Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I agree with those suggesting the debt snowball and then eventually trying to transfer as much as you can into 0% balance transfer programs.
Just a guess but lets say the cards are charging 20% interest rates. That is 9,000 dollars a year just in interest payments. So, your monthly payment consists of 750 dollars in interest and the remainder goes towards principal repayment. Do the math next time you pay and see what little is being reduced from the principal.
With a 650 credit score it will be difficult to get a balance transfer. The only way to increase your credit score is to reduce your credit usage. This is where the debt snowball would help. As many people have already explained it I will refrain from details.
Can you sell some things to help pay off the cards? Can you take on some part time work?
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
