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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit Card Debt - Best Approach? Date:  10/6/2012  12:04 PM
Author:  aj485 Number:  306015 of 310619

He had accumulated on 2 seperate credit cards a total of near 50,000 in debt.

Has he stopped using the cards?

He has a total income now of 52,000 per year.

With annual income slightly more than his debt, if he buckles down, he's still in a position where he could pay the debt off, although it will probably take a while.

With other expenses related to living he is in a jam.

Has he examined his 'other expenses related to living' to ensure that he has minimized them? Is he tracking his spending so that he knows what his