Huge CC Debt - Advise Needed
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Posted by Hopeless in TX
(12.19.97.46) on September 26, 2003 at 09:43:24:
I am looking for some guidance and opinions here about the mess I have made for myself. I let the credit cards get out of hand and have no one to blame but myself, and now I am at a point of desperation. I have huge balances on numerous credit cards that total about $60K. I just received a pay cut where I work in lieu of a layoff as the company is suffering. Many of the CC companies have reduced my credit limit (good thing) and some have raised my interest rate to the max. I live in Texas and am current on everything, but it is a real struggle. I thought about a credit management company, but this board has given them mostly bad reviews and I might be worse off than I am now. My choices seem to be to continue trying to struggle to pay off the debt in the years ahead or give up completely, either BK or what?? I have a house, one car with a lien, a car for my wife (no lien) and a car for my son (no lien). I would appreciate any advise on what to do.
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