I Just Got My Job Back, and I Am Playing Catch Up on My Bills. – Nicole

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“Dear Steve,

I just got my job back, and I am playing catch up on my bills.

Between my husband and I, we have about $2800 in credit card debt. I tried calling to get my interest rate lowered, but all they said was when an offer comes aound that you qualify for, then we will lower your apr. I am paying 31% on my credit card, and my husband’s card turned from a $300 credit limit to a bill for $800. His card has not been used in more than 3 years. How can I get the interest rate down?

Nicole”

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  • Tricia

    You probably won’t get the interest rate down thru your credit card company. Look into taking out a small loan but look at all the fine print. I’m sure with being out of work you have probably done the following but just in case: cut your cable or reduce your plan, look into using only your cell phones instead of having a landline too. Don’t eat out, clip coupons for groceries. Analyze your insurance coverage- could you increase a deductible, change companies and save money? Do you have a extra vehicle you don’t really need or items around the house you can sell to get extra cash. Pay off your lowest balance first then roll that money up and start paying off the next lowest. It will pay off to be a penny pincher for a while longer. Hang in there! You are headed down the right road!

    • http://GetOutOfDebt.org Steve Rhode

      Hi Tricia,

      Thanks for all the time and effort you invested answering questions. Much appreciated.

      Steve

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