Posted on January 23, 2009 at 1:38 am Hi all!  I am 25, a college graduate, and I have decent job.  Because I had to put my self through college, I am dealing with about $30,000 in student loans and a total of $15,000 in credit card debt.  I recently moved which is where much of my recent credit card debt came from.  I currently have a total of 6 credit cards none of which are maxed out.  I am making all my payments above the minimum amount but I feel like my debt is not become any less.  I had recently recieved an offer for loan  from Bank of America through the mail, where I could consolidate all my debt and pay about $250/mo for 5 years.  I am currently paying about $700/mo.  This seemed like a great idea, but when I called I only got approved for $500.  I believe my credit score is between 650 and 700 and I have had a few (maybe 3 or 4) late payments throughtout the last few years but have always payed.  I don't mind paying my debt, but I just feel as if I am never going to get out of it. Does anyone have any suggestions, is it possible if I just go into a bank they will give me some kind of loan there???

Posted on January 31, 2009 at 9:55 pm If you can pay all of your card payments above the minimum payment comfortably, I think you will be o.kYou could try to pay the highest amount over min. on the highest interest card to get it paid off soonest. With that card gone, put that payment amount onto the next highest card. Soon you will have a few of the cards closed out and will be able to pay the rest off much faster.With todays economy it is getting very hard to secure any type of a consolidation loan ata reasonable rate of interest. Stick with your direction, and try to rid the high interest cards first. you will do fine.

Posted on February 11, 2009 at 4:53 pm I very much agree with getting rid of the most expensive debt first, that is pay as much as you can for the credit card with the highest interest rate. Keep paying the other cards of course, but pay them off, highest rate to lowest.It may not happen quickly, but as the highest rat debts disappear, it will get easier. Your aim should be to get rid of all or at the most just keep one or two cards, with interest rates you can live with. I just wish I would start listening to my own advice!

Posted on March 23, 2009 at 7:43 am What do you have charged on each card and what is the %.  Do you have available balance on any of the cards?  I am wondering if you would be able to switch some debt from the higher% card of to the lesser % cards and then make a bigger payment on the leftover of the higher% card to pay it off quickly. 

Posted on March 23, 2009 at 8:40 am Get rid of the lowest debt with the highest interest first, all the way up to the biggest debt with the lowest interest rate.

Posted on March 27, 2009 at 8:28 pm Even one late payment on a credit card (or any bill for that matter) may put you into the category of bad credit risk. When a credit card company deems you as a bad credit risk, they can raise your interest rates as high as 30% or more, depending on the default rate.  This process usually occurs because of universal default. It's just another ploy of credit card companies to charge you more interest.

Posted on April 1, 2009 at 2:39 am What you need to do is negotiate with your creditors.  For instance say your paying 14.9% on a card get them to do a short term 12 at 0% it will drop your payments and hammer those card while their is no interest.  If you would like to know more you can pm me.Good Luck

Posted on April 1, 2009 at 5:18 am try to stop using loans to pay of debts, this will ponly make the situation worse. try to cut back on what you r buying at the moment

Posted on April 1, 2009 at 7:38 am Hi there, for those credit card holders out there who are facing a lot of problems in settling your credit card debts and it's gets more and more with finance charges and late payment charges. How about applying a personal loan that settle all your credit card payment in one single payment and stand on one loan that for sure the interest rate is far more lower than the credit card charges.In this way you could plan your financial stability towards earn, spend and save.

Posted on April 2, 2009 at 12:37 am If you have late payments that would mean your behind and wont be able to get a loan. Consolidate with your credit cards drop your interest  rates and pay as much as you can.  There not going to give you a loan good luck