advertisement
Reply
Thread Tools Display Modes
jesyka
Poohbah
 
jesyka's Avatar
 
Member Since Jun 2020
Location: U.S
Posts: 1,350
4
272 hugs
given
Default Jul 09, 2024 at 10:36 AM
  #1
Right now the combined total that I owe on 3 very low limit cards is $5900. I started working last month but my hours have been cut in half.

Next week I only work 16 hours!nlast month I got 32 hours a week. What a joke! I did get more hours when I asked for them, but they ignored my last text which isnít a good sign.

Anyways, I estimate that itíll take me 2 years minimum just to pay off the minimum amount each month

I only make $19 an hour. Once my credit card bills are all paid iff, will my credit score go up instantly or not?

Right now itís bad at 500 something. I canít even get a store credit card anymore!

Also once I start paying my credit card bills, theyíll never be late again.

My husband purposely paid my bills late all the time to keep my credit score low.

What else can I do to improve my credit score fast?

Will my past negative history prevent me from ever having good credit or being able to qualify for high limit cards with low interest rates again? We declared bankruptcy in 2000.

Once itís paid off, Iíll never get myself into this situation again.
jesyka is online now   Reply With QuoteReply With Quote
 
Hugs from:
VabGirl

advertisement
rechu
Magnate
 
rechu's Avatar
 
Member Since Apr 2016
Location: Somewhere in South America
Posts: 2,281
8
1,054 hugs
given
Default Jul 09, 2024 at 01:51 PM
  #2
I've been in that situation and was able to get out.

I agree that you need to be sure you pay on time. Those late payments just make everything worse. I'm not sure how your pay dates align with your credit card due dates, but if you can make your payments as soon as your salary is deposited, that would be best. Definitely set yourself reminders as well.

I know it may not always be possible to make more than the minimum payment, but try to do that as often as you can. Minimum payments are designed to keep you in debt. I think you said that you've gotten overtime pay on a few occasions. I'd immediately allocate that extra money to the credit card. If you get more hours than usual a week, try to use the money towards that too.

Good luck. It's hard, but it can be done.
rechu is offline   Reply With QuoteReply With Quote
 
Thanks for this!
VabGirl
VabGirl
Member
 
Member Since Jul 2021
Location: virginia
Posts: 317
2
35 hugs
given
Default Jul 09, 2024 at 07:19 PM
  #3
Sounds like you are making the best effort you can. Thats a good start.
VabGirl is offline   Reply With QuoteReply With Quote
The_little_didgee
Grand Magnate
 
Member Since Apr 2013
Location: Ontario Land
Posts: 3,585
11
Default Jul 13, 2024 at 04:46 PM
  #4
Getting out of this debt is possible. It just takes some determination, planning and self-restraint.

Unfortunately I cannot suggest ways to improve your credit score quickly.

Here are some suggestions to help you get out of debt:

Definitely avoid minimum payments as much as possible. Rechu is correct. Instead determine a higher but affordable monthly payment.

Determine which card will be your main one and only use that card. Cancel the other cards once they are paid off (especially the store variety).

You could try making a monthly budget and allocate a certain amount of funds for each week. Anything left over at the end of each week can be put aside. At the end of the month this extra money can be put towards your debt.

Finally, avoid impulse purchases as much as possible.



Good luck.

__________________
Dx: Didgee Disorder
The_little_didgee is offline   Reply With QuoteReply With Quote
Reply

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Thousands in credit card debt ó again NolaMae Bipolar 12 Feb 20, 2020 04:09 AM
Abuser won't let me pay down credit card debt with money I earned MrsA Survivors of Abuse 6 Dec 27, 2019 11:40 PM
do you have a credit card penguinsing Insurance and Finances 37 Mar 21, 2019 05:05 PM
Credit card....what should I do? Cocosurviving Bipolar 13 Apr 27, 2017 02:23 AM
credit card?? Lexi232 Insurance and Finances 5 Nov 30, 2013 02:23 PM


All times are GMT -5. The time now is 06:25 PM.
Powered by vBulletin® — Copyright © 2000 - 2024, Jelsoft Enterprises Ltd.



 

My Support Forums

My Support Forums is the online community that was originally begun as the Psych Central Forums in 2001. It now runs as an independent self-help support group community for mental health, personality, and psychological issues and is overseen by a group of dedicated, caring volunteers from around the world.

 

Helplines and Lifelines

The material on this site is for informational purposes only, and is not a substitute for medical advice, diagnosis or treatment provided by a qualified health care provider.

Always consult your doctor or mental health professional before trying anything you read here.