Looking for some guidance please.
Date: Thu, 08/16/2012 - 07:31
I have over $40k in credit card debt as well as a large car payment and equity loan on our home. Our credit score is in the mid to upper 700s and i am trying to preserve that as well.
Our interest rates on our credit cards have skyrocketed due to late payments being made my American Express alone is at 27% i believe.
I'm really unsure as how to proceed and after reading here i'm afraid of being taken advantage of and don't know the best way to find someone locally to help me. I'm in Michigan, btw.
Any help is greatly appreciated.
What do you want to do?? Settle them? Use debt management? Ei
What do you want to do?? Settle them? Use debt management? Either way, it is going to affect your credit score.
The alternative is increasing your payments to them and getting them paid down. Working second jobs.
Living on a tight budget will help free up money. You didnt get into debt over night so you cannot expect a quick fix. It is going to take time and discipline.
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Budget cutting hints.
Cut or cut down the cable. Go basic. Get netflicks or use Redbox
Stop eating out....take lunch to work.
No take out coffee/expensive coffee drinks. Get a travel mug and make it at home. '
Take your own soda/water to work with you.
COUPONS COUPONS COUPONS ....I never go to the grocery store without my coupons. I probably save 30% at minimum each month by using coupons/bogo. FYI...shopping costco/sams club is NOT always the cheaper way to shop. Learn to unit price. I can get toilet paper cheaper at Walgreens/CVS when it is on sale than what the warehouse place charges. Check out coupondivas.com.
Thrift stores for clothing/ebay Pay a fraction of the cost by buying used. I had a $100 budget for my daughters back to school clothing. Between thrift stores/Kohls clearance racks with coupons she got 12 shirts/t shirts, 2 capri jeans, 2 regular jeans, 1 sweat shirt and a new pair of sandals from payless (Labels like Ralph Lauren, Chicos, Mudd, American Eagle, Lucky Jeans) Retail value almost $800.
Stop carrying cash...do everything by debit card. You can monitor your spending a lot easier and review exactly what you are spending.
