Bills.com Suggests Debt Options Whether Credit Is Good or Bad
It’s the best of times, and it can be the worst of times, when it comes to looking at consumer debt, says Bills.com co-founder and co-CEO Brad Stroh, who this week provided a host of options for consumers with any credit rating to cope with debt.
Following are suggestions for managing debt — whether with good or bad credit — follow.
If credit is bad:
Those who are behind on payments, have creditors calling or have given up hope of repaying debts probably realize that their credit rating is likely low and falling. Here are some options that might help:
1. Take a title loan on a vehicle.
2. Borrow from a 401(k) or other employer-sponsored retirement account.
3. Borrow from family or friends
4. Negotiate.
5. Get debt resolution help.
6. Consult a debt consolidation service.
7. File bankruptcy.
If credit is good:
Those who know they are in too deep, but haven’t started hearing from creditors and are able to make at least minimum payments on debt, have a few additional options:
1. Consolidate via credit cards.
2. Take out a personal or signature loan.
3. Borrow against a home.
For more information, visit bills.com