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Credit Card Debt Help
Just decided to drop in and tell you my credit card story, and about credit card debt help.
When I was eighteen years old I got an application for a credit card. I was barely out of secondary school and thought I was now a true grown up and got very excited. Just think a credit card of my own. I had a job but it was not precisely a career. I completed the application form and in 14 days I had my very own credit card. WOW.
No one told me the best way to use it or perhaps what exactly to be aware of, so I used my card and became a fashion plate at the office. My boss must have thought that he was paying me a lot because I missed one raise.
Anyway, long before I needed to seek credit card debt help, owning a credit card was an incredible experience for me. I remember that the initial thing I did when I got it was to take my girlfriend to a fancy restaurant for her birthday. It was a great experience to hand the waiter my credit card when it came time to pay the bill. My sweetheart was impressed. Still, I knew absolutely nothing of the possibility of credit card debt.
The advantage about the credit card was that all I had to pay every month was the minimum fifteen dollars at that time. And they kept raising my limit because they said; I was such a good client. Well, it is several years later and several more credit cards later. That bare minimum payment has raised way too many minimum payments, which I have now learnt since seeking credit card debt help, is not the way to pay your credit card debt. With minimum payments you will never ever actually pay the balance off. My credit cards are so high that I am in what is known as "deep financial doo- doo." How can I get out of it?
I started to talk to financial counselors and learned that I was still not as bad off as some people with credit card debt; however that did not help me a lot. Understanding that you're as bad off as others only helps to lower ones self esteem. After all your financial responsibilities are what inflate your ego and act as balm to your self-esteem. I was now as low as possible. The financial adviser told me I had 2 choices; I could file bankruptcy, or I could apply for a debt consolidation loan.
When filing bankruptcy, I was told, I may not be able to get credit at a suitable interest rate in the future, and I wanted to eventually purchase a house. It would also decrease my credit rating with the three major credit reporting companies. A debt consolidation loan, if I qualify, would pay off all of my debts and I would have only one debt to pay. But, would I manage to get a low interest rate to make my payments much easier? I had a whole lot to consider. In the end my decision was to get a debt consolidation loan.
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