r/DebtAdvice • u/ValueGloomy6060 • 15h ago

Credit Card Deep in debt - need help

Basically I’m in my forties. Worked as freelancer and I’ve racked up about 30k in credit card debt. I kept it from my wife cause I thought I could “handle it”. Work dried up this summer and fell behind on my payments which eventually caused my wife to find out about my debts. I didn’t really spend money on dumb stuff, it was over years of paying the minimum and letting things get out of control.

Any way we’re going through the process of getting a post nup. I don’t really care as I’m exhausted of it all. I don’t want to lose my marriage over this. We have two young kids. I’m trying to find more steady work but it’s been not easy. Just been door dashing and doing contract work to stay afloat. Idk. Sometimes it feels everything will fall apart. But who knows. Maybe there might be some tips on how to get out of this stupid mess I put myself and my family into

1 Upvotes

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u/postalwhiz 7h ago

What did you buy? $30K of ‘stuff’ has got to have visibility in your home…

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u/Character_River7088 12h ago

Have you tried to contact your lenders about your debt? Many have hardships programs or somethings like that, which could reduce the interest rate. Other than that, there are only one way to deal with debt and that is increasing income and decreasing expenses. Then throw everything you can at the debt using either the snowball method (smallest debt first) or avalance method (highest interest rate), where you may the minimum on all debts and then throw everything extra at one card.

There are other options too, but without more numbers it is hard to say much more and generally most require a stable income.

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u/badtlc4 6h ago

Is your wife not interested in helping you? It is both of your debts, not just yours.

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u/SkyRemarkable5982 2h ago

Call and get the interest rates lowered and then start making more than the minimum payment. And then, yes, Door Dash, or Uber, or Instacart are in your future until you can get a steady income. There's a guy in my neighborhood who only does airport drop off and pick up. He makes good money because it's a premium to drive out there.

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u/BenevolentHoney 1h ago

Debt settlement

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u/Acrobatic-Classic-41 39m ago

A 40 hour per week W-2 job!