[Blondiepa1]

I am 23 and in a LOT of debt, a LOT esp credit card debt.

I was wondering if any of you have or are in a lot of debt and what you did/doing to get out of it? I currently have a long distance relationship with my boyfriend and we have decided that by March of next year we would like to live by one another. He is currently in FL getting his masters/specialty degree and will not be moving back here (PA).

I honestly do not know what to do-- do I try and pay of as much debt as I can before I move and just GO w/o any saved? OR postpone the move which honestly would be the last thing I would want to do? Or just pay the minimums and save to move?

I currently take care of the developmentally disability and I get paid 10.03/hr I am trying to get as much OT as I can at work and my goal is to do 40hrs of OT every 2 weeks. But I am still not able to save that much. Its really really depressing.

What is your advice?

[soc wkr]

How much debt are you talking about? Have you tried talking to a credit couselor? That would be one suggestion, but I would try to save and put down whatever you can toward the debt also. Any OT you get shoud maybe be used to pay down your debt, that's what we do when my hubby get over time, if we have accrued some debt, we use the extra money to help pay that debt down. Good luck!

[Blondiepa1]

I am honestly in $10,000 CC debt- I know you're going to gasp and OMG horrible. I didnt realize how bad I was until it was $9,000. Now I see and I am trying to take the steps but am lost.

SOC- ty for your advice. Right now it is to the point where I have to have OT in order to cover my bills and make my car payment with very little left over. I will try out what you said.

[Cini]

Hello,
It's worrying for sure.
How many cards with debt do you have and can you consolidate them onto just one or two? It's much easier to keep track of things that way. Do you pay interest on the balance or did you put it all on cards that offer the promotional 6-12 months at 0%.
If you pay interest, how much do you pay? Call the credit card company and ask for reduced interest rates. Sometimes they will do that, especially if there is the danger of them having to eat the whole thing.Filing bankruptcy may be an option if you are so deep into it that you really can't get out. It will mess up your credit score for a few years. If you go to a debt relief service, make very sure you understand what it is they are offering.
Paying just the minimum is not a great idea

[tifftiff8]

I feel your pain. I have been there and done that. I would suggest that you either consolidate what you can at the lowest interest rate possible or....write down all of your credit cards, the amount owed and the interest rate of each one.....starting with the one that accrues the MOST interest...do what you can to pay it off first. That doesn't mean to not pay your other bills. I would pay the min on the others and all the extra possible on the one with the most interest. Then continue down the list in the same manner. It may take a while and it may seem like a sacrifice but just like the weight you have to push through and do what is right. I think I read in another post that you just graduated in 2006. Are you living on your own? If so is there any way that you can get a roommate or move back with your parents? Look at what your monthly expenses are and determine what you can do without. You are going to have to make some sacrifices if you want to get this done and I would suggest that you do whatever you need to do!!! I know that you don't want to have to postpone moving with your boyfriend but sweetie....take it from a woman that has been there and done all of that....(i have a son that is 23 so I can give you SOME advice) You have alot of time for all of that! This is about you and your future! Your credit is important! Do not go into a situation with your boyfriend or any other man with a whole bunch of debt. At least have it to where your debt is manageable. Things happen sweetie and you want to always be able to take care of yourself!!!!!!!!!!!!! Let me say that again.....YOU NEED TO ALWAYS BE ABLE TO TAKE CARE OF SELF!!!!!!!!!!!!!!!!!!!!! YOU come first!!!! Get your credit straight and don't mess it up again and don't allow anyone else to either!!!!!!! I had to learn the hard way. You can also go on a website called clarkhoward.com he has different tips and a call in program where he can give you excellent advice. I also know that even though you are paying some things off, you still have to save something for you too. So sit down and make sure that you always take out something to put away even if it is $5 or $10. It will make a difference.

[BiggerNoMore]

Go to your local library and check out Total Money Makeover by Dave Ramsey. Follow the baby steps and you'll turn your life around faster than you'd think possible. It really works!

[TishaO2]

I completely understand where you are coming from! I filed Bankruptcy at 21(2001) and I am still suffering from the decision. I was working fulltime making 9.00 an hour, I just bought a car and moved into my first apartment. I was doing overtime too to make my checks larger. The most OT I did in two weeks was 58 hours! I was so tired. My advice to you is to 1. NOT file bankruptcy. They make it look ok on TV but in the end it's not worth it at all. I had about $28,000(stupid college credit cards!) and I paid back $10,000. Even though I paid people back, it still looked bad. I wasn't able to get financed for a new car until 2006 and my intrest rate is AWEFUL but I had to take it because I needed a new car so bad. So, I would say to make sure that you are at least paying the minimum ON TIME and if you have anyting extra apply it to the principal only. That way, it will take the balance down which shows up on your credit reports. Even if you don't have extra money to pay it, just make sure you pay it on time.

With you moving out of state, I also did that last year. I actually had planned on moving about a year before I actually did and was able to save up a pretty good size amount. I was able to pay rent and all my bills and relax in Vegas for about 3 months before I started looking for a job. Any money that you can save~do it. It will benefit you in the long run. I stopped going out to dinner and shopping just so I could have the extra money. That alone I was able to save about 200-300 bucks in a month. I also saved all my spare change too. It sounds kidish but I had saved 600 bucks in quarters by the end of the year! I just took 20 bucks from each check and got a roll and put it in my "bank". Anything helps. I hope you get all your things handled Believe me, I know what your going through!

[Blondiepa1]

Ty ty ty for your support and help. I was able to get a lot of good advice and I see there is light at the end of what I thought was such a dark dark tunnel.

[MaggieinATL]

Don't file for bankruptcy! Creditors will work with you. Get yourself to Consumer Credit Counseling. They will help you. Do you live on your own or with your family? If you can get roommates or move home, try to-it'll help you save more money.

I watched one of my best friends go thru this and man, it was HARD but she did it! She sold her car, moved home with her parents, got with Consumer Credit Counseling, and worked like a dog. But, a year later, she had cleaned it all up!

[Blondiepa1]

Long story..... I used to live alone until my sisters husband left her and my two month old niece. That was two years ago. I can't move home due to my parents not having any room- after I moved out when I was 20 my parents adopted two childern. So unfortuantely they have no room and they def dont have any extra money in which they could help me out.

I am going to try and just put everything extra I have towards my CCs and work towards paying them off.

[i82much]

See I just filed for bankruptcy chap 7 and it was the best thing I could have done. My credit was already shot. the bankruptcy could only make it better. I tried everything else and that was the only real option for me.

[thin4good]

Have you been late on payments? If so, how many? Are you paying the minimums on all of them at this point? How many credit cards are we talking about here?

Secondarily, does your BF know about this? When I had some debt from college, I was soo afraid to tell my fiance about it, but honestly, I did, and he helped me keep it all in perspective. I was able to get it paid off in a year. Takl to your parents, your sister your BF, granted they may not financially make it better but it's not something you're hiding. My sister tried to hide her debt because she didn't want people scrutinizing every decision she made, but honestly she just kept getting into more debt that way.

The first step is admitting you have a problem that needs to be addressed, and you need others to know it's a problem. That way they are supporting you. YOu don't ask someone on a diet out for a fattening meal, you don't ask a recovering alcoholic to a bar, and you don't ask someone trying to fix their debt issues to go shopping or go spend money out in an evening! I hope that helps put it all in perspective!

Best of luckl!

[Blondiepa1]

I have never been late on a payment. Thank goodness.

No my bf doesnt know about the debt- he wou