topic why i have to B/t in Personal Finance

why i have to B/t

Anonymous — Wed, 31 Oct 2018 06:22:10 GMT

I find myself in too much debt & very very low income. I have been pushing around the cards i have with my Grandma/DH/DW and haven't yet defaulted but am about to for i am just unable to meet all these requirements.

I did give bankruptcy a consideration, however, i cannot put Grandma (G) in trouble with medical condition,

I could use very good advice here. Income is less than $1000 which goes into mortgage/rent & utilities. everything else needs to be on credit cards.

Has taken me forever to put this table up knowing all to well i m no where near good at Excel or tables. Please excuse my formatting/design/etc.

credit Cards					Balance

APR	Due	Min
	Date	Due

FTCCdh		10/11/2018	$197.00		5000
		promo 0%	ends	feb	2019
FTLOCdh		11/22/2018	$228.00		6382

Discovr G		11/15/2018	$35.00		838
14 mos	0%	promo 0%	ends	jul	2019
~~Discovrdh~~		~~11/28/2018~~	~~$0.00~~		0

PPalXG	24.57	11/17/2018	$35.00		1257

PPalXdw	24.57	11/10/2018	$35.00		678

SamMCdh	26.25	11/5/2018	$52.00		2621

WFPG	0%	11/12/2018	$0.00		0
0% avail	from	nov1 2018	for 11	mos
SlateG		11/20/2018	$25.00		1041
0% w/no	fee	until april	2019
Cap1QsG	25%	11/21/2018	$49.00		995

USAAdh	17%	11/23/2018	$72.00		1457

Merrickdw	18%	11/5/2018	$38.00		1471

Cp1Vendh	26%	11/5/2018	$33.00		3178

CpQsdh		11/22/2018	$25.00		2859
0%	until	sept 2019
AlliantG		11/8/2018	$65.00		2275
0%	until	april 2019
PpalCrG	25%	11/6/2018	$62.00		2425

DCUG	12%	11/5/2018	$29.00		1669

PPalSyhoo	25%	11/18/2018	$47.00		1533

		TOTAL	$1027.00		35679

Re: why i have to B/t

Anonymous — Wed, 31 Oct 2018 15:09:26 GMT

Yes I can see your issue and a nice long 0% BT would be great. But without your scores and the limits of your card for utilization purposes its impossible to know if you ill qualify for any. If you are maxed out I don't see you qualifying. Personally, I would go for the BK because I don't see this being paid back in 5 years or less.

Re: why i have to B/t

Anonymous — Wed, 31 Oct 2018 16:32:04 GMT

card bal

PPal $1485
PPal $2457
Ppal $503

PPal $1165

Total $5610

cap1 Venture $ 3710

Merrick B $ 1443

total $ 4621

Re: why i have to B/t

Anonymous — Wed, 31 Oct 2018 18:42:26 GMT

Card. Balance

FTMc. $4900

FTLOC. $6282

toal. $11,182

ftmc is at 0% Apr until feb 2019. FTLOC is 14.5% apr.

so some data points

EX fico 08 698 inq =8 in 12 mos

EQ fico 08 707 inq =1 in 12 mos

TU Fico 08 752inq = 2 in 12 mos

Util 37% AAoA of 7 yrs

Ex fico 8 702 inq =3 in last 12 mos

EQ fico 8 716 inq = 1 in last 12 mos

TU fico 8 748 inq = 1 in last 12 mos

util= 7% AAoA of 3.5 yrs. income income is cash plus $10,000.

now, preselected on DW for

Amex bce & cash magnet ( ex pull)

FNBO 0% apr (ex pull)

bofa cash rewards (ex pull)

barclays choice privilege visa

chase slate

discover

citi simplicity

upgrade offer from Chase freedom to unlimited ( expires 12/31; cl now is only 500).

Loans offer

prosper

barclays

newegg ( pre-approved)

marcus

The real question is getting my desired starting limit. dH has two cards with $12k limit but Dw max limit is $6k with papal x mc.

What strategy to use. While dw profile is good & can be made better, DH could do credit unions like rbfcu or alliant &achieve same while preserving DW profile intact.

Need just three b/t approvals with high SL.

DW likely apps

Amex

Discover

FNBO

RBFCU

Choice privilege barclays

Alliant

i must b thinking too deeply about what’s good for me while laying out exactly what’s good for me.

Idk.

Re: why i have to B/t

Vegas4Play — Wed, 31 Oct 2018 19:45:14 GMT

I would advise against pulling Grandma/DW/DH???? into the mix of your debt at this time. It seems you need to cut as many/much in expenses as you can to pay this debt down. You may also Need to look at what you are spending on that you can not pay for, an manage that better going forward. It may also be a great plan to seek others ways of generating more income.

Yes you can shuffle the debt now, but what happens when you continue to spend and can not make those payments???

Generate more income, curtail your spend where possible, leave gm/dh/dw out of the debt loop, and attack your debt by snowballing it and/or highest interest rate first before the 0% offer payments.

You have been around this forum for some time, I'm sure you have an idea of what you need to do. You just need to focus and get serious at doing it. Just my two cents, but if you see you need more money go after that.

Re: why i have to B/t

Anonymous — Sat, 01 Dec 2018 05:20:14 GMT

You have both a husband and a wife?

Re: why i have to B/t

Anonymous — Tue, 04 Dec 2018 03:04:40 GMT

@Anonymous wrote:
You have both a husband and a wife?

I was surely wondering who's the OP in this situation, but OP I do applaud your effort for seeking help in what could seem like a drowning situation, with responsiblity there is always light.