To all the blog readers,
I am a new member to this wedsite.I am trying to keep up on all the bills. My question is how do I go about paying my balances down and still have money to live? I was unemployed for awhile about (4 years ago) and in order not to go belly up I used my credit cards and my line of credit to live. I was unemployed for about 6 months and have wife and 3 kids. The kids wouldn’t understand about when all that happen.I am from time to time robbing peter to pay paul and this can’t keep up. I need to relaese the some tension.
We always pay our mortgage/rent first.? Then car payments and utilities in that order? Try to call your credit card companies and negotiate a lower rate.? I put my cards in order of highest interest rate.? Any money extra goes to? that card.? Yard sales, rebates checks etc to that card.? I’m paying of the second one this month.? I have one more before my highest interest rate card.? I took an extra job watching my sister in laws son to use to pay of cards.? If you have friends who work see if you can find someone who needs to get to work early and offer to put their kids on the bus. I only charge a little big so it saves her money and she works. That money is extra for me. Best of luck!
It really depends on your situation. If your main problem is credit card debt, I would call and try to renegotiate your terms. Do NOT talk to the person who answers the phone–they can’t do anything for you. Ask to speak to a supervisor. Some CC companies train their phone support people to quiz you about *why* you want to speak to a supervisor and try to not play that game. I have found this answer to be very helpful: “Oh, it has absolutely nothing to do with you at all. However, last time I called in, I was treated very rudely (blah blah blah) and I really need to speak to a supervisor.”
If that doesn’t work, keep responding with, “I need to speak with a supervisor” and once I even had to tell them that I was recording the call and my lawyer would be in touch with them if they didn’t get me a supervisor.
If they won’t negotiate your interest rate, Suze Orman has recently said that if you quit paying for a few months, they will be more than happy to negotiate with you after that. I’d do that as a last resort, though because you are going to accrue some nasty late fees and quite possibly wind up with a higher percentage rate than what you’ve already got.