I have credit card debt and need help. I have $3000 at 14% interest, 10,000 at 18%, and another $17,700 at 18%. As of right now our mortgage and all these cards are paid up. I had been late on a mortgage payment about a month ago, but this too was caught up. However, we are self employed and right now the money isn’t coming in, so I am trying to be a little proactive. In 2010, we made after taxes only $10,000, hense some of the debt above. In 2011, we made $39,900 after taxes. But this year we have made only about $8,000 so far. We pay alittle more than the minimum on 2 of these and the minimum on the 3rd. I feel like we are never going to get out of this hole. We own our home and also have a $9,000 equiline balance. We have cut up our cards and no longer use them even though the accounts are still open. Creditors will not lower our % rates.
Would you recommend Chapter 13 or Chapter 7? I just want this all done with. I don’t want to lose the house…but I would really like to get rid of the credit card debt.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.We Want Our Credit Card Debt Gone. - Erin by Steve Rhode