No. of Recommendations: 1
Hey Boomer!

I feel a little guilty since we incurred our debt because of carelessness and purchasing our "wants" as opposed to our "needs." You, however, got into debt because of medical reasons.

Be that as it may, I we are both in the same predicament. I also considered HEL and debt management, but the wise "fools" out there gave me much needed advice and support. See my post under Debt Management and the positive responses I got.

Anyway, I decided to fight my own battles and get my CC rates down myself. I am happy to say that I consolidated my balances into one CC with 7.9% for nine months. I will renegotiate at that time or look into a low rate loan from my credit union or play the CC transfer game. I would advise you to negotiate your CC rates down, as I did.

Go to ideas on how to negotitate your rates. I used these techniques to get mine down.

My boy will start preschool soon, so my wife will start to work to take up the difference. We are also looking into renting out one room for now. Also, we will have yard sales to raise a few extra bucks. Eventually, we are thinking about turning the house into a home-health business, but that will take time.

In the mean time, I wish you well. Keep your head high, my friend!

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.