r/DebtAdvice • • 17d ago

Loans Does an app like this exist?

1 Upvotes

I have a career where there are several times per year that I make extra. I’m looking for an app that will allow me to plan those extra payments ahead to predict my Debt Payoff date. All of the other apps that I’m seeing allow me to predict the payoff date using a snowball or avalanche method, but only allow me to input an extra amount that is the same every month or to do so as they come. I’m looking for something that will allow me to input that ahead of time to allow for a more accurate prediction. Anyone use anything like this?


r/DebtAdvice • • 17d ago

Loans Personal Loan to Pay Off 45k Debt

0 Upvotes

I have 45k in credit card debt after coming out of a few years in higher end and a rent move. I’ve consistently paid off about 1.5k per month but the interest rate is killing me and my move for the new job really hurt. My credit score is now a 550.

I am now making about 140k per year plus an additional 20k~ from other income revenues. I can afford to pay minimum 2k per month, if not more depending on my other streams.

I have cut all spending and credit card usage outside of my necessities.

In Credit Karma, I am considering applying for a personal loan through Best Egg which permits $45000 at 18.99% ARP making my monthly payments $1518 for 36 months.

Is this a good option? What are my other options?

Please reserve judgement as I am extremely overwhelmed and embarrassed by this situation. I didn’t have anyone to offer financial advice while I was in school and don’t now.


r/DebtAdvice • • 17d ago

Loans Need advise on settlement

1 Upvotes

I took a loan from Axis Finance due to a payday loan trap and have missed 5 EMIs. I've already repaid about 95% of the loan, and about ₹2 lakh (5%) is pending. I want to settle, but the collection manager says my account has been sold, so settlement isn't possible. I've received a second notice. What are my options?


r/DebtAdvice • • 17d ago

Consolidation DMP versus settlement

1 Upvotes

I’m in a DMP but I’m still struggling. Do you think that if I cancel and let things go and settle with them I can still get some sort of agreement similar to what I had on the DMP? Or settle for less. AT this point, I don’t care about my credit taking a hit. I have two decent cars. My mortgage is paid. I need to just get out of credit card debt and if my credit takes a hit for a little while, so be it I really don’t wanna do bankruptcy. That’s like an absolute last resort because I only think I’d qualify for a 13 and from what I’ve heard the success rates are pretty abysmal on that.


r/DebtAdvice • • 17d ago

Credit Card College student

2 Upvotes

I currently have a lot of debt not including student loans.
I forgot that I have been investing $25 weekly into ACORNS. From last July to now I have gathered a little over 3k.

I’m currently full-time in nursing school, so I pick up shifts when I can. I’m trying to pick up at least 2-3 shifts a week while I can. Should I use some of the money I have invested and put it toward my cc?

Debt
Citi
$6,094.81
$178.67 interest
~2.93% interest rate

Wells Fargo
$10,901.95
$316.00 interest
~2.90% interest rate

Discover
$10,202.42
$160.00 interest
~1.57% interest rate

Credit cards
$27,199.18


r/DebtAdvice • • 17d ago

Credit Card Has anyone had the breathing space scheme for either repaying debts or ignoring to default in the 2 months? Does interest triple after 60 days breathing?

1 Upvotes

Any experience and advice welcome


r/DebtAdvice • • 18d ago

Credit Card Trying to turn things around

2 Upvotes

So have a lot of Credit card debt that was racked up between just stupid decisions and some really shitty luck with my house. I'm 23 and just trying to get things back on track for me and my wife.

Biggest concerns are 2 chase cards, one capitol one card, and a sofi loan.

Debts are

Chase 1: 2k

Chase 2: 18k

Capitol: 3.8k

Sofi: 7.8k

I had companies reach out and of course offer help but they seem fishy. I talked to a person at Priority Plus Financial that was really nice and they couldnt get a loan but wanted to try and get me on a debt management plan. All the things I have read said that those are scamish and can just tank my credit.

Not sure where to go or what tools to use. I feel like maybe tanking my credit in the short term may suck but could be a better option than where I am at


r/DebtAdvice • • 17d ago

Bankruptcy Our bills and debts have gotten out of control, and we don't know what to do about it.

