$15000 credit cards debt what do i do - Page 2

LifeisGood · #11 (**permalink**) 11-11-2008, 06:04 PM

Stop using the card, make payment to the credit card as much as you can.

shonna27 · #12 (**permalink**) 02-02-2009, 04:45 PM

I personally went through a debt settlement company that negotiated my debts down. It worked really well for me. 17,000 reduced to around 8,000. but if you are comfortably paying your cards still its better you pay them off on your own, but if you cant pay them anymore this works well

WJTrader · #13 (**permalink**) 02-11-2009, 10:01 PM

I think to control your credit debt now is simple.

- Stop spending
- Note all your incoming/outcoming finances
- Find other means of earning extra income

If you follow these simple steps, your debt wont be a problem.

AJorge · #14 (**permalink**) 02-20-2009, 12:44 AM

I have a good friend who owns a company that will negotiate your debt for a small %. If you only have $15K that's not bad. The average amount of unsecured debt a person will have that calls him is $40K. you may look into an option like that. His company will negotiate your total debt down to 50% most scenarios. I don't know the exact website, but if you google LibertyFinancialManagement it should come up. great guy to work with, very intelligent an good at what he does. hope this helps

RobertD · #15 (**permalink**) 02-20-2009, 02:04 AM

I know it feels like a lot right now but you are not in to bad a shape yet. My wife and I where in the hole for over $50,000.

You need to tighten your belt and set yourself up with a good personal budget.

Realizing you have a problem was the first step the rest are easier.

tnmccask · #16 (**permalink**) 11-13-2009, 04:02 AM

Quote:

Originally Posted by brian

1. Stop using them
2. Stop overspending
3. Use money you can save from not overspending to pay them off

If possible, also look to see if you can consolidate them into a single card with a 0% interest rate on transfers, to give you a little breathing space away from interest payments while you pay them off.

I hope that helps for starters.

You may want to also look into creating more income to put towards your debt. Also change your money management habits. Go on a money diet by cutting unnecessary spending out so that you can apply more to debt.

Lumber Joe · #17 (**permalink**) 12-05-2009, 07:07 AM

Cut your spending and and start repaying. What else can you do?

Kenny Golde · #18 (**permalink**) 01-23-2010, 02:05 AM

Quote:

Originally Posted by rogerthert

Arent debt management companies just about as bad as going bankrupt?

No, debt settlement can be a viable alternative to bankruptcy that does not require a court filing. Of course, just about anything a debt settlement company can do for you, you can do for yourself by calling the bank directly. But with $15,000 in debt like the original poster has, I would agree with the previous help. Make a tight budget, watch the money spent, pay it off by paying two or three times the minimum payment every month if possible, then don't use cards anymore.

Dallas Dollars · #19 (**permalink**) 02-09-2010, 05:39 PM

Try to contact them and see if you can get your rates reduced. Ask them if they offer a hardship program.

AlFromLA · #20 (**permalink**) 03-03-2010, 01:05 AM

If you can't pay off your CC I recommend bankruptcy if possible. I strongly recommend against debt consolidations because they hurt your credit almost as bad as bankruptcy but you still end up paying your debt back so whats the point?

If you consult a good bankruptcy lawyer \ consultant, they can help you erase your unsecured debt, start fresh, and if you follow their guidelines after a couple years you can start applying for loans again.

Since banks aren't really lending bankruptcy in my opinion is the best way to go.