Any advice for financial hardship????

I owe about $20,000 in student loans ($175/mo) but I plan on getting my masters so the payments will freeze.

I owe about $6000 on a car (192/mo)

$6000 in credit card

$800 in car repairs on Firestone card

$500 for furniture on a NFM card

$700 in other debts (two other cards)

I applied for a personal loan to pay off these credit cards and put it in a lower interest rate... I can pay my car payment and rent just fine... it's just the credit card companies have ridonculous minimum payments. Is the loan the best thing for me to do?

I'm applying for part-time jobs and looking for a room mate right now, but if consolidating these payments to one lower interest payment, wouldn't that be good enough?

I can afford my lifestyle, I just got screwed over when I had to buy the car and repair it!

Please advise.

Any advice for financial hardship????

If you get a good interest rate, the personal loan is a good idea. Just make sure you keep your Visa/MC's open and close out the furniture and Firestone cards.

If you get turned down for the personal loan, ask a relative to co-sign. If you cannot get a co-signer, your goal is to pay off the smaller cards, first, with that part-time job.

Any advice for financial hardship????

You could try your local credit counciling agency. They might be able to help you get a consolidation loan and arrange to have one managable payment split up between your debtors.

Aside from that, the standard advice is to pay off your highest interest loans first (usually credit cards) and to stop using the credit cards altogether.

Is there a car co-op or car share program in your city? The car sounds like it's the biggest expense right now. If you can ditch the car and find a more affordable alternative, you might have to consider that. Or, a radical thought, arrange your own car-share and share the costs of your car with a friend who needs the occasional use of a car.

Can you arrange an interest free loan from a family member to pay off some of your debt? You never know until you ask and the worst they can say is %26quot;No%26quot;.

Good luck..it really does all work out in the end....it just takes time, planning and then sticking to the plan.

Any advice for financial hardship????

You need to get a roommate right away. Try craiglist or roommate dot com. Next you need to get a job right away. There are alot of jobs hiring now for the holidays and if your good they will keep you after the holiday season. Your main focus should be to pay off the credit card debit right away. Take all the extra money you have now and e ven once you get a roommate and job and pay it towards your charge cards. Start with the debt accuring the most interest each month and pay everything you can to it. Once its paid off take all that you where paying to the debt you paid off and add it to your next debt. You will be in the habit of spending that amount towards bills so keep doing it and before you know it everything will be paid off. Best of luck to you