Posted by admin in It’s really sad when I get gas for $2.82 a gallon and think, “Gee, that’s cheap!” But when you consider that just a few months ago, I was paying $1 more a gallon, yeah, anything under $3 looks good to me.
The dropping gas prices are the only thing positive I can find about the current state of the economy. Unemployment is SO high in my country, and I’m feeling lucky to have a job when I see so many people out of work and struggling. Even geeks, who usually have no problem finding work, are getting laid off right and left as employers try to cut costs by outsourcing IT jobs to India and other overseas countries.
This is definitely a time when people with staggering credit card bills need to consider debt consolidation to lower payments or cut interest rates. Creditors are definitely willing to work with people to avoid collections – after all, they’re trying to keep their costs down as well! Bills.com has a neat debt consolidation center that will help you figure out what your options are and see how much you could save a month. If you just pay the minimums a month, you’ll NEVER get out of the hole you’re in! The nice thing about debt consolidation too is that instead of making 4 or 5 little minimum payments a month, you can make one payment that takes care of everything. It’s really amazing how fast you can get out of debt that way!
you are right dropping gas prices are the only thing positive you can find about the current state of the economy.
You can also consider debt settlement or negotiation and not risk any assets saving sometimes up to 40% on the debts.
just a thought
Interest rates and charges on credit cards are like the death of 1000 cuts. You don’t fully feel them all the time, but you sure are bleeding. It shocks me how people are willing to just pay the minimum and think that they will climb out of the hole. Cut up your credit cards and get some help from pros who know how to make the banks take less.
On debt consolidation, yes, that does make more sense to consolidate all debts and make one payment instead of 5-7 payments. Thanks for the info on debt consolidation, am planning to try it out. I have nearly 7 payments to make every month and keep postponing ‘trying to consolidate’ all debts into one. Anyway, it is high time that I went in for some serious debt consolidation, at least that way, I should be able to save some!
This worldwide recession is tough on all of us. My heart goes out to those who were laid off unexpectedly and are now struggling to pay their bills. I think debt consolidation is a good thing in these situations.