Debt management

[Chache]

Long story short 3 years ago was a 500 worked on my credit got it up to a 740 well than starting using my credit and now im maxed out on all my cards and my credit has dropped i have no lates no missed payments no negatives on my account accept for my utilization i keep trying to apply for debt consolidations loans and keep getting denied any advice on what i can do thanks my main problem is i cant afford to pay extra so im paying minimum monthly payments on everything but the balances arent going down 

thanks

[Anonymous]

As stated in the replies in your other thread, more income via OT or another job, or filing for BK. Someone mentioned that you were at $38k plus some unknown number with NFCU.

To reiterate what was advised there, we need the full scope to give any meaningful advice - total amounts owed broken down by account, along with limits per account, income, and what you can afford to pay each month. Without that all anyone can do is guess.

[Anonymous]

I have found personal loans to be impossible to get when your cards are maxed.   I've tried.  I was at 102% and thankfully now I'm down to 71% but still no joy in the loan department (and in the FICO score either). 

So I decided that it was just time to get these all paid off.  I tried doing the over pay minimum on each card... again no joy.  Seemed like I was going in reverse.  I had several small cards (600 and under) that I have paid off using that method however this will not work with the larger card balances.  

I now have my larger cards for which each one has a priority by interest rate to be paid off.  I am able to take an initial snowball of $250.00 per month (thankfully) to start the process.  What I did was download this Snowball Calculator and input our cards and loans and such to give me an idea of when we would be debt free.  You take one card and pay it off then rollover the entire payment to the next card, paying only minimums on the rest, until they are all gone.  I had to do the highest interest first because my hubby got us in a pickle with a 360% interest loan for $1,300 that is killing our cash flow (it does not report but it has to go).  It will take 3 months to get this paid to zero without killing our budget.  But its payment (some insane amount like $380) and the additional $250.00 will go to the next debt and so on... We SHOULD be debt free by this time next year. 

If you don't have the cash to begin the snowball then I would suggest you have a garage sale or sell stuff on craig's list or eBay to generate enough money to at least payoff one card.  Once that card is PIF then you take that minimum payment and apply it to the next card.  Concentrate on one card at a time rather than trying to pay everything down all at once. 

Good luck!

[CreditJourney007]

Not sure of your situation, but:

-debt management program (not a loan) or call your creditors yourself and negotiate lower interest / paying off the debt

-2nd job

-new FT job

-moving somewhere more affordable if you rent

-renting out a bedroom if you own a home

-gig work like Uber Eats

I think your best bet is to call and negotiate lowered interest.