Jared ([info]explorerscout83) wrote,
@ 2007-12-17 05:10:00
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Current mood: stressed

Have you ever had that feeling that you are attempting to get out of a hole, and each time you think you are about to get out of the hole it gets deeper and deeper? Well that is how I feel with my debt right now. I have about 9,000 in credit card debt and a loan that has about 1,500 left on it. So I have just over 10K in debt. I am having a hell of a time getting out from under it. I hate this feeling. Shit I wish there was a way I could get out of this debt. I have closed all of my credit card accounts. They are not able to accept a charge any more. That is the good thing. Now just to get out of the debt. The big problem is the fact that all of the cards have a stupid interest rate of over 20% and that does not help at all.


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[info]jakflak
2007-12-17 05:25 pm UTC (link)
Try consumer credit counseling. They rock. When we moved on slope we had about $25k in credit card debt spread out over three cards (two VISAs and one Mastercard). All of our interest rates were in the upper 20's lower 30's and we couldn't even keep up with the late charges.

CCC has standing agreements with all the major creditors. We signed up for CCC and our Mastercard interest rate immediately (within the hour) dropped to 7% and both VISAs dropped to 0%.

The way it works is you make a single monthly payment to CCC and they disburse it. You have to sign a form that pledges not to get any new credit cards while on the program or they'll drop you.

It's 6 years later and our credit score is almost perfect and we have 0 credit card debt (and never will have it again). We've been out of the program for about 3 years. I can't praise them enough; they saved us financially.

Here's the web site:

http://www.moneymanagement.org/

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[info]explorerscout83
2007-12-17 06:03 pm UTC (link)
Thank you Richi. I need to find out some way to get this problem fixed. I will never have a credit card again. I have a Visa Check Card with Wells Fargo and that is all I need.

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