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12 February 2005 @ 11:14 am
Been a year or so since I mentioned my credit card debt...  
...I guess that makes it high time.

So I'm in debt.  Far more than I ought to be.  But for the past many months, I've been making active efforts to not use any of my credit cards unless ABSOLUTELY necessary, which I've been finding really isn't all that often, and paying off more than minimum balances whenever I could.  All the same, At this rate, I won't be out of CC Hell until, like, 2011 or so.  (And this is ignoring the student loans I'm current getting, and the business loans I'll have to take out in order to open a practice in four years.)

I was telling all this to a friend, and he recommended Consumer Credit Counseling Services of OC.  A different friend had recommended them a couple of years ago, but at the time I was too dependent on the cards to even consider it - the first thing CCCS does is freeze your accounts so you can't accrue more debt.  But this time, it occurred to me that I'd already weaned myself off the cards for the most part.  So what's holding me back from getting some help, and possibly having someone negotiate the minimum payments and interest rates down on my behalf?

With that in mind,  I sent in my information yesterday.  They'll have a counseling person review and send me an e-mail in the next two business days with advice and possibly a plan.

*crosses fingers*
 
 
 
Idtechnomonkey on February 14th, 2005 05:25 pm (UTC)
True and not
It's a good strategy, except that my debt is roughly three times that amount, and it's spread across about ten credit cards - plus I have no income. Nobody's going to approve me for a card at all, much less for enough to close out even one of my cards.

I understand the strategy, and I'm jealous that it worked for you, but I don't think it'd work for me. At least, not at this point. =(
egheaumaen on February 14th, 2005 05:51 pm (UTC)
Re: True and not
Don't assume that. Look into it. I"m pretty sure they accept anybody. After all, people with crippling debts are far more attractive to them than people who pay off their full balance every month. They make a ton of money from that first group, and no money at all from the second.
egheaumaen on February 15th, 2005 04:12 am (UTC)
Re: True and not
I think they care more about credit history than no income. If you're capable of paying your minimum balance on time, and have a history of doing that, you should be okay.

Look here:
http://www.asapcreditcard.com/lowintroapr.html