Why am I such an idiot?

I am letting myself ruin my credit. What are my best options for getting my debt taken care of before it screws my credit up too bad. I%26#039;m about $6000 in the hole right now.

Why am I such an idiot?

No...you%26#039;re not an idiot. An idiot wouldn%26#039;t think there was a problem.

You can do it yourself, as many creditors have hardship programs. They are much easier to work with before you default, than they are once debts are in collections. Usually interest rates are reduced, and sometimes late fees may be waived. You can also hire a company to do this for you as well.

There is also the option of settlement, but this is a step you%26#039;d take seeking to avoid bankruptcy...the problem is that it litters your credit report with charge offs, and you may be sued before you can complete the program.

Then there is bankruptcy, the last resort. Trashes your credit, but it does give you a chance at a fresh start...I wouldn%26#039;t advise BK for only $6000.

My source below has letter templates you can use, you can search for consolidation companies there (and some feedback), and/or you can register for a free, no obligation counseling call.

Why am I such an idiot?

First of all, you are not an idiot. Millions of Americans (me included) let their credit balances get away from them. One possible option you may want to explore is to borrow from something like your 401 (k) or your insurance cash balance. In othere words, something you can take out from existing resources and oay yourself back with interest. That way, you woulnd%26#039;t have to go to a bank for a loan. You can loan yourself funds and pay yourself back over time. That is just one strategy that can work.