Posted on November 2, 2009 at 11:00 am I'm recently divorced and have built up a lot of credit card debt due to the divorce.  I have a large child support payment that has made making ends meet very difficult.  My credit is very good, in the high 700's and have not paid any credit card bills late up to this point.  I own my home but recently refinanced and am sitting at 80% LTV.  I'm at the point where I can no longer make ends meet and an paying utility bills a month late so that I can make my minimum payments on my CC's.  I've been paying my house and car payment on time as well as my CC's.  I need to reduce or stop making some of my CC payments so I can make ends meet.  I'm proud of my credit score and would rather not stop making payments and get forced into bankrupcy.  Is there anything else I can do?  I had called a consumer credit agency and was told that since I didn't have any late payments they couldn't help me.  A financial adviser has told me I should call the CC companies and try to get the debt reduced thru a settlement.  Any advice would be greatly appreciated!

Posted on November 3, 2009 at 1:02 am Your financial adviser is right---you can get the debt taken care of thru a settlement. That way you won't have to pay for so much and use the money left over for your other bills.