Knee deep in debt - so what else is new...

Hello everyone!

I'm knee deep in debt, and want to get out - but I can say that the end is getting further and further away it seems.

I currently have $57,000 in credit card debt. I can make the monthly payments - for now, but slowly the creditors are starting to jack my rates for no good reason.

I have had a solid payment history for close to 5 years now with all my creditors. I always pay on time, never have been late (ok well except for 2 cards last month when my son was hospitalized with the Flu), and have been a good customer all around.

Nwo that the rates are going up, the payments are going higher and I cant say how much longer I will be able to make my payments and make a small dent in the balances.

All the debt is in my name alone. I'm seriously considering BK and have started looking into my options. If the creditors would just lower my interest a little, or if I could consolidate at a lower interest rate, I'd be fine - and I'd be fine with paying it all off. But sadly it isn't working out that way.

I'm here to do some more research and hope that I find a miracle answer - although I know I probably wont. So at least then I hope to learn a little more about everything Smile

I have considered CCCS, but to be honest, I'd rather file a BK than ruin my credit with a CCCS. I know it sounds selfish, but I've worked too hard to let a CCCS kill my credit. I know there are things I can do to help like make sure all payments are received on time to the OC until the CCCS payments kick in, make sure all OC accept the CCCS offers, etc.

I've also considered trying to settle my debt, but with no spare cash, thats just a tad bit hard to do :)