Re: Huge CC Debt - Advise Needed

Posted by Andrea (207.7.7.214) on September 26, 2003 at 11:44:59:

In Reply to: Re: Huge CC Debt - Advise Needed posted by Samantha on September 26, 2003 at 10:11:27:

I would not advise bankruptcy. It doesn't matter how much he makes either (and it is no ones business)I would suggest calling you credit cards and tell them the TRUTH. You are not behind on payments and tell them you want to keep it that way but your decrease in pay has caused you financial hardship and can they work with you, lower your payments for 1 year, lower the % rate. I did that when I got divorced and EVERY card company worked with me. Possibly look to transfer balances to lower rate cards. Some offer a low percentage rate for 6-12 months if you transfer a balance. As for budgeting, that I agree with....life has to change for you now that you make less money. I know it's hard to go from one lifestyle to another but you need to prioritize...in my state we have "budget billing" for electric and gas companies where they do an average of your bills and it will be that amt. every month, It ends up averaging out between summer and winter. Search around for a cheaper car insurance may help too. Sit down and actually LOOK at where your money is going every month. To save money buy generic groceries, cut coupons, eat at home...I have found that by eating in you save so much. Eating out was our biggest expenditure when I finally sat down and looked at where my money was going. A Cell phone may save you on long distance since most plans do not charge you more for long distance calls or if you need ahome phone, search MCI, Sprint...call all of them and see who has the best deals. You will be ok, do not contemplate bankruptcy and ruin your credit when you still HAVE a job. Work with the creditor, they understand people get into financial troubles and they would rather you come to them BEFORE it goes to a collections situation.

Follow Ups:

Post a Followup