I've had a lot of on/off employment since the start of 2023 due to medical issues, and I've racked up a lot of debt that I'm having a hard time paying off.
I have $3,460 on my bank's credit card, $3,164 left of a personal loan I took out, $1,334 on my best buy credit card, and $210 on my kohl's card. I finally landed a full time job after being unemployed for 2.5 months (with no success getting help from unemployment). My savings has run pretty dry, and I'm feeling very stressed about paying everything off.
I won't have any interest on the best buy card for another 10 months or so, so right now I just have an auto-payment set up for the minimum monthly payment. The loan automatically withdrawals about $250 each month, and I can't change that. I also have a bill from a doctor's office for $125 that I'm currently just ignoring. I haven't been able to do anything with the bank card other than the minimum payment for the last 2 months or so.
I'm looking for some advice. I figured the first thing to tackle is my bank card. I'm basically thinking I should dump as much of my paycheck into that card every 2 weeks until I get that down to 0. My brother-in-law just paid me $240 in cash to dog sit for him and my sister, so I think I might run to Kohls and kill off that card this week. Once I have those 2 cards out of the way, I'll only have to worry about my loan, the best buy card, my doctors bill, and my various monthly insurance payments (which is about $300). Once I have my bank card killed, I'll probably increase my monthly payment for best buy to $100 or $150, and I'd throw in some extra money as I can. After killing my 3 credit cards, I'd focus on my loan, and then my doctor's bill. And advice would be much appreciated.
original posted by MusicMonkTpt to r/personalfinance on Sun, 10 Mar 2024 15:33:22 GMT.