Comments on: “I Have Over 15 Credit Cards and $30,000+ Debt ” – Help!

By: J. Money

J. Money — Mon, 06 Aug 2012 14:32:50 +0000

I know! All y’all who share your dirty details with us get major points in my book too :) Just shows everyone’s working hard to dig deep and work their way out as best as possible!

By: Cat@BudgetBlonde.com

Cat@BudgetBlonde.com — Mon, 06 Aug 2012 05:16:06 +0000

I think its really great (and also kind of scary) to put yourself out there like this! Bravo. All of us have had junk and debt we have to pay back. I personally have 6 figures of student loan debt, so we are working hard to knock that out! I can’t wait to read more about your journey and I hope you rock it out!
Best,
Cat
aka
Budget Blonde

By: J. Money

J. Money — Sun, 29 Jul 2012 14:24:09 +0000

Work it, bro! I think that’s an excellent idea – it def. helps with motivation :) People will say to go with the route that financially makes more sense with the numbers, but ultimately you have to do whatever feels the best for you in your situation. And I tend to go w/ the smaller snowball route too over the factually correct way cuz it makes me more excited…. I’m currently doing that right now w/ our home mortgages – I’m paying the smaller one off first, which has the lowest interest, and then I’ll tackle the bigger one. Gotta do what’s best for you!

By: Tom C

Tom C — Fri, 27 Jul 2012 03:19:14 +0000

Ok so good news and bad news. The bad news is I still have 15 credit cards. The good news is my count was off and I only owe $25,000. So that’s good. My smallest is $230, my largest is $9000. I’m going to start with the snowball method and get rid of the smallest ones first. I will be visiting the various websites posted and making sure I have all the best possible methods to achieve this.

By: Manette @ Barbara Friedberg Personal Finance

Manette @ Barbara Friedberg Personal Finance — Thu, 26 Jul 2012 15:26:18 +0000

Dear Reader,

I envy your guts for getting that much credit cards and car loans without sufficient thinking of their effects to your finances. It is high-time that you make necessary changes in your lifestyle to pay off your debts. Why do you need two cars? Is it possible to sell one or both cars and get a second-hand car instead? I suggest that you also need to spend less and look for additional sources of income to pay off your credit cards one at a time.

By: Martin

Martin — Thu, 26 Jul 2012 04:29:21 +0000

This is a tough spot to be in. I give the reader major props for coming forward. That was the tough part. Now it’s time to hustle!

If you come to my site Tom and send me an email, I would love to shoot you a copy of my eBook that deals with credit.

By: Jenna, Adaptu Community Manager

Jenna, Adaptu Community Manager — Wed, 25 Jul 2012 18:35:33 +0000

Curious what the reader’s follow up email was.

By: Tom C

Tom C — Wed, 25 Jul 2012 17:28:36 +0000

I think this is going to help me out. I think I can make a “small series” of this if I can get started and keep the momentum going. So I think I’ll check in with regular updates.

By: J. Money

J. Money — Wed, 25 Jul 2012 17:22:49 +0000

Love these conversations going on!! This is what is awesome about finance blogging - real people and real situations!! Thanks so much again Brad for doing all this for me while I'm out, and thanks to the Tom, the reader who sent this in and for all you commenting so far! I hope it all helps! :)

By: Tom C

Tom C — Wed, 25 Jul 2012 17:02:25 +0000

I understand people that don’t have a choice. I have a choice. I choose no bankruptcy.