I need help getting out of credit card debt! How do I?

Okay, so I got myself in a little trouble this past year. I have exactly 3795.02 in credit card debt.
Here are each of my cards and the debt I'm in

W.F- 752.78, interest rate 15.15%, Min Payment; 25
PP-1,293.73. Interest rate 23.99%, Min Payment; 42
D-524.54, Interest rate 21.99%, Min Payment; 25
M-1,223.97, Interest rate 24.50%, Min Payment;40


I cut my cards up, and I now only use debit cards.

I JUST got a full time job, and I am able to pay these accounts off in the next 3 to 4 months.

How should I do it? One account at a time? Split the money equally in between each account? Which account first, and which one last?

I pay the min. payment on all of them, I've never had a late fee. When I can I pay more on the accounts.

Your interest rates are through the roof. If you have any savings at all then you need to take it all and put it all on these cards to help pay them off. If you are paying this much interest then it is non-nonsensical to hold savings in any other account, they will be worthless by the time your interest adds up. It sucks to dip into savings or sell things you want to keep to pay of debt you shouldn't be in in the first place, but it is worth it in the end to just start from zero again. Don't buy ANYTHING you don't NEED, for the next little while. Cutting your cards up isn't enough, you need to start keeping track of your spending habits and start budgeting yourself. I suggest you get a note book and start keeping track of all your spending so that you can figure out where you are wasting money.

See if you can consolidate your debt, it will help you to get it paid off.

Call each of them up and see if you can negotiate a lower rate. Maybe you can. Doesn't hurt to try.

After that, pay the minimum on each and put your extra money on paying off the card with the highest rate first. Then do the same on the next highest, and so on.

It's great that you're learning how to do this, and that you cut up the cards. Good for you! Then you won't get in trouble again.

I would suggest finding a low interest card that will allow you to roll over the balances and put them all on one or pay them all off with the lowest interest card that you can get or have. This drops you to one payment. Make at least 4 times the minimum payment and more if you can until paid off. Credit cards can be use full if you know how to use them properly. Most people do not and get them selves in a position such as yours.

For each card, pay the minimum required.
With the remainder of your money that you can use to pay off the debt, pay off the card with the highest interest rate. When this is paid off, pay off the card with the next highest interest rate. This will minimize the amount of interest you pay.

I hate to give out Dave Ramsey's advice, but you might benefit from the "snowball" technique. While paying the minimum balance on the other 3, throw all the extra money at the D to get rid of it first.

[ This gives some people a psychological boost; AND eliminates one monthly payment.]

{And I am sorry you cut it up. You could come out ahead if you used D after it was paid off, and then PAID IT OFF IN FULL EACH MONTH - as if it was a debit card that just took a long time to draft the money out of your account. The secret is to remind yourself when you charge something, the money in the bank is gone ( as in committed, not to be spent again).

[ Note: you would have saved some interest charging more on WF and less on M and PP - if you had the credit available on WF.]

{ Credit cards are handy for REAL emergencies, too. } - if any of them have annual fees, cancel them after they are paid off, and save that expense, too.

Then work on M, because it has the highest rate, then PP, and finally WF

EDIT: considering you plan to pay them off in the near future, the cost of a balance transfer would not be justified {not worth the expense - unless it cost zero - which rarely happens nowadays.}

Some of the advice you've been given is not so good.

First, don't bother with balance transfers. You have to pay the transfer fee which is 3% to 5%, depending on the card terms. Shifting debt around is not paying off the debt.

Take a close look at your budget. Take every penny you can squeeze out of that budget and throw it at the highest interest rate card,while making minimum payments on the rest. When the highest interest rate card is paid in full, move to the next until they are all paid in full.

Paying off the highest interst rate first means you will waste less on interest and will get the cards all paid off faster. The Dave Ramsey method of paying off the smallest balance first is for people who need gratification to keep them working on paying off the cards.

When you do get the cards paid off, only charge what you can afford to pay in full every month. There really is no advantage to carrying balances and making minimum payments.

Do not balance transfer - not worth the fee if you can pay them off in the next few months. Paying extra toward every account will take a while to pay off any one account and free up a minimum monthly payment. Target debt by paying the minimum payment on 3 of the accounts and paying all the extra to one. Once that one's done, put what you were paying on it toward the next one.

I'd leave WF for last. Start with M or PP - pretty close in interest rate, balance and min monthly payment if you're confident you can pay them all off in 4 months. If you're not sure, go for D so it's one less monthly payment (if you're plan is solid, make this one #3 on your list). Below is an excel template that can help you run scenarios about which one to pay first.

The following tips will help you get rid of your credit card debt:

• Assess your current status
• Cut up all of your credit cards
• Review your budget
• Lower your interest rates
• Make a plan
• Seek professional help

Learn more at the following website:

Im glad i always had common sense not to spend money i didnt have lol. but sorry.. heres my suggestion to you.

Use the WF card or find another that has a low low interest rate. pay off the others on the one with the small interest rate so you arent payingso much money in just interest alone.

If you have a family friend who has money see if they can give you a loan instead of a bank, they wont charge you interest.

Sell things you dont need, a good rummage sell can always give you some more money :) Put that into paying off your debt.

If youre female you can use your womanly wiles and get money easily. May not be for you, but its an option.