Getting out of debt

The only way you can bring your total debts down is by making larger payments towards the principal. Paying just the minimum won't help because the interests and fees are adding on each month, making the repayments even hard. In my opinion, you should talk to your creditors and explain your problems. Request them to lower down the interest rates and put your payment proposal. If you convince them that you will stick to the plan, they might offer you some extensions and you'll become debt free soon. In case you need some professional assistance, sit with a debt counselor. He will give you useful advice.

Welcome to the Community Jon :D Congrats on your marriage and baby! Since you have registered, you are entitled to receive a free credit consultation. They will discuss options you may have, such as consolidation. In consolidation you can put all your unsecured debt into one monthly payment, with lower interest. What I did was, I started with my smallest bill and started to make larger payments until I got it paid off. Then I took that payment and added it to the payment I was making to the next smallest one-etc.,etc. By the time I got to the largest one, I had alot more to pay on it and get it paid off sooner. I also called the companies and explained that I was going to pay these off, but need them to lower the interest so I could od it sooner. Feel free to ask questions, we are here to guide and support you in becoming debt free...KAren

Hi Jon

Congratulations on your marriage and the baby. I can understand what you must be going through. Starting a family is a big responsibility. Do not worry, everything will be fine. In my opinion you can talk to your creditors and let them know your situation. There are creditors who cooperate with consumers if they believe that they are making a good effort to pay off the debts. In the meantime you can also consult a credit counselor.

Good luck
Nelly