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[quote=Anonymous]OP, please know that you are not alone. Lots of people find themselves in what feels like a hopeless financial situation. It does no good to beat yourself up over how it happened (except to acknowledge it and make the necessary changes going forward.

Without going into too much detail which I'm sure would be ripped to shreds by the perfect people of DCUM, I also accumulated a large amount of debt ($35,000). Check out Money Management International. It's a non profit debt management plan. I tried getting my creditors to lower my interest rate and even though I was a long time customer with good credit, they refused. I enrolled in MMI last year and it's been a great experience. The enrollment process was very easy. They work directly with your creditors to lower your interest and work out a payment plan. You make one lump sum to them each month (a $50 monthly fee is added into the payment). Within 10 days of my first payment, all my creditors had accepted the plan and my interest rates are all at 10% or lower. My monthly payment is $200 less than I was paying on just my minimum payments. My debt will be paid off in 4 years.  Your credit will take a slight hit at the beginning, but this doesn't tank your credit like the debt plans that tell you to stop making payments and once you're delinquent they work out a deal. There were no missed payments at the start of the plan.

I highly recommend it. They take into consideration all of your expenses when putting together the payment plan, so be sure to list everything.

Additionally, cut back on whatever you can. Cancel streaming services. Clip coupons. Stop eating takeout. All the little things add up.

Good luck![/quote]

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