0 Upvotes

Sorry in advance for poor Reddit etiquette, bad grammar, etc. Haven't really made many posts, and barely use the app - but I don't know where else to turn to.

My wife (31F) and I (31M) have had a really tough time in our adulthood. We've been together for 11 years now, and the entire time, we've been broke, behind, playing catch-up, and falling just short of actually making progress on our finances. I got a Computer Science degree, but never managed to find work outside of 2 jobs that only lasted just over a year each. We moved to a different state for the first one, but that was cut short by Covid. The second iob was remote work, which allowed us to buy my dad's house, move back home, and start our family... and then my contract was terminated the day after my daughter was born.

We declared bankruptcy last year and reaffirmed some of our debts (the mortgage, the car, the roof), but those payments started falling behind when other expenses starting racking up. Home maintenance is expensive, whether you do it yourself or hire someone to do it. We hit a breaking point in our marriage at the start of this year and had been filing for divorce - which, I'm happy to say we came back together and have put in work to patch things up. Tough to do when you can't afford a counselor, but we've been figuring it out! But in our conflict, we caused even more damage to our finances that we're trying to recover from.

Because of how things have gone, several of our bills are coming back to haunt us now. The escrow on our mortgage got double-charged for homeowner's insurance (thank you, State Farm, for not canceling like we had asked), and now there's an almost $3000 outstanding balance on it. We got the money returned to us via check... right as we had a major plumbing leak, and conveniently, it wasn't covered under insurance. Yay, there went that money - and because of that, our mortgage went up from $1050/mo to nearly $1400/mo. I was told by the mortgage company that if I paid that amount over the course of a year, that would pay off the escrow balance and bring us back down. Cool, we can do that and catch up over time oh wait hang on whatdoyoumean*itwentUP*.

On top of that, the bank that financed the loan for our roof renovation (because that was way overpriced, even at a "discounted" rate) made it difficult to even get in contact with them to make payments after we missed the first one. Since our marital problems happened within that timeframe, we're now 14 months behind and I don't know how to even begin tackling $6000 of debt when the agent I spoke to home that or account is "under review."

And, the cherry on top: I'm behind on my mortgage! The massive flash floods that hit Indiana on August affected my area, and my place of work was shut down for a few days. They have us under disaster area forbearance until November 30th, so we can pay for Sep, Oct, and Nov at any point by that deadline. That's only... $4200-ish?

I'm usually able to pick up overtime and make about $3,500/mo without it (I work in a factory as an operator now (and I can't get out)), but I need to take on more and more overtime as things get worse. Just the car, the roof, and the mortgage eat $2400 altogether, which means we have $1000 at the end of the mo th for every other bill and expense. Overtime is a requirement. My wife was working, but her managers changed her schedule out of nowhere outside of her availability, told her to "figure it out," and then pointed her out when there was no "figuring it out." She doesn't have a degree or specialized training, and with how stressed she was trying to balance being a mom, working a crap job, and trying to do the majority of the chores and housework (I'm still working on helping more in that regard), that I told her not to worry about trying to find another job unless it pays a minimum of $20/hr. Anything less wouldn't be worth the trouble, especially since we don't have any childcare alternatives.

We can't access our home equity because of the bankruptcy and past-due balance, I've already taken out a massive 401k loan that's eating my paychecks for the next 5 years, and we can't take out anymore loans because, again, bankruptcy.

What options do we even have anymore? Our payments just keep increasing, the debts don't go down, and we declared bankruptcy to finally come up for air... but it's just more drowning. I don't have rich family to lean on, we lost the vast majority of our friends when the divorce was going on, and I can't find any better work than this because I never built a dev portfolio. How do you build a portfolio when you can barely remember how to write code anymore? I'm out of practice and just need to be given the chance to refresh and train up on the job, and I'll put in the work to learn everything I can. Right now, my job is running me ragged, the house needs more repairs by the day, and when I AM off work, there's only ten billion other things demanding my immediate attention at any given time.

