Serious enquiry: Debt forgiveness

[awaraa]

2 hours ago, Wrangler said:

Hi friends

Single income guy here, 100k-120k loans plus credit cards. Unable to pay monthly payments. Suggest options please. How to come out of this? Asking friends for money and managing to pay monthly instalments but I’m now debt deep. 

bro message chesa chudu

[HugoStrange]

debt snowball method works better than any other, at the same time high interest loans refinance chepinchuko. Like India lo loans unte, bank lo nee home petti refinance chesthe 7 to 8% interest rate vasthundi instead of 24 to 36%. But at the same time stick to debt snowball method. Neku nidra pattadam ledu ante you are ready to clear them off and make sacrifices. 

[argadorn]

4 minutes ago, Ravi860 said:

Smart enti bro.. andulo emundi. We don’t know the actual situation and things he going through. 

100 k appu unna vadu gc vachinavadu evaru tension padaru we all came across with that situation 

example he has house 500k konnadu anuko he didn’t pay whole amount right in the beginning 100 k katti untadu recession vachi 500 k value 300k avuthay barinchali 500k ki kattali appudu andhari situation adey ga so bottomline enti antay 100k is not too much for a guy who was staying for 12 plus years ela  eggotali ani direct ga adagali nidra pattadam ledhu enti man 100k ki 

[phatposts]

take small steps and more importantly be calm. this is not the end all of everything. 
high interest vi first pay cheyyi. 

debt consolidation ki velta ante vellu - but next 7y neeku loans avemi raavu choosuko. 
personally 100k kosam debt consolidation ki akkarledu ani naa feeling, but i can manage 30-40 credit cards like a champ without paying a single penny interest. thats my thing anthe. 

first income, expenses part figure out. 

start by clearing high interest debts first. 

parallel gaa ekkadain interest kattadam aapachu, principal tagginchachu ilanti options unte - pursue them.

once that is tackled in a meaningful way, you should consider more income options - eith er a better job, 2nd job something like that. 

Okka saari ee kachara antha clean chesav anuko - neeku confidence next level lo ki veltundi. It may make you humble and gives you better perspective for hard work. 

good luck

 

 

[Wrangler]

1 hour ago, argadorn said:

100 k appu unna vadu gc vachinavadu evaru tension padaru we all came across with that situation 

example he has house 500k konnadu anuko he didn’t pay whole amount right in the beginning 100 k katti untadu recession vachi 500 k value 300k avuthay barinchali 500k ki kattali appudu andhari situation adey ga so bottomline enti antay 100k is not too much for a guy who was staying for 12 plus years ela  eggotali ani direct ga adagali nidra pattadam ledhu enti man 100k ki 

Bro Nen asalu eppudu credit cards vade vadini kadu I used to use only debit but alantidi I got ended up like this. So Naku 100k is ekkuve. Naku egottali ani ledu just seeing options. 

[dkchinnari]

7 minutes ago, Wrangler said:

Bro Nen asalu eppudu credit cards vade vadini kadu I used to use only debit but alantidi I got ended up like this. So Naku 100k is ekkuve. Naku egottali ani ledu just seeing options. 

how much u r saving in last 3-5 months montlhy... just after family expenses

[Wrangler]

8 minutes ago, dkchinnari said:

how much u r saving in last 3-5 months montlhy... just after family expenses

0 savings. Paying mortgage utilities and car emi. I even took loans to run family so antha penta penta ayindi. I even did mortgage refinance and used that money to pay debts. 

[Wrangler]

1 hour ago, awaraa said:

bro message chesa chudu

Replied to your message. 

[hunkyfunky2]

3 hours ago, Wrangler said:

Thanks brother. I will look into working part time. I’m not remote I have to go to office. I know it’s a long way but vachina pay motham appulake pothundi

You can get help by calling and asking to defer payments or consolidate... Don't go to loan sharks , there are few non profit organizations who help. 

It's difficult, but try working Uber or Lyft in the way back in the evening or weekend's. 

You can easily earn 2 to 3k per month .. which city you are in ? 

There are lots of strategies to maximize Uber revenue or Uber eats deliveries... Google or search for YouTube first. 

[Vaampire]

I wouldnt normally advice this.

gc undi kada. Rendu udyogalu cheyyi. Rendava undyogam easy ga dorakakapothey kaali time lo uber nadupu. 
 

 

[Vaampire]

32 minutes ago, Wrangler said:

0 savings. Paying mortgage utilities and car emi. I even took loans to run family so antha penta penta ayindi. I even did mortgage refinance and used that money to pay debts. 

If ur home price is more than the mortgage, try to sell ur home and see if u can clear the loans.

 

where did u loose the money in first place?

[D.V.S.KARNA]

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[D.V.S.KARNA]

1 minute ago, D.V.S.KARNA said:

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[Thokkalee]

Get a better paying job.. prepare for a month or two.. get a job in faang or some company like that.. or work two jobs.. but that will be very stressful.. 

first and foremost, you have to explain the situation to your family.. they have to be on your side and support you.. every family goes through tough situations and if they don’t support each other, the pressure falls on the head of the family.. look at ways to cut down your costs even if it means moving to a smaller house or to a new place.. 

100k ee rojullo pedda amount kadu bro.. 2-4 years lo clear cheyyochhu.. 

[JuneDillon]

I had a similar situation a few years ago with around $90k in loans and credit card debt. It felt like I was drowning and couldn’t see a way out.One thing that helped me was contacting a credit counseling service. They helped me consolidate my debts and work out a more manageable payment plan. It might be worth looking into for you. Also, some lenders offer hardship programs that can temporarily reduce your payments.If things get really tough, talking to an Arkansas bankruptcy lawyer could be a good move. A friend of mine did that and it really helped him understand his options and make a plan. He was able to restructure his debt and it took a lot of pressure off.