Should I consolidate? I dont want to ruin my credit.
Date: Sat, 05/22/2010 - 19:05
I am currently in about 35,000$ worth of credit card debt but I have an excellent credit score. I dont want to ruin that but after making my payments and trying to pay a little more I end up living in my credit cards until the next pay day...Im not sure if I should do consolidation or if there is a way I can negotiate with creditors myself???
If you are living off your credit cards just to pay your credit
If you are living off your credit cards just to pay your credit cards, what good is having good credit? You are living in a credit nightmare cycle. Your rating might be good but what is the point? You cant afford to buy open any more credit.
If you want to get out of the credit card cycle, you may have to tank your scores for awhile. Sure you can negotiate with your creditors, but paying anything different than your normal monthly payment or higher is going to lower your credit. Consolidating will also end up closing all your current cards.