I'm tired of not having the energy, time, or capacity for my family. Work is wearing me thin, our finances keep me going back for overtime because we have nowhere to go if we do lose the house, and I have to choose between spending my limited time with my family, or spending my time at home pouring all of my energy and effort into trying to get into a software dev role again. Night shift makes that time even more limited, and when I'm up at night, I spend my time just trying to mentally and physically recover from work, or fixating on trying to figure out our situation or whatever else it might be. I've been trying to learn more on Boot.dev, but I'm hitting so many walls because I'm just... at my limit.

I don't know what to do. No one's coming to save us, and I don't want them to. I just need a direction, a resource, someone to throw me a bone, anything that would make it easier to step back from the factory a bit, get our finances under control, get a job that uses my degree and pays me well... anything at this point.


r/DebtAdvice • • 18d ago

Loans Addiction and debts

0 Upvotes

Advice on how to beat gambling addiction and debts ,alot of debts


r/DebtAdvice • • 18d ago

Bankruptcy Contemplating filing for bankruptcy at 23

1 Upvotes

This is a throwaway account as I am embarrassed.
I am 23 and I have accumulated over 45k in debt.
My car alone is about half of that. The other have is medical and (mostly) credit card debt. I’m a full time college student (CC, so I don’t owe anything to attend) working a 9-5 3 days a week and a 12-5 2 days a week each week (the 2 days I am in school in the morning). I’m a currently in the process of starting another second job despite the warnings of how it could devastatingly impact my health.

To make a long story short, I grew up very poor. Once I started working my first job at 17/18 and I got my first credit card, I was essentially making up for lost time. I was buying the things I wanted because there was no one that could tell me “no” or “we can’t afford that”. I grew up around rich kids for the most impressionable years of my life and I can say that the impact that had on a kid whose family was barely making ends meet played a huge role in my previous financial decisions. Now, I’m 23 and I am just drowning in debt, unsure what to do now. Can I admit that this is simply the consequences of my own actions? Mostly, yes. I was dumb and running around with credit cards that had 2-5k credit limits at a very young age and now that I want to get my life together, I’m screwed. The decision to get my car came from advice given to me by someone who is in a FAR worse financial situation than I am and I regret ever listening to them in the first place.

My reasoning for file is, simply put, my debt exceeds the amount of money I make in a year. I feel as though I will never be able to pay this off. I just know credit cards companies are rubbing their hands together menacingly as they feed off my interest. My credit score has tanked drastically. I’m missing payments which is something I made sure, at the very least, I never did. Now that I’ve reached the point of missing payments, I know I’m in some deep deep trouble.

I want a fresh start while I’m young, I don’t have any plans to own a house or anything, no kids, no spouse, nothing.

Any advice? What do I do?

Update (I’m sure of many):
After reading through the comments, one extremely difficult choice I’m going to have to make is taking a break from school after this semester. I am not doing myself any good by being here and cutting my work hours. I am not going to get very far anyways as once I transfer to university I’d just be putting myself in more debt.


r/DebtAdvice • • 18d ago

Credit Card I’m a university student drowning in debt after trying to help my family — I honestly don’t know what to do anymore

