Starting Over
mindboggledinAR
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
RP: From Money Matter RE: Debt Consolidation Program
After my separation and ultimate divorce, I was ordered to pay one half of my mortage, which was a hefty amount, along with my rent, bills, and car payment. I also didn't fight for anything in my house, such as furniture, etc, so basically I had to start completely over. So, eventually after paying all of those bills and trying to get on my feet, I turned to my credit cards and now I have a mountain of debt. I recently said forget this, trying to send payments to all of them and signed up for a debt consolidation program. Actually it was one that one of the credit card companies suggested. Was this a good idea? Has anyone done this before? Should I have went with a nonprofit company?
TIA for any adivce.
Re: RP: From Money Matter RE: Debt Consolidation Program
This is just my take on this.
Generally what the debt consolidation program does is negotiate with your lender/credit card to lower the interest rates and then distribute monthly payments on your behalf. By going to a non- nonprofit program, you are basically paying someone else to do something that you might have been able to do yourself.
Did the consolidation program require you to close your credit card? If so, this may have lowered your credit score and can take a while for it to come back up if you ever needed to apply for a loan or open a new credit card. This can also affect your qualification on a low interest rate on a future home loan.
I am sorry you are going through this and I also went through something similar in my past. It is not the end of the world things will get better as long as you are determined to watch/protect your finance and budget going forward. The good thing it is all in the past and now you can just move forward. Always hold your purse string tightly going forward.
I don't venture the Money Matter board (I have to limit my time on the Nest) but I hear you can get some really good advice there.
Heavenly,
Once I graduated from college my credit was screwed and I was able to negotiate some the amounts, write letters and build it back up to where were able to buy a 250K house, then I divorced....lol So, I'm hoping that i will be given another chance to do so again once I can gain some relief from all the bills, save some money and I will pull them out of the program one at a time when I'm able to negotiate and pay them off.
although my previous marriage didn't taint my thoughts about a future marriage, the second one will be my limit. Next time, I will be SOOO much smarter with my finances and such. I know one day I will bounce back from this, it just seems like so far away and that I'm drowning.
Thanks for the advice and support, I greatly appreciate it!