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Cindyak123

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I am in dept owe 20,000 in credit cards finding it hard to make payments need help really bad

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Hi

Weigh your options. Is this something that you can dig yourself out of or do you need to consider filing bankruptcy? Either way the first thing to do is make some serious changes to your spending habits and keep yourself from going any further into the hole. While bankruptcy can seem like an easy way out remember that it will ruin your credit for a long time. It will stay on your report for 10 years. You may be able to get credit again even with the bankruptcy on your record but keep in mind that you will pay dearly in interest. You also have to see where you stand now in terms of credit scores. If they are still good then you may want to avoid bankruptcy at all costs. However if they are currently bad, then bankruptcy may be more of an option.

Like I said, first change your spending habits/lifestyle. Then sit down and do some serious calculations. Try to set up a budget to live on. What expenses can you get rid of? Where is your money going now? Knowing, understanding and accepting where your money is going are the first steps. Then forming a plan and sticking to it.

-where's your money going

-what can you do without and what expenses can you cut

-what can you sell that you don't need

-do you have too expensive of a car for your situation or too expensive of a home

Only you know your situation, so only you can come up with a successful plan, rest assured though that as long as you are determined life will get better, just keep at it and be persistent and patient. Things will get better, just make some changes. I wish you the best.

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