30K in CC debt, 100K income... what should I do
Date: Sat, 07/14/2007 - 18:03
My wife and I make a decent living, but we've mired ourselves so far in debt we can barely keep our head above water on a monthly basis.
Besides the 30K in unsecured high interest credit card debt we've got two car loans one for 16K and one for 3K and my wife has 30K in student loans.
We also have a Condo in Chicago with a 208,000 note
As a 24 year old I get to say I've done well for myself, I'm married to the best person in the world, we have a beautiful condo, and I have a pretty damn good job.
It's been pretty recent thing for me realizing we are so far in the red that it's going to take me a very long time to get right ways.
We decided to sell the condo in Chicago, we're not going to make any money, and we are loosing the most beautiful place to live either of us have ever had.
But we are moving to Pennsylvania, (I already moved actually) where she can be closer to her dad, and the cost of living is much less than the city of chicago.
We are hoping to pay back the credit cards in 12 - 18 months... we figure that after the condo has sold we'll have 2,000 a month to apply to high interest debt which we had been using to pay a mortgage payment.
Sometime in January we hope to purchase a modest home on a 15 year note, something in the neighborhood of $50,000. We'll live there for a year or so and then buy a nicer home for us and rent this "starter" home out.
I think we've got a good plan... it's just tough changing my spending habits, and getting over the "I WANT IT NOW" attitude I have most of the time.
I'm not good at delaying gratification, and that is going to be the most difficult part of this situation.
It's good that you have a plan and realize that getting out of t
It's good that you have a plan and realize that getting out of this isn't going to happen overnight. From what you have divulged, it sounds as though your accounts are all current. Have you thought about doing a debt consolidation program to get your interest rates lowered, hopefully enabling you to get out of debt quicker? Just a thought.
Sometimes it takes us a lifetime to realize that there is so muc
Sometimes it takes us a lifetime to realize that there is so much more to life then the things money can buy.You are startimg to realize this at an early age. So take advantage of that and change the way you live now.That's not to say you can't have nicer things and have a better car,home,vacation. What it means is that these things have a different value for you and you will decide when it is important to spend more and when it is important not to...
Yes, we are hoping to consolidate very soon... thats actually ho
Yes, we are hoping to consolidate very soon... thats actually how I found these forums.
Now it's a matter of finding the right company to get us a 30K loan at a fair interest rate.
I dont have any collateral, and I don't have any decent co-signers so that may be difficult.
Yes everything is current... I don't have a huge problem... I have a huge potential problem ;)
Is there anywhere I can read reviews of companies that provide consolidation loans?
