No. of Recommendations: 8
Welcome newfoolindebt, looks like you are in a death spiral of debt. You will receive a lot of really good advice. I hope that you and your S0 are sick of paying over and over for the stuff that this debt came from. In December me and DW had a heart-to-heart and decided that day to stop using CC. We pulled all of them out and put them all on the top of the refrigerator. We lived on two rules.

1) Can I make it this whole day without adding to our debt.
2) Go back to rule one.

If you can meet with your S0 and follow these rules you can start gaining control.

Next, you have to do whatever you can to get the monthly payments to balance. Before selling stuff, take a good look at what you want in life. If you are like me and DW your spending had very little planning involved buying this or that because we thought we needed it or it would look great hear or their. I might just as well as went to an ATM withdraw what I could and watch my cash roll around in the streets for entertainment; at least I would not have finance charges.

Planning your cash flow and getting rid of the clutter is going to give you the power to get out of debt. Best advice that I can give you is the 2 rules above. They can be easy violate them an no SO job will stop the death spiral. I don't know about you but we have had no trouble spending at whatever income level we have ever had.

Controlling your spending, and having strong goals to work for are very important as well. Do not believe the myth that everyone is in debt and we will never get out so we might as well get what we can and have fun doing it. Some fun paying finance charges are now.

Roy (whatever you do cut up the Macy's card. Please)
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.
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.