okay, so going back. As I mentioned I have 5 CC's. so here go's
1st financial bank 1800/1900 19.99%
BoA 492/50016.99%
Chase 800/900 0% thru this april,
U.S. Bank 1920/2000 20.99%
ENT 4800/5000 11.95% 
So thats where that is i didnt use exact amounts cuz i dont have time to go check all of them but from paying them at this month this is pretty close. and ive been paying 100 a month each, but as i said it just doesnt go anywhere.. so I guess still looking for answers, hope this info helps
Edited formatting to make it easier to read. -Peas
micha3l wrote:okay, so going back. As I mentioned I have 5 CC's. so here go's
1st financial bank 1800/1900 19.99%
BoA 492/50016.99%
Chase 800/900 0% thru this april,
U.S. Bank 1920/2000 20.99%
ENT 4800/5000 11.95%
So thats where that is i didnt use exact amounts cuz i dont have time to go check all of them but from paying them at this month this is pretty close. and ive been paying 100 a month each, but as i said it just doesnt go anywhere.. so I guess still looking for answers, hope this info helps
Edited formatting to make it easier to read. -Peas
Mike, initially, I'd say cut back to minimums on all cards but the BofA, and throw as much as you can at that BofA $492, get that paid off first. If you can scrape up enough extra somehow to pay it off in one shot right away, that'd be a good boost for you in more ways than one.
Getting that card paid off would free up an additional hundred per month for you. After that, do whichever version of the "snowball' approach you think would work best for you, either targeting the cards in order of highest interest rates or smallest balances, and paying the minimums on all cards except one, putting as much cash as possible on that one card until its paid off, then rolling that freed-up money into payment on the next card, and so on.
Definitely cut back anywhere you can on expenses; you might have to live without a few things temporarily, but bagging your lunch and living without cable for a while is better than having things go to collections and/or filing bankruptcy.
Can you cut back anywhere?
Can you get a second job?
@Anonymous wrote:
this last year I purchased a lot of stuff. Not thinking about the repercussions of my actions. Now I'm about 10k deep in CC debts and it seems that ever payment I make is only paying the interest.
I just am literally in over my head and I can barely put gas in my car now after I make these payments where as a year ago I had money to burn ( and my income hasn't changed..) I have 5 CC's and all I'm afraid to say are nearly maxed.
please any advise is considered and much appreciated.
Mike
Mike,
How much is the $10,000 worth of stuff worth now? How much can you raise by selling the stuff ? How much do you owe on the car and how much can you raise by selling it? You could probably get by with a much less expensive car since you are hard pressed to buy gas as it is.
If you want to keep the stuff and the car and still have an 800 FICO score by next year, the only thing left to do is get to work on increasing your income. You cannot borrow your way out of debt.
You will have to prioritize what you really want. You can't have everything in life that you want. Unfortunately that is how people get in over their heads in the first place. You say that you are a student. How important to you is graduating from school instead of dropping out?
If you absolutely must keep the car, you might try to find jobs like pizza delivery that usually pay enough to pay car expenses. Are you willing to do no socializing whatsoever in order to be able to keep the car and actually graduate from school?
College students are usually also in demand as waiters and car parking valets. Those jobs usually pay quite well. Of course the peak time for work are the weekend night time hours. Weekends of fun with classmates unfortunately cannot have a priority higher than getting out of debt.
If you want to stay in school and work extra "part time" hours, it will be difficult to cary a full course of study. Perhaps taking fewer classes might be an option. The quickest way out of debt would be to take a semester off and work full time day and night. Only you know if that is feasible or advisable.
Getting out of debt over time requires a lot of sacrifice, dedication, discipline, and some pain. If you want to get out from under the Spartan lifestyle and feel the pain subside quicker, it takes a lot more dedication and even more short term pain.
You will get a lot of advice about BTs, and lowering interest rates in forums like this, but none of the advice will help in the long run if you don't get your priorities in order. Many here can help with suggestions about earning extra income and belt tightening measures. It is not so bad if a person chooses to do extra work instead of socializing with other students. When you socialize more with working people, as you work extra jobs, you still can have a lot of fun, and get paid for doing so.
Here is a short outline of possible priorities that you might consider. Many of us have had to make hard choices like these as we have lived our lives over the years.
* Spend a lot of time with school friends and or girl (or boy) friends.
OR socialize only with people met during the course of working extra job(s) or hour(s).
Better yet, ask around which college students are working their way through school. Seek those students out and become their friends. Find jobs where they work, and socialize with them by being part of their work group, and get paid at the same time.
* Have a few (or more) "social drinks" with strangers meet at bars and parties.
OR don't party at all and put that money towards debt.
* Have a beautiful new car to ride around in when gas money is available.
OR sell it. Or at least use the car to earn a lot of extra money.
* Graduate from school instead of dropping out.
It is virtually impossible to reduce debt, still buy a lot of stuff,
maintain an active college social life, study and actually graduate.
* Paying down debt as fast as possible is essential to the game plan.
.
* Sell everything that is not needed to work, study, and graduate from school.
I am sorry for being so blunt, but you have a very "blunt" problem. FICO and Credit advice alone will not solve your problem. The tips and tricks you seek will only achieve slightly better terms from creditors. Having a greater percentage of a minimal payment applied towards principle is not the solution to the problem. Paying a lot more towards the debt every month is the best solution. You know you can do it if you set your mind to it. You are capable of earning enough money to "have money to burn". You simply have to stop burning it and use it to pay off your debts.
Mike, Please "objectively" read all of your posts that you made in this forum. Try to see where the path you were on seemed to be headed. Read carefully the responses and some of the cautionary advice that you were given. Did you really follow the advice that would have helped you avoid your current state of affairs?
Will you possibly consider taking advice that is hard to swallow, if it will eventually lead to a solution to your problem? I know that you are young. You are about to become older really fast. I will pray for the best for you. No matter what happens you will be fine in the years to come. The lessons about finance and credit you are learning now will pay off big time as you make your way through the mine fields of life. 