Anxious over debt

iVillage Member
Registered: 07-16-2004
Anxious over debt
2
Tue, 09-06-2005 - 6:58pm

Hi! I am a single mother of a 13 year-old boy. I have a tremendous amount of credit card debt. I do pay each bill on time every month, but unfortunately, due to the high interest rates, the balances do not decrease. Also, I have read online that the credit card companies are going to double the minimum payments - which I cannot afford. I have paid off one credit card back in March - and I am trying to pay off another card - more than the minimum payment required. Usually when I get my income tax refund, that's when I try and pay a card off or at least a big chunk of it. I was doing okay for a while, but then like everyone else, unexpected medical bills come up, car maintenance/repairs, etc. But on the plus side, I do not use credit cards anymore! I pay only with cash.

I work full time, receive child support, and clean two houses - (I get paid under the table) - every week, just to make ends meet. Fortunately, my house and car are both paid off, but I really don't want to take out a loan and use them as collateral, because I don't want to take the chance of losing them. I have been looking for another part time job, too, but I am so tired as it is, that I really don't want to have to do that. I did make an appointment to go to Consumer Credit Counseling this Thursday, just so I can get some good advice. I have been reading this message board on and off for a while, so I thought maybe I could also get some good advice here, too.

Thanks for listening!

iVillage Member
Registered: 10-06-2004
In reply to: shellrw
Tue, 09-06-2005 - 11:18pm
Hello Shellrw! Let me begin by saying you are on the right path. Please stick to it. Although, I do not have a child, I understand your pain. I don't know if you have a relationship with the Almighty (whomever that may be for you), but I can tell you this - it works for me. You are definitely moving in the right direction, when you seem to be thinking so low, please think about your child. As someone once told me, you are doing better than most, but not as well as a few. Whatever you do, please don't give up you house. I can read from your post that it is most precious to you and yours. Like I said, I don't know what you believe in, but hold on a change is going to come. So far as the Debt Mgmt. Progam, please make the call. I've been in it without child(ren), house only me and it worked. Take care and believe me you will be in my prayers.

 

iVillage Member
Registered: 07-16-2004
In reply to: shellrw
Wed, 09-07-2005 - 1:07pm
Thank-you for responding! As a matter of fact, I do pray everyday to God, that He will send me down the right path. I ask Him to give me strength and guidance to help me get through this difficult time - He has been there for me several times and helped me - and I do believe He is here for me again. I asked Him to give me the strength to make that phone call to CCCS - and I did it. You have to understand that was very difficult for me to do because I like to be in control of my life and to ask someone to help me is extremely hard. I am a nervous wreck about going to CCCS and telling them all of my financial problems, but I know that I need to do it.