Have you tried to rearrange your budget so you can pay off money you owe, but it wasn’t enough? You probably have too much debt. It’s time to find a solution and put an end to the pressure.
There are several possible solutions when you owe too much money. Depending on your personal situation, you can take some of these steps:
Try to negotiate an agreement with the people you owe money to change...
Your bank, car dealer, future landlord: all these people and businesses can ask you for permission to see your credit report. Why? To see whether you pay your bills on time.
Content of Credit Reports and How Long They Last
A "credit report" is a document with various information about your financial situation. It identifies you, says what money you owe and says whether you pay your debts.
Does your spouse or former spouse want to declare personal bankruptcy? Are you afraid of the impact that might have on you? Here are a few situations that might concern you.
You might have joint debts with your spouse or even with your former spouse, such as
unpaid amounts on credit cards,
lines of credit, or
loans with a financial institution that you signed together.