What I’m currently doing is I have our credit cards arranged from highest interest rate to lowest and am paying about 5 dollars about the minimums on all but the highest card (figured that would slightly help our credit more than paying the minimums because it will show that we paid more than the minimum due) and then I’ve been putting everything else that we have towards the card with the highest interest rate.

I’m sure most of us can agree that credit card debt is EVIL!!!!!!!!!!!!!!!!

However, just recognizing that doesn’t make it go away. My husband and I have way too much credit card debt and are making progress on paying it off. What I’m currently doing is I have our credit cards arranged from highest interest rate to lowest and am paying about 5 dollars about the minimums on all but the highest card (figured that would slightly help our credit more than paying the minimums because it will show that we paid more than the minimum due) and then I’ve been putting everything else that we have towards the card with the highest interest rate.

I also routinely call the credit card companies to see if I am eligible for a decrease in APR and often I am and we have done the balance transfer juggle a few times as well.

Is there anything else anyone could share that could work? It just seems like it’s going to take forever to get it paid off. I am very driven though, so that will help. The fact that we are living with family right now and not having to pay rent is helping as well. It just seems like it’s a long dark tunnel.

What I have done in the past and I know I read it in one of the numerous debt books; is if you start with the smallest balance to highest it makes things a little ’emotionally’ easier. If you pay the extra toward that small balance then it is paid off sooner than a large balance; which means all that money goes towards the next one, BUT you also get to see satisfaction sooner that you are actually making a difference. Does that make sense?? I am not sure my thoughts typed out real well, but hopefully you understand that.

It is a long dark tunnel and some people stay in that dark tunnel for a long, long time. Paying loan shark interest , penalty fees etc. The credit card co’s love it! These people are their best customers who they make their most profit from. I’ll get hammered on this group for saying this, but I agree with Harvard Professor Elizabeth Warren that if you can’t pay your debt in a timley manner, then consider filing bankruptcy.

You really can repay your creditors once you are back on your feet! With the price of everything going up, it makes no sense to be held hostage with loan shark interest etc by the CC co’s. You and your family come first! All the extra fees you are paying to the CC Co’s could be put in savings , earning interest for your future.

Prices are not going down. They are getting higher all the time. A CEO of a big corporation who is in trouble doesn’t blink an eye if he or she needs to get the co back on it’s feet and neither should an individual or family.