Yes.
1. Stop using the cards.
2. Establish a budget and kill all non-essential spending (eating out, movies, impulse/convenience or luxury buys).
3. Sell stuff. We all accumulate stuff that we don't use, don't need, is a luxury can do without and even don't remember it stored in the closet, under bed, in attic, garage or worse in paid storage. Have a garage sale, ebay and craigslist sale and use it to pay down on debts. Some people raise from hundreds to a few thousand.
4. Request APR reductions from the existing accounts. They might be able to get some to lower the APR, even if only for 6 months to a year on a "hardship" basis. The reduced interest can then be paid to principle.
5. You may be able to settle some accounts for a discount. Many lenders are offering to lower the principle in hopes of getting it paid off sooner and with as little loss as possible. This may negatively affect the FICO, but will positively affect the finances.
6. Secondary part time jobs. I suggest the fiance at a minimum get a second job if possible. If you want to help, rather than taking on the debt, consider a second job too. It may not pay as well as primary, but the additional income can be focused on eliminating, settling and paying down debt which reduces interest and liability. This would be a good thing to work together on prior to marriage.
I don't recommend you taking on the debt prior to marriage, and encourage you to work on ways to pay down and/or eliminate the debt prior to marriage.
Message Edited by txjohn on 04-27-2009 07:16 AM
