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Feel like im just throwing money away

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Senior Contributor

Re: Feel like im just throwing money away


@Chache wrote:

trying to comsolidate


Credit scores in the low 600's 

 

Cards

 

penfed 8,000 maxed at 9,000 still open

penfed 10,000 maxed at 11,000 they closed the card on me

 

 

navy fcu not maxed using 40%
discover maxed 3000

paypal maxed 7000

Auto loan 70% left to pay off

 

credit union personal loan

 

10,000/ 2,000 paid on it

 

been going for a year now and nothing is moving down the balances are barely moving does anyone know of any lender that would possible do a personal loan to put all the credit debt on one payment so i can actually pay this debt off as i feel thst im just throwing money away i hAve zero missed payments or derogatory's on my credit my credit is just getting destroyed by utilization i have tried to apply for personal loans but cant find help anywhere

 

appreciate any help 

 

and i cant afford to pay extra on any of the cards i know that would be the best way

 

 


I think you are looking for a short term solution when you should look for a long term solution trajectory. 

1) Start with looking at your expenses and see where you can cut back and make larger payments. Also, are you continuing to use your credit cards? If so are you paying the minimum and whatever you charged in the billing period? 
2) Create a realistic budget. Use the credit card tool, https://financialmentor.com/calculator/debt-reduction-calculator, to help figure out a payment plan to eliminate debt.
3) Look into getting a second job to help pay off debt.

In your case, a BK is not worth it. Even if you were to get a loan, unless you change your spending habits, chances are you will end up maxing out your cards AND having a loan to pay off. Im wondering if that was the case when you got the first personal loan.




American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.1.20) EX: 832 / EQ: 846 / TU: 834
Message 11 of 13
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Established Contributor

Re: Feel like im just throwing money away

Try delivering for DoorDash. I do it 2 days a week and make $200+ per week!

Easy money and it's fun.

 

 

Message 12 of 13
Highlighted
Regular Contributor

Re: Feel like im just throwing money away


@Chache wrote:

trying to comsolidate


Credit scores in the low 600's 

 

Cards

 

penfed 8,000 maxed at 9,000 still open

penfed 10,000 maxed at 11,000 they closed the card on me

 

 

navy fcu not maxed using 40%
discover maxed 3000

paypal maxed 7000

Auto loan 70% left to pay off

 

credit union personal loan

 

10,000/ 2,000 paid on it

 

been going for a year now and nothing is moving down the balances are barely moving does anyone know of any lender that would possible do a personal loan to put all the credit debt on one payment so i can actually pay this debt off as i feel thst im just throwing money away i hAve zero missed payments or derogatory's on my credit my credit is just getting destroyed by utilization i have tried to apply for personal loans but cant find help anywhere

 

appreciate any help 

 

and i cant afford to pay extra on any of the cards i know that would be the best way

 

 


I was in the same boat as you as my saving grace was a close friend adding me to his cards as AU and lowering my UTI significantly. I also had a 0% BT on Navy that I was able to send my full balance to one of his cards and then back to my NAVY effectively resetting the interest rate. When the amounts report as $0 on your credit you can apply to 1-2 cards and see if you can get 0% offers. 

 

This is just a long shot solution to your current situation but you need to get on a strict budget in order to knock all of this down.

   
Credit Repair Tracker: Don't get discouraged: 220pts gained to 780!


MYFICO Proud Garden Club Member: 

Message 13 of 13
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