certified shopaholic deep in credit card debt

I've had my first credit card and as expected, it went all the way up to its limit. That's common for first time credit card holders. Well, to start off, you should be able to manage your income. Give a good percentage of it to your credit card balances. If there is absolutely no choice but to pay the minimum, then by all means go ahead. This will ensure that you'll still have good credit standing. But hopefully, you can pay most of not all of your current month's balance. I am slowly recovering from my dilemma on my credit card. The good thing is that I've learned the effects of "putting the card to limit". Oh and don't get another card for now. Just one will do. Take care of it and pay promptly, it will go up eventually.

All I can say my dear is that you are in big trouble.... Actually, you can start off by NOT using your card. Try to pay your debts even if its just the minimum. Control yourself from shopping SINCE you cannot afford to pay it all. For every action there is always a consequence. Later on your credit cards application will not be granted because you'll be blacklisted from all banks. I f you have work, try to set aside money for payments of bill. Shop only when it is necessary like food and groceries. Start now while you are still young. Good luck!

Can you return some things? Sell some of the items you've bought on EBay or in consignment shops? I would start out by trying to find as many small things I could do to bring in some money, and throw them all at one of the cards (after the minimums are paid). Are there ways you can reduce your expenses? ie. get a roommate? Is there any way you can increase your income? ie. a second job - which would also decrease the amount of time you have available to shop, but might make it easier to justify shopping. I don't really know how to handle the shopping addiction. I ended up not going into any stores for about 2 years, not even grocery stores. I can now go into stores and not buy things, but it took a lot of time to reach that point. I went to the library a lot.

This is really sad, camcam - and it's excellent you recognise the problem and would like to do something about it. I've always told my children to get debit cards rather than credit cards, so they can only use money they actually have. Do you have more than one credit card? If so, it would be a good idea to keep only one - the one with the lowest interest - and cut the rest into little pieces so you can't be tempted to use them. Maybe you could return some of the goods you've bought to the shops if you haven't used them - for instance, clothes with tags still on, etc. I'm sure you realise the high interest rates mean you are paying much more in the end than the goods are worth. Do you have a friend who is good with money who can sit down with you and help you work out a budget? Maybe you could also avoid hanging around shopping centres for a while. Good luck - and I hope you are able to beat this problem before it ends up making you ill, or having your electricity cut off.

You should stop using your credit cards until all your debts are paid. Also learn to limit yourself so you'll never have problems with debts again.