Posted on: 20th May, 2010 11:23 pm
Have a secure job paid at $58,0000 a year. Large family and surmounting credit card debt. Over the past year my card interest rates have skyrocketed, now 17-21% range. Total credit card debt is $35,000. House payment is $1300 with taxes and insurance, balance on house $164,000 (lucky to sell for that now). My credit card bills are totaling about $687 a month. Check to check living and sinking deeper, only able to make minimum payments.
Have a new job offer at $64,000 but 400 miles away. More money but debt is holding me back, nobody will offer a consolidation loan for my multiple credit cards. Can't get another home loan because of my current debt on home, even if I had a renter. My credit score was 720 about 1.5 years ago and has dipped to the 689 range. Feel myself sinking wondering if bankruptcy an option, or bad decision to take the better paying job, what are my best options.
Any advice is truly appreciated.
Have a new job offer at $64,000 but 400 miles away. More money but debt is holding me back, nobody will offer a consolidation loan for my multiple credit cards. Can't get another home loan because of my current debt on home, even if I had a renter. My credit score was 720 about 1.5 years ago and has dipped to the 689 range. Feel myself sinking wondering if bankruptcy an option, or bad decision to take the better paying job, what are my best options.
Any advice is truly appreciated.
see: "www.daveramsey.com"
[Link deactivated as per forum rules. Thanks.]
[Link deactivated as per forum rules. Thanks.]
Why did these credit card companies jack the rates up so high, I was doing fine paying my bills on time and then bam 17%-29%? Now I am freaking going under, they are going to bankrupt half the damn country!
Did you ask your creditor as to why they suddenly raised your interest rates?
I did ask them and the answer is pretty much because they can and did. Only one changed it back to a 7.99% because I had some documentation indicating it was fixed at that rate for life when I signed up.