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Ok, I have a bill of huge credit card … like, 15k. I have a credit card, it is like that. i bring home about 2600. I have a house, I have 3 years in my Roth IRA and I investiert.Bisher 403b. Put my car for sale for a cheaper car that my payment will be approximately 1/2 I also canceled my contributions for this year (I know it’s bad, but this is my motivation to get back on … track and retransmits ASAP) and I have a roommate who is about 1/3 of my mortgage and added half of 1100 will Rechnungen.Ich about a month after I covered all my bills. but it is obvious that I have to buy food and gasoline. I have already told friends to ask me not to eat, etc. .. and I do not need clothes for work or otherwise etwas.Ich want everything I ….. exempt income to begin my attack on this bill but it was not enough! I’ll still do it for maybe 2 years … but I need to do this ….. Jahr.vielleicht I have money in my roth? I know that goes against everything they say … but I just thought this is the only other bit of money I have! is it possible? and there is no reason, agency debt management could help me … I have to pay money, and my interest rate is already like 13%, I do not miss payments … they have no reason for me to cut a Pause.Dank for all the advice seriously … I really appreciate it. why the payment is made in the year that my friend and I want to get married this year, and I do not want him in charge of my financial problems. I wish we had the opportunity to spend without being bound by debts and monthly obligations.

11 Thoughts on How do I pay my credit card in 12 months?
  1. Reply
    December 20, 2012 at 5:07 am

    Unless you stop charging and are able to make monthly payments of at least $ 1,500, it’s not possible.

  2. Reply
    [email protected]
    December 20, 2012 at 5:51 am

    Maybe you can get a “consolidation” loan from your bank.
    A loan from them would SURELY have a lower interest rate than your card’s—and they will be more willing to work with you.

    I doubt you’ll ever pay it all in 12 months, but as determined as you are, you will make a lot of progress.
    Take this as a HUGE lesson—credit cards are TERRIBLE!!!
    They aren’t in business to HELP you, they want to OWN you through minimum payments and huge interest on your debt.

  3. Reply
    Dr. Deth
    December 20, 2012 at 5:59 am

    Why do you “NEED” to do it this year? Only other option to accelerate payoff is 2 get a second job

  4. Reply
    December 20, 2012 at 6:04 am

    I have a program that can help you do that, by using an accelerated methodology. If you are willing to contact me I can explain in more detail. Then you can decide.

  5. Reply
    December 20, 2012 at 6:39 am

    Can you get another job? Your only option now is to increase your income somehow. Work a night shift somewhere or during the weekends. Then spend ALL of that money towards your debt. Assuming you need about $ 600 for gas and food, You need to get another job where you can net $ 1000 a month after taxes. Coupled with the $ 500 extra you have from your current job, you can pay off your credit card in about a year.

  6. Reply
    December 20, 2012 at 6:52 am

    So you should have about $ 800 to throw at that credit card and you need about another $ 500.

    Look closer at your budget. You might be able to squeeze some more out of it. Look at your phone bill. Do you really need call waiting, call forwarding, and those other special features? Are you paying a line maintenance fee? Can you cut the cable/internet bill?

    How about setting your thermostat a little higher in summer and lower in winter to save on the utility bills.

    Increase your car insurance deductible to cut insurance costs.

    You could always get a second job. Pizza delivery seems to be flexible hours and you get tips … not to mention free leftover pizza.

  7. Reply
    December 20, 2012 at 7:35 am

    Being someone who got where you are once….You need to first figure out how you got where you are now….You also need to track your spending….Once you have an idea of what you can do, Explore Consure Credit Counseling…It is free and a non profit…The will lower your interest rate, and your $ 1000 will go a lot farther..

  8. Reply
    December 20, 2012 at 8:23 am

    Hey weechi,

    First you should put your credit card in a safety box at the bank. (on the weekend if you get kinda helpless you wont have it to add more) As soon as your card realizes that your trying to pay it off they will give you another increase! (to try an lure you in)…Dont listen to the other people on here saying to email them an they can help you I am certain they are going to try and make it worse. If you pay things with cash at the store then save your change too in a jar….In a few months you should have a few hundred saved also…I did… Also adding a roomate may make your expenses even higher as in electric, water, phone and stress. I tried that too. I ended up paying more in bills like 300 a month..

  9. Reply
    December 20, 2012 at 8:29 am

    The drawback to IRA withdrawals is the penalty of 10% on top of the taxes that will result .
    The net cost will be greater than the % you are paying on the card .

    Can you get by on $ 400 food and gas ?
    That leaves $ 700 for the card , and the % right now is about $ 225 a month if it is an 18% .

    Any chance of doing a transfer to a 0% for 1 year offer ?
    That would let you put an extra $ 2700 towards the principal . . . or $ 8400 total over the year .
    That would leave a $ 6600 principal to deal with .

    The only other suggestion is a 2nd job ( I did that for 10 years ) . And if you get it in a restaurant , you get a free meal each shift too !

    Sounds like your plan is solid , just that it will take just under 2 yrs to do instead of 1 .
    Why is this year mandatory ?

    Best wishes


  10. Reply
    December 20, 2012 at 9:05 am

    I just started a part time job delivering pizza to pay of my credit cards. In 2 days I have worked 5 hours, driven 57 miles, and collected $ 50 in tips alone.

    My interview consisted of the following questions in this order:
    1. Can you start today?
    2. How is your driving record?
    3. Do you have reliable transportation?
    4. What size shirt do you need?

    Note: They asked when I could start BEFORE asking if I could drive.

    Someone suggested putting the credit card in a safe deposit box. That costs to much. Cut the top off a milk carton. Fill it with water. Drop the card inside. Freeze the carton. IF you absolutely need the card, you can get at in in about an hour. Otherwise, it will be a pain to misuse the card.

  11. Reply
    December 20, 2012 at 9:57 am

    There is no tax penalty to take money from a ROTH, as you paid taxes on the money before putting it in (the penalty applies to regular IRAs). So, if your ROTH is bringing in 6%, tax free, and your credit card is at 13%, you’re still in the hole every month. Take the money and pay off the card, then put all the money you would have used to pay the card back into the ROTH every month. You’ll feel so much better having that card off your back.

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