Debt Management Info Blog

CalCreeBoy asked:


I currently have over $13, 000.00 in credit card debt, and as a result have withdrawn from college. Since February I have been working, but feel the need to return to school to finish my last year of college. I would like to return to school in the summer, but would like to continue working part-time to pay of my debts. My dilemna is whether I should find a full-time permanent job and go to school part-time in order to pay off debt faster, or get a part-time job and go to school full-time in order to finish school faster, or put off school till debt is paid, or put off debt till school is finished, so I can make more money with my degree. Ideally I would like to graduate with little to no credit card debt. Also, I need help with money management, budgeting, and tips on saving. Please HELP.

Maria asked:


I have a huge amount of credit card debts and for some of them I am back in monthly payments, I received this publicity by mail from DMB Financial offering a management debt program but now I am scare to take a wrong desition and end with more troubles.
Last year I quit my job and I start using my credits cards more than usual thinking that it was a transitory situation I immediatly start receiving offers from my differents credit cards companies increasing the amount of my credit limit and offering 0% interest with checks that I could use “for anything I wanted” now I have a job and recently I took a second job but at 29% apr it is almost impossible for my to pay my debts or even to put the accounts up to date, I am behind and even if ” I knew” the risks when I was using this money I feel like I felt in a trap somehow organized, I am a hard worker and I always honored my debts and psycologically I feel very bad to go and say “icannot pay the money I took from you” but it should be illegal to change the rules that way, they give you the money lets say at 7% which it is already 3 times the amount you can get if you put the money in a saving account and then they told you you owe then at 29% we are talking about an increase of 400%!!!