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 Posted: Wed Mar 05, 2008 1:38 pm Subject: Knee deep in debt - so what else is new... |
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Hello everyone!
I'm knee deep in debt, and want to get out - but I can say that the end is getting further and further away it seems.
I currently have $57,000 in credit card debt. I can make the monthly payments - for now, but slowly the creditors are starting to jack my rates for no good reason.
I have had a solid payment history for close to 5 years now with all my creditors. I always pay on time, never have been late (ok well except for 2 cards last month when my son was hospitalized with the Flu), and have been a good customer all around.
Nwo that the rates are going up, the payments are going higher and I cant say how much longer I will be able to make my payments and make a small dent in the balances.
All the debt is in my name alone. I'm seriously considering BK and have started looking into my options. If the creditors would just lower my interest a little, or if I could consolidate at a lower interest rate, I'd be fine - and I'd be fine with paying it all off. But sadly it isn't working out that way.
I'm here to do some more research and hope that I find a miracle answer - although I know I probably wont. So at least then I hope to learn a little more about everything Smile
I have considered CCCS, but to be honest, I'd rather file a BK than ruin my credit with a CCCS. I know it sounds selfish, but I've worked too hard to let a CCCS kill my credit. I know there are things I can do to help like make sure all payments are received on time to the OC until the CCCS payments kick in, make sure all OC accept the CCCS offers, etc.
I've also considered trying to settle my debt, but with no spare cash, thats just a tad bit hard to do 
_________________
CC Debt $57,000
CC CL $75,000
Mortgage 85,000
Car Loan $11,000
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Shayla
Joined: 05 Mar 2008
Posts: 25
Debtcc Points: 783
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| Posted: Wed Mar 05, 2008 9:09 pm Subject: |
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shayla, have you tried calling the debtcc telephone number for a free consultation? You can give them your information and they can point you in the right direction to best fit your specific situation. They've got great people who can give you great advice and information. The number is 1-800-601-1579. 
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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dbcoders
Joined: 14 Nov 2007
Posts: 32
Debtcc Points: 539
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| Posted: Thu Mar 06, 2008 12:07 pm Subject: |
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Yeah.. I'm aware BK will trash my credit too, but it seems so much easier to come back from a BK rather than file through CCCS - at least from everything I've read the past 3 or so years haunting the credit boards sites.
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Register today to cash in debtcc points.
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Guest
Debtcc Points: 100
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| Posted: Thu Mar 06, 2008 12:09 pm Subject: |
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Sorry guys, the last post is mine. I'm not sure why I keep loosing my cookie to this site and it keeps thinking I'm a guest. The browser stays open and it just seems to log me out after a while.
_________________
CC Debt $57,000
CC CL $75,000
Mortgage 85,000
Car Loan $11,000
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Shayla
Joined: 05 Mar 2008
Posts: 25
Debtcc Points: 783
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