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Thank you, Centex, for the awesome tips! I hadn't thought about shell-gaming my debt, but I do see that I'll save a bit since it'd be 1.99% vs. 26.99% for 12 months. On the downside, CC1, my highest balance card, is held at the same bank as CC2 with the 0% interest rate, and they won't let me do an internal balance transfer. I like the idea of waiting or looking for another external balance transfer offer, so I'm going to keep my eye out for that. My student loans are all federal, and in looking into refinancing, my monthly payment would jump from $217 to almost $400. Right now, I need the lower monthly payment, so I'm going to just keep riding it out as is until I'm at a point I can try to refinance. I looked at my statement the other day and of the $217 I pay, only $11 went to the principal, the rest went to interest. CRAZY. To me, the pet insurance is worth it, and I'd honestly go bankrupt or sell everything before giving up my doggo. Go ahead and rip me for that, but for $60/month, I get 2 free comprehensive exams a year, he gets all his vaccines, and flea/heartworm prevention. He's my buddy and keeps me sane, so the least I can do is keep him healthy
Hi Centex + cv91915. Thank you both for the responses. Here are my limits and interest rates. the 0% APR card is only good until October 2020, then it'll be 7.99%. Hearing that I'm not THAT underwater on my makes me feel a little better, but I do have 112,000 miles on it. Balance Interest Limit CC1 $ 8,462 18.00% $ 12,100 CC2 $ 4,673 0.00% $ 25,000 CC3 $ 2,267 23.15% $ 7,000 CC4 $ 1,230 23.99% $ 5,500 Car Loan $ 7,508 3.39% Personal Loan $ 8,099 11.99% Here is a breakdown of my utilities, etc. Water $45 Electric $110 Trash/Recycling $25 Internet $70 Cell phone $110 Car Insurance $160 Pet Insurance $60 $580
I am looking for some advice. I am able to make all of my payments, but I feel like I'm spinning my wheels and getting nowhere. At the end of the month, I have approx. $290 leftover as "discretionary income", but this goes towards gas, groceries, etc. Any extra cash I get, I throw at my debt, but that means I have $0 to add to my savings. Since I have $0 savings, anytime I have an emergency (like a medical issue), I end up having to put it on a credit card, pushing me futher into debt. I would like to avoid bankruptcy, because I don't want to lose my car or house. With $16k in credit card debit alone, I'm wondering if that's my best option though? I know my federal student loans will keep haunting me for life regardless, so I'm honestly just paying the bare minimum to avoid harrasment/garnishments. I'm also practically underwater on my car. . . I was quoted it's worth at $6,900. CC 1 CC 2 CC 3 CC 4 Car Loan Personal Loan Federal Student Loans Mortgage Total Debt Balance $8,462 $4,673 $2,267 $1,230 $7,508 $8,099 $59,850 $101,358 $193,447 Interest Rates 18.00% 0.00% 23.15% 23.99% Payments per Month $150 $100 $70 $40 $295 $328 $217 $730 $1,930.00 Utilities, etc. per Month $580.00 Bring Home $$ per Month $2,800.00 Leftover $290.00