Credit card debt, collections?

My husband and I built a house and it end up going over our allowed amount by 80,000. We are not sure what to do. I can only pay out 600 a month for creditors. How can I get the finance charges to stop. I have 14 cards. We thought of selling our house as a last resort. We don%26#039;t want to file bankruptcy. Please any advice would be appreciated!!! 600 a month is not nearly enough to pay for even the minimums.

Credit card debt, collections?

Definitely look into refinancing if you have the equity or option to do so. If not, I would recommend looking into a credit counseling service. It will show up on your credit report but looks far better than a bankruptcy. It shows you are responsible for your debts and want to pay them off. The credit counseling service will work with your creditors and settle the balances and possibly freeze finance charges to get them paid off. Be careful though, there are scam places too. Not sure where you are located but CCCS (Consumer Credit Counseling Service) is a good one. Good luck and I respect you for not taking the easy way out with bankruptcy.

Credit card debt, collections?

wow!!! cut up your credit cards and stop this overspending. i think u should consolidate to one monthly payment. contact your credit card company and see who they cazn refer you to so u can cosolidate and pay one monthly payment.

Credit card debt, collections?

WHAT on earth were you thinking when you did that ??? Forgive me for sounding rude, but that was NOT the brightest move you could have made.

That being said, you have incurred the debt, and your options now are to restructure said debt into something manageable. You do not say HOW you overspent the $80K, but I hope it was spent to add value to the structure, and not on luxuries such as plasma TV%26#039;s and other luxuries which are not part of the premises.

You need to seek qualified information about refinancing the mortgage OR a HELOC which will transfer the card debt to loans which are more manageable. This will lower your interest rates substantially, plus give you the added benefit of being able to take all of the interests paid as a tax deduction.