Anonymous asked in Business & FinanceCredit · 2 months ago

2 Loans and 2 maxed out credit cards, what do I do?

So I’ve got myself in a pretty bad situation over the last few years. Not having much knowledge on credit cards or loans, I got myself into some bad debt. I won’t explain how exactly how I got into this debt, but long story short, I’m about $12,300 in credit card debt and $4,600 in personal loans (not including interest). I’m located in Washington if that matters.

What do I do at this point? I’m currently unemployed due to covid, but am getting unemployment benefits (not much either since they are no longer sending the additional $600). National debt relief programs aren’t an option because of the long payoff period and destruction of my credit score pretty much. 

An tips and guidance would be appreciated, no need for negative comments as that won’t help me at all.

7 Answers

  • Anonymous
    1 month ago

    Okay first off don't try to put this on covid-19 you probably had this debt way before and you could have paid it off a long before you even got to this point you are an irresponsible person you have taken too much credit and loan too much money if you are so desperate and wanting to pay off your debts there are many jobs out there right now stop trying to say you can't get a job they're out there FedEx UPS ABM all these companies are hiring go get a job and stop making excuses and pay your debt

    Source(s): I know exactly what this person is they are an ABC deadbeat
  • Andrew
    Lv 5
    2 months ago

    File bankruptcy if your living paycheck to paycheck . If not see if can lower the interest rates but you have to make a decision really quickly.  Those intrest rates are piling up real fast 

  • Anonymous
    2 months ago

    You can start crying right about now 

  • 2 months ago

    There's no secret program out there that will magically make your debt vanish.  Until you have an income, there's no point in worrying about your debt.  You need to solve that problem first, then you can work on an approach as to how you're going to tackle your debt.  

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  • 2 months ago

    Do your parents love you and trust you ??  Do you have a car you can borrow against? [9% interest is better than 18% interest.] {Or sell the car ??} [Complain to Jay Inslee. He is the one that shut down the economy.]

  • Anonymous
    2 months ago

    Telling you to work 2+ jobs and stop spending would be "negative" in your mind, I'm sure. So nevermind.

  • Rick B
    Lv 7
    2 months ago

    Listen to Dave Ramsey, check out his book from the library, look at his website.  Follow his plan.

    Babysit, mow lawns, walk dogs, pressure wash sidewalks, drive for Uber, etc.  Earn as much as you can and start making extra principal payments to the loan with the lowest balance until it is paid off, then roll all your extra income into the next debt, etc.

    Before you do anything, save up a $1,000 emergency fund so you won't have to use credit any more.

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