5 years ago I started using credit cards and unfortunately was not taught the correct way to use them. Now I'm struggling with around 8,000 dollars of credit card debt and not sure what to do. I've been trying over the last year to start to pay off my cards one by one, but with the money I make my payments end up just getting eaten up by interest.
I'm at a loss of what I should do. I went to my bank and they gave me no options -- they just told me to pay off my cards like it was an easy thing to do. On top of that I also have around $30,000 dollars of student loans to worry about. I only make around 160-200 dollars a week on average with my job, so I'm anxious and nervous all the time. I've thought about bankruptcy but I've had people say how that will ruin my credit and I'll never be able to buy a house or a new car. (Some things I don't even thing I need right now -- I plan on getting an apartment and well I'd only buy a used car)
Honestly, at this point I just want to actually have money so that I can save for an apartment and other needs I have. My credit cards have made me so broke I can't even go see any doctors and saving money for a new used car is impossible.
I came on here hoping I might find some people who are more knowledgeable about these things to give me advice and maybe point me in the right direction. I don't want to be scammed and when I search online for debt relief I don't know who to trust.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.