Posted on: 06th Feb, 2009 02:25 pm
i have $40,000 worth of cc debt (over 6 cards) which i can't pay the minimums on at all because i am only collecting unemployment. would it be better to sell the house for say $59,000 (half what it was worth a year or two ago) or try and get a well paying, full-time job, get into a debt consolidation program and try to pay it off with monster payments in 5 yrs? have had it listed now for 2 months with no offers. there is no mortgage on the house but i can't get a home equity loan because i have no job. can they put a lien on my house or garnish my wages when i do get a job? can they touch my unemployment?
Hi cmill,
In my opinion, you should try and get a full time job and then go for a debt consolidation program in order to clear off the credit card debts.
It is true that you won't be getting a loan as you do not have a job at present. If you do not want to stay in the house, then you can try selling it off and pay off the credit card debts.
In my opinion, you should try and get a full time job and then go for a debt consolidation program in order to clear off the credit card debts.
It is true that you won't be getting a loan as you do not have a job at present. If you do not want to stay in the house, then you can try selling it off and pay off the credit card debts.