[USER]

My husband and I have pit an enormous amount in credit cards the last year and a half with very very high interest
Most cards are maxed and now out credit score has dropped 200 points.

We clearly don’t have the money to pay them off. Weve cut them up bit since it has dropped our credit score to 500’s we can not get a loan.

If I call the creditors would they help us since I had to take a step back from working yo take care of serious health issues.

Do they do that if so what do I saw when I call them.

It’s killing us in interest rates. What a mess

[Jimmy]

Personally leveraging my 401k to cut my debt I did the math the loan is a drop compared to the thousands a month my interest is

[Christine]

Neither of you has a job? How are you living? Creditors will not do anything to “help you.” They will negotiate settlements if you have stopped paying the minimum.

I know there are mixed feelings about Dave Ramsey in this group, but his Financial Peace University is truly made for people like you and your husband.

[Neka]

Not sure if your age or health but I’ve heard of others donations plasma and joining the military part time for the bonus and credit card benefits

Pick up a part time work from home job
Rebudget

Call cc company and ask for help with paying debt. Just keep that simple.

Tell the truth and see if they have solutions.

[Cole]

What is enormous amount exactly? Stop contributing to retirement accounts, sell everything. If that’s not enough consider 401k loan or debt relief lawyer.

What is husbands income and when will you likely be back to work at what income?

[Max]

Dave Ramsey’s baby steps could be beneficial to you.

[Bruce]

Dave Ramsey Baby Steps and Debt snowball. I’m a graduate and after 15+ years still use a budget and have no personal debt (including house, cars, RVs) that isn’t attached to a cashflowing asset.

[Jon]

Are you back to work? Dave would say you need to increase your income and don’t buy anything you don’t need and sell everything you can to pay off debt.

[Patti]

You can call your credit card company and ask if they can lower your interest rate. And call every few months because they offer different interest rates at different times

[Mark]

A loan and ur credit score should be the last thing on ur mind. As other have said, u need some Dave Ramsey in ur life.

Look up his 7 baby steps and listen to the podcast

[Jeremy]

I would look to see if you can negotiate with the card companies through a hardship program. Or I would look to do a balance transfer to a 0% card so you can chip away.

You could also look into a lower interest personal loan if you could ever get approved for that.

Interest on credit cards will destroy your finances if you don’t knock it out ASAP.

[Author]

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