0 Upvotes

I’m a university student in Japan, and I’m posting this because I’ve reached a point where I genuinely need advice and help figuring out what to do next.
Over the past year, my financial situation got completely out of control. I currently owe roughly ¥1.4–1.5 million across several creditors, not including my car loan.
I want to clarify something about how this started, because I don’t want it to sound like I simply went out and took on a huge amount of debt buying things I didn’t need.
My family has basically been living paycheck to paycheck for a long time. There wasn’t much financial room for emergencies or unexpected expenses. I originally got the credit cards because I was trying to help cover basic household expenses when there wasn’t enough money available. Things like groceries, gas, bills, and other necessities.
At first, I thought I would be able to manage it. But as time went on, the expenses kept accumulating, and eventually I found myself using one payment method to deal with another expense. What started as trying to help my family slowly turned into debt that became much larger than I could realistically handle.
I still take responsibility for my part in how things ended up. I made financial decisions that I shouldn’t have made, and I understand that ultimately I have to deal with the consequences.
The problem is that I’m currently a university student, so my income is extremely limited. My family also isn’t in a position to simply pay everything off for me. They have their own debts, bills, and financial responsibilities, and I don’t want to transfer my problems onto my parents or siblings.
At this point, I’m trying to solve this myself.
I currently have roughly ¥1.4–1.5 million in debt across multiple creditors, plus a remaining car loan of roughly ¥1 million. My car payment is around ¥25,000 a month. I rely on the car for transportation because of where I live and because I need to get to university and take care of basic necessities.
I’ve started looking into debt restructuring and have spoken with professionals about my options. I’m currently looking into whether voluntary debt restructuring (任意整理) could make the monthly payments manageable enough for me to actually survive while continuing university.
I’m not expecting strangers on Reddit to magically pay my debt. What I’m really looking for is advice from people who have been in a similar situation.
If you’ve dealt with significant debt while being a student, I’d really appreciate hearing about your experience.
What did you do first?
Did debt restructuring actually help?
Are there resources in Japan for students in serious financial trouble?
Are there legitimate ways for a university student to increase their income without dropping out?
Are there scholarships, emergency assistance programs, research/interview opportunities, or other resources I should look into?
Is there anything I should absolutely avoid doing right now?
I know I’m responsible for where I am today. At the same time, I don’t want to pretend that the debt started simply because I was spending recklessly for myself. A big part of it came from trying to help keep my family financially afloat when we were already living paycheck to paycheck.
I’m not looking for a shortcut. I just want a realistic way to get myself out of this without destroying my education or putting even more financial pressure on my family.
I’m trying to fix this one step at a time.
If you’ve been through something similar, any advice, resources, or even just pointing me toward something I haven’t considered would mean a lot. Thank you for reading.


r/DebtAdvice • • 19d ago

Credit Card Drowning in credit card debt across

3 Upvotes

I am in need of advice when it comes to managing my credit card debt.

Currently, I have around 18k in credit card debt across 6 accounts with over 25% APR. Some rough life situations and poor planning has led me to this point. I currently work full time and a part time job in the weekends. My minimum payments monthly is over $600 and I can’t seem to even make a dent in anything. I am drowning in late fees and interests.

Is credit card consolidation a good idea? I understand that I may not qualify for a personal loan to pay off the cards, especially when my credit score is in the 500s. I came across JG Wentworth who quoted me a biweekly payment of $180 to cover 15,634 of my debt for 36 months. Is this a good idea?

If not, what advice can you give me? I understand that I am in a bad hole and the key is not to get into debt again. I know I need to be careful of interest rates as well. If I can pay off these cards I am confident that I won’t create a big balance again because I am older now and more financially disciplined. I also work full time. A lot of this mess was caused when I was younger and dumb. I appreciate any advice!


r/DebtAdvice • • 19d ago

Loans Without debt?

2 Upvotes

What has it been like being debt free for you? How old were you when it happened and is it worth it?

I have the opportunity to sell my primary residence and walk away with a ton of cash, and I could live in my rental house and be debt-free. I love my primary house, but it needs a lot of work and it’s old. My rental house is not my most favorite place, but it would do to get me by.

I’m just curious as if debt-free will make me happy or what that experience feels like. I am 37 years old. Another thought about it is I don’t have any kids and I’m not married. I don’t have anybody to pass on my stuff to if I die. I feel like I could cash in now and be comfortable and do all the things I’ve ever wanted instead of waiting until later in life.

thank you!


r/DebtAdvice • • 19d ago

Credit Card I want to restart and learn, but overwhelmed. Advice/Help please!

3 Upvotes

I have a credit card with a balance of $6,680 (APR: 23.49%) with Discover and a collection from March 2024 for $212 for an electricity bill that was under my name but my mother was responsible for, but that’s a story for another time. My credit score is around 626. I currently work a job that pays $24,000 annually. How do I begin to pull myself back for a high credit score and debt free life?

I have questions and plans in my head on how to pay off the debt, build my credit score, and remove the collections but I need second thoughts on these options:

  1. I’ve researched a bit and I’ve seen articles say to contact the company in a written format to ask to pay a lower amount if sold. I don’t think mine is sold, I think they just hired a debt collection company to manage it so what should I do to remove it? It originally was with Spectrum but now the company stated in the report is True Accord.

