If you were in debt WAY over your head...

[smellowman]

... what would you do?

Short of taking your own life or declaring bankruptcy, what options are there?
Obviously begging for that money from people or doing something illegal isn't really an option.
Consolidation loan didn't help much.
Borrowing more on credit cards or lines of credit is stupid.
Don't have a car or home or anything of substantial value to put down or sell towards the debt.

Anyone have some sound advice (or funds to spare, lol)?
You can reply here (without being rude or crass as I know we can be sometimes) or PM if you prefer.

Thanks.

 

[man77777]

Well... If I were in debt way over my head, I would directly connect on an escort review website to ask if someone have any advice...

 

[smellowman]

So much for me asking people not to be rude. I suppose I should have written stupid as well.

I've been a MERB member for many years and I thought that some people here could offer advice.
So I'm not just posting out of the blue....
I shouldn't even have to justify....

 

[Trenus]

Well... If I were in debt way over my head, I would directly connect on an escort review website to ask if someone have any advice...

Your advice Man77777 is most helpful -) I thought the Lounge was a Free-for-All where anybody can ask what they want.

My serious advice Swellowman is to consult the federal government. I heard a while ago, maybe a couple of months ago, of some federal program that helps persons who have a lot of debt. I don't know the name of the program, since I quickly heard it on the radio. The program is apparently designed to help people who are in serious debts.

Good Luck!

 

[smellowman]

@Trenus - sounds like a good idea. I will investigate.
Thank you for the good and useful thoughts,

 

[Max15411]

This is one step shy of bankruptcy. It is called a Consumer proposal or personal proposal on some sites.
http://www.bankruptcy-canada.ca/consumer-proposals/what-is-a-consumer-proposal.htm

It is not as drastic as filing for bankruptcy but still messes up your credit rating. For example, if you have a debt of 75K, the agency you pick will "deal" with all the creditors and buy your debt for X$. They will then add a percentage to that and charge you per month at no interest until you pay it off. My friend did it and his 80K debt came down to almost 20K in total which he had to pay of over 5 years.

 

[man77777]

So much for me asking people not to be rude. I suppose I should have written stupid as well.

My answer had a sense, it seems you didn't understand it, so i'm gonna explain myself.

Don't expect a serious and really helpful answer for such a big problem in an escort review website, come on...

As you did't understand the sense of my irony in my first post (oups yes, sometimes I forget we are in America), here is the meaning of the advice I gave you : don't lose your time here, your time is precious, you have to act right now. See some professionals, they will give you the good advices, don't listen to anybody's advice who is not a professionnal.

Good luck.

 

[Mod 11]

Man777, I already saw a sound advice by Tenus, confirmed by Max. Pretty cool for a site where you can't get good advice on anything except where to channel your sex drive, no?

 

[man77777]

Man777, I already saw a sound advice by Tenus, confirmed by Max. Pretty cool for a site where you can't get good advice on anything except where to channel your sex drive, no?

They gave him the same advice I did, but in a different way : don't lose your time here* and see a professional...

*moreover this hobby is maybe one of the reason of his debts

 

[man77777]

You would be fuckin surprised what I do for a living.

You would be fkg surprised too...

If you ask here, you can have good advices from professionals... Sure... But you just can't check if the guys here really are... So he'd win some times by directly calling a 100% sure profesionnal... And in his situation, he can't lose any seconds... That's why my advice was to leave this forum and call immediatly a professional... Serious problems = serious solutions.

 

[man77777]

I'm one of the best expert of the city about debts and bankruptcy, koya, but I'm fkg too expensive for him right now ! :wave:

More seriously, I don't want to tell what I do in such a forum... There must be like 100 guys who do what I do in Montréal, and there must be like 5guys who do what I do here and in Europe, moreover my username give an advice about my first name...

 

[IamNY]

What type of debt are we talking about? If this is simply overextending yourself by using credit cards or bank loans just file for bankruptcy. If this is about owing somebody for gambling debts or drugs, this would be an entirely different conversation.

 

[Mod 11]

Please guys, on topic.

Opinions on MERB are just that: opinions. Nobody except a fool would take what's on an anonymous board, might it be an escort board or a stamp collector board, as the absolute truth.
What can be found on these boards are possible path to follow, some excellent, some plain stupid. Up to Smellow to gather the info and weed-out what he think fits his needs.

Once more, please guys, back on topic.

Thanks

 

[man77777]

Nobody except a fool would take what's on an anonymous board, might it be an escort board or a stamp collector board, as the absolute truth.

So true...

 

[smellowman]

I had no idea a simple question would turn into this kind of mess.... or rather, I should have known.
Anyways, I have my reasons for being in this predicament and most are not my fault.
I've been unfortunate in having some medical problems which have limited my ability to work.
As such, was relying on welfare for a while till I finally got work (didn't work for nearly 2.5 years).
As welfare pays very little, I was forced to use all forms of credit available to me just to live.
So it's not drugs or hobbying or such that got me into this situation but rather trying to survive.
The job that I had found late last year, let me go due to budget cuts so I find myself unemployed again.
My medical condition still exists and doesn't allow me to pursue the career I had before.
So in a nutshell, without too much detail, this is why I'm in this situation.
Just trying to figure out if there's a way to pick up $20k fairly quickly. That would at least start to get me out of my predicament without having to go bankrupt.

I appreciate so far those who have contributed advice to this thread. Though nothing said here will be taken as fact or the only answer to the problem, it's good to have input from a variety of people with different thought processes.

 

[Addison]

You say no bankrupt, begging, loan or illegal stuff. then you leave only one choice. A slow, long process of paying off your debt.

 

[smellowman]

Very well... then how about illegal, lol... Don't want to beg but if I were to, wouldn't know to whom...
Maybe some generous lawyer or doctor or such who happens to be a Merbite? lol....
Seriously, if I drove, I would consider being an escort driver.
If I were bi or gay(and a bit better looking), I would massage or escort.
So really, not sure what to do.

 

[ManApart]

I agree with posters who mentioned consulting a trustee regarding looking into a consumer proposal, if you have some kind of decent income, or if not, bankruptcy.

It really isn't the end of the world and neither is 20K debt. Your credit will be blackened for a period of years, but it's not like that would matter much to you now anyway. I don't think you are out looking to get a car or house at the moment.

It seems like being in the situation you are in (unemployed), you will just dig yourself a bigger hole. Get some relief and start fresh. Hopefully, during the time you are dealing with this, you are able to pick up some gainful employment again.

Don't worry about it, things could be worse and it only will take a few moves to get back on track. That being, an arrangement with a trustee and employment.

 

[smellowman]

@ManApart - Actually my debt is considerably higher than what I mentioned but that $20k was a good starting point.
You're right though; there has been some good advice and probably going to go with a trustee and hope for employment (though in fairness took me a long time to find the last job and now been unemployed for nearly 4 months. It's really tough on the job market).

Also, this is one of the reasons I have an ad up in the buy/ sell section here.
Trying to sell stuff to help make ends meet...

 

[evillethings]

if youre not tied down to anything (ie family, kids, etc.), you might consider relocating and looking for a totally fresh start. of course you might want to just send off a few registered letters explaining your situation to creditors and that one day you'll repay.

so that's your nice-guy-not-very-legal solution.
ditch the debt and move on to another country.
$20K is a big debt load and sometimes good guys just need a fresh start.
you'd be surprised what a fresh start can do for someone.

... just don't go to Spain or Greece!