I'm trying to pay off my credit card. I owe about

I'm trying to pay off my credit card. I owe about $6,000 and still have to make payments on school loans and I owe money to my Mother for paying off my car. Every payment I make seems to just be for the interest and isn't making a dent on the actual amount. How can I pay this off fast?

3 Answers

Unless the poster has collateral, he is not going to get a consolidation loan.  And I wouldnt suggest debt relief either...that will tank his scores.


You have to pay more than the principal every month to get ahead.  Suggestions for you...

Get a second or part time job....use that income to pay off your credit card.

Tighten your budget. 

..Drop or lower your cable...go to netfix streaming.

...Pack a lunch for work.  Even with a low average of $5.00 for lunch, that adds up fast.  I figured packing a lunch 4 days a week was saving me on average $120 per month.  Talk your own water or soda to work..another huge savings.  I gave up my $4 grande lattes daily habit....now I use a travel mug and a small thermos and pack my own.

....coupons for grocery shopping

----buy clothing used.  Check out consignment and thrift stores.  I havent bought anything new for over 2 years except for undergarments.  I am wearing high end clothing which I paid next to nothing for.  Liz Clairborne pants...$55 new at Macys, I paid $1.75 at a thrift store. Fresh Produce cotton tshirt...t-shirts on their website run $40...I paid a $1.00!  My purse was a $3 find...worth almost $300 on the web.

It will take hard work and sacrifice to get out of debt....it wont happen over night.  I started living thrify to get out of debt....debt is gone and I still live thrifty....it has become standard practice.



How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states

Nelly has a good suggestion for you. But always remember to discuss your latest financial obligations with the credit counselor before you enroll with such debt relief services. This will help them offer repayment terms that suit your actual financial strength.

You can take advantage of debt consolidation to pay off your debts, You can take out a debt consolidation loan to clear your outstanding dues. The interest rates on these kind of loans are quite low. You'll only have to make a low single monthly payment on the new loan. Henceforth, you won't have to worry about multiple bills anymore.

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