By Dan Samaria
Publisher/GCC
Nov. 13, 2009

Editor’s Note: There are many sites that can help you with dealing with debt. This site we use weekly with advice it called The Ask Doctor Debt.

They have answers to many frequently asked questions regarding debt and credit problems.

This week we will be giving you some FAQ that have been sent to their site. We hope that this will help you, in dealing with debt.

If you have any questions, you can reach us dan@goldcoastchronicle.com

 

(Q) We have recently lost my husband’s income. He qualifies for Social Security. However, until he registers for Social Security and begins receiving payments, we find ourselves stretched too thin. We would like to protect our credit rating. Is there any way we can legitimately and effectively re-negotiate our credit card obligations, car loan and mortgage to help us get through this tough time?

 

(A) You should contact your credit card companies and any other creditors immediately. Explain the situation to them before you miss payments or start making late payments. They may be able to work out a payment arrangement with you so you can stay current on your obligations. You can also contact your financial institution to discuss available options for consolidating your debts into one payment.

Source: Ask Doctor Debt