mooshi wrote:Last year I had finally fixed my credit and had and Equifax score of 780. I applied for some cards and maxed them out. Now I am over $25,000 in debt and the APR on the cards are killing me. What do I do? The APR was 29% on a Sam's Club Discover and a Wal-mart Discover card. Please no flaming. I know I messed up and just want advice on how to fix this and not a public bashing.Thanks in advance.
If you own a home, and you have equity of any substance, then I would with reluctance and hesitation mention a HELOC--Home Equity Line Of Credit--to pay off your cards.
Some folks truly do learn their lesson, and go on to clean things up with a HELOC. Others, who claim they have learned yet truly have not, get the HELOC and go right back into debt.
No one here has any idea which camp you're in. Only you do and only if you're truly honest with yourself.