No. of Recommendations: 5
Certainly paying off is possible, but the first thing you need to do is look at your expenses. You're running over every month, and you need to get that spending cut back before you'll really have any success. For the next month or so I recommend the good old-fashioned method of writing down every penny you spend. It'll be tiresome, but if you don't know where some of the gaps are you'll never really get ahead.

But yes, you can do this. Plenty of other people have made it, and you can, too.

What book did you read?

Depending on a number of factors, credit card companies may or may not be willing to work with you. You can't count on it. Don't make any assumptions about what will happen. And if they did forgive any of the debt you'll have to pay taxes on it, which may well bump you up into a higher bracket.

So, start by looking at your spending patterns and where you can cut back, at least for a year or so until you have more control over your money. And please come back and ask for help whenever you hit a snag. We adore giving advice.

Hang in there.

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