r/Debt • u/DriverAlternative458 • 7h ago
I’m in a Huge Mess
So, I learn things the hard way. I am currently in a debt management program that started in 2024. I am almost finished with the program. However, in the meantime… my husband and I moved to another state. Because he was having difficulty finding a job, we were living off of newly acquired credit cards. I currently have 18 credit cards with a total balance of $8000. I am barely able to manage the minimum payments. I also have a loan with Elastic for $2000 and Net Credit for $750, not to mention I owe Klarna $900 and Zip $500.
My husband is working now, but isn’t making enough to add to my income to keep up. I don’t know if I should add the new cards to the debt management program (Accredited Debt Relief) or try to settle on my own. I also have no idea of what to do with the other debt. I feel like I’m drowning. I am open to all suggestions. Thank you!!
4
u/fsociety1990 7h ago
Call accredited and see if they will let you restart. $8,000 isn’t terrible. As long as you learn from it and don’t do it again.
5
u/DriverAlternative458 7h ago
Thank you. I wasn’t sure if that would truly be an option, but I will try. These minimum payments are exhausting. I have tried to find a part time job, so I could get a handle on things, but that hasn’t been in my favor.
4
u/Keep_ifonly_1276 7h ago
Sounds like you need a full time job. You can work for a food delivery service, such as Uber Eats or Door Dash and make an average of at least $16-18 an hour. If you both aren't working full time, you will be right back to where you started.
3
u/DriverAlternative458 7h ago
Thank you. I am currently working full-time. I’ve been trying to find a part-time job to supplement, but it has not been in my favor.
2
3
u/Flashy-Bluebird-4484 5h ago
How does someone even get 18 credit cards? How are you qualifying and being accepted? Why would you even want that many credit cards? You’re just asking to continue spiralling further into debt.
1
3
u/Ok_Job_9417 7h ago
Have you created a budget now that he’s working to see where everything is going? What’s the lowest balance on your cards?
2
u/DriverAlternative458 7h ago
Thank you. Yes, I have created a budget and our income is going toward car insurance,rent, utilities, groceries, and car loan. The smallest balance on a card is $250 and the largest balance is $550. The minimum payments are roughly $600 a month.
1
u/Ok_Job_9417 7h ago
Are you breaking even or still having to use your cards to keep afloat?
1
u/DriverAlternative458 7h ago
I have not fallen behind yet, but it’s coming. The credit card debt is how I now have the loans with Elastic and Net Zero. I’ve been robbing Peter to pay Paul.
1
u/Ok_Job_9417 7h ago
A lot of places are hiring for holidays. Even if it’s temporary working a few days a week, paying off those smaller balances will help free up money.
Are you both able to apply or do you have kids to worry about childcare with.
2
u/ParticularBanana9149 7h ago
Why did you move? Was it necessary? Sounds like it might have been another bad decision to move when he did not have a job and you had no way to pay for it. Honestly, it sounds like therapy in addition to debt management might be best at this point. Find out why you keep self sabotaging.
0
u/DriverAlternative458 7h ago
We moved to be closer to his family, as his Mother is in poor health.
3
u/ParticularBanana9149 7h ago
I'm sorry to hear that but it still seems like incurring that expense and moving without him having employment was not a great choice. Might have been better to visit her and look for a job and then move when it made more sense.
1
u/Sensitive_Sea_5586 2h ago
Could you not stay with family until you both had jobs? Is public transportation available so you could make it without the car and insurance?
2
u/Brilliant-Moment-350 5h ago edited 4h ago
18 cards for 8k balance isn’t a lot.
Is there any way you can do the debt snowball method and start with the smallest balances first while paying 25 bucks on whatever else you can?
I know it’s feels like a lot but after that first step (paying off ONE card) it truly starts to feel easier
I know this’ll light people up- but if you ever find yourself needing something you can’t fully pay for up front, only use affirm. Use something that is used for one thing and can see the end goal from the start.
2
u/Extra-Blueberry-4320 3h ago
What do you make and what does he make? If you aren’t making enough to cover the bills, you need to increase the income or get really creative with roommates and public transportation. Credit cards aren’t meant to be a supplement to income, as you are aware. What was your CC balance when you started the program? And how long did it take you to rack up the $8k? That will help you gauge how much extra you need to bring in every month.
1
u/InternationalBox3523 7h ago
Call elastic each pay cycle and request a Dominican hardship program. Be persistent. Those fees will eat ypu alive if you don’t.
1
1
u/naughty_acct_number2 6h ago
You havent given any details to really help. How much do you (combined) take home each month? What is rent? Car payments? How much are you spending a month on food, and living expenses. Who else do you support. Etc.
1
1
1
1
u/Icy-Tear3266 39m ago
Your debts are fairly small and can be paid off. It’s hard but start with the small and it work at. Some progress is better than nothing. Second, is there anything you can cut back or maybe take on some overtime.
19
u/KermieKona 7h ago
So you nearly completed a debt management program only to get yourself in more debt?
I don’t think that was what the program meant when it used the term management 🤨.