Need advice...

Oh, I forgot to mention that my credit score is now in the excellent range. Matt was mad, cuz for so long, my score was better then his, but now he is like 10 points higher then me and we are both in the exellent range, so I know that whatever compnay I used was legit and is helping me clear it up. Here is the website - Consumer Credit Counseling Service of Delaware Valley

Wow Carly you had a great experience and Jacqueline had a bad one. Hmmm. I think it depends on the company you use. Some are legit, some aren't. What company did you use Carly?

Why can't I just win the lotto?

I went back and edited my posting after I realized that why not just post it, if they were/are good to me! Here it is again - Consumer Credit Counseling Service of Delaware Valley

Thanks Carly! I am def going to look into this.

Glenda, I feel you on this one, Will and I have been working really hard to get our debt down too.

As for the student loans you can apply to not pay them for a year or so if you are hitting hard times, don't remember exactly what its called. Also since the interest rate is really low right now can he consolidate his student loans to a lower interest rate and lower payments. Also has he gotten some of his loans knocked off for teaching? I get 5k knocked off in another year for teaching in a public school that is on the list, he should check to see if his is on the list.

I had a card that had an outrageous interest rate and got a bank loan for a much lower interest rate, a line of credit is what I got.

I asked for forbearance twice too. They extended it for me for another year because I called them when I was trying to save money for the wedding. I've found that the student loan companies are really flexible.

I also consolidated a few years ago when it was at an all-time low. It truly reduced my payment a ton too.

This is so weird I keep trying to post and it won't show up. Hmmm.

Anyways here are some responses:

1. He already did forebearance once before. I don't want him to do this again b/c it just accumulates your interest so it would actually just end up hurting us in the long run.

2. He has already consolidated his student loans, they are actually not bad, we are locked in at a super low rate b/c we went to grad school right after 9/11.

3. We have tried to get him another credit card with a zero percent balance transfer or a lower percentage but to no avail.

4. All his other bills are things for the car so its not like we can avoid making payments on anything else.

5. He just bought the car so he can't sell it. His lease literally just ended last weekend and he decided to buy the car which was a huge mistake on his part.

6. He does have a second job, he is a bartender. The bars are not doing well b/c of the economy so things have been really tight lately.

Here is my generic non-professional advice:

1. Call the credit card company and ask them to reduce the rate. I've heard about this being successful. They just might work with you! You should google this and find some "scripts" to use.

2. Cut expenses! Go on a serious, major budget. Tackle the debts with living below your means. It's truly the only real way to get ahead.

3. Like Christa said, sell the car. Seriously, I know that sounds drastic, but you are talking about planning for your FUTURE. You need a secure future, not a fancy un-paid-for car.

4. I don't know if I would bail him out, personally, until you are married. This isn't a judgement against you (you know I love you Glenda!) but what message does it send if you just bail him out? Ultimately, he has to learn to live within his means. And it will mean more to him if he conquers this himself.

5. Why not go to the library and buy some basic personal finance books to help guide you? How can you get James invested in solving this problem for himself?

Anyway, I know this is a major stress-causer and I don't want to sound harsh. I just think you have to sit down and talk about your values and what you want out of your future together and how your debt is preventing that.

Love you girl!