UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: ncleblanc Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308782  
Subject: HELP-$11k in CCDEBT Date: 5/24/2001 9:51 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
This is my first time on the site and I love it!!

I need help---my husband and I have accumulated $11k in credit card debt on top of about $8k in student loans I am paying $250.00/month on and will be until June 2004. We recently had a beautiful baby girl and I am only working part-time to cut out any daycare costs. We own a home and just refinanced at 7.125% for 30 years. We also are at the end of a lease on our vehicle and need to buy a new vehicle and need 4wd because of the location of our house. I feel totally overwhelmed - we are able to meet all of our monthly bills, but I'm starting to feel like the cc debt will never be gone. Should we take out a personal loan or consolidate all of our debt. We both contribute to 401(k) and/or deferred comp. plans - should we stop those contributions - I am 27 and my husband is 30??


We really want to start a College Fund for our Daughter who is 7 months old - but realistically we know we need to get out of debt first!!

Any advice would be greatly appreciated!!
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement