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Browse credit cards from a variety of issuers to see if there's a better card for you.
A. Call the creditors, explain and ask for help.
B. Join a Debt Management Program. It's usually a five-year plan and they are usually able to greatly reduce your interest, lose the over-the-limit and late fees. You cards will be closed during that pay off period. You pay them direct for a small monthly fee and they send the creditors the money. It's your responsibility to review each credit card statement to make sure the payments are being posted properly
C. The company I used I can highly recommend. Send me a PM if you are interested. I've sent several people there and they've been treated well.
D. Pick up a part-time job to help make the minimums. Return everything you can and sell the rest on eBay (as long as it's tangible). Craigslist is another forum.
E. Review the bankruptcy forum here.
F. You can stop paying all together and get hounded and harassed.
G. Take out a consolidation loan and cut up your cards or cancel them.
Once you begin the rebuild process you'll feel so much better and your sleep pattern miraculously improves. We're here to help!!!!!!
Please post your cards with credit lines, what you owe and if you're late, etc. if you want us to take a look at what you have.
Unfortunately i owe a lot
Auto Loan 16300
Card #1 8838 card limit 8600 I am already on a dmp with the card company (30 days late) nov 08
Card #2 3813 card limit 3600 (30, 60 days late ) nov 08
charge account 3128 charge limit 4000
Card #3 2848 card limt 3000
student loan 1414
Card #4 776 card limit 700 (30 days late) nov 08
Time to begin rebuilding as all is not lost.
You're at approx 102% utilization, your score is taking a HUGE hit because of this.
If the $700 limit card hasn't been CLOSED, get it current because you're going to need to keep an emergency card. Get it CURRENT and find a way to get it paid down so you will have some room.
Put the $8838, 3813, 2848 into the DMP. I've sent you the information via PM. Your monthly payment s/b approx $325 per month.
Right now your lates & o/l fees are costing you an extra $230+ PER MONTH. I would (and I did) call each creditor and explain that you are SERIOUS about getting this paid off and are entering into a DMP. Call the contact I gave you immediately. This will all happen pretty fast for you.
I don't know what to tell you about the student loan or the auto payment...are they current???
Kudos to both fish and HTSU.
These are all excellent points.
Definitely take advantage of this wise information so you can be on your way to a happier and prosperous life.
Good sleeping is amazing BTW.
As mentioned earlier, cut back on eating out. During my time of getting myself under control, I ate cereal in the morning and 1 - $1.50 soup at night (do you know how quick you get sick of soup?), if you're serious you'll do just about anything. You didn't mention if you have kids to support and if you do by no means put them on my bill paying diet!
Best of luck to you getting back under control. One thing about all of this is hopefully you've learned your lesson, as I did, and will never be in this soup again (no pun intended).
One thing I did after making my list was to put each and who was being paid on a calendar (the more visuals you have the better).