33-Year-Old with $11,800 in Debt, Trying to Clear It

Discussion
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Hello everyone, I’m new here but really appreciate the help and advice given to others. I’m 33 years old with $11,800 in debt and a credit score of 559.

Last year, I lost my job in January and started working again a few months later as a Home Health Aide (HHA). Unfortunately, this job doesn’t pay as well as my previous one, and my annual income is now $17,956. The low income is partly because I was on unemployment for a portion of last year. I recently had a break in employment in July because the person I care for was traveling, which didn’t help my situation.

I’ve thought about bankruptcy, but friends have told me that my debt might not be high enough to justify it.

I’m seeking advice on how to handle this situation. I’ve tried searching online, but I end up confused. I’ve seen mentions of hardship plans and NFCC (National Foundation for Credit Counseling) - a non-profit credit counseling program. I’ve also come across something called a financial needs analysis to figure out finances, and advice about calling creditors to make deals or reach settlements.

Here’s my debt breakdown:

  • Apple Card: $982.70 (Min $34) - (APR 27.24%)
  • JCPenney: $1,540.93 (Min $54) - (APR 34.99%)
  • Prime Visa: $2,436.68 (Min $81) - (APR 27.49%)
  • Capital One: $2,523.94 (Min $87) - (APR 29.99% V)
  • Discover: $3,335.55 (Min $84.29) - (APR 23.24% V)
  • Barclays Financing Mastercard: $961.18 (Min $33.28) - (APR 29.99%) (This is a closed account; I opened it to help my fiancé buy a MacBook for work. He was paying it until he forgot or something happened, and by the time I noticed, it was closed due to three months of unpaid bills. I paid what was required to keep it open, but was told it would not be kept open. The debt collector later said there was a mistake. I’ve taken on the responsibility of paying it now. Lesson learned—can’t trust anyone with these things!)

I would appreciate any advice or guidance. This debt has slowly built up over time, and I’m ready to start tackling it with more knowledge. Thank you!

1 Like
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You can start off by focusing on high-interest debt hence paying off debts with the highest interest rates first to reduce the overall interest costs. :grinning:

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this is actually a pretty good idea :wink:

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Hey there, sounds like you’ve been on quite the financial rollercoaster lately—unfortunately, without the fun part of screaming on the way down! First off, kudos to you for being ready to tackle this head-on. With an income that’s a bit tighter than your jeans after Thanksgiving dinner, it’s definitely smart to consider all your options.

Bankruptcy might be like using a sledgehammer to swat a fly in your case, so let’s look at some less drastic measures. Hardship plans and NFCC are solid options—think of them as your financial personal trainers, helping you whip that debt into shape. Also, definitely give your creditors a call and see if they’ll cut you some slack on interest rates or minimum payments—sometimes they’re surprisingly willing to work with you.

And yeah, lesson learned about trusting others with your credit—consider it part of your life curriculum. The good news? Once you start chipping away at this debt, it’ll feel like you’re getting a little more control back with each payment. Slow and steady wins the race, so take it one step at a time, and you’ll get there.