I guess like most I have been following I am in debt from cc over use. serious debt to the tune of 90-100K.
Incredible. I can’t understand how it got out of hand so much and so quickly. I can’t even show you a big screen tv or pictures of some fabulous vacation or a huge new car to explain this debt. It is just nickles and dimes that added up quickly.
I am ok with my mortgage and car and 5 or so cc. But another 5 or so cards I am seriously delinquent and one even dropped me to a collection agency. These companies have been calling the house and work and I have been avoiding their calls. I can’t even begin to think where I could get money to offer them.
What do I do first…or second…or third….to try and turn things around? thanks for any guidence.
There’s probably more knowledgeable people than me who can give you more details, but I’d recommend that the first thing you do is lay out your budget. Can you pay your minimum payments on the current cards? What do you have available, if anything, to give to the old cards? Then pick up the phone (I’ve had to do this, it isn’t actually that bad). Call those old cards and try to set up a payment plan of some kind.
Then, do your best to stop using credit cards and stick to cash, and sloooowly pay everything down.
That’s a start, anyway. Anyone else? 🙂