Credit Advice

You can opt-out from receiving promotional credit card offers at this site, or by calling the number on this site. This number should also be listed on the bottom or back of each offer that you receive, giving you the option of stopping this solicitation. Opting out lasts for five years. https://www.optoutprescreen.com/?rf=t You may want to post more descriptive information; e.g. bring home $1k per month, rent is $400, student loans $200, credit card bills $300 minimum; total credit card balance $xyz, total other loans $xyz. If you owe more in monthly payments than you bring home each month, you may need to declare bankruptcy. First, organize your finances. Keep pay stubs, keep track of each bill that comes in, and construct a monthly income statement for yourself. The order should be: 1) Take Home Pay 2) Less: minimum loan payments, rent, utility bills (excluding things that are "luxuries" like cable, cell phone etc. only include the necessities, like gas, electricity, food (but only necessary food, not eating out)) 3) Equals your personal "Gross Profit" 4) Less: All other expenses and luxuries 5) Equals your personal "Net Income" Compile this information for the past few months. Spend the few bucks to get a 3-hole punch and a binder and some dividers; you'll need to have some good information on hand. Go to a financial advisor and ask them if they wouldn't mind spending fifteen minutes doing some pro bono work to help you out real quick because you can't afford their services. Try until you find one that will listen. I think that people generally like helping people. Ask them what they think of the situation, and whether they can see any way out for you other than bankruptcy. If you can't pay your loans, you will not raise your credit. Until you get things set up so that you can handle the month-to-month expenses, your credit card will eventually be lower. Bankruptcy will lower your score a ton too, but will improve it in the long run if it leads to a situation where you can start meeting all the minimums. If you're borderline with regards to being able to make the payments, call all of your creditors and ask if they have some sort of a temporary interest rate reduction program or something.