HELP! Need financial advice.

[melissat]

I know several people who have used Dave Ramsey's plan to get out of debt. I know he has a radio show, but I think he also has a website. He advocates getting totally debt free (no car payment or anything).
Melissa

 

[angie_nrs]

Dave runs a column in my weekly paper. His site is www.davesays.org

Also, check out www.suzeorman.com and click on the resource center tab and you'll find several topics to choose from. All good stuff!

Hope this helps

Angie

 

[JenL13]

LauraMax

I agree with you 100%. The only reason I would say keep the credit card debt instead of a home equity loan/line of credit is if the person doesn't intend on changing their habits & going into BK. Then yeah, don't borrow more against your house. If you are really serious about changing your lifestyle though taking debt that you are paying higher interest on & putting it into a HELOAN or HELOC which will most likely have a lower interest rate and is tax deductible is a smart thing to do.

I guess to each his own but I would much rather pay interest on a home equity loan than a credit card!!

 

[dlavie]

Most American families are 2 paychecks from bankruptcy. Take a downsize, a family emergency and now you're knocking at the door.

In our case it was a long term medical issue. I was keeping the house no matter what.

If you had to look at the repercussions of bankruptcy, you'd understand. It wasn't vacations or the "high life" that put us at the "edge".

The medical issue wasn't going to go away because I changed my habits.