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Posted in Paying Your Bills
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Question By
Jensgem

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Overwhelming debt...but good credit, need advice.
I have used personal credit to pay bills at our shop...thinking the economy would turn around and I could pay myself back...but that hasn't happened. My score is low 700's, but I have no available left and my debt to income ratio is in the toilet. My husband is on disability, but that doesn't cover all our bills either. I'm constantly robbing from Peter to pay Paul and I'm tired of it. I worry that we'll have something break down (car, washer/dryer, A/C) and we don't have the money or available credit to fix it. Have 2 home equity loans as well.

I have thought about bankruptcy but I'm not sure that's the answer. I know it will hurt my credit score, but at this point, my 'good' score isn't good for anything. I also have a son looking to go to college in a year and not sure if a bankruptcy will hurt me trying to get financial aid.

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you put most of your bills on credit card right so as long as your making minimum payments your score will stay in tact.....cost you interest but thats it.......as far as what it sounds like you having been using credit cards to supplement your business loss for a while now and you've run out of availble credit to keep charging off bills when you don't have enough money coming in to pay all your bills....honestly your best solution is to cut cable, cell phone (believe it not there was time people didn't have cell phones and the world kept on functioning just fine)....no more eating out brown bag it.....you need to cut everywhere you can I'm assuming since you have a business your proab need internet tomake certain orders most do so can't cut that......what you need to do is add up your income....and bills to see how short you are and see where you can cut i mentioned the major ones....worst case senrio cose up the shop get a regular 9-5 flipping burgers at mcdonalds job is a job  

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