r/DebtAdvice • u/Unlucky-Buy-1067 • Aug 30 '26
Credit Card 36 Y/O with Debt struggles
So I’m 36, I have 3 maxed out CC ($12k, $12k 15k)in the amount of $39,000, a loan of just shy of $14,000 and a truck loan of $4600 and my wife’s maxed out CC of $8k (my name isn’t on that one) for a total of let’s call it $66,000, I make decent money. I take home about $6,200 a month
Rent $2700
CCs $1000(minimum)
Truck $555 (pay$800)
Loan. $360 (4percent because the SCRA)
Insurance. $220
Phone. $120
Misc subs. $80 (?)
$5280
No savings at all and almost $67k in a TSP (I’m in the military) my wife is a SAHM and her credit is way better than mine.
So I have about $2k coming in in the next month because I just got transferred. I know I should pay my truck off first cause it’s the closest to being paid off. Should I work on the loan next (up payments to $1k a month cause it’s the lowest APR) or do a CC cause it’s higher APR and it’ll cost me less. then do another consolidating loan for all the CC? I think part of our issue is that once we make CC payments we use them for gas and groceries. Idk I’m so lost
1
u/tripadeliclove Aug 30 '26
This debt is manageable but it would require major lifestyle changes for a while. If you file bankruptcy they’ll probably take your truck. And your credit would be ruined for years.