I am drowning in credit card debt!?

I know it is my own fault for racking up the debt, but I want out! I do not own a home and cannot get a loan to help consolidate it. What can I do? I do not have any extra money each month to pay on them, at least not enough that it isn't eaten up in finance charges. I have good credit otherwise, I have never had a late payment. I have considered credit counseling, but I just don't know how that will affect my credit. Help!!!

If you are able to make your payments today, then you are still ok.

Do three things:

1) Find a way to cut your monthly expenses by $100. Eat cheaper food, drive less, don't buy new clothes for a while, whatever. Just cut your expenses by $100.

2) Take that $100 and apply it, in addition to the normal payment, to the LOWEST BALANCE card you have. Don't worry about interest rates or anything, just identify the lowest balance card you have and work on it first. Get that one paid off. Then, take that payment and apply it to the next lowest balance, and so on.

3) Get a part time job. Take the extra income and apply it just like the $100. With a little work, you should be able to come up with at least another $200 per month by working part time. That gives you $300 per month to work with.

Stick with this, and you will be seeing the "light at the end of the tunnel" before you know it.

Nobody intentionally goes beyond their means but you do need to take action now before you do fall behind. I joined one of those "credit companies who lower your monthly payments several years ago and they ended up wrecking my credit. There are free services out there or call up each credit card company and talk to them; usually they will be glad to work with you. Just do not ignore YOUR concerns on this.

Stop using your credit card!! and start paying off your debt.. and soon as u know it your done..

You should try to do somthing called debt stacking. It is where you take all the extra money you have and instead of spreading it out over several different cards you put it all on one (while still paying the minimum on all the other cards). Then once you have that card paid off you take all the money you were paying on that card and put it on the next card. Some people do this with the card with the highest interest rate, but I have found it to be most effictive using the card with the lowest balance because it gets paid off faster and it helps to get the ball rolling. This can work if you even if you only have $20/month to get yourself started. The most important thing is to not faulter and use the extra money to pay on the cards and not go shopping!!!

I found myself in your shoes at one time as well. What I did to get out of it was to STOP CHARGING. I know that is easier said than done. But, it can be done. Then, I paid anywhere from $5 - $25 more than the minimum payment every single month. I also made sure to continue paying on time so that I wouldn't acrue any late fees.

I have successfully gotten myself 1/2 way out of credit card debt this way. I will have myself the rest of the way out by this time next year!

I know it is really hard to get out of debt. But, I am living proof that it can be done. I am an extremely low-income single mom who does not receive child support - never have.

I notice that you say you are not able to pay extra on the cards right now. That's ok. Just stop charging on the cards and keep paying the minimum payments faithfully. On months where there is an extra paycheck (like in June there are 5 Fridays), make an extra payment.

Next, find ways to cut out expenses. Like, do you really need another pair of shoes? If so, can you get by on an off-brand pair instead of name-brand? Do you your kids really need another video game? Cut back on eating out, etc. I'm not saying that you can't reward yourself with splurging once in awhile, but cut out as many unnecessary expenses as you can.

Keep up the good work on getting out of debt! Don't give up! There will be a reward in it for you down the road - like being able to buy your own house or buying a new car! Then you will be able to sit back and reap the benefits of your dedication and hard work.

Visit the below website for a debt consolidation loan. That will not affect your credit. Debt settlement/counseling will affect your credit negatively, though

This site http://www.mintcreditrepair.com/debt-cou...
Really helped me out, I personally used them and its been great, I found the link from msnbc a few months back, Great site. Good Luck!