I highly recommend the below website (Consumer Credit Counseling). Their budget counseling services are free and you can do it online – http://www.cccsatl.org/.
I was reading your post just now. My thought is that you work on paying off the debt with the highest interest first, even if it may not be the smallest debt. The higher interest means the debt will grow faster. That’s just my thought, you may see it differently.
Please forgive me if someone has posted this idea..
If you are having trouble paying off credit cards and are to the point where you don’t think you can pay anymore contact the credit card company and explain the situation. Advise them you no longer can afford to use the card and request that they set up some type of payment plan if they want their money.
Believe me most of the time the card company will work with you if there is a chance they may wind up not getting anything.I
I had to do this a while back . In my situation the credit card company “blocked” use of the card (basically closed the account for purchases) and lowered my interest rate to almost nothing – which helped greatly in paying the thing off. Once it was paid off the company asked if I would keep the account. I requested that the credit amount be lowered to $100 and then cut up the card. This way it still shows up that I have credit but I am not using the card anymore. I seriously considered closing the account, but have heard that closing the account will sometimes hurt your credit score more that just leaving it open and not using it.
I now use cash for purchases and reserve credit for emergency items (tires, $$car repairs). I’d agree that paying your debt in interest order is the best (eg, mathematically most efficient) way of doing it, although some people prefer to pay off in order of balance (lowest to highest), as it can sometimes be more philologically rewarding to see the number of debts going down.