You are not alone if you are overwhelmed by bills and credit repair. If you are falling apart from the stress of having too much to pay for and not having enough to pay with, there are a few guidelines you should follow. First, look at all your expenses. Are there any monthly bills that you can lower? If you have a car loan, could you refinance and ask for a lower monthly installment plan? This may mean a longer payment scheme, so you will have to weigh the costs.
Utility bills can also be worked on. Do not leave your appliances on standby mode. Using the remote control to turn off your appliances just puts it on standby mode. This means that the appliance is not off, and it is still consuming power. You can also check your cable and phone bills and see if you can lock some features that you hardly use to lower your monthly fee. Ask your utility provider for special savings promotions like low-income family discounts or Senior Citizens Discounts. Telephone and cable providers often give you leeway on late payments without charging interest, so if you are short, schedule these bills last.
If you have some bills that are just too high for your budget, why not consider selling them off, paying off the loan, and buying something that will fit into your monthly budget? For example, you could try selling your car at a higher price than what you need to pay off your loan. The extra money will give you some breathing space.
The biggest issue with having to deal with credit repair is pride. It is hard to face the fact that you cannot just buy what you want anymore, or face anyone without cringing when the conversation turns to loans. It is hard to hold your head up high when you are bogged down with creditors breathing down your neck.
You need to accept that you have a problem. Then, research on the best solution for you. For some, it may mean finding a low interest loan with low monthly payments to pay off the high interest loans. For others, they would rather sell off some items to pay off their loans. Still, others would rather get a loan and put up collateral in case they fail to meet the payments.
Whatever decision you make, be sure to read the fine print. If you do get that loan, make sure you use it to pay off other loans and avoid the temptation of spending it on something that is not on the agenda thus, adding more to your debt portfolio.