New Credit Card

brian ~ seems you are learning a lesson the hard way. What is the limit on your credit cards? Are you behind right now? Are they ones you have to PIF every month or make payments on?

If I were you, right now I would take those things out of my wallet and maybe consider closing them out. If you want to keep one, use it for EMERGENCY ONLY!

Call the companies and see what type of arrangment you can make with them. I am assuming you are working. If nothing can be done or they won't work with you, something you can do...do not get behind, but on 2 of them, make the minumum payment (keeping the card under the limit) and then put extra money on the other one until it is paid off (meaning the minimum payment plus extra). Once that is PIF, then take what the total payment you sent the first one and apply it plus the second one's minimum payment until it is PIF and do the same with the last one. I do not know what your car payment is or what your cell phone costs a month nor do I know what you make a month, but you need to do up a budget and try to stick to it.

I have a son that will be 18 in a month and I have been trying to teach him about money and credit and trying to teach him not to do what I have done. Your story here will be a good one to tell him.

Just remember how this feels and try not to let this happen to you in the future because next time it could be worse.

Good luck

Please, please take the advice from 2nband. If I were you, I would cut those cards up right now and like she said, if anything, keep one for emergencies only. Other than that I do not have much more to add but good luck and please don't get any more cards. Debt can completely consume and control your life, especially cc debt.

Hi Brian, perhaps you have learnt something valuable for your future from this mess and you will be able to control your temptations.

Calculate your total debts and consolidate everything under one payment plan. A debt counselor will figure out a perfect payment plan and negotiate with your creditors for a lower interest rate. He will also get most of the late fees waived off. Congrats for taking the first step towards achieving a debt free life.