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Question By
trishlove

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I am so in dept from credit card over 11,500.00 what to do .?

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First is QUIT USING THE CARD!!! Don't close the account but don't charge another thing until the account is well paid.  You may have to consider getting a second job to help bring in more money and/or sell a few things you may have to help generate additional income. You want to make your payments as large as comfortably can be made, and avoid making only the minimum payment.

It is going to take a bit of effort on your part to do this but you can make it!!

Reply by
JLLowerDebt

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Also, consider contacting your local credit union for advise  (money management) or a referral to their financial counselors--who will help you make a plan (for FREE) to get out of debt.  They may negotiate with your creditors to help reduce your debt or payments, pending your situation. Another thing you could do is see bank rate dot com for best balance transfer deals and look at your credit score on credit karma to determine your chances for approval, then CALL (don't apply online) the new credit card to apply for a ZERO % balance transfer.  Once you transfer some/all your debt, PAY IT OFF BEFORE the 0% APR expires.  If not, then either transfer it back to your other, lowest APR card or do the whole process again until it's paid off.  I agree with the jwsister's reply that you should not use credit for ANYTHING until it's fully paid off.  Start learning how to save for a special purchase rather than pay in credit.Then use credit for necessities you can easily pay off each month.  This is the exact plan I'm in the middle of as I have even more debt than you do!  But I've already transferred one 12%APR to a 0% 18 month card and lowered my auto insurance interest rate from 7.4 to 1.75%.  If you're older than 50, you can take an online defensive driver test to lower your auto insurance payment 10%. Put all savings made into extra CC payments!  Including tax refunds!  Don't ever pay only the minimum payment required. ALWAYS scrape anything you can over that amount. Ideally, DOUBLE that amount or pay entire balance each month (once it's paid off). Hope this helps!  

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