Then, a cash out refinance loan may be best for you. Of course, best way to tell is to actually sit down and do math. These are just guidelines; real test is in math. You can consult a refinance calculator and a home equity loan calculator and figure out which one will save you most money in long run. Compare total amounts you will spend in interest and fees. If you are planning on a cash out refinance, make sure that you are refinancing with a low enough rate to justify fees to refinance. Your loan specialist should be able to help you figure out which one is best for your needs.

For a list of recommended Refinance Lenders or if you would like to use a mortgage calculator to help you compare a home equity or refinance loan for your cash needs, click here: www.abcloanguide.com/refinance.shtml

Many experts advise that if you need a new car to get it before you apply for bankruptcy and keep your payments up. You’ll have a lower interest rate and will be on your way to re-establishing credit.

You might only qualify for a secured credit card at first. You will have to make a deposit of several hundred dollars with a bank, which will then grant you a line of credit in same amount. If you handle this card correctly, card will be converted into a regular unsecured card in a year or so. Make sure lender is making periodic reports about your good behavior to credit bureaus.

Don’t use more than 20 – 25% of your available credit, even if it’s only $500. Pay your bills on time. If you act responsibly, in a few years you will be able to loans and mortgages at rates only slightly higher than prime borrowers get.

If you need to rent an apartment, you might have more difficulty. Landlords who check your credit report might not rent to you at all. Your auto insurance premium will likely rise and you might have difficulty getting a new job. These are some of downsides of going bankrupt.

Everything is not all brightness and light, but few sacrifices you will face might be worth removal of emotional and financial pain you are suffering every day you struggle with a load of unpayable debt.