Holy Crap! I just added my credit cards up! Please help w/ advice!!

I just added up my credit cards and it comes to about $6000!!!! I have NEVER had credit card debt like this. Granted, some of it is from when I went back to college and I put my books, supplies and some of it is from when I filed divorce the first time (that was $2500) some is the kids babysitting copays. However, within the last 3 months, I've had to charge groceries, diapers, doctor visits, clothing for the kids, gas, etc. because my husband makes payments on other things and forgets to budget in for these necessities. I currently am looking for work...but no job as of yet. I really need some advice on how to make ends meet when he doesn't budget for certain things and whether I should just go to one of those credit counseling places, cut the cards up and try to consolidate them into one payment. None of them are late (that I know of), but again....I just really didn't sense it was that out of control. I feel guilty now and totally dumb that I didn't keep things in perspective. But honestly....at the time, I just knew the kids and I needed certain things so I just used the cards because I didn't know what to do. Have I totally screwed myself or is there another way other than to spend the next 10 years of my life making minumum payments and not getting anywhere? HELP!!!! :(

by momof4Illinois 253 Posts
Posted on 11/10/2008 5:12 PM

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Answers for "Holy Crap! I just added my credit cards up! Please help w/ advice!!" (4) (You must be logged in to answer)

With the credit card debt..I can't tell you anything that Delia hasn't already said.

With the job..try posting a resume on monster.com, usajobs, there are several job sites that also have resume writers if you don't already have one. (If you haven't already) In my "real" life I am a career counselor and might be able to send a few things if you are interested. Just let me know. I can try and help where I can.

-g

by JEANI 49 Posts
Posted on 12/20/2008 1:57 PM

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Here's something to think about also. We all get the junk mail advertising lower interest rates if you switch your card to them. Call your credit card company and ask them if they will match this lower interest rate. In order to keep your business they will often match competitors' offers. Or you can Call your credit card company, ask them for a lower interest rate. Explain your situation and a lot of times they will work with you. It might only be 1 or 2 points but that really adds up over time. They want their money, and they know if you file bankruptcy they won't get it, because it's unsecured debt.

(and if you think 6 grand is bad...try 20K, PLUS student loans of 30K, PLUS 17K in car loans) LOL

Good luck!

by delia_M 1556 Posts
Posted on 11/21/2008 3:56 AM

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Unless the credit counseloring is non profit don't do it. You can call and have the cards frozen. Keep just one open that has the lowest interest rate. Pay off the cards with the lowest balances first. That will free up money to put towards another card. It will take determination and being careful but you can get them paid off. Tyr to pay more than the minimum even if it's only $5.00 more. Start using cash. If you don't have the cash you don't need it.

Keep trying to find a job and do you need to have a yard sale? Try to tighten your budget and watch your spending closely. The things you are charging should not have to go on a credit card. Those things should come first and then the extras. I'm not lectruing. Just giving suggestions. I've been there once myself.

It's not as bad as it could be. I have a friend with $12,000.00 on one card and she took out another card. She happens to have a degree in accounting and is trying to find a job. Good luck

by trisha9054 2829 Posts
Posted on 11/10/2008 5:45 PM

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The advice I've always heard in order to pay them off the quickest is to take the one with the lowest balance and work on paying it off first while just paying minimums on the others. Once you get it paid off, take the money you used for that one and start paying as much as you can on the one with the next lowest balance, and just continue in that order. You will at least see some progress that way. Good luck on finding a job, and try not to get discouraged. Just keep thinking positive thoughts ...they say positive attracts positive, and negative thoughts attract negative things happening and I bleive there is a lot of truth to that.

Good luck.

Vicki Hoover

by vicki53 1 Post
Posted on 11/10/2008 5:37 PM

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Holy Crap! I just added my credit cards up! Please help w/ advice!!

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Holy Crap! I just added my credit cards up! Please help w/ advice!!

help you budget and plan

definitions from "alimony" to "writ of execution"

divorce, custody and child support links by state

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