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Mom Confessions Mom Confessions

I have extreme credit card debt! Where do I start no bashing advice only please!

Anonymous
Posted by Anonymous
  • 215 Replies

I don't know how but less than two years ago I had less than $3000 owed on 1 credit card now I have $30/$40 k in credit card debt!  I stopped paying all cards in April because interest was crazy!  I don't even know how!  I make $7000 a month!  And have nothing extravagant to show for that type of debt!  Help me!  How do I figure this out!  

Posted by Anonymous on Jul. 26, 2013 at 11:53 PM
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Replies (1-10):
Anonymous
by Anonymous 2 on Jul. 26, 2013 at 11:54 PM
12 moms liked this

KristenFowles
by Ruby Member on Jul. 26, 2013 at 11:54 PM

 Bankruptcy?

oooomelissaoooo
by Member on Jul. 26, 2013 at 11:56 PM
4 moms liked this

yikes. umm pay the one with the highest interest rate first.

invisibleme
by Platinum Member on Jul. 26, 2013 at 11:57 PM
14 moms liked this

Stop paying the minimum payment when you pay CC bills, contact the card company and reach a settlement offer with payments or talk to a bankruptcy attorney. Minimum payments barely scratch the interest on a card monthly. I'm so glad we are credit card free if there is no cash we don't buy it.

vegaswife2011
by LMAO on Jul. 26, 2013 at 11:57 PM
2 moms liked this

Start with your smallest boll and go from there. Good luck!

Anonymous
by Anonymous 3 on Jul. 26, 2013 at 11:57 PM
1 mom liked this
I would consider debt consolidation if you are unable to make the payments. We tried that before bankruptcy but my DH then lost his job, and we went through with the bankruptcy. But they reduced what would have been 30 years of payments into 3 years. Worth it!
got2monsters
by Ruby Member on Jul. 26, 2013 at 11:57 PM
2 moms liked this
Is it all legit? That sounds like maybe something fishy is happening with your accounts.
team_porculoon
by on Jul. 26, 2013 at 11:59 PM
4 moms liked this
Pay the one with the highest interest first. Throw as much as you can at that one, pay the minimums on the other ones until the highest one is gone. Repeat with the remaining ones until you can pay them off.
KyliesMom5
by Platinum Member on Jul. 26, 2013 at 11:59 PM
26 moms liked this
Get the book total money makers over by Dave Ramsey
momto3nuts
by on Jul. 26, 2013 at 11:59 PM
3 moms liked this

Honestly a debt consolidation company should be able to help you reduce your debt and get you a single payment. Try them first.

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