You owe 30000 in credit card debt and have never been late with a payment but cant afford the minimum due now what to do?

Answer 1

It is hard to say what your best option is without knowing a little bit more about your situation, but you probably have a few different options. Some questions you will need to have answers for are: * Are you over your credit limits or close to them? * Are your interest rates high? * Do you own a home and have equity in it? * Do you have enough money to pay your normal living expenses (food, housing, car payments, gas, etc., and include everything) other than your credit cards? * Do you have a good, bad, or average credit score? The answers to these questions could help you determine your options. If you own a home and have equity, you could consolidate your credit card debt by refinancing or with a home equity loan. This would get you lower interest and a lower payment. Still, I wouldn't recommend this because you will be turning your unsecured credit card debt into a debt secured by your house. If you have a very good credit score and are not maxed out, you might be able to get an unsecured debt consolidation loan at a lower interest rate, which could lower your monthly payment as well. If you have no money at all (or a negligible amount) to go towards your debt, you may need to speak with an attorney about filing for bankruptcy. You should try other options first though, bankruptcy should be your fallback option. If your interest rates are very high, you should speak with an accredited credit counselor with a non profit agency that has a good rating with the Better Business Bureau. The credit counselor could enroll you in a debt management agreement that would get you lower interest, potentially one lower monthly payment, and have you out of debt in 3 to 5 years. Check out the links below for more information on these options. You should see if you can start a payment plan. that way you can pay off your card little by bittle hope this helps