Quote:
Originally Posted by 4X4
Please don't take this like some kind of holier than thou retort... I've been where you are.
$5000 is not much debt. If you want to do anything at this point, find a way to pay it off without help. You'll learn some fine money management skills.
It may seem like an insurmountable task, but five grand can be paid off pretty quickly if you apply yourself. Minimum payments wont get it done (as I'm sure you've already realized, hence the investigation into consolidation). But consolidation doesn't help you all that much. Only unless the consolidation cancels the cards you're spending on. If your loan pays out the cards, but then you have a clear balance on all of them, it wont be long before you're $10,000 in debt.
I learned this lesson. I had a $1000 debt on a visa card when I was 18. Then MC sent me a card with a $3000 limit and enticed me to put my visa balance on the MC. Oh, I did that... Then I spent my visa again, bit by bit.
Find a part time job that you hate. The more you hate it, the less you'll want to be in debt. This is a lesson you'll only ever have to learn once.
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Trust me I've learnt my lesson, I know I can pay it off, and I have it figured out on how to it's just the interest on one card that is driving me crazy. I'm one of those people that can't stand having multiple payments, having one payment would make life soo much easier for me. I have a job, and I make more then the minimum monthly payment, but lately my money has been going towards helping my parents out and I'm in full time school. It seeems as if the debt just keeps getting bigger and bigger...