Cycle of Debt: What are my options?

[Daniel Magix]

How many jobs do you have now? What's a typical week for you? Do you have some free time on weekends?

I'd strongly suggest doing anything and everything you can to scrape together cash, and then focusing on the 14.99% card first. And as was said, take at least half of your poker roll and dump it into that 14.99% card immediately (you are basically getting an automatic 15% return on your $500 when you do this).

Return cans, give blood, have a yard sale, get a paper route, flip burgers, eat more Ramen Noodles - and put every single cent you can, into wiping away that credit card debt. I mean, you have to look at it like every single dollar you pay toward that debt, is bringing you a 10-15% return.

It sound like basic advice - work extra job, do whatever it takes to make more money - but there is no other miracle answer. Bust your ass and clear it away.

Do you have a relative with some cash, who would give you a loan at a cheaper rate? If you had a friend or relative who could give you a 12k loan, and you paid them back at 7%, then they would be making a pretty good return on their money, and you would be saving a bit in the process. Although, some people may advise against borrowing from family/friends.