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Debtconsolidationcare.com - the USA consumer forum

Please Help me Out of Credit Card Debt

Date: Wed, 10/25/2006 - 08:59

Submitted by anonymous
on Wed, 10/25/2006 - 08:59

Posts: 202330 Credits: [Donate]

Total Replies: 2


I have $5000 in credit card debt and really NEED to eliminate it as soon as possible. I got a card about 6 months ago to try and build some credit becuase when I purchased my first car, it was at a very high interst rate due to lack of credit. At that time, I was self employed and bar tending so income was never set in stone. I was averaging about $400 a week and plenty of hours, but than new management came along, and pretty much wiped out all the old employees. I was then left out of job for about a month and a half doing little jobs around the neighborhood such as painting, landscaping, etc. just for some cash to make my bills. I then fell into a corporate position with AON Corporation, and have a steady income now of $1333.34 every two weeks. However, my problem that I am encountering is that while out of work, I was charging things to the card and only making minimum payments. Now, with the job, I have to use the personal card to put my expenses on, and than wiat a week to get reimbursed. Due to my lack of credit, the credit card company gave me a low limit. Becuase I now need to use my card for business pusposes, I was hoping to be able to knock that debt out, make payments to a consolidating company, and just use the card now for business purposes. My credit started strong, but due to being over the credit limit recently, it has plumited. I have been makling payments on time however, but due to the interest being so high on the card, i'm only able to pay about $80 on actual principal. Please, I am really hoping that you can help me get rid of that debt so that I can be able to use my card for business purposes. Please, if there are any further questions, contact me immediately at 708-710-**** The quicker that I can have this handled the better off I am. Thank you and I really hope that we can work together to have the situation disappear.

Phone number removed for your safety - Bossy


Welcome to the Forums :D I don't know any way to get out of debt as soon as possible,other than to have the funds available to pay it off. Since most of us can't do this, there are other options such as consolidation, do it yourself ,etc. If you are financially able to pay more than the min. balance now, I would do so. Some credit card companies will lower or drop your interest, late fees etc., if you will make a payment over a period of time regularly,usually a year. Someone will contact you for your credit counseling and you can discuss some options with them. If you have any questions, feel free to ask.Good Luck!...Karen


lrhall41

Submitted by Bossy4455 on Wed, 10/25/2006 - 10:13

( Posts: 5854 | Credits: )


Most people go for debt management programs because of the high interest rates. All payments go towards interests alone. Late fees keep on adding higher and the debt never gets paid for long period. By this time, new debts may have already raked up in another corner.

You should go for a consolidation program and combine everything under one payment plan. You'll pay to the consolidation company and they will pay your creditors. Your accounts will remain current. This way the credit company won't be bothered about sending your file to some collection agency at the later stage. Consolidate now and avert a lot of problems in the future.


lrhall41

Submitted by aciotsf on Wed, 10/25/2006 - 10:49

( Posts: 511 | Credits: )