In debt to my eyeballs, starting with under-employment and day care for three kids, including infant twins, 10 years ago. Paid cash for day care and put everything else on credit particularly when husband was unemployed. Snowballed from there.
Now have a loan from credit union (less than $10,000), two massive credit card balances(roughly $12,000 each) and other cards that would be manageable if I could do something about the two big ones. My husband helped me out some, but I need to use the massive cards for some expenses and ran them up again. Was late on payments fora time, which torpedoed my rating.
Cash is scarce even though I’m pulling down $140,000 a year. Pathetic. But my monthly payments are killing me. Can’t do anything with the credit union. Don’t want to deal with any more credit cards.
And afraid to tell my husband that I’m drowning, since he’s helped out before and I’m now back to where I was. His credit rating is very good but he just got us a daly needed new car. One child ready for college in another year.
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.Is Lending Club a Good Place for an Unsecured Debt Consolidation Loan? - Mary by Steve Rhode