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Help! I'm drowning in my debt!
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Posted by Desperate in Florida
on January 29, 2002 at 11:59:28:
Unfortunately circumstances over the years have resulted in my husband and I being $25,000 in credit card debt. Both of us have spotless credit thus far, largely in part because I've been charging minimum payments to different cards for the last6 to 8 months. Not helping!! I've done this in an effort to keep my "perfect" credit score. Stupid really, I can't afford to buy anything anyways. I've gotten to the point that in order to pay my bills, I've been charging some of my food and neccesities of life. I have 2 credit cards that total about $15,000 that are solely in my name. I had considered sacrificing my credit and trying to save my husbands. Question is...is that possible? From what I've read settlements aren't a good idea. I can't make my payment without charging it. I keep thinking things will get better financially but I don't know when. Should I keep trying to hang on? Should I call the company and try to get a lower payment? My other fear is both of these cards have fixed interest of 5 and 7% for the life of the balance. I will forfeit those if I miss a payment. This burden is enormous. Is it possible for only me to file for bankruptcy? Or does my husband have to be a party? I just found this board, glad I did. Sorry so long...HELP!
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