I need help with credit card bills - up to my neck in debt

Discussion in 'Personal Finance Q & A' started by XenMoney, Jul 13, 2016.

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  1. XenMoney

    XenMoney Newbie

    I need help with my credit cards bills. I have debt that is spiraling out of control and need help. I also need help with my energy bills. Everything is a mess and I cant see a way out. I'm not very good with my money and I can't seem to budget effectively. I spend impulsively and things are completely out of control. I have a total debt in excess of 10,000 dollars and I pay between 300 and 400 dollars a month but its getting harder and harder to survive. A friend of mine recommended this forum because they offer no BS advice. Please help! Not sure where to turn to.
    Miles and Alistair like this.
  2. Alistair

    Alistair Newbie

    First thing you need to do when you need help with credit card bills is to know that there is a way out. Your circumstances will improve, you will get out of debt and you will prevail. Seriously, YOU will Prevail.

    First thing you need to do is to fill out a income and expense form. This step is important because credit card companies may want this information. You must be accurate and include all your expenses and income.

    Next you need to find ways to slash your expenses. You should aim to cut costs by 50% or more. The faster and deeper you cut the quicker you'll be out of debt. You also need to boost your income. If you are eligible for welfare benefits then apply for them. If anyone owes you money recall this debt. The more you boost your income the quicker you'll get out of debt.

    If you can't make the minimum payment by cutting costs and boosting income you must contact your credit card company to let them know you're having financial difficulties. Send them a copy of your income and expenses and show them how you tried to cut costs and boost income. Ask the credit card companies to stop all charges and interest until you can get a handle on the debt because you fear it will spiral out of control. Most credit card companies will stop charges and interest if you are experiencing financial hardship.

    Your next step is to pay off the debt as fast ass possible. All the surplus income should be diverted to paying off your debt. Find ways to boost your income further. Donate plasma, participate in clinical trials, donate sperms, fill surveys online, blog for money, get another job, rent out the spare room, or even ditch the car to save money. Your aim should be to get of the debt once and for all because it is ruining your life.

    There is light at the end of the tunnel if you follow this advice.
    Miles likes this.
  3. Miles

    Miles Newbie

    Excellent advice @Alistair. The only contribution I can make is contacting a Free Debt Counselling Agency for help. It is very easy to get overwhelmed with debt and there is a temptation to bury your head under the sand hoping things will go away. If you feel overwhelmed contact a debt counselor to help. I wish you all the best.
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