Credit Card Debt Need Advice.?
Hi, I have serious issues with my credit card debt. I’m in between 10-20 thousand dollars in debt. (Never accept a credit card when you’re a senior in highschool). I am having serious problems paying off my credit card. I lost my 2nd job, due to conflict in schedule with my current job. Applying everywhere, no luck. What are my options, and list their pros and cons. I need sound advice. If i can get another job, then i would be better, no luck so far. New Jersey area here.
You could declare bankruptcy
but that would cost you money
you could seek credit counciling
or if you don’t own any property for them to seize
you could just stop making payments
and ignore them
that’s what I did years ago
and I haven’t heard from them since
some of them didn’t even bother reporting me to the crdit bureaus
that would be woth a shot for you
depending on your circumstances
Read on these sites – lots of great info.
http://www.gmigllc.com/debt-consolidation/
http://www.gmigllc.com/debt-relief/
Also, check your credit file and talk to a debt settlement company (non-profit, but even then be careful) about a debt management plan.
You need to start making as many payments as you can on it and get it paid quick, what is the interest on it?OR Talk to a financial ad visor- you do not want to claim bankruptcy if you can help it. what did you buy????
First thing is first. I assume that you are working one job? You need to pull out all of your bills and figure up exactly how much you owe. The second thing is pay minimums on every card while you save up $1,000 in the bank for emergencies. Then you pay the lowest balance with a vengeance until it is paid. When that is paid you pay the next card using the payment you were making on the first plus the minimum you were paying on the second. Repeat until every card is paid. Cut up your credit cards, all of them. The site below should help you get started. You don’t need ot file bankruptcy, or consolidate or settle. You didn’t get into this mess overnight and you won’t get out of it overnight either. Good Luck!!
Contact Consumer Credit Counseling Services at 1-800-388-2227 they are the largest and oldest credit counseling service in the nation and have offices in most every major city.
They will lower your interest rates and monthly payments and they are non-profit.
I used them several years ago and was debt free in 36-months.
I found a huge online list of New Jersey credit card resources. http://www.howtofindcreditcard.com/New-Jersey-Credit-Cards.html Try calling a nearby service and they surely answer your questions.