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.
|14 mos||0%||promo 0%||ends||jul||2019|
| || |
|0% avail||from||nov1 2018||for 11||mos|
|0% w/no||fee||until april||2019|
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.
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
upgrade offer from Chase freedom to unlimited ( expires 12/31; cl now is only 500).
newegg ( pre-approved)
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
Choice privilege barclays
i must b thinking too deeply about what’s good for me while laying out exactly what’s good for me.
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.
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.