How do i pay down over $7000 in debt making $10 an hour and raising 3 kids?

I need help paying off some debts that includes credit cards,hospital bills,overdue bills and misc.. I am raising 3 beautiful children working and job making $10 an hour. I need to at pay these debts off in at least the next two years.How do i pay down over $7000 in debt making $10 an hour and raising 3 kids?
If your credit card bills are in collections, they sometimes make discount offers in order to clean off their books. Many times the discount is 40-60% off depending on how high the bill is.


On your other overdue bills, have you tried to call the companies involved to setup a payment plan? I recall having to do that and most of them were very willing to work with me. You can sit down and figure out exactly how much you make per month (from past pay stubs), and your normal monthly expenses, then you would know what you could afford to pay towards the overdue bills.


I am also including a link to a non-profit agency that may be able to help you, or at least guide you further.


Hope this helps!How do i pay down over $7000 in debt making $10 an hour and raising 3 kids?
Assuming you work 2080 hrs a year, you are grossing 20,800 a year. With 3 children, you most likely have no state or federal tax liabilty, so your only payroll deductions should be FICA. Your net weekly income therefore should be approximately $368 /week, or 19,136. If all of your debt was interest free, it would require you to pay $67 a week to eliminate your outstanding debt in 2 years. Since this is rarely the case, you will need to pay all the interest each month, and pay an additional 290.00 a month against the principle to be debt free in 24 months.
make sure you dont charge any more on your credit card. do not pay minimum balances ever. try paying @ least double th amount due if you can. You should also call all your credit card companies to lower your interest. Its quick and easy. If you stop charging your card and making purchases on only things you really need and then paying it off then it shouldn't be a problem.
You can negotiate the debt with the creditor's for a lower amount. Instead of Birthday gifts or ect. Request someone 2 payoff a bill. You can also check your credit report to see if anything is worth disputing.
not a problem i was in the same boat. i owed about 9000 but i payd it off in half the time and only paid about 4500. this company helped me get a lower monthly payment and they even cut my debt in half.
you'll need a plan and some fortitude.
use time