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I think my credit is good!!! but i have to much debt


turkish
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I checked my credit and now its up to 710 with experian. I guess it was never as bad as i thought, I just had high debt to income, which is still my situatiion. The only three negatives on my CR are 30 day late payments which are almost 3 years old now. I have 2 high cc balances and an auto loan. I cant seem to get a grip on these balances. One is $9700 the other is $5,000. Im pretty much fed up with this and its my goal this year to get these really low, i just need alittle advice and some kind of layout as to how i can achive my goal. please help with recommendations. I use to spend money everymonth on somethings that i dont do anymore, so that is going be a big help. I need some discipline, a guide. I need someone to really layout a plan for me. please help, im ready to tackle this debt. its so frustrating . I dont wana result to cutting my cards because it can just happen again. I need to make this happen because i want to have finaical freedom. I had a plan to transfer my $5,000 balance to a special offer of 0%apr but they denied me because of my debt to income ratio!!! So i can pay down the $5000 more because my $9700 balance has a 0% already on it. what sucks is taxes is coming up too in april, i would be very happen if i could get rid of the $5,000 balance and just lower my $9,700 . thats my goal.

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There's no magic here, and no sure fire plan. The path you need to take is simple.

Take all the card out of your wallet and either cut them up or put them in a drawer some where. (Cutting them up isn't a bad idea...and they'll send you new ones before you get this paid off anyway).

Figure out how much money you can budget each month for CC payments. You need to make at least the minimum payments on each card but be realistic...don't skimp on your other expenses, or you'll be tempted to "...oh gee...I'll just skip it this month...".

Take the money you've budgeted and divide it up among the cards. If you've got more money budgeted than the ORIGINAL monthly minimums, put the excess on the card with the highest interest. NEVER pay less than the ORIGINAL monthly minimum. If you manage to pay one off, use that to pay on the others.

In other words...promise yourself...from this day forward I will NOT use my CC and I will never pay LESS than today's minimum payment until the balances are paid.

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The same thing happened to me but I didn't have that high of a score...

I just had a pristine credit report with absolutely no negatives and no lates but way too much debt.

I had gotten one bills consolidation loan after another but then at the third attempt I was denied. And then everybody started denying me.

The only way to solve it is to stop acquiring more debt and to pay off what you already owe even though that will take years to accomplish.

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Look for new ways to find a little bit of extra money here and there and apply this to your balance. One area would be lunch. How much do you spend on lunch every day? Do you eat out? Even if you only spend $5 or $6 / day, try to bring lunch at least a few days a week.

If you burn premium gas in your car, try to use regular instead. Many cars don't require premium. If your engine doesn't ping or knock under load using regular, that's probably all your car needs.

All the little things can really add up.

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