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New Visitor
Posts: 3
Registered: ‎04-07-2013
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$37,000 in credit card debt, how to dig out?

$37,000k in credit and $10,000 in unsecured medical loan.

Not late on any payments ever. APRs are good. Im at point now though that im getting declined for cards due to d/i ratio.

I net pay 6300/ month.

No student loans, mortgage $1,000. Car payment $600.

Used for medical procedures (IVF)
$9.8k USAA MC
$5.5k Chase Aafes
$4.8k Chase Sapphire Preferred
$4.3k Citi Diamond Preferred
$2.0k GM
$4.0k 5/3
$2.0k wf

Non medical used
$4.3k bluenile
$1.8k best buy

Unfortunately i had to use cards to pay for ivf bills.
Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: $37,000 in credit card debt, how to dig out?

It sounds like you are doing well already.  Paying $6300 a month should pay off your debt in less than a year.

You have no late payments and good interest rates, so just keep it up and wait it out.  Just stop making big charges on your cards.

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New Visitor
Posts: 3
Registered: ‎04-07-2013
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Re: $37,000 in credit card debt, how to dig out?

Sorry i meant i take home $6300/month after taxes. Not pay towards cc.
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: $37,000 in credit card debt, how to dig out?

[ Edited ]

Might be a good idea to consolidate to a personal loan. Question: are you going to continue procedures? Is that why you want to apply for new cards?

care credit may be a good option...

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Posts: 3,355
Registered: ‎10-19-2012
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Re: $37,000 in credit card debt, how to dig out?

Like webhopper said, you should consider opening a personal loan. Otherwise, opening a Chase Slate or any other card that's offering 0% on balance transfers for at least a year will be a good alternative solution.

New Visitor
Posts: 3
Registered: ‎04-07-2013
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Re: $37,000 in credit card debt, how to dig out?

No more procedures. In gods grande acheme of irony, we conceived naturally.
Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
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Re: $37,000 in credit card debt, how to dig out?

If you can take out a personal loan for a lower APR that would be a good option.  You didn't mention limits but if they are close to maxed you FICO score is getting hammered and that will be a big impediment to obtaining a signature loan.  Many credit unions offer debt consolidation loans that may be a bit more lenient with the maxed out cards but otherwise clean credit.  With a local CU  you can also talk face to face with a LO and explain the situation.  Your is a lot different than someone who just lived beyond their means. Good luck!

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: $37,000 in credit card debt, how to dig out?

Congrats on your upcoming baby!
I agree with boomhower... always great suggestions!

Definately a personal loan will help you dig out. Do you have access to a 401k loan? If so; use a 401k loan to pay off debt; then apply for a personal loan to pay off the 401k loan after all of your balances have updated. I don't recommend a long term 401k loan for anything other than real estate purchase but if you have access to one it can be a nice short term way to raise scores so that you get a great rate on either a new card with 0% interest or a new personal loan at a great rate.

Starting Score: 08/29/2011 TU 671 EQ 674
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Posts: 885
Registered: ‎09-10-2010
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Re: $37,000 in credit card debt, how to dig out?

If zero % consolidation is not an option, I would list them smallest balance down to highest (regardless of interest).  Pay minimum on all but the first on the list, hammering it out with avengence.  Once it is paid off, carry that former minimum balance and tack it onto the next one in line.  Hammer that out with avengence and tack that former minimum onto the next.  and so on and so forth.  Otherwise known as a debt snowball.  This method also doubles as a financial behavior modification rather than interest mathmatics.


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Valued Member
Posts: 37
Registered: ‎03-11-2013
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Re: $37,000 in credit card debt, how to dig out?

I was in a similiar situation, less debt, but I also net much less than you. I didn't have to consolidate, although that may be a proper option for you. Give yourself a realistic goal and live by this mantra: NUKE MY CREDIT CARDS. Start with the highest APR and work down the list. Know that it will be a bit a journey and it will take a lot of discipline. 

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