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.

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

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.

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

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.

I just don't think $15,000 is means to call for bankruptcy. Not when there's a person in another forum posting $140,000 in debt and going to commit suicide and wants to know how it will affect the family. The typical person is I believe $28,000 in debt, you are already ahead.

Here's how to do it. And the numbers are priorities, if say #5 will cause you to break #1, you can not do #5.

#1) Your goal is to avoid having to use the credit card, it is not to pay it off as soon as you can. Remember that goal... if you avoid using it the rest falls in line automatically.

#2) Make sure you have 100% direct deposit to your debit account.

#3) Build up a cash/debit account. You can not avoid using the CC until you build up cash in your debit account (checking/debit). Don't even think about it. Keep using your credit card, paying the minimum until you accrue 3x more than you typically spend/month in your debit account. It's going to cost money to save money.

#4) Once you have 3x more in your debit account than you typically charge/month setup an automatic fixed online payment and make it conservative. If your minimum payment is $300/mo setup an automatic payment to pay $400/mo even if you deposit well over that. Remember the goal, it's not to pay it off soonest but to avoid using it.

#5) Your debit account should on average grow each month, if it's not growing you need to reduce your payment (but not below minimum). You will have things like Christmas, birthdays, surprise car repairs. It never fails when your debit account grows to $2,000 you'll get hit with a $1000 car repair. It's okay, as long as you didn't need to use your CC.

#6) Use your debit card for all purchases.

#7) If your debit account accrues a lot of money like $3,000 that's when you enter a manual additional payment to the credit card and don't be crazy like put $2,200 to it bringing you back to nothing. This is lower priority than #5.

#8) If you get in trouble like have $2,000 in your debit account, and you must make a $3,000+ purchase put $800 from your debit card towards it (don't break rule #3) and charge the rest. Then stick to the plan it will all work out.

Cheers!

Try and make online payments MORE THAN ONCE A MONTH - as much as you can. Set an aggressive payment goal, stick to it, and get it paid off as quickly as possible, but don't cancel the account.

OK I really didn't read everyone's answer on this I apologize as I am at work I can't spend a lot of time reading. But what I would like to recommend is that, you contact your own credit card company to figure out ways to reduce debt. Tell them your on the edge and if they don't help you out, you will go BK.

Basically you work as your own debt consolidation. Talking about debt consolidation, I have seen then not helping anyone. In fact going to debt consolidation hurts your credit and you end up paying your debt.

If you really can't pay back your debt, BK is an option and it will actually help your credit.

Yes i agree that if you are finding it tough to pay on your own then you can go through debt settlement thats a very good option.