Credit Card Debt

[Anonymous]

Are we not allowed to say it here... What about credit counseling? They get your interest rates lowered and more of your payments go to principal. Your credit takes a ding for awhile but way less than bankruptcy and maybe in this case this would be a benefit... They make you close all your cards except one.

[paturner]

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@Anonymous wrote:

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@paturner wrote:

 I do have a descent take home income just don't want to spend all on credit card payments.

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Then don't expect to get out of debt. I don't know what you expected us to tell you, guy.

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First of all  I'm a female and I don't expect YOU to tell me anything. I thought this was a place to come and get some good advice. Doesn't sound like you have any.

[mikey78]

whatever your debt maybe, IMO just pay off the card with the highest interest and pay minimal on the others

Chip in any extra $$ you can 

Or sacrafice a HP and get a card for BT transfers 

[Anonymous]

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@paturner wrote:

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@Anonymous wrote:

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@paturner wrote:

 I do have a descent take home income just don't want to spend all on credit card payments.

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Then don't expect to get out of debt. I don't know what you expected us to tell you, guy.

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First of all  I'm a female and I don't expect YOU to tell me anything. I thought this was a place to come and get some good advice. Doesn't sound like you have any.

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The only advice that's really reasonable here is to cut back on other leisure activities and dedicate more income to paying off your Credit cards.

If you don't want to do this, then like i said. Don't expect to get out of debt.

Madam.

[1GaDawg85]

You can make it out of this. Pay off the small cards....then SD it 

[paturner]

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@Anonymous wrote:

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@paturner wrote:

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@Anonymous wrote:

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@paturner wrote:

 I do have a descent take home income just don't want to spend all on credit card payments.

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Then don't expect to get out of debt. I don't know what you expected us to tell you, guy.

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First of all  I'm a female and I don't expect YOU to tell me anything. I thought this was a place to come and get some good advice. Doesn't sound like you have any.

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The only advice that's really reasonable here is to cut back on other leisure activities and dedicate more income to paying off your Credit cards.

If you don't want to do this, then like i said. Don't expect to get out of debt.

Madam.

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And like I SAID I don't want YOU to tell mean anything 

[Anonymous]

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@1GaDawg85 wrote:

You can make it out of this. Pay off the small cards....then SD it 

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Sound advice. If the OP wanted it in the first place.

[Anonymous]

Sorry to say but this is the outcome of unnessecary app sprees. I'm truly sorry to hear this has happened to you. The smartest thing is to dedicate your second job just to this debt  20k is manageable and I've seen worst but you WILL get out of it. Just put your mind to it. And to the guy who said bankruptcy is the only option.. you're a dumba**.

[codimom]

I'm going to start out by giving you a little information about me.  The phrase that fits is, been there, done that, got the tshirt - but i sold it go get out of debt.  I am a single mother of 2 children. i was not (and honestly I'm still not) receiving the child support  due, and yes i got more than my share of the bills out of the marriage.  I have a very good, well paying job, but it wasn't enough to keep up with the amazing amount of money, interest etc i owed to others.  So the advise I share is is from my real world.  (I too had declared a bk in my youth, and i regret it now, simpy because now I know what to do to avoid that.

Now, you have a really good amount of debt.  By listing everything you owe, that is a great first step.  I agree with another poster, knowing how much you have in fixed expenses (rent/mortgage, car pmt, insurance etc) and knowing your take home will help us help you with a payment plan.   Yes, we all feel like we don't WANT to spend all of our take home pay on credit card debt...but here is another way to look at it... you have already spent that money once.  

So, tough love time... what are your priorities?  More 'things'?  keeping up with the joneses?  or getting your finances in order so that  you can sleep better and then appreciate the things you can buy without the stress or pressure to repay at a higher rate?  Make a list of your needs and another list of your wants.  Go over that again and again until you are really sure of the difference.    Make a plan... and stick to it.  Best case to get out of debt?  cut everything that is not an absolute necessity... meaning the daily trips to starbucks (my downfall... once i realized how much i spent a month it was an real eye opener....)or the expensive cable package,  eat at home, pack your lunch... you see where I'm heading.  Shelter, food, utilities, insurance...those come first.  

