Slightly OT- Debt Advice?? :(

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ediekristen
Veteran Member


Date Joined Apr 2007
Total Posts : 1366
   Posted Today 12:55 PM (GMT -7)   
Hey everyone... Haven't posted in awhile, I've been losing track of days lately. I can't believe it's almost 2009. After this year, I really hope this next one brings better things.
Things have been so crazy. With moving back to Florida from Iowa and my boyfriend working minimal hours, I've managed to rack up $4,500 in credit card debt with another $600 in medical bills. It just adds up so quick, using the card to pay a bill here and there when I don't have the money or buy my birth control or school books or something.. And now I'm just overwhelmed. It's not the amount of the debt itself, it's the fact that it's spread out over like 11 different bills and it's sooo much to keep track of and worry about on top of my other monthly bills, and I'm only ever able to make the minimum payments which is just getting me nowhere, not to mention really not helping my credit.

I applied for a personal loan at my bank the other day but it was declined due to "limited credit experience" and not having a score high enough (they require something like 660 they said and apparently mine is under that.)

Do any of you have any advice on how one would go about getting debts consolidated? This is the only thing I can think of right now that would make it more manageable. If it was just one bill I could pay the same amount I'm making in all the minimum payments, if not more, and get it paid off much quicker and it would be so much less stressful. But I have no idea what to do! I plan on putting my entire tax return towards paying off some debt but February seems like forever away.

On top of it I got a collection notice for a doctor bill I forgot about so that's just one more thing to worry about. December is my least favorite month of the year cry  As if christmas isn't enough to stress about!! I hope everyone else is doing okay. Thanks for listening to me vent.

Female, 23, Ulcerative colitis (pancolitis) since 1999; GERD; gastritis; osteopenia in femur head & lumbar spine from long term prednisone use...

Current Meds:
Lexapro 10mg, Azasan 100mg

 
 

Post Edited (ediekristen) : 12/4/2008 1:43:08 PM (GMT-7)


getting by
Forum Moderator


Date Joined Sep 2007
Total Posts : 40574
   Posted Today 2:17 PM (GMT -7)   
What about a debt consolidation company? Maybe they could help you out. I am not the one to give advice, I just quit paying mine and let them take me to court. One I settled with and another just went away. They didn't show up to court. But it took a lot of years and I had a bad credit rating for a long time.

I hope that you can work something out.

Hugs Karen
  Moderator-Depression and fibromyalgia
 
fibromyalgia, Chronic fatigue, depression,allergies


jujub
Forum Moderator


Date Joined Mar 2003
Total Posts : 10391
   Posted Today 2:39 PM (GMT -7)   
Look for Consumer Credit Counseling in your area. Not the companies you pay who say they can get your debt reduced, the the not-for profit CCC that works with you and your creditors to develop a payment plan that you can meet. Consolidating your debts can be a trap, because you get a higher interest rate and a lot of encouragement not to pay the principle, so they can keep collecting interest.

Warning: CCC will take your credit cards away and hold them for you. If you are looking for a way to keep spending, they're not the people to see. But if you really want to get out of debt, they can be a big help.
Judy
 
Moderate to severe left-sided UC (21 cm) diagnosed 2001.
Avascular necrosis in both shoulders is my "forever" gift from Entocort.
Colazal,  Remicade, Nature's Way Primadophilus Reuteri. In remission since April, 2006.
"My life is an ongoing medical adventure"
 
Co-Moderator UC Forum
Please remember to consult your health care provider when making health-related decisions.


stkitt
Forum Moderator


Date Joined Apr 2007
Total Posts : 32602
   Posted Today 2:52 PM (GMT -7)   

Hello Kristen,

This is Kitt.  You have done what many people have done and the banks have encouraged us and still send out mail for more credit cards.

Here is the best info I have for you.

you can get help from an organization like National Foundation for Credit Counseling NFCC has branches throughout the country; they are a non-profit, community organization that provides free and confidential debt management advice to anyone who needs it. You can even consult with them over the phone..

Like other debt consolidators, NFCC gets paid by creditors, so it's in their best interest to work out a repayment plan rather than advise you to declare bankruptcy. Not that you want to be advised to declare bankruptcy, but in certain cases it may be your best option.

NFCC makes no outlandish promises beyond the prospect of a saner financial life, and the possibility of qualifying for their low-rate mortgage program. They also offer low-cost financial planning --

http://www.nfcc.org/

 
I am sure there are lots of other good sites but don't fall for one that wants a huge fee, or you could pay for it with your credit card smhair .  There are a lot of scams going on now so be very careful.
 
Take Care
Kitt
 

Kitt, Co-Moderator: Anxiety/Panic & Depression
& GERD  Forums
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It is health that is real wealth and not pieces of gold and silver.~Mahatma Gandhi~
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Aurora60
Veteran Member


Date Joined Jul 2006
Total Posts : 1249
   Posted 12/5/2008 6:11 PM (GMT -7)   

Hi. you have gotten some very good advice.  If you are still using your credit card you need to stop because you will not get it paid off if you keep running it up.  Also, if you received a notice from a collection agency about a medical bill try your hardest to work this out.  Get a payment plan that will work for you and they will agree to.  Having bad credit and a low credit score can keep you from anything from gettting a car loan to even renting an apartment to getting utility services. So do you best to work with a reputable credit counseling service.  I know how you feel - we are all in the same boat.  This economy is terrible and while we lose our jobs everyone is raising their prices. It seems like a no win situation for all of us.  I wish you the best and hope you can get things straightened out.  I know it is possible so just be sure to get the counseling. I hope you will let us know how you are getting along. Take care of yourself too.

Gentle hugs,

Aurora


getting by
Forum Moderator


Date Joined Sep 2007
Total Posts : 40574
   Posted 12/5/2008 10:39 PM (GMT -7)   
I was listening to the news this morning and they said that there was an average of job loss. That every five seconds, somebody loses a job. It is getting really scarey out there. I hope that things change when our new president takes office. But we know that it is going to take some time to fix this mess. So it wont be instantly. But I have faith that it will happen.

Best wishes to all,

Hugs, Karen
  Moderator-Depression and fibromyalgia
 
fibromyalgia, Chronic fatigue, depression,allergies


stkitt
Forum Moderator


Date Joined Apr 2007
Total Posts : 32602
   Posted 12/6/2008 9:22 AM (GMT -7)   

The good news is the price of airfares is coming down.  the bad news is I have no money to spend on any trips.

I will survive.  ((((((((((((HUGS))))))))

Kitt


 

Kitt, Co-Moderator: Anxiety/Panic & Depression
& GERD  Forums
*~*
http://www.healingwell.com/donate *~*
Not a mental health professional of any kind
It is health that is real wealth and not pieces of gold and silver.~Mahatma Gandhi~
Clickable Link: Anxiety-Panic Resources

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