Deep in dept , first steps to fixing credit

[sjla750]

I'm just got a job again that is secure and is bringing in an income again. I'm pretty deep in dept though to try and pay off any of these cc's and a small loan I have. I  mean should I start paying them again or just file bankruptcy. if my option would start paying my debt off, what's the best way to go about this, because min payments won't cut it.

[NCperson]

declaring BK is a very big and costly step - and one that should not be considered lightly. it should be your very last option and no where near your first option. 

first, go to the local library and ask if there are any community self help programs (free) to help guide you through the best steps to take.   Go see that organization and see what guidance they can offer you.  

then, call the company with the biggest debt and see if they are willing to negotiate anything; be prepared for that card to be turned off.  if successful, go to the 2nd biggest one, etc. 

lastly, line all the debts up and after paying the minimum on all the debts, begin to pay down the debt with the highest interest rate

find a way to cut your spending habits.  Cut up all the credit cards and begin paying cash (debit card) for everything 

sorry you are in this situation

[NikD34]

Good on you for trying to figure out how to get back on track financially! I tried for many years to get ahead and was never successful until I started to use a budget. There are lots of them out there, so find one that makes sense to you and that will be easiest for you to follow. When I was in deep trouble with credit card debt (before my budget days) I worked with the local Consumer Credit Counseling program. They reached out to my creditors and then I made a monthly payment to CCC and they paid the creditors. They paid off the lowest balance first and then rolled that amount into the payment that was being made to the next lowest, etc. Each card was getting a minimum amount sent to them each month, but as the smaller debts got paid I could start to steam roll into the next debt. It did take a good deal of time to get all my creditors paid off and I thought I would NEVER get ahead, but today I'm sitting with a credit score over 800, I have a significant savings account, I'm purchasing my home, and I have no credit card debt. I'm living proof that this can be done. Good luck to you!

[Mutarnabeauti]

Okay