beat down that debt, is to increase those payments, try and get credit counseling, and increase your income and decrease your expenses.

whore yourself out!

I pay 400/month just the interest. until I have 5K to pay off my debt. If it's calculated by yearly rate, yes. it's 100% .

Debt consolidation. Get all those things paid off and get a single loan with a better interest rate. You're paying insane amounts of interest.
WG

Hey could be worse. No education and in jail. Just work hard and you will make the $$$. I have gotten out of some big debt a couple time.

Flat backing..get out there and sell your ass

In the US that is illegal. :2 cents:

Dave's da man. :thumbsup I have eliminated tons of debt following what I read in Financial Peace.

Interest is a killer :(

If you have the credit... Get a 0% balance transfer credit card that gives you a year or more if possible... Then max it out with balance transfers.

It won't pay down your debt, but it will stop the interest from increasing it.

Then after 10 months or so, get another and transfer it again.. All the while paying it down.

Thats usury if you meant it as you phrased it :x

Sounds like a true 'friend'. He wouldn't happen to be a shark? :winkwink:

Try consumer credit counseling or another non-profit service. They'll get you on a plan that will get your debts and interest rates down. One monthly payment - watch out for charlatan copycats that are not truly non-profit.

They'll give you the tools you need to get out of debt for good and education to stay that way - I know a few people who have used this a suceeded.

Also, get new friends.... that one charging that much is doing you no favors.

cackle...

Dave is king.

wow, you are fucked with those loans, sorry , buddy