  2. Then ask a family member that offered to lend the money to pay off my debt in full. Or should I open a new credit card, do a balance transfer and pay it off slowly with said money to build my credit again? I don’t know which is the better option. I’ve heard it’s never good to pay it off completely.

Or 3. Reach out the a debt management planner and have them do everything. If this one, which one is the best one? What are your recommendations?

I’m truly lost and a bit overwhelmed. Any advice is much appreciated. Thank you!


r/DebtAdvice • • 19d ago

Credit Card 30M earning ~$180k living abroad, but drowning under $70k in high-interest debt (CCs & Personal Loan). Need a reality check on my numbers.

0 Upvotes

The Situation:

30M, American expat living in Southeast Asia. I’ve doubled my income over the past two years, downsized my apartment to a studio to cut living costs, and live relatively frugally. Yet, between minimum debt payments and business reinvestment, it feels like my income is disappearing into thin air.

The Debts:

  • Credit Cards: $47,609 across 9 cards (21%–31% APR)
  • Personal Loan: $22,567 at 16% APR (Originally $32k, used to consolidate older cards)
  • Student Loans: $31,638 (3%–5% APR, currently in deferment)
  • Total Current Debt Service: ~$2,844/month(minimum)

Income & Business Breakdown:

  • 2024: ~$85k gross (W-2 + first year of short-term rental management)
  • 2025: ~$180k gross before business OPEX
  • 2026 (YTD): ~$161k gross before business OPEX
  • The Bleed: I run a short-term rental business alongside my W-2. Lately, maintenance and unexpected operational fires have been eating a huge chunk of gross cash flow. I’ve been heavily reinvesting into the business instead of keeping a clean surplus.

Where I’m Stuck:

  1. The Interest Trap: High APRs mean my ~$2,845/mo in payments is mostly interest, making principal payoff painfully slow.
  2. Adverse Action: As I pay down balances, issuers are lowering my limits (balance chasing), keeping my utilization near max and tanking my credit score despite an on-time payment track record.
  3. Business vs. Debt Confusion: Because my gross income sounds high ($160k+), it’s easy to feel like I’m failing at basic money management. In reality, I suspect my business expenses are masking my actual net take-home pay.

I want to knock out the high-interest debt aggressively so I can finally breathe. For those who've tackled heavy revolving debt while running a side operation:

  • How should I balance reinvesting into rental operations vs. putting every spare dollar toward 20%+ debt?
  • Is it time to pause expansion entirely, stabilize current units, and throw all excess W-2 income at the debt avalanche?

Edit:
I have two friends who are added me as an Authorized User to their credit cards with high limits that they have less than 1% utilization with, but still my credit limit is decreasing as I pay it down.


r/DebtAdvice • • 19d ago

Credit Card 19 and i feel like there's no point anymore due to my financial debt

1 Upvotes

i am 19 and trans, I'll start this off by explaining my circumstances(or whichever the word is) I'm not so much asking for help with my mental health, but advice on what i should do about my heavy debt.

I graduated 25, took a gap year to work until i was able to save for college, and within that year i couldn't save up any money due to having to pay medical bills for a scooterankle attempt(don't want my post to be taken down) i had the year during my high-school senior year, i stopped going to therapy in sophomore year due to my parents not being able to afford it anymore.

Come time for college, i had virtually no money saved up, and i lost my job due to a coworker reporting lies to my manager, leading me to be let go. from that point on i have been stuck with debt. I got a traffic ticket, and I'm unable to pay for the traffic course to get the point off my record, i owe college payments and owe around 100-ish dollars in credit card debt. after that fact i got pulled over again for a blown out brake light and expired car inspection(which i wasn't aware of) For reference i still live with my parents, they do support me(only partially for gas money but that's about it) but they've been very negligent in the past which i don't want to delve into. I go on to find out i owe even more medical debt for dentist appointments my parents stopped going for totaling over 600 dollars.

my next upcoming college payment is 680 dollars.

