Member since
XOXO
Member since
Re: credit card debt woes...
I would definetly combine them on the lowest interest credit card, your balances arent that bad. Then I would just make one big payment each month.
Seems to work for me - but I know how frustrating it can be!!
Oops, I thought it said 1,000 on each card. I would still try to get a debt consolidation loan and payoff that - the interest would be lower.
Seems to work for me - but I know how frustrating it can be!!
Oops, I thought it said 1,000 on each card. I would still try to get a debt consolidation loan and payoff that - the interest would be lower.
Member since
Re: credit card debt woes...
I know exactly how you feel. We are still paying off our wedding debt and we are married for almost 2 years already. We are also renovating our house.
We stopped using the credit cards all together and this has helped tremendously. We are almost there but we still have plenty to pay off.![]()
![]()
We stopped using the credit cards all together and this has helped tremendously. We are almost there but we still have plenty to pay off.
Member since
Re: credit card debt woes...
I would try to transfer to a 0% interest card. FI had over 6000 in debt and he was making at least double the minimum payment which barely made a dent. Once he transferred it to a 0% card he had it all paid off in a year and a half. Be careful w/ the 0% cards b/c it's 0% for a certain amount of time and make sure there is no balance transfer fee. Good luck!
Member since
Re: credit card debt woes...
You should apply for a debt consolidation loan at your bank. DH did this (he had about $12,000 in cc debt). It's been about a year and he has a balance of about $3000 to pay cuz he makes double payments at least once a month. If that isn't a good solution then I would go for a 0% interest card, the only problem I see with them is the 0% is usually for a limited time.
Member since
Re: credit card debt woes...
Member since
Re: credit card debt woes...
I have credit card debt myself right now. I have about $5500 to $6000 combined on four cards altogether. But I really have like $500 each on two cards, and $1000 on another, so I'm just hoping to pay those all off within the next couple months, and only have a balance on the one card. That card has a $4,000 balance. I don't think I'll need to charge really for the wedding though as we saved up money, so we wouldn't be paying that money off after wedding.
Member since
Re: credit card debt woes...
I don't know if you own a home or not, but a great way for a homeowner to deal with debt is take out a home equity loan and pay it back slowly... the interest you pay on the home equity loan is deductible, so if you don't take the standard deduction, you end up making the interest back at the end of the year in your taxes...
Member since
Re: credit card debt woes...
My girl thinks anything she can't save up for the wedding is going on credit card debt. I am like f--- that.... no way in hell is that happening. We both have zero balance and I want to keep it that way.
She may come up with the cash afterall for the wedding without borrowing because her mom actually sent us a check to help out with the wedding. It isn't even gonna put a dent in half... but it is a nice chunk of change nonetheless.
When I was younger I was running a $6000 debt for a few years. I have no idea how i was able to hold that without driving myself nuts.
Definitely do what others here say. Consolidate into one credit card. Take a home equity loan out if you have a house.
Also... CALL YOUR CC BANK!!!!! Ask them to lower your rate (or else you may look to balance transfer somewhere else).
I'll betcha a six pack they lower your interest rate at no cost to you (courtesy).
She may come up with the cash afterall for the wedding without borrowing because her mom actually sent us a check to help out with the wedding. It isn't even gonna put a dent in half... but it is a nice chunk of change nonetheless.
When I was younger I was running a $6000 debt for a few years. I have no idea how i was able to hold that without driving myself nuts.
Definitely do what others here say. Consolidate into one credit card. Take a home equity loan out if you have a house.
Also... CALL YOUR CC BANK!!!!! Ask them to lower your rate (or else you may look to balance transfer somewhere else).
I'll betcha a six pack they lower your interest rate at no cost to you (courtesy).
Member since
Re: credit card debt woes...
www.bankrate.com has some good tips on debt consolidation and they give you the best credits with the best rates.
Member since
Re: credit card debt woes...
Posted by DjPiLL
My girl thinks anything she can't save up for the wedding is going on credit card debt. I am like f--- that.... no way in hell is that happening. We both have zero balance and I want to keep it that way.
She may come up with the cash afterall for the wedding without borrowing because her mom actually sent us a check to help out with the wedding. It isn't even gonna put a dent in half... but it is a nice chunk of change nonetheless.
When I was younger I was running a $6000 debt for a few years. I have no idea how i was able to hold that without driving myself nuts.
Definitely do what others here say. Consolidate into one credit card. Take a home equity loan out if you have a house.
Also... CALL YOUR CC BANK!!!!! Ask them to lower your rate (or else you may look to balance transfer somewhere else).
I'll betcha a six pack they lower your interest rate at no cost to you (courtesy).
never take out a loan on a house........that is just plain dumb.........
Member since
Re: credit card debt woes...
I would try to consolidate as much onto one card that you can. Open a new card, transfer your balances, close out the cards that you can and take advantage of a 0% rate for like a year and a half, that's what a lot of cards offer.
I'm a little confused as to whether you have $10,000 in total or $30,000-$10,000 on each card. Either way, credit card debt really sucks, but just give it some time and it will go away. In the mean time try not to use your cc and just put as much as you can towards your payments. It may take a couple of years to pay off, but hey it's part of life.
I would not under these circumstances apply for a home equity loan or have your debt's consolidated into an account. This will not help your credit at all. You're better off paying down your cc then doing this.
I'm a little confused as to whether you have $10,000 in total or $30,000-$10,000 on each card. Either way, credit card debt really sucks, but just give it some time and it will go away. In the mean time try not to use your cc and just put as much as you can towards your payments. It may take a couple of years to pay off, but hey it's part of life.
I would not under these circumstances apply for a home equity loan or have your debt's consolidated into an account. This will not help your credit at all. You're better off paying down your cc then doing this.
Member since
Re: credit card debt woes...
Posted by maiahsdad
never take out a loan on a house........that is just plain dumb.........
Whats wrong with a home equity line of credit? I would prefer the 5% tax deductable interest over the 12-18% credit card anyday. Of course I would only do this if I already tried calling the bank first to get a lower rate?
Member since
Re: credit card debt woes...
Posted by Jenn524
I'm a little confused as to whether you have $10,000 in total or $30,000-$10,000 on each card. Either way, credit card debt really sucks, but just give it some time and it will go away. In the mean time try not to use your cc and just put as much as you can towards your payments. It may take a couple of years to pay off, but hey it's part of life.
Hi Jenn,
That total debt I mentioned in my post was a combined total on 4 cards - if it was that much on EACH I think I'd be comatose with shock! :) Recently I did transfer a lot of the balance on one of my cards to a lower card, so now the bulk of it is just ion one place. I think this is the way I'm going to handle it, and I'll just make the payments. I haven't used this card since the debt piled up, so hopefully I can get these paid off in the next couple of years!
