How to Keep Afloat in a Sea of Debt?
If you are having trouble making ends meet, there are options for you to look into to get back on track.
You might have assets you are not aware of, or you might have a situation you can make good on. Let us try to work with
you in getting some ideas on how to cope and find what you need. You might be faced with defaulting on a
payment of some type and need to deal with getting caught up.
Are you involved in a lawsuit and are waiting for it to settle or for the funds to come in? There is advance
funding available to help you get by - if your case looks good for you to win, you may be able to get some
portion of the amount that you are expecting. If it's not yet settled, it will usually be up to 10% of what the
award looks to be. If it's settled and you are waiting for the payment, you can ask for close to the net
amount you are to receive. Make sure your financial situation can wait for the funds to come in and will support the
fees - it should be advanced as a "last resort" to get you over a financial "hump" so that you can get back on track.
You might have a "note" or annuity that you get paid on, or are waiting for a future payment on - often you can
try to sell it or a portion of it for a price that will get you some cash you need. There are options
here.
You might have some inventory of goods you thought you could sell off, but perhaps now feel as if you are
"stuck" with them. You might have some possessions you can sell that you are able to part with or haven't known
what to do with. You can try to sell these things at a garage sale or flea market, auctions, in the
newspaper, at eBay, to companies that specialize in buying
excess inventory. You should compare other "like" items to
see if your items will bring in what you feel they are worth. It might be that your perceived worth is more than what the market
will pay and you need a dose of reality to figure that out. It may be that you see your items are more valuable to the buying
public and perhaps you can ask more for them. Compare auctions, advertising, resale pricing, and clearance outlets to find a
fair value for your items. Then you'll know if you can get the best value for what you are trying to sell. Look around - perhaps
your mother gave you a brooch that could be worth a lot (you might want it assesssed at a jeweler). If you can part with it,
it might bring in extra cash. If you have thousands of CDs or DVDs or even VCR tapes, and know you don't care for some, or
you won't have time to watch or listen to all of them, sell some off. If you have extra clothes then sell of the ones
that still can be worn by someone - or if you have gadgets you never use (like the electric yogurt maker you once bought) - sell
them off. Make a "basket" of some things that can be sold as a unit - like a basket of baby clothes plus toys, or perhaps you have a
coffee grinder and you should get a bag of gourmet coffee to go with it for added value. Get creative and present your
items attractively, and they should sell better.
You might just call your credit card companies or mortgage company, or the IRS to try to set up a new payment schedule - you might be able to talk them
down to a payment schedule you can handle. Or even work out a "settlement" where you can pay off a fraction of the
amount that you owe. Call them up and try to work it out - don't just ignore them or avoid them. It's worse when a collection agency
comes after you. They aren't as inclined to work with you in many cases. Even a mortgage company might be able to give you some
leeway with payments if you approach them before they approach you.
No matter what your situation is, there can be help for you. You just need to creatively think out solutions so that you
can get by in some way. Look around - you usually have some assets you can let go of. If you are in a large home - sell it and move to a
smaller home so you need not go through foreclosure or anything. Get your situation taken care of before it comes back to
haunt you.
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Paulina Roe is an ethical funding agent, making sure
clients are funded as fast as possible, at as low a rate
as possible. More information can be found at
http://www.advancelawsuitfunding.com or call (888)414-4260
