52,205.46 in credit card debt

I think it's really great that I came here and decided that the time has come for you to get out from under this burden!

Money issues are sooooo stressful!

There are so many members who have been through the same thing you are trying to do right now...get out of debt. They were successful and you will be too!

As a member, you have access to a free consultation with a debt counselor. That will be a great first step and they may have some advice for how to get started.

One important thing I've always been told is that taking out a loan is not the answer to settling debt....it only causes more of a problem. Adding debt to debt doesn't make it go down. As you read, you'll come across those who have taken out payday loans, etc. in the hopes it'll give them breathing room...but it does the opposite.

It's going to take a lot of hard work to get through this but YOU WILL! Get on a strict budget and live within your means...there isn't a company out there who can do that for you.

Others will be along to help you out as well :)

Hi,
I am in a similar situation as you. I was told by a co-worker that ACCC is non profit and they can help out to "manage" the debt. I have contacted a place which was going to charge 15% - hence not helping the monthly payment ... but reducing the number of years. I did not get a good vibe from them. They do claim they can cut the debt 40-60%. Please be very careful about this. My close friend paid an upfront fee of 3000 to a company to help her reduce the debt. They took the money and did not make any payment to the creditors. They vanished and my friend could not do any thing about getting her money back. As I mentioned I am in a similar boat as you and I am trying to find a way to reduce the debt. I got many good ideas from the wonderful community here. I am relatively new on this site, but I am trying to get as much information as possible. And please please please if you find a way...share!!

Normally I would say thats great but i am seriously at a point where I am considering filing bankrupt because I do not have the means to pay off these debts. Along with the late fees and overdraft fees I simply see no way out or no hope to get out of this situation

I'm sorry you're feeling overwhelmed.

Maybe it would be a good idea to at least go speak with a bankruptcy attorney...see what it's truly all about...how it's going to benefit you and how it'll hurt you...that way you'll have a clear picture to see if that is a solution for you.

I was told that in order to quality for bankruptcy, you should have worked with debt management for about 3-6 months. I am not sure how accurate this info is. I am also getting closer to bankruptcy. First place I contacted, they said they can not help me reduce the debt. They offered help to reduce my expenses. I told them I am at bare minimum budget right now and there is nothing left to trim. I have been getting mixed messages. I hope it works out somehow...and very soon.

I was told that in order to quality for bankruptcy, you should have worked with debt management for about 3-6 months. I am not sure how accurate this info is. I am also getting closer to bankruptcy. First place I contacted, they said they can not help me reduce the debt. They offered help to reduce my expenses. I told them I am at bare minimum budget right now and there is nothing left to trim. I have been getting mixed messages. I hope it works out somehow...and very soon.

ok what about debt settlement? How would that work and what would be the best way to go about it? If my credit takes a hit now I feel I can recover as I am still young.