I'm trying to get my life back! I need help on credit management.?

Question

I was on oprah site looking at the debt diet. Im 21 years old and have $14,000 credit card debit. I need to do something or im never going to be able to have credit ever again. I found this website www.usdoj.gov/ust and found a counseling service but i dont know if its a good one to go ot. i live in illinois and was thinking about the bloomington one. By the way i am currently working and going to school full time. So its not like im just not doing anything about it. Any suggestions?

By the way im not charging on my credit cards they are all over the limit. I can barely afford to make min. payments...

Answer 1

Congratulations on your efforts to get your life back, firstly.
i think your first step should be to cancel your credit cards, and not worry about not being able to have credit again.

If you haven't got the money on hand, you can't spend it unless you have a credit card. Lay-by the things you want instead, and make sure you really want everything you buy!

All the best!

Answer 2

WWW.daveramsey.com. He is a financial counselor, who has also been on Oprah. He has a radio show where he helps people get out of debt and stay out of debt.

The only way to get out of debt is to live on less than you earn.

The first step is to cut up your credit cards. There is nothing that they can do for you that a debit card cannot.

Next, you have to live on a WRITTEN budget. First thing you buy is food. Then utilities, then housing, then transportation. Credit cards get paid last.

Then, list your debts from smallest to largest and pay as much as you can on the smallest balance, and minimums on the rest. When the first card is paid off, put that money with the min. you were paying on the second, and so on.

Sell everything that you don't need and put that towards your debt. Stop all retirement contributions. Get a second job. As a college student, you could do tutoring for all these kids who spend too much time on the internet.

Dave Ramsey has financial counselors that he endorses all over the country. He doesn't make any money from them, they just teach what he does. Go to his website, and click on ELP (endorsed local provider). Also check out his show, you can find a station that carries it on his website, too.

Answer 3

Hi, Read the following articles and you will most probably get ur life back :)

What is credit-counseling service?
http://www.askaquery.com/Answers/qn492.html

Debt Consolidation - Get Out Of Debt
http://www.askaquery.com/Answers/qn1643.html

How to Hire a Debt Counselor?
http://www.askaquery.com/Answers/qn1584.html

What is Debt Relief?
http://www.askaquery.com/Answers/qn1583.html

Debt Management and Building Wealth
http://www.askaquery.com/Answers/qn1581

How to lower your debts?
http://www.askaquery.com/Answers/qn1576.html

How to reduce debt : How to lower your expenses?

http://www.askaquery.com/Answers/qn1577.html