Help- credit card debt!!!?

I have the following debts:

Wells Fargo Mortgage- $62000.00

Citizens Auto Finance- $25000.00- Behind 3 payments

Debt Consolidation Loan- $18000.00

GE Money Line of Credit- $8000.00

Chase Credit Card- $5500.00- Behind 3 payments

Sears Card- $1600.00- Behind 2 payments

JC Penney Card- $1200.00- Behind 4 payments

Wal Mart Card- $1500.00- Behind 1 payment

Natural Gas- Behind 4 months

HELP!!! I only make $45000 a year before taxes!!!

Help- credit card debt!!!?

First CUT UP THOSE CARDS!!!!!

Next you need to try and cut down the debt. If possible refinance and consolidate- though I see you have a Debt Consolidation Loan... so if you can, do it.

If you can%26#039;t, of course pay the highest interest rate cards first. Or calculate the amount each card will cost + interest in the long run according to the amount you owe.

Next sell your car, or give it back, obviously you can%26#039;t afford whatever type it is. Buy a used car -or even better, use public transportation, a bicycle, or your own two feet.. Who cares if the car is nice, when it%26#039;s costing you an arm and a leg?

Next you have to CHANGE YOUR LIFE STYLE, as in cut your other expenses

Take shorter showers- get wet, turn off water, soap up, rinse off.

Turn off lights, go buy energy saving light bulbs. Don%26#039;t use heating for your house, if you%26#039;re cold suck it up and wear a damn extra sweater. Similar if it%26#039;s burning up outside, only use a fan, carry an ice pack, go around with light clothing.

Learn to cook, at home, no exceptions. Brown bag your lunch.

From all the store cards you have I%26#039;m guessing that you buy a lot of things- either pawn them, or sell them on ebay.com, half.com, amazon.com etc.

Have a garage sale and get rid of your junk-it%26#039;s amazing what people will buy.

Try to work overtime.

If you live by yourself, consider getting a roommate to cut costs, or move into a cheaper place.

Does this all sound stupid?

It%26#039;s lifestyle choices that will help you from now on, even if you file for bankruptcy, because the choices you made were the ones that got you into the debt.

If you buy stuff to keep up with appearance and to impress people, you%26#039;ll only look a fool later because they%26#039;ll be hearing about your bankruptcy.

Make a strict budget. Don%26#039;t break it, or get frustrated and say F-this. It%26#039;s what will keep your from going into further debt, or in the future, from falling into the same cycle. Living within your means, it what will allow you to live comfortably.

Help- credit card debt!!!?

1st pray for Godly wisdom and insight. My recommendation would be that if you have equity in your home, refinance and consolidate a lot of those high rate cards and then cut them up! Run from credit cards never to return using them.

Help- credit card debt!!!?

You can get probably get a free interview with a bankrupcty attorney.

Keep paying on your mortage and car payment (if you want to keep the house and car).

Help- credit card debt!!!?

You need to contact Consumer Credit Counseling so that they can help you create a budget and negotiate pay off for your debts. Your credit card balances show why debt consolidation loans is usually not a good idea because they don%26#039;t teach you how to live within your means.

Help- credit card debt!!!?

What about a Consumer Credit Counseling.

They work with the credit card companies and they atleast get your payments lowered.

Plus they help you get back on track.

Make sure you keep paying on your mortgage and auto loan, otherwise you will lose your house and get your car repossessed.

Consult with a lawyer about filing for bankruptcy.

Good luck

Help- credit card debt!!!?

A simple calculation shows that you can%26#039;t realistically pay off this amount of debt on your income. That gives you three options.

1. Contact your creditors, explain your situation, and try to get them to agree to stop charging you interest in exchange for a payment plan to pay off the principal. If you can allocate 1/3 of your income to debt payment and live off the other 2/3, you would be out of debt in about eight years. Remember, though, that this won%26#039;t do any good unless you get a realistic payment plan and then stick to it.

2. Get a second job that pays enough to live off while you%26#039;re paying down debt. It looks to me as if about 100% of your current income would have to go to debt payment, unless you get some relief from your creditors, as in option 1.

3. Declare bankruptcy. With your debt, this may be the most realistic option. A Chapter 13 bankruptcy, where you make partial repayments and get forgiven the rest, might easily end up looking a lot like option 1.

Help- credit card debt!!!?

Go to www.nfcc.org.

They should help you figure it out; renegotiate your debts to lower the amount of interest you are paying; help you create a budget so you can pay off the debt and not get back into it.

Do not fall for another loan consolidation or %26quot;credit counseling%26quot; by a for-profit company.

Help- credit card debt!!!?

Sell the house.

Sell the car.

Sell anything else you can think of. With all the credit card debt I%26#039;m guessing you have a lot of stuff.

Get a second and or third job.

Get on a written budget. List essentials first, then debt. Pay for essentials (mortgage, food, utilities, etc) before you pay any of the credit cards. I see you have a debt consolidation loan, so it%26#039;s not like you need to worry about your credit score anymore.

Never use a credit card again.

Reread what mirrorinthesk wrote then give that answer best answer.

Help- credit card debt!!!?

I agree, Mirrorinthesky gave you a good answer.

Here are some good websites for long-term help and financial education:

http://www.bankrate.com/

http://www.crown.org/

http://www.daveramsey.com/

http://www.debtproofliving.com/

http://www.debtorsanonymous.org/

http://www.slice.ca/Shows/ShowsPage.aspx...

Also, as a way to get free household items you may need, join your local Freecycle group, in which people offer stuff they no longer want to some one willing to pick it up:

http://www.freecycle.org/

God bless! Good money management is a learnable skill, so don%26#039;t lose hope! It takes practice, discipline, and education, but you can do it!

Help- credit card debt!!!?

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