10 Comments

  • rm.mohmand@gmail.com'

    Yama

    A very nice;y written and informative post. Thanks for sharing the information.

    Reply
    • Daddy Poorbucks

      Thank you for your comments. We’re here to help.

      Reply
  • tracy@alexcrossaddict.com'

    Tracy

    Daddy Poorbucks! I love it! This is very valuable information and I appreciate the time that you put in to explain bankruptcy and personal loans. It’s nice to hear from someone who has actually been there and understands . I recently finished up a consolidated loan and am very happy that I chose it. Thank you for introducing me to Loan Camel, I will keep you in mind if I ever need a hand.

    Reply
    • Daddy Poorbucks

      Thanks for reading! I’m happy to see that you were able to successfully consolidate things into a loan. Each month you pay it down is rewarding knowing that you are getting closer to your ultimate goal.

      Reply
  • allencathy719@gmail.com'

    Cathy Allen

    Eons ago, my then-husband and I filed chapter 11 bankruptcy. I guess I can see why it is no longer an option, but if credit card companies weren’t so unconscionable then we wouldn’t need most bankruptcy options anyway. I had never heard of chapter 7. Thank you for your sage advice!

    Reply
    • Daddy Poorbucks

      Thanks for sharing. It’s never easy. If ever considering a bankruptcy, definitely see if a Chapter 13 is possible, as opposed to a Chapter 7. And if you think you can successfully pay down the loan, a personal loan to consolidate credit card debt is my go to option.

      Reply
  • wenhua.chen555@gmail.com'

    Wenhua Chen

    Well. Well. Thank you for sharing this post with us.

    Reply
  • sstojkovic@rocketmail.com'

    Strahinja

    Thank you for this informational article. I think personal loans are far better than bank loans. I think you can be more flexible when you borrow a money from a family member, than from a bank. Just my opinion.

    And you always have some family member that is willing to help.

    Strahinja.

    Reply
    • Daddy Poorbucks

      A personal loan from a family member, under normal circumstances, should be much better than taking a loan from a professional lender, simply because you could potentially have a better rate and the debt balance would disappear from your credit report, jacking up your credit score.

      But if a personal loan is not available from someone close to you, for whatever reason, then taking the right personal loan from a lender is a great way to get debt under control with a date certain to pay it off while providing the ability to lower your monthly debt payments. The ability to look at multiple lender rates online without impacting your credit is a great feature which you can check out here at Loan Camel.

      Reply
    • Daddy Poorbucks

      Yes. A personal loan from a relative would likely be at a favorable rate and your credit score would rise given that this debt is literally vanishing from the eyes of the credit bureaus.

      If a loan from someone close to you is not an option, you can consolidate your credit card debt with lower monthly payments and long term savings as well. You can see your rates without impacting your credit here at Loan Camel.

      Reply

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