Ugh...bills.

[lovechild27]

I made some horrendous choices with credit cards when I was young and on my own. I am back in college now, paying for it myself and a car and working only part time. I am trying to pay off these damn bills my asshole ex helped me run up...ya ya...shouldnt make excuses...

But I am having one hell of a time. I want to so badly to clean it all up! I am paying little bits at a time. Anyone have the same prob, and if so how did you fix it?

 

[Velius]

Just take it one step at a time. Or something.

 

[peachykeen]

Hah. Wait til you buy a house. Then you'll know debt like you never knew before....

 

[Nora]

There's a non-profit organization called Consumer Credit Counseling Service with locations all over the country. They offer free assistance in consolidating debt and formulating repayment plans. Get in touch with them and they'll be able to give you a hand. Here's one of their websites: Click here

 

[Weird Harold]

But I am having one hell of a time. I want to so badly to clean it all up! I am paying little bits at a time. Anyone have the same prob, and if so how did you fix it?

Step one: Make a budget and stick to it.

Step two: Pick the biggest bill and concentrate on it. Pay the minimum on everything else and pay at least twice the minimum on your targeted account -- everything your budget can spare is better.

Step three: Repeat Step two for the second biggest problem.

General thoughts:

Decide in advance which credit card(s) you plan to keep and destroy the others. A VISA or Mastercard with a reasonable credit limit is a good choice, because it can be used in place of most "store" cards if you need it.

If your budget permits, you can double the minimum on the "keeper" and still pay big on the ones you're trying to kill.

Using a cash advance (or balance transfer draft) from a low interest account to pay off and close a higher interest account can save you some money in the long run on interest charges.

Get rid of any account that charges a monthly service fee and interest before getting rid of accounts that only charge interest.

Once you've got things under control, NEVER pay less than twice the minimum payment if you can help it. If a credit card company gives you a "free month" by stating a minimum payment of $0, pass on the opportunity and send a payment anyway. "No minimum payment due" usually means, "We're not making enough money on the interest you're paying and we want you to let it accumulate."

Consumer Credit Counseling Service is a good place to go for help because they can get some payments rescheduled at lower monthly increments and help consolidate other debts. They can also help with building a budget that you can live with.