I used two credit cards which have now decided because I was late on one, that they both would increase my rate to 30%. My balances are extremely high, and I do not know what to do. I have only charged a total of maybe $15,000 but because of the interest I now owe over $30,000 in only two years!!! I dont know what to do because I work on commission and I can only pay the minimums. If I got another job, I would not make enough to pay the minimums plus rent, bills etc. Does anyone know any ideas on how to get a loan to pay off the cards. I wouldnt even mind a loan for 15% if it got me out of the credit card mess. I feel like suing the card companies, I dont think they should be allowed to charge you more then I charged on the card. At this rate, I will be in debt $40,000 by April. What can I do? I dont want to do a Debt Reduction company, because I dont want to hurt my credit score. Even though I made on time payments, my finance charges are higher and go over the limit!
2006-10-27
08:33:54
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17 answers
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asked by
dnelak
2
in
Credit