credit HELP!!!!!

Discussion in 'Credit Talk' started by flightrail, Aug 26, 2003.

  1. flightrail

    flightrail New Member


    I am new to the room. My wife and I just bought a house we have a bout 30k in credit card debt. I was wondering what we should do. Pay the min or try to get credit counseling help to reduce the interest. We are never late on bills just doesnâ??t seem like we are paying them off. I don't want to hurt my credit by using counseling. Any info would be appreciated.

  2. Poochie

    Poochie Well-Known Member

    If you haven't already, read the posts at the top of the page including Psych Docs excellent credit repair primer.

    I know it's tricky trying to save money after you've bought a house, but my recommendation would be to put yourselves on a strict budget - eat in, ditch cable and dsl, edelay any non-necessary house purchases etc - use the extra money towards the principal of your highest APR card. Keep making the minimums on your other cards. Once you've paid off the first card, apply the amount of that monthly payment to the card with your next highest APR and so on. If you haven't already, transfer balances to cards with the lowest APRs, or negotiate with your existing creditors to lower you APR - use if necessary.

    Good luck!


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