Tink1o5

NeyNey

Personally I'd see a financial planner. It may cost a bit initially but they can set up a system to help you have money to live while paying off debts

Holldoll

First you need to make a budget that you can stick with and stick with it. Then I usually tell clients to pay off the CC or loan with the smallest balance, pay the minimum payment on all your other debts and apply any extra to this loan. After that card is paid off, not only will you feel better, but it's one less loan that you have to think about paying, therefore you will have less late or over balance fees (most people that are in debt pay a lot of these). You then pay on the next card with the lowest balance. Apply the amount that you were paying to the first card to the second card. Now you are paying the minimum payment PLUS the amount you paying to the first loan. Do this until all the cards are paid off.

ryder

Basically what Holldoll just suggested... When I went to school and had lots of credit cards and things to pay off this is what I did... Find things you can cut down on, luxuries persay, dont buy things on credit at all. Save your money for big purchases and pay in full, this will keep you out of debt.

The only bills my OH and I have are our mortgage, car insurance, regular house bills and phone and internet. I still have some of my student loan, but otherwise everything we've bought has been paid in full... And we are not considered high income, id say we are pretty average.

Banks are also the worst people to do a line of credit with, I went with them for my student loan and it was the worst experience ever. They are probably one of the worst groups to deal with harrassment-wise.

Stephie 25

we've got big debts, i contacted a charity, consumer credit counsling services, they have been fab. went through everything with them and they set up a payment plan. they contact the creditors and everything for you. it's all free and they have been fab with us.

Chris77

There are debt consolidation companies. Try Debt Free America. They can negotiate with your credit card companies to get interest rates and payments down so you pay only 1 payment to the consolidation company.
Good luck!

Vickie

Holldoll gave you some great advice! That's what we've done and it's really helped get us out of debt more quickly

armychicmkm

A debt consolidation company will actually hurt your credit rating. You can setup the same thing with each individual credit card company yourself - and the credit card company doesn't charge you for the service. The only advantage the a debt consolidation gives you is paying only one bill each month - you don't have to keep track of each and every debtor yourself.

Holldoll

DO NOT GO THROUGH A DEBT CONSOLIDATION COMPANY!!!! It's only one step above claiming bankruptcy and it will stay on your credit for 7 years. Like Army chick said, you can negotiate with the cc companies yourself. Just keep asking for someone higher up until someone will help you. If you are VERY diligent about it, you can take advantage of the 0% interest rate offers, but you really have to keep track of when they are coming up and make sure they are paid off before then. I don't generally recommend doing that until you have only 1 or 2 left and can keep track of them.

Elli21

Personally, we had CC, loans, overdrafts etc...we got one loan to pay them all off.
We made sure the payments suited the amount we could afford to pay off by the length of time the loan was repayed in etc.
Now, we have a loan payment coming out every month...thats it.