My credit card debt really got bad when I was working and living in one town and also paying the mortgage on my house in another town. I basically lived off my credit card since rent and mortgage took all but $100 of my paycheck. By that point I was paying $200-300 in interest alone, so paying it off wasn’t really an option…plus I never had the money to do it. Since that credit card i have taken out 2 more credit cards with 0% interest for 12 months in hope that i could pay it off by the time I started paying interest on it. Well of course that didn’t happen and now I’m stuck with 4 credit cards that I can’t pay off.
I’m sure you get basically the same question every time…How do I pay these credit cards off? I am currently unemployed for the last 3 months and also studying to take my Practice and Principles of Engineering in October. So struggling to get by now, but I would really like your input on how to get these cards paid off.
Follow this plan:
- Don’t go any further into debt from this moment forward.
- If your current benefits income only covers the basics, go bankrupt. Click here to find a local bankruptcy attorney and go talk to them.
- If you have a reasonable expectation that you will replace your lost income with a new job in the next 90 days then call your creditors and explain what is going on. If you can’t afford to pay the cards, don’t. It will hurt your credit but once the job starts you can get caught up.