Question for the Money Doctors

Question submitted on Dec 9, 2011.

Question

I AM A SINGLE MOTHER AND I DO RECEIVE CHILD SUPPORT BUT HAVE HAD MANY CHALLENGES I AM NOW HAVING MY WAGES GARNISHED AND I CAN''T AFFORD TO TAKE CARE OF MY HOUSEHOLD AND OTHER BILLS AND MY CREDIT IS VERY LOW WHAT CAN I DO TO TRY AND REBUILD MY CREDIT

Answer

If wages are being garnished to collect back taxes, you may try working out a more friendly payment arrangement with the appropriate government agency. Then, get some professional help establishing a monthly spending plan. You may be able to find some organizations in your area sponsoring free budget workshops early in 2012. Your new budget should incorporate a plan for paying off your existing debt which will help you to begin rebuilding your credit.

For additional information visit http://www.360financialliteracy.org/