I Think I Did Everything Right, But I Still Seem to be in Debt! – Bel

I have one single credit card, which I’ve had since 1998. When I went to debt counciling and we looked at all my sorces of debt, it was recommened that I consolodate everything (including school loans, travel exspenses, etc) on to my credit card because it had the lowest interest rate (about 6.5%). This worked well because my minimum monthly payments went down to about $230 a month. I should have no problem now, right? -Wrong. Between rent, car payment, insurance, credit card payment and other sundries, I end up spend just about all of my gross monthy income which is roughly $1600. I can barly save any money to actually pay off the credit card. I need a break or I’m going to go bust! At some point I would like to save money to put a down payment on a house and I would like to retirer someday from teaching. But I can’t do either with $15,000 in credit card debt.

]What do you recommend I do inorder to pay off more of my credit card debt? 2nd job seems to obvious and I don’t have that much time to spare for it. I’m a Speical Eduation teacher on my 4th year of teaching if that helps anyone. Please help!


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Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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