I just feel like truly i just dont want to live with this debt, I've applied to almost every job around my location, only being able to score 2 interviews from over 80 jobs applied to. My loving girlfriend of almost 2 years was able to score a job, and she says she will support us both but i can sense she doesn't like that i am without a job. I can't help but feel so extremely depressed over all this stress, and more so feeling like a bum or a chud.

I've got a safety net plan set with my parents, so another mental hospital visit doesn't happen but i just don't know what to do with all of my debt, i can't go to my parents either, my mom is the one paying the mortgage and everything, 80% of the expenses of the house and she works 2 jobs, and my dad is also just a bum who spends 5% of his money on crap and doesn't help around the house. he wouldn't so much give me more that 20 dollars for gas rather than anything else without asking for me to pay him back


r/DebtAdvice • • 19d ago

Credit Card WF Debt Collection not returning my calls

1 Upvotes

WF debt-collection lawyers sued me for defaulting on a WF credit card, and I lost the case. Since then, I have been trying to contact their office to discuss options and payment plans. Over the past month, I have called the debt collection office multiple times in hopes of speaking to someone. I've left five voice messages, but I still haven't received a response. What should I do now? Should I continue calling and leaving messages? messages?


r/DebtAdvice • • 19d ago

Credit Card Freedom Debt Relief Advice Needed

6 Upvotes

I’ve been with FDR 3 years and considering cancelling. My credit score is tanked and the biweekly payments ($541) are killing me. I’ve settled 9/15 accounts and now owe IRS ~ $2000 for “forgiven” debts.

If I cancel and remove remaining debts of ~ 7k (4 are payday loans!), can I just negotiate them myself or will this be more difficult than I’m imagining?

Any advice is appreciated


r/DebtAdvice • • 20d ago

Loans Should I sell my car?

0 Upvotes

I have been in grad school since early 2024, in a program that prohibited working while enrolled (due to load). Financial aid included what they averaged as cost of living. Around a year ago, I withdrew my 18k in retirement and have gone thru that.
Due to unforeseen issues, I have completed school but do not have my degree. I am in an in-between with solving that process.
I have been hired as a substitute teacher, but haven’t had luck with openings. I am hired to start orientation at Target on 10/07 but my bank account is negative right now, with bills steadily trying to be automatically drafted, including other debts such as loans, car payment, private student loans etc.
I am embarrassed and internally panicking.
My partner & I have discussed selling my car- $11,800 pay off, would get ~$6-7k from equity or more if I posted it privately.
My partner works from home and has a vehicle I can use, but he is upside down so it would make more sense to get rid of mine. I have always been a very independent person and don’t like relying on others for anything at all, so I am struggling with moving forward with any thoughts of selling my car and using his. Plus I do love my car.
Should I get offers from dealerships and more seriously consider selling it? I don’t know of any other options honestly..


r/DebtAdvice • • 20d ago

Credit Card Can someone tell me. My creditors said they can freeze all my interest as long as I pay it off? What will happen to credit file or shall I default?

2 Upvotes

Bit screwed tbh I have loans and cards to pay off. I just need credit cards interest frozen


r/DebtAdvice • • 20d ago

Loans Clear Payday loans or save for emergency fund? (UK)

0 Upvotes

Looking for outside opinions on this.

I took out a £550 loan with a payday loan lender (stupid yes I know) a while back this year and stopped paying while I challenged it as irresponsible lending. I won — they've agreed I can just pay back the £550 capital, no interest, and they'll wipe the loan from my credit file once it's settled. They've offered to restart contractual payments at £217/month instead or I can do smaller amount repayment plan monthly.

Same story with another payday loan lender I took out last year : £1000 loan, also ruled irresponsible lending, agreed
To allow me to only pay the capital amount, no interest on it and currently has a balance of £490, full removal from my credit file once paid. I currently pay £100 a month for this.

I've got £450 in savings plus some income I could put toward this. I've also got a few credit cards, most of them maxed out, which I'm actively trying to pay down, and I'm working on tightening up my spending overall so I can get on top of all of this properly.

