I am one of those people. I am 25, and I have school debt, credit card debt, car payment debt, etc. Well recently, I got a letter from a courthouse stating I needed to pay for one of my bills by early May. I realize now that I need to find a way to start paying for all my bills. I make minimum wage, and I have absolutely no hope of paying my current month to month bill situation.
My real question is, what are the negatives you might not know about when going through with a debt consolidation loan. Also, are there any other alternatives worth looking into? I just am very inexperienced here, and don't want to act hastily and regret my decision. Thank you r/pf!
Edit: Since I need to clarify, here are some breakdowns of where my finances are currently: Income: $1,100 a month Rent: $300 Electric: $100 Car Payment: $265 Car Insurance: $180 Credit Card 1: $5,00 (Balance) Credit Card 2: $1,500 (Balance) Student loan 1: $15,000 (Federal) Student Loan 2: $33,000 (Federal) Student Loan 3: $5,000 (Private)
Also, I made some poor decisions and haven't payed some of these bills in over a year. I'm not coming here to get told how stupid that is, I understand I have made bad decisions. I am here to try and fix my past mistakes. As for my current spending, I haven't even had enough money to get groceries this week. I spend less than $75 a month on food and gas.
Submitted April 25, 2018 at 10:02AM by McDaltons https://ift.tt/2qZE77H
