Drowning in debt- anyone else?

amother

Denim

Fri, Jan 05 2024, 8:11 am

We have about $40k in cc debt
We owe about $25k for past tuitions that we slowly pay down
We have about $15k of medical bills from this year alone …and as the new year begins and we start with new insurance deductibles it starts all over again.

But I believe one day we will get out of it with Hashem’s help.

Most of my own paycheck goes to tuition and paying down credit card and medical debt

amother

Freesia

Fri, Jan 05 2024, 8:46 am

I have close to 90k in student loans but doesn’t feel like I’m drowning because it’s just another monthly payment I have to make. Like my mortgage. I also accumulated 20k in cc debt but put on 0% interest card and am living as frugally as I can to pay it off. So it’s stressful but I don’t consider it drowning. I have no idea what’s with tuition, I leave that up to my husband but I know he works it out with them to pay less, so I don’t think we actually owe anything.

amother

Lavender

Fri, Jan 05 2024, 10:14 am

amother White wrote:

Can you explain how you always get approved for the full amount you need on the next card? And how you know of many cards with 18 mouth 0 apr? We need to do this and I don't know how to go about it..

I don't flip my cards because thankfully I have enough so that I pay off in full every month.

I also don't want the hassle of having to deal with multiple credit cards so I used one credit card for everything but have a few that I don't use just to have them.

However, in October I got two credit card "offers" - one was from Instacart which gave me 3% off on all Instacart purchases made on that card and the other was from Apple which gave me 3% off on all purchases of Apple stuff. Since I use Instacart every week and was planning to purchase a new iPhone and iPad, I thought why not sign up for the cards since a 3% discount on groceries every week would be good.

I had no problems getting approved immediately for both of the cards

When I checked my credit score it had decided because

1) Credit check causes a drop

2) Having new credit lines caused a drop

3) Having more available credit caused a drop although there is another 'rating' that factors in percentage of available credit used so that might be a wash.

amother

↑ Cadetblue

Fri, Jan 05 2024, 2:32 pm

amother White wrote:

Can you explain how you always get approved for the full amount you need on the next card? And how you know of many cards with 18 mouth 0 apr? We need to do this and I don't know how to go about it..

Bank of america, m and t, capital one , discover. Check their latest offers. I usually pay 3% fee on each balance transfer. Its 10k we roll and our credit is good bh . We usually get approved for 10-15k

amother

↑ White

Fri, Jan 05 2024, 3:08 pm

amother Cadetblue wrote:

Thanks for explaining
I'm so glad this is working for you.
Our balance is way higher than 10k so that's why I'm concerned how we would get a new card approved for thr amount we need. We still have time until the first 18 months is up but I worry about it.