Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Paying Your Bills
Profile Image

Question By
JosephJSlama

1 Contribution
0 People Helped
Have a lot of debt, but finally have a good job...
A few years ago I was out of work for over 8 months and built up a lot of debt, after I had a job it was minimal pay and I was going to college which accumulated even more debt... I am currently looking at about $50,000 in total debt and was wondering what the best way to go about taking care of this would be.

Would a debt consolidation be good for me, or should I just handle it myself? It will take many years either way, but I am not familiar with any other ways then me making payments 1 at a time... any advice would help a lot.

Thank you all so much!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
13 Contributions
34 People Helped
Most Helpful Response

Paying your debt

Helpful to 1 out of 1 people

 I will never advocate debt consolidation.  There are a few decent companies out there, but so many are scams.  They charge you very high fees and pay little towards your debt.

Instead, take all your debts and list them in order of highest interest rate.  Pay them off in an order that makes sense to you.  Put as much income as you can towards making payments. 

It will be hard, because now that you're making money- you'll want to spend it!  Don't!  Clean up your credit, or you'll be paying a lot more for years to come.

1 Contribution
0 People Helped

P.S.

I make a decent wage now and am already planning on 3 significant raises within the next 6 months.

1 Contribution
0 People Helped

Nurse in debt

I tried this some years earlier and forgot.  But, I will line up bills and begin to pay highest ones off and get rid of my retail credit cards.   Thanks

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.