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jesyka's Avatar
Member Since Jun 2020
Location: U.S
Posts: 1,341
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Default Jul 09, 2024 at 10:36 AM
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.
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rechu's Avatar
Member Since Apr 2016
Location: Somewhere in South America
Posts: 2,281
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Default Jul 09, 2024 at 01:51 PM
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.
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Thanks for this!
Member Since Jul 2021
Location: virginia
Posts: 317
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Default Jul 09, 2024 at 07:19 PM
Sounds like you are making the best effort you can. Thats a good start.
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Grand Magnate
Member Since Apr 2013
Location: Ontario Land
Posts: 3,585
Default Jul 13, 2024 at 04:46 PM
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
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