Do you have any assests you can liquidate? Do you own aby valued stock (well in this market, who knows?) or shares you can sell off?

Do you live with anyone? Do you have roomates? Someone to share monthly living costs with? That is an alternative to easing the burden and allow you to pay more toward the total debt monthly.

The only way to get rid of this debt is to pay it off is to pay more than your regular monthly payments. Minimum payments will not due, if at all try doubling them up if you can, or what you can.

Sit down and write out what you make, what you pay out and then look at your needs versus wants. Start eiliminating things you don’t need. I know this is tough but it will not be the end of the world, you can do this. And above all, you will learn and grow from this lesson.

Yes its a hard pill to swallow, but good for you, you recognize and want to do something about it.

This is hard on your emtions as well, because you will be feeling bad about what you let happen, try and keep positive and by that I mean, do something meaningful with your spare time to keep your mind off it. Volunteering can be very rewarding, whether you like to work with kids, animals, the elderly, the environment, teaching someone skills that you know to get them on their feet.

I wish you good luck, and keep a positive outlook (yes it will be a struggle at times) but you’ll be ok in time, just keep at it.

References :

make a list of your monthly out goings and see where you can save—calculate down to the last dollar/cent… and try to hit the target set
you need to cut back on you outgoings… like going clubing on the weekend… this is not for a week /month but can be for longer so you need to perservere or the bankrupcy would not be a choice but unaviodable….and that would effect your future credit as you are only 27 yet to buy a house etc…
References :

Since last 5 years ago the first time I moved to this country I started apply my first credit card with US Bank, I’ve been living so happy with it, I thought it was cool when using credit card, I spent money like a rich kid, and I got a really good credit, then I applied for any other cards from one bank to other banks till I ended up with 5 different credit cards. Then 3 years gone by I couldn’t handle these credit cards, I ran out of control and ended up with a balance of 22K at the age 27 years old now, so still there is a long way to go, if I am keep paying the minimum payment like this I will end up paying those creditors for my whole life. I did try credit card consolidation but it just reduced my interest rate Now at this time I decided to go with debt settlement company in order to get rip of this debt and start a new life, but of cause it gonna take me couple years to settle this 22K debt. Now I m paying the settlement company $430/month for 28 months to settle my debt.

So first of all please ignore my grammars I know you understand what I am talking about, but I am seeking for advise from you guys out there:

1. I can possibly maintain my monthly payment of $500 to $800 toward my debt, so is there any alternative way beside debt settlement and bankruptcy to get rip of this debt? now my credit score gone so bad and there is one collection on my credit already, and soon there will be more as I am enrolling in this debt settlement.

2. I start looking at peer to peer loan and sound like an other option for me as long as I have a co-borrow with a good credit, but I am kind of hesitated and not sure how legitimated it is. Can anyone advise me if I should go with it?

I am making 90K from my job but I am still living in this horrible life because of my debt. This is a really bad experience that I am currently having in my life and I hope everyone who read this post will learn from what my mistake was, and won’t go on the same path as me.
Yes I will looking into my daily living expense and hope I will cut some of them. Originally, it was 35K on my balance but then I tried to sell most of my asset (Stock, I don’t have a house) and brought it down to 22K. So at this moment of 22K debt I have nothing beside my monthly salary. I am so upset when I see most of my friends now they bought houses even they make less money than me, I was really poor in my money management.