Or... take your list of credit cards, add your monthly expenses to that and find the grand total of expenditures.  Then take your paycheck/s and 'spend' it on your list.  see what you have left.  From that balance... see what you can add to the payment of your lowest balance.  Anything you can just pay off? do it, and roll that minimum payment onto the next victim on your list.  yes, give yourself a small allowance each month, but stick to it.  Stop using your cards.  Then once you get this debt gone, choose 1 or 2 of your multi purpose cards and use them for their rewards, but pay them off.  Do not give your money away in interest payments.

and yes, I rebuilt my credit from an embarrasing low of about 540 to a respectable over 700 score ...after everything was paid off.  I bought my children cars with cash.  I currently hold 1 mortgage, and 1 car note... and yes i am one of the ones here that pays my cards in full every month.  This success took time... but it was worth it to me.

I wish you luck.  You can do this without involving the courts or lawyer fees... you just have to be dedicated to your plan... like I've heard many times failing to plan is planning to fail.

[Anonymous]

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@codimom wrote:

I'm going to start out by giving you a little information about me.  The phrase that fits is, been there, done that, got the tshirt - but i sold it go get out of debt.  I am a single mother of 2 children. i was not (and honestly I'm still not) receiving the child support  due, and yes i got more than my share of the bills out of the marriage.  I have a very good, well paying job, but it wasn't enough to keep up with the amazing amount of money, interest etc i owed to others.  So the advise I share is is from my real world.  (I too had declared a bk in my youth, and i regret it now, simpy because now I know what to do to avoid that.

Now, you have a really good amount of debt.  By listing everything you owe, that is a great first step.  I agree with another poster, knowing how much you have in fixed expenses (rent/mortgage, car pmt, insurance etc) and knowing your take home will help us help you with a payment plan.   Yes, we all feel like we don't WANT to spend all of our take home pay on credit card debt...but here is another way to look at it... you have already spent that money once.  

So, tough love time... what are your priorities?  More 'things'?  keeping up with the joneses?  or getting your finances in order so that  you can sleep better and then appreciate the things you can buy without the stress or pressure to repay at a higher rate?  Make a list of your needs and another list of your wants.  Go over that again and again until you are really sure of the difference.    Make a plan... and stick to it.  Best case to get out of debt?  cut everything that is not an absolute necessity... meaning the daily trips to starbucks (my downfall... once i realized how much i spent a month it was an real eye opener....)or the expensive cable package,  eat at home, pack your lunch... you see where I'm heading.  Shelter, food, utilities, insurance...those come first.  

Or... take your list of credit cards, add your monthly expenses to that and find the grand total of expenditures.  Then take your paycheck/s and 'spend' it on your list.  see what you have left.  From that balance... see what you can add to the payment of your lowest balance.  Anything you can just pay off? do it, and roll that minimum payment onto the next victim on your list.  yes, give yourself a small allowance each month, but stick to it.  Stop using your cards.  Then once you get this debt gone, choose 1 or 2 of your multi purpose cards and use them for their rewards, but pay them off.  Do not give your money away in interest payments.

and yes, I rebuilt my credit from an embarrasing low of about 540 to a respectable over 700 score ...after everything was paid off.  I bought my children cars with cash.  I currently hold 1 mortgage, and 1 car note... and yes i am one of the ones here that pays my cards in full every month.  This success took time... but it was worth it to me.

I wish you luck.  You can do this without involving the courts or lawyer fees... you just have to be dedicated to your plan... like I've heard many times failing to plan is planning to fail.

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This couldn't have been worded better. To the OP, this is just about what i meant to say. I'm just not that eloquent. Take this poster's words to heart, They mean well.