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!
This reader question was submitted for site members to answer.
This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.
If you have a credit or debt question you’d like to ask just use the online form.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
- Plastic Pandemic: US Credit Card Debt Surges Nearly 20% in Q1 2021! - May 12, 2023
- The IRS Resumes Collections Notices: What You Need to Know Before It’s Too Late - May 12, 2023
- How Can I Deal With Payday Loan Debt? - May 12, 2023