If a good friend of yours has had serious financial misfortunes lately and is unable to meet her debt payments

If the great crony of yours has had critical monetary misfortunes newly as well as is incompetent to encounter her debt payments, what recommendation can we give? Be certain to embody the subject of failure since she has listened which it eliminates all your credit problems. In your discussion, heed in between true failure as well as the salary earner plan.

There are 4 suggestions to question “If a good friend of yours has had serious financial misfortunes lately and is unable to meet her debt payments”

i do not beliece in misfortunes or bad luck — you bring on your own problems — she needs to downsize and get her act together == feeling sorry for one self – does not pay the bills == she could do away with internet, cable tv and cell phone services and save payment or two toward debt — bankfruptcy does not eliminate credit problems it buries it in the deep 6!!!
Tell your friend to go here:

http://www.daveramsey.com

He has all the advice she needs. He wants NO money, only hard work, common sense, a budget that you stick to and NO Bankruptcy. You will ruin credit for up to 7 years by doing that. And not all the bills are paid with bankruptcy!
First, get organized enough to know what they owe and the payment schedules. Then they need to put together a budget of what they can honestly pay. There are consumer credit counseling services almost everywhere that are free (paid for by the creditors) and can usually help negotiate free interest of other ways to eliminate a lot of the cost of paying back credit. Bankruptcy is, in my opinion, a last option. A Chapter 13, "Wage Earner" plan won’t do much (if anything) more than a consumer credit agency can do anyway, and a Chapter 7 (regular bankruptcy) means that you will never be meeting your commitments and the creditors will be charging off money you borrowed in good faith.

No matter what, without a good plan that is professionally thought out, don’t go for any bill consolidation scheme. Too many people end up paying interest on interest and lose much more than they should because they get taken advantage of by predatory lenders.

Talk to a pro in your area and they’ll probably be able to do a lot more than you think. Then you have to do your part and live within your means.

Good luck!
She needs to get herself on a written budget. Bankruptcy doesn’t end your credit problems, it ends you credit.