Does anyone else have credit card hell?

I am drowning in debt. I know I know I shouldnt have spent the money. having said that and knowing that what can I do now, other than um die?

Does anyone else have credit card hell?

This time last year, I was $30,000 in debt and as part of my New Year resolution I wanted to become debt free and fell for one of the debt consolidation company comercials on TV. I did my homework and thought this was a firm that had a good reputation and thought the savings they could get by consolidating my debt was one of the best things I%26#039;d heard. You know that saying if it%26#039;s too good to be true then it usually is??? I thought I had finally found the ladder out of the pit of credit card hell. Boy, was I wrong. Three months within contracting with this company to mange my debt, my two creditors SUED me!!! Had I not hired a lawyer to represent my interest, the court would have garnished 25% of my wages regardless of my financial situation and I would have spent MONTHS in court trying to get this issue reversed! I ended up avoiding law suits by setteling my suits for a lump sum. My mother gave me a personal loan for the first suit and I ended up going to my local bank for a loan on the second suit. I also used the influence of my attorney to expose the false promises of the debt consolidation company and got a full refund from them after much debate. In the end I had to sign a agreement that I would not file suit against them in lieu of the full refund.

I hope my posting is warning to all of you who are seeing the advertisements for debt consolidation. They really hit the consumers hard at the New Year. The company I chose was even endorsed by an NBC news cast! After all this was said and done, I found out that I could have negotiated on my own behalf for a lower interest rate or developed a payment plan with my creditors. You live and learn.

If you are looking for a way out and do not qualify for bankruptcy, I would recommend you negotiate with your credit card companies, figure out a way to live within your means, or seek a personal or bank loan. Whatever you choose, be very wary of signing with a debt consolidation firm.

Does anyone else have credit card hell?

ah, i%26#039;m a thousand dollars in debt. and i%26#039;m only getting paid like 140 every two weeks! =(

Does anyone else have credit card hell?

You could get a job and pay down the debt. And then you can stop buying stuff that you can%26#039;t afford.

Does anyone else have credit card hell?

get a job...maybe two. WOrk you butt off till you pay all that debt off. Dont do any clothes shopping or shop for material possesions..sure it will feel good now... but not when ur scrubbing toilets at a dead end job to pay off that cute sweater you just bought. THats my advice lol. ONly buy things u need, like food...if you must buy clothes, use cash, and shop at department stores (sears, macy%26#039;s etc.)

Does anyone else have credit card hell?

Step one, cut up all those pesky credit cards!! You might see if you can get a debt consolidation loan to pay them off. Try to pay more than the minimum payment or you will never get anywhere. Most important, make payments on time so they dont tack on those crappy late fees!!

Does anyone else have credit card hell?

get yourself into debt management. they can lower your interest rates(which you could never do by yourself),put you on a budget,deduct your debt every two weeks automatically from your checking account and so on. it sucks. you have to make big sacrifices-you have to cut up all your credit cards in front of them and live on cash alone. i did it-it took 4 years but i%26#039;m now debt free! i hope you have a good-paying job-if not get another to supplement. good luck.

Does anyone else have credit card hell?

I was in debt about 10 yrs ago (student loans, credit cards and car payment). there are a couple of strategies you can do to help get out of debt. First - don%26#039;t accrue more! Watch you spending habits and only spend money on things you need and not want. Second - consolidation loan. You can get one loan to pay off all of the credit cards and that amount should be less than what you will pay. Again, don%26#039;t fall into the trap of charging your credit cards again and then have the consolidation loan to pay too. Third - don%26#039;t do a consolidation loan, but concentrate on paying off one card at a time. Pay the minimum on the other cards and double the minimum on one card. When you are done paying off the one card, use that money to pay off another card and so forth.

I would also recommend a second job in which all the money could go towards a card. At times I had to work three jobs to pay off all of my bills. In the long run, it taught me a valuable lesson not to over spend. Good luck and just remember that it will take time.

Does anyone else have credit card hell?

not any more. i filed chapter 7 two years ago. i pay cash for everything now. i learned to live within my means.