OP, there are a few things that should be considered. For example, closing your cc accounts with a balance will absolutely tank your scores. Going into a hardship program will also tank your scores. The very first thing you should do is put a buget together. Your money is leaking out somewhere plus you have a higher rent. But as pointed out it could be more to own a house with a mortgage when you include the other expenses such as homeowners insurance, mortgage insurance, property taxes, maintenance fees and repairs. Please take the time to research what factors influence your scores. Looking at the Understanding FICO Scoring section will help you for that portion. Don't close your credit cards yet without determining the huge negative impact it will have to your scores. Then put together a buget. Next, talk with HR to see if you can modify your withholdings.
