NEED ADVICE NOW!!!

[Anonymous]

I am new here and hope to get some advice. I have a shopping addiction and am bipolar on top of that. I have gotten myself pretty deep into debt and don't know where to start to fix this problem. I am seeing a therapist for the bipolar and addiction. She just can't help me with financial advice like I need. I have too many accounts open, too high of limits and right now I don't know how I am going to pay my bills this next month. Because of the bipolar, I have trouble concentrating and remembering when my bills are due so I have been late on two of them recently. I tried to have my APR lowered on one card but was denied because of a typo when I put in the amount due last month. I was told it would take six months before they would consider my request again. Please, someone try to help me get on the right track and where do I begin.

[Anonymous]

1. call all your CCC and find out your totall amount you owe. ( STOP SHOPPING).

2. Take away your credit cards away from you. You might even give it to anyone who knows your situation. so, that will keep it away from you since you are addicted. ( BUT REMEMBER NOT CLOSE ANY OF YOUR CREDIT CARDS UnLESS YOU HAVE MORE THAN TWO CC's; in that case if you have more than two CC  close the once you dont have good credit history on it)

3. Set up all your payment on Line, or you can buy a calendar. Write down on the calendar a week advance on each CC due date. Try to send your payments the date you marked down on the calendar. usually, it takes USP 4 to 5 business days to deliever it.

4.. Try to pay much money every month on the CCs that has lower debts on it. And try to pay only the mini amount on your CC's that has bigger debts on time so, that when you finished paying off the lower debt then you can focus on the larger debts.

5.Try to set up a budget a week on how much you willing to spend. 40 to 60dollars..no more than that everyweek. Make sure you buying things that you knew that you have the money already in your bank or else  try to pay by cash.

6. Try and cook instead of eating outside.

I hope these will help you solve your debts problem.

Message Edited by keneyone on 04-29-2007 11:10 PM

[Anonymous]

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susan6 wrote:
I am new here and hope to get some advice. I have a shopping addiction and am bipolar on top of that. I have gotten myself pretty deep into debt and don't know where to start to fix this problem. I am seeing a therapist for the bipolar and addiction. She just can't help me with financial advice like I need. I have too many accounts open, too high of limits and right now I don't know how I am going to pay my bills this next month. Because of the bipolar, I have trouble concentrating and remembering when my bills are due so I have been late on two of them recently. I tried to have my APR lowered on one card but was denied because of a typo when I put in the amount due last month. I was told it would take six months before they would consider my request again. Please, someone try to help me get on the right track and where do I begin.

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First of all cut up those cards.  You don't need access to credit until you get your addiction under contraol.  I would never reccommend canceling a card unless yu just cant resist the temptation to use them and some banks will charge fees for closed accounts with balances.  If you still find a need to order a replacement card, close the accounts and take the consequences until you have more control. That being said get as far away from plastic as you can right now.

Start by paying no less than minimum amounts due on all cards. I know its hard not to shop but use all your extra cash to get those balances down even if it means picking up a small part time job.

The biggest thng that needs to be addressed is the need to shop because without cards you may wind up spending cash you should be putting towards these bills on unnecessary things.

[Anonymous]

Thanks for getting back with me so fast. Your advice sounds good. I will do as you suggested. It will be hard because I seem to be able to remember the account numbers and expiration plus security code. Would it be a good idea to transfer balances on another card and consolidate and just have one payment instead of several?

[Anonymous]

Thanks for the advice. It sounds like a good plan. I will get started right away.

[Anonymous]

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susan6 wrote:
Thanks for getting back with me so fast. Your advice sounds good. I will do as you suggested. It will be hard because I seem to be able to remember the account numbers and expiration plus security code. Would it be a good idea to transfer balances on another card and consolidate and just have one payment instead of several?

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In that case, transfer all balances to a new card if possible.  If your limit is higher than your balance call and have the limit reduced to the amount on the card.  Close all other open accounts.  That should make it difficult to shop whether you remember the numbers or not.  I would reccommend until you get the addiction under control that you reduce the limit on the new card until it becomes manageable no matter how much you shop.  You could always have all the limits reduced to prevent shopping now.

[Boswd]

If you are having trouble remembering when due dates are and setting up a budget, there are a number of programs you can use to help you get straitned out and on track.   For example I have Bank of America and their online has buget programs, etc.    you can purchase Quicken which is a great program that will set up your budget and send you reminder's of when certain debts are due.   If you have Outlook  use your calender in their that will also send you reminders of when things are due.

good luck.

[Anonymous]

I have transfered two high rate balances to one with 0% APR. I am also working on to see if I can consolidate the cards into one account and have just one payment. If that isn't a wise step, please let me know. I am also trying to stop watching the shopping network stations which is where I do most of my shopping.

[Tuscani]

Sounds like you are on the right track! Good luck!

[Anonymous]

Thanks. I am doing my best right now. Please send more advice as needed.