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Stupidity with credit cards.

Date: Sat, 10/20/2007 - 15:53

Submitted by anonymous
on Sat, 10/20/2007 - 15:53

Posts: 202330 Credits: [Donate]

Total Replies: 4


I am very much in debt, living paycheck to paycheck by racking up credit cards. I also did it behind my husbands back to keep our family afloat. He just recently found out about it and it all hit the fan. Actually, he was pretty calm. Anyways, I'm not sure where to turn now. I have been speaking with 2 debt relief programs, but it's a little scary. We have no lates on our credit reports, but our debt to income ratio is way too high. Also, it would take years to pay off the cards. Any ideas? If we go with a debt relief program, our credit will be messed up for 36 months, but then we would be debt free.


Welcome to the Community :D That is a decision you and your husband will have to make. Just do your homework before you make a major decision.

You said it would take years to pay them off- is it so much that talking to them about lowering or dropping your interest ,wouldn't be an option?

What ever company you decide to go with, if you do, please check them out with the BBB, and others who have used them through completion.

You need to consider that at some point you may become late if you are living paycheck to paycheck, and that will hurt your credit also,not counting the debt to income ratio.

Feel free to ask questions-you aren't alone-many of us have been where you are-there is help and hope! I takes time and effort, but it can be done--keep us posted..karen


lrhall41

Submitted by Bossy4455 on Sat, 10/20/2007 - 16:01

( Posts: 5854 | Credits: )


Yes, please utilize the free consultation as kashzan suggested! it's free :) and you may get a wealth of information and potential options you didn't know about. Good thing to hear is that your spouse is now involved because you guys are a team and must tackle this together. while it is difficult for your partner to know about this, you will be surprised at the support you will get! let us know what you hear from your 2 debt management options, hang in there. It may take years to pay off, but at least you're trying. and you also mayb e surprised at how short of a time it could take you too, you just never know how your situation may change. lots of folks are here for you, please keep in touch


lrhall41

Submitted by debtstinker on Sun, 10/21/2007 - 15:15

( Posts: 288 | Credits: )


Hi herford. Welcome to the forum. :-) Please, please don't be hard on yourself. I have been EXACTLY where you are. I did the same thing, and behind my husband's back, too. Before I knew it, I was in so deep that it will be years before I get out, too. But, letting him know was a huge relief. He was angry, but not because I didn't tell him about the credit cards. He was angry because I carried it all on my own...I'd be willing to bet that your husband is probably feeling the same way. Now, you have a chance to clear it all up and to be a team.
Good luck and I know things will work out. :-)


lrhall41

Submitted by eleroo on Sun, 10/21/2007 - 17:41

( Posts: 1220 | Credits: )