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| *Loan,banking and credit>>>credit debt |
Need Help with Credit Card Debt? |
What are my options? Have about 8k on credit cards :( Consolidation Loans can help a lot actually. Try here http://creditcarddebt-consolidation.org/... or your bank. You can't go wrong to exchange high interest credit card debt for a lower rate consolidation loan. Just be aware of any additional charges etc. debt consolidation.. or the "snowball" method, which involves payin only the minimum payment on all cards but one, this one you tackle hard, and you do this until all are paid off..I have 2k in debt and am debating myself, wish you luck! God bless! Don't consolidate an 8k debt. You'll end up paying more than you would if you payed them off yourself. Plus a consolidation loan hits your credit. The best way to budget money is to write a written budget. Give every dollar a name and a mission. Start your budget with essentials like food, clothing, mortgage, and utilities. Then list your debt. Include an entry for an emergency fund. This way you act your wage. Get an emergency fund of 1000 dollars in place before you start hitting the debt. There's no sense trying to save or pay debt if you have to hit the credit card when there's an emergency. Then pay minimums on everything but the smallest debt. Once that's paid off use that money plus the second smallest minimum on the next smallest debt. And so on and so on. So 1. Get a written budget in place 2. Save a 1000 dollar emergency fund. 3. Pay off debt. 4. Build the emergency fund to 3 - 6 months expenses. 5. Start investing 15 percent into retirement. 6. College fund 7. Pay off mortgage 8. Invest and build wealth. http://www.daveramsey.com There is a great place to go with this. I was in a very similar situation. This is getting help from real people without the use of banks or credit card companies. Good Luck! http://www.prosper.com/join/lzc5wh... JB is ABSOLUTELY right! Do everything he laid out. I have been following Dave Ramsey's plan for almost 2 years and we have paid off tens of thousands of debt (credit cards, car, etc) using his methods. Debt consolidation is paying for a service you can do yourself. Plus you need to learn how to budget your expenses and control your spending. Debt consolidation doesn't do that. Most people when they do debt con they end up going into more debt before 12 months is done. Doing a written budget and following it every month will be the best long term option. You will learn spending discipline and be changing your family tree if you decide not to use credit cards again! Read: The Total Money Makeover by Ramsey |
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