Feeling overwhelmed with debt is a terrible space to be in and difficult to alleviate. Begin with only paying the basics, which are your costs for housing, utilities, insurance of all types, and food. Other bills such as credit cards, loans, childcare can often be negotiated before you get into arrears. When large debts exist, negotiate what you can pay prior to going into default. At times, the debt collector my want something in return especially if you let them you you are considering bankruptcy. In the case of bankruptcy, the debt collector may not get all or anything at all. Be as transparent as you can when discussing your debt. Never agree to pay an amount you cannot pay. If you do not prefer bankruptcy, agree to pay smaller amounts at regular intervals even if it is a small as $5, 10, 0r $20. Debt collectors are more pleased to receive a small payment than none at all. When you receive your income tax return, then you can pay off some of the smaller debt you may have.
https://finance.yahoo.com/news/fix-finances-m-overwhelmed-debt-dont-know-180651587.html
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel United Methodist Church (UMC) in Montross, VA. Rev. Dr. Taylor promotes best practices by teaching financial literacy workshops and currently serves as Finance Chair in the Rappahannock River District for the UMC. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.