Help with my debt?

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My income has recently been cut by $30k a year due to a loss of employment. We're able to pay everything but one unsecured loan with the payment being @ $281/month. I'm looking to consolidate or eliminate my debt. Please help

Help with my debt?

The first thing that you must break yourself of is the lifestyle that you are accustomed to living on making $30k more a year. You now need to take a serious look at your budget/create a budget in order to understand how this will work out. You may need to get an additional job for a short period of time in order to eliminate some of this debt. Debt consolidation is a scam. You pay a fee and they traditionally lump together all your debt with an interest payment that is an average of the whole (your high interest debt may go down but your low interest debt will go up). The only way you get a cheaper monthly payment is because they extend out the length of the loan. You don't need a longer loan, you need to get angry and intense about this debt and pay it off! But it all starts with a budget.

If you properly write out and follow a budget, you will begin to experience freedom. This is strange to many people as most think that budgets are made to control us and take away freedom. However, a properly written out budget begins to control the money. We spend too much time making money to allow our money to control us. Once we know where every single dime we make is going, we can easily see where problems lie and make adjustments.

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Help with my debt?

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