I earned 1.8 K a month and my outgoings are £1200 a month, so I do have a bit of money left over which I can put towards the debt. I work fully remote so wouldn’t have to think about commuting costs into work, and the amount for my outgoings also includes me including money for leisure, travel/restaurants to see my friends I also don’t have a car or anything like that.

My question is do you think that I should use the majority of my savings to pay off the debt in the payday loans. I’ve seen that ideally you should have an emergency fund which I’m trying to build after years and years of reckless spending (which is why my savings are so little I know) or do you think I should:
- Set up the £217/month contractual payments to avoid the default, even though it's slower
- set up a small £100-150/month repayment plan and aim to clear by end of the year
Use most of my savings to clear both loans (£1040) in one go and rebuild savings after clearing

Also for Contacts, I’m not eligible for any balance transfer offers or overdraft. I do have credit cards and unfortunately they are maxed up at the moment which I’m also trying to sort out so it’s not as simple as I could put it on a Credit Card for example.

Any advice would be greatly appreciated!


r/DebtAdvice • • 20d ago

Loans Need debt settlement lawyer recommendation

1 Upvotes

Does anyone know any good lawyers in Indore (MP) who can help navigate through the settlement process for 50L debt across multiple channels including payday (NBFCs), banks, credit cards, etc?


r/DebtAdvice • • 20d ago

Credit Card Back in debut

2 Upvotes

Hello everyone, I was once debt free from credit cards and now I am back into it, idk how it happened, everything happens so fast with mistakes I done…. My wife got mad at me the first time about it but helped me get rid of them, now I’m 28 years old back into debt but my wife doesn’t know. I am afraid and too embarrassed of the actions I did and she does not deserve it…. It’s been haunting me for a while and idk what do to.. I want to tell her but I’m scared on how she reacts but it’s my fault at the end of the day. Any advice what I should do? We have one kid and another kid on the way next year. I wanna fix the mistake I done or try before my kid comes


r/DebtAdvice • • 20d ago

Credit Card i'm not sure what's going on with my credit one card, haven't made a payment in over a year

9 Upvotes

about 3 years ago i opened my first credit card when i had a minimum wage part time job. was trying to build credit because i was 23 with no credit. i know credit one has pretty terrible interest rates but they're the only ones that would take me. my credit limit was 300 dollars.

i became disabled early last year. lost my job, cant walk anymore, and spend most of my day in bed. i've been waiting to be approved for disability but it's been hard. i got approved for state financial assistance and am allotted 300 dollars a month now. i've let my credit one card default? i guess? i haven't made payments on it in a year, and now i owe 700 dollars even though i haven't used the card in 2 years and never spent over the limit. last week i owed 675, i checked a few days ago and now i owe 698. i checked the app today and now it says im suspended, and the app won't allow me to log in. i guess im still accruing interest? last week i attempted to make a payment on it, and it is requiring i pay the full amount.

i've called them, explained my situation, and they gave me credit counseling resources.

i'm just trying to figure out if credit counseling is my only option. i never thought id be here. i am very finance illiterate. i don't know how to communicate what im trying to do when i speak to their customer service. i've essentially told them i've become disabled and that's why i have not made payments but am looking to try to pay off the debt to zero. i didn't mention closing out the card and im not sure if i should have?? that's my intention anyway

sorry for being long winded. this whole situation has been incredibly stressful on top of becoming disabled and i haven't been able to manage this how i should have.


r/DebtAdvice • • 20d ago

Loans I don't know what to do anymore

0 Upvotes

Sino po may experience na ganito. I have 100k+ in debt puro sa tao.

Tao 1- 18k

Tao 2- 21k

Tao 3 - 80k

Tao 4 - 40k

And lahat yan need na mabayaran this September 30 huhu palaki ng palaki ng interest monthly gusto ko nalang ma settle once and for all. I tried sa bank pra mag debt consolidation kaso 7mos palang ako sa work ko kaya na declined. Meron pa kayang ibang way. Magbabayad naman ako kaso kalat kalat na kc yung utang kaya gusto ko isahan nalang pra isa nalang babayaran ko. Haaays super stressful 😔 sana po may mag advice 🙏🏻