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H-1B Second Round Lottery for the 2022 Fiscal Year
In the upcoming fiscal year of 2022, the USCIS has made calculations on the number of H-1B visas to offer to randomly selected applicants based on acceptances, rejections, and revocations provided for previous years. The initial lottery selection for the H-1B registrants was provided for in March 2021.
https://visaserve.com/lawyer/2021/07/29/H-1B-Visa/H-1B-Second-Round-Lottery-for-the-2022-Fiscal-Year_bl42197.htm #h1b #h1bvisa #h1bfiscalyear2022 #visa #h1bregistrants #nonimmigrant #immigration #uscis #employee #employer
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Don't do personal bankruptcy if you can avoid it. That will also negatively affect your job prospects as they can do a credit check on you at anytime just as they can do a background check on you. As others have said; hit the high apr stuff first; once you get each card to a balance that you could pay it all off at once, do it and then go back to the high apr cc's. keep this cycle up until you pay it off. Use all bonus money to pay down cc's. also, change your tax withholdings so hat you don't give the government an interest free "loan" the whole year. It's better to owe the IRS money than it is to owe credit cards money. If you don't want to do that, then use your tax return each year to pay off more cc debt.
Agree with @bcg1. I was in a similar situation. Only thing i found that work is to pay down one at a time- pick one to focus on and pay minimums on the rest.Trying to pay off a little of each every month didnt do it
Beg your parents to live at home. Eat ramen noodles when you aren't expensing meals. Don't go out. Don't go on vacation. That's an absurd amount of credit card debt.
Higher interest rate gets priority so probably CC
I didn't have a job for a year and hit hard times. Two kids and wife. Can pay all of them but not usually to much more than min. Never defaulted tho.
How do you manage to get into 42k CC debt? Let's hear it and we go from there~
Just used a bonus to pay down and plan on using them going forward.
Stop spending. If you can get any sort of bank loan to pay off the CC it will carry a lower rate, just don't use that as an excuse to spend more
Seriously you are in a ton of debt. Pay off credit card first and live as cheaply as humanly possible until then
If you can only pay minimum right now you're losing the war. Save money somewhere and make a change
You might be worth more dead than alive.
Geezus what did you buy? 2 cars??
CC debt first because revolving, higher rate and not tax deductible
Does your wife have a job? How old are your kids? Do they have a job? Do you have an extra job? I would be driving Uber or trying to do absolutely anything from a side hustle perspective to get some increased cash flow. What is the interest rate on the 42k? Honestly every cent will help and it will get easier and easier once you start forcing it down.
Make a budget to understand your repayment capacity and depending on that you could either get a new cc with 0% APR for 21 months (depending on your payment capacity) and/or personal loan to transfer the cc debt to lower your rate
I'm currently doing the snowball method ($40k credit cards, $40k student loans) due to similar unemployment woes. It's slow but worth plugging away!
Double down and pile on more debt ;)
Download Debt Strategy app, get all your bills/rates ready and input them all. Does snowball method for you and tells you exactly how much to pay on each account each month. NO new purchases, and I mean none. I paid off $55k in two years that way.
@OP Rule of thumb, don't include an expected bonus in your budget. You may not get it, and it should be just that - a bonus. Bad habit to get into. Set a schedule to pay it off within your current means, then assess what to do with your bonus when/if received. I'm not saying you shouldn't use it to pay your debt, but you'll never get ahead unless you change the thinking behind it. There's a reason you got in this situation and much like a diet doesn't work, you need to make permanent life changes to lose the "weight." Said with love from someone who was in the same shoes. Get real about your spending.
Save money, pay ASAP per above. Pretty simple