$23,000 in Credit Card Debt

[Tree0164]

If you are making 40k and you are living at home you should be able to pay this off in a year tops. You just need to budget and stop spending. Sell the all the electronics and gadgets and getting a second job will help you even pay it off quicker.

[maat55]

Thanks Maat. I really appreciate it. So I would probably have to open multiple credit cards to funnel the 23k to correct.

How would the process go?

1. Find credit cards with zero percent balance transfers
2. Apply for them
3. Hopefully be accepted
4. Contact amex to see if they accept me to transfer a balance transfer over?

I've never transfered from one card to another. If I were going to, I would ask the new card company how to do it. You do not need AMEX permission. Surely someone will come behind who has done this.

[cesave]

It wasn't an official business. Just one that I freelanced basically. I make 2400 per month so I should probably start increasing my payment from 1000 to maybe 1300 a month. Ask for a lower interest rate maybe down to 14% and see if I can get a full balance transfer. Any more advice? Thanks so far

[cesave]

I just got in over my head. My total debt right now is 20k on Amex and 3k on a credit card I just opened last year. I should put bigger payments to Amex and just hold on the other card correct and make small payments?

[cicy33]

actually it would depend on the interest rate, which is higher? and if you paid off the smaller card then it would open up that amount to pay toward the amex with what you already pay.

[jIM_Ohio]

It wasn't an official business. Just one that I freelanced basically. I make 2400 per month so I should probably start increasing my payment from 1000 to maybe 1300 a month. Ask for a lower interest rate maybe down to 14% and see if I can get a full balance transfer. Any more advice? Thanks so far

doesn't matter freelance or whether you had a tax id. See a competent tax professional. You can probably write off some of the losses.