Habits gotten out of control

Date: Fri, 10/13/2006 - 16:37

Submitted by anonymous
on Fri, 10/13/2006 - 16:37

Posts: 202330 Credits: [Donate]

Total Replies: 2

I have 5 credit cards with limits ranging from $4000 to $8,000 on them and I'm maxed out on some of them for a period of about 4 months.

My total debt right now is about $20,000 and I'm having a hard time keeping track and paying them all back and rescuing my credit rating.

I made a budget and have a more cash flow and would like to become debt free in a 12 month period. I would hope that the first thing I can do is to be able to consolidate all the credit cards into single loan with a decent apr (maybe 10%?) and then cutting up (not closing) all my credit cards.

Hi Kidhero You'll have to explain about your finance and deb

Hi Kidhero

You'll have to explain about your finance and debts to the debt counselor. He will resize all your payments under one plan and offer easy installments with lower interest rates. Consolidation will eliminate the fees and offer lower interest rates. Have you looked into other options? You have a large amount of debt and the plan within 12 months period will require larger payments from you. Look into the debt settlement program also if that sounds beneficial. The total debt will shrink to half of the amount and the payments will also be lower than the one set in the consolidation. The page below is about debt settlement if you are unsure about how the program works.

http://www.debtconsolidationcare.com/debt-settlement.html

After doing a thorough research, decide the program that can give you the maximum results. The earlier you pay off the debts, the sooner your credit will get its worth.

lrhall41

Submitted by keystrokes on Fri, 10/13/2006 - 17:05

( Posts: 495 | Credits: )

Welcome to the Community,Kid :D I found something for you to lo

Welcome to the Community,Kid :D I found something for you to look at and consider before the credit counselor contacts you at http://www.debtconsolidationcare.com/steps.html You can calculate your debt,analyze it and see what option might suit your needs.If you are financially able to make the larger payments to get it paid off sooner,that would be great. However, you always have to remember not to cut yourself too short for those emergencies that come along. One thing I do not advise is, taking out a loan to pay other debts,sometimes that just gets and keeps you in that viscious cycle.Good Luck,keep us posted...Karen

lrhall41

Submitted by Bossy4455 on Sat, 10/14/2006 - 08:32

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