Too Much Credit Card Debt!!

[clewis122]

Well, my boyfriend pays half my rent & helps with other bills..

Thanks, guys!

[MyLoFICO]

You need to provied a list of your cards, all of them. There respective APR, minimums due and balances. I am in the same boat only much worse and I got tons of great advice. Be sure to list your 0 balance cards if you have some. Also, put your cards up, all of them. Yes, even that one. and stop using them asap. 

[northface28]

I'd start by refinancing or getting rid of that $600 car payment. 1/3 of your income goes towards a car payment.

[MyLoFICO]

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@northface28 wrote:
I'd start by refinancing or getting rid of that $600 car payment. 1/3 of your income goes towards a car payment.

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I agree with this. If you have a credit union, try them first. But that is a high payment. Unless you drive a Bugatti, then you got a great deal. 

[CreditCuriosity]

A obvious side suggestion is cut up your credit cards immediately as you need to get your spending under control and pay off the long and painful debt your have racked up.  Also as others suggested get another part-time job and possibly a debt consolidation loan if possible.  Best of luck to you on however you move forward

[Anonymous]

Yikes, you are drowning. I did debt consolidation- just a heads up they close all your cards when you do consolidation. My credit score also lowered with the consolidation, not like it would when claiming BK, but still it wasn't a good scene. I would personally start with refinancing your car loan, that is a crazy high amount to pay on a car, especially when you feel overwhelmed. Another option is a part time job to try to help with some of the bills. Also, if you haven't already, I would think about cutting up your credit cards so you don't get the urge to use them and try to pay cash for as much as you can. Good luck with everything!

[Creditplz]

Smc on debt consolidation they make you close your cards?? I learned something new

[Kidcat]

OP- I would look into finding a way to get out of your car.  Your car note is 1/3 of your bring home which is way too high.  Your debt payments are 72% of your bring home.  

With a mid 600 score you may qualify for one of the peer to peer loans, but they do look at your income the most, and the car note may disqualify you.  Perhaps a part time job?

Good luck with knocking that down.

[northface28]

Out of curiosity what kind of car is it?

[Anonymous]

Are you upside down on the car?

If not I would sell the car, and buy a much cheaper car that will be around $300 a month with a 2-3% interest rate, this will give you breathing room and allow you to make a loan effective in consolidating your credit card debt.  You can also use whatever equity is in the car to pay down the credit card bills then you may not even need a personal or consolidation loan. A car loan with a 2-3% rate to free up the equity in your current car saves you alot more money then a personal loan for 10%.

Just my .2 but if you are upside down on the car, my advice is no help.