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Originally Posted by KellyC
Oh god, this is all very depressing to learn. If I had know about this I wouldn't have spent so much. Ok, a few more questions.
Regarding all those agencies/organizations that offer to help you lower your CC debt, do they work? I hear nightmare stories about them. But with all this new info, I'm starting to really worry. Should I contact one? If so, which is a good one?
Guccilvr, my CC issuer is Boeing Employee Credit Union (BECU), the largest "nonprofit" credit union in WA and they're fucking me up the ass. (P.S. I already called to freeze my limit).
I'm trying to save up so I can study in Japan in the upcoming Spring quarter but looks like it's not gonna be possible anymore.
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My credit union suggestion was geared towards the banking side of things, not the credit side. I've never dealt with a union on the credit side, but have only good things to say about their regular banking services. Of course, every credit union is different so a little research would need to be done.
If you are managing your minimum payments at the very least, DO NOT, I repeat DO NOT call a debt management solution company. That will negatively affect your credit ratings and you will be seen as non-trustworthy in the eyes of most lenders. IMO debt management solution companies are the last step before bankruptcy. On top of that, you have to wade through a ton of BS companies before you find one that actually does what it says and won't ping you like crazy.
You have 1 CC. It has a high limit and purchases on it right now, but just sacrifice some things for now and at least maintain the minimum balance. It's not ideal, but it will help you out in the long run to maintain that balance until you find a better solution in terms of paying more or transferring the balance to a better card. Find your TOA and read it about 10 times and find out what it really says. TOA's can be tricky.. you'll just need to set aside some time and really dig into it.
The more you know..