NIU

debt consolidation

Posted by Stacy on Friday, September 12, 2008 9:25 AM

I have seriously been considering debt consolidation lately. My husband injured his back at work and so I have been working during the days and going to school at night and the schedule is really starting to take its toll on me. I can't even imagine how I am going to keep this up for another month and not only that but I am not even able to pay the bills. The whole thing has been a bit overwhelming but I am really trying to work with it. A friend of mine just told me that she did a debt consolidation program last year and that it really saved her. She said that they were able to keep her from getting her house foreclosed on and that they were able to get her on a monthly budget that she could afford. She said she had a lot more debt than I have and that her monthly payments were so reasonable, they actually gave her some breathing room. She said that not only did it stop the nagging phone calls from debt collectors, but it also allowed her to take some time to get the rest of her life back in order. She said the companies stopped charging her interest and late fees and with each payment her balances were finally going down. The only problem that I really see with doing this is that my husband is not exactly on board with debt consolidation. He is very out of sorts with not being able to work and all, and he says that we should be able to pay our bills on time. I showed him the numbers on paper, but he simply refuses to believe that there is no other way. I got the name of the company she used to consolidate her debt, and I am seeing if I can set us up an appointment. Maybe if my husband could actually meet with a financial adviser who believes this is a good option for us, then just maybe he will consent to it. I think maybe if he hears this information from someone other than me, then maybe he can relax and believe that it must be the best option for us. After all debt consolidation is still a way of making good on your debts, just at a little bit slower and more reasonable pace.