I'm in debt.., What should I do? Options

[Jen]

I am about $8k in debt. My credit score is a 600 , and my income is so crappy.. that I don't even want to post it.

I was in more debt, but I have paid a lot of it off.

Should I get a consolidated loan, and put all of my bills into one?

I asked someone, and they said they could only give me a credit line of $2200, or something.

I'm just so confused.. and I just want to not worry about making 5 payments a month.

Does anyone have experience in this kind of thing, and could help me out?

I'm going to go to the bank sometime this week and see what I can do, but I'd like a little advice beforehand.

I am STRESSED to the MAX.

[CAMAricer]

$8K may seem like alot of debt, but trust me, the amount of money I owe eclipses that amount by many times over.

Consolidation is not a bad idea. Credit scores are easy to fix. As soon as you start making payments and begin lowering the amount of revolving credit, your scores immediately will start going back up. And yes, the best way to consolidate is with a personal loan from a bank or family member.

It's a shame that you don't have more credit cards right now. Yes I know that sounds stupid (what I just said), but many credits cards right now (due to the economy) offer balance transfers at LOCKED APRs of 0-5%. So if you can, try going online and searching for all these credit cards companies that are offering 0% balance transfers with fixed APRs on all transfers. It is important to make sure that the APR are fixed for a good amount of time (of forever). Then after you switched all your debt to these credit cards, cut them up so you never can use them and make sure you make the minimum payments on each one.

Yeah, it'll take alot of book keeping to make sure all of them get paid on time, but in this way, you can take advantage of all of the low APR offers out there. I, myself, have transferred about $40K onto my credit cards and have fixed them to 0% and 2% APRs which are WAY lower than my student loan interest rates!

PM me if you want to know more about how to do this.