Biting the bullet... feeling extremely shameful... but trying my best to get out of the hole I've dug.
39, 40k of credit card debt accrued all within the past 2 years thinking sports mem was an investment. (it isnt)
Trying to figure out the best way to climb out. I think im on the right path. I bring in 3.7k per month. will start going to the debt. Ive already taken care of the smallest card and am utilizing the snowball effect. Are there any strategies y'all have to accelerate the climb out?

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Get a side hustle. Second job, ecommerse work, anything for extra money. Sell the memorabilia. You’re going to pay more in interest on those credit cards than you will in the loss on selling if you want to fix your mistake fast.

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Thank you! I'm definitely in the process of selling and getting out!

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Sell it and take the loss. Sucks but that’s better than the interest rate on the cc

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Definitely!

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Increase income is the biggest way, sell everything you don’t need, reduce all non necessary expenses

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I was in this situation and I was able to get out of it by first opening a credit card (s) with 0% interest and doing a balance transfer, then pay the minimum on this.
While paying the minimum seek out another opportunity to increase your income, it should allow you to pay your bills while also getting rid of the debt.
Also since the debt piled up, I would suggest that you reduce your spending.

Took me a year and few months to get out of it, but also because my debt was around 20k

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When you know better, you do better. Albeit an expensive one, use this as a learning opportunity. Hang in there, OP! I agree with all the advice provided above, especially getting a second job.

What other debt do you have? I’d recommend downsizing where possible and maybe following some Dave Ramsey principles while you’re in the debt recovery phase.

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Can you shop around for a lender who can consolidate that debt for you at a lower rate?

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Depending on the cc interest rate, def worth looking at balance transfer options to a lower rate

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Who’s investing in sports mems? That’s like investing in Snapchat stock

We all have choices. OP owns making a bad one.

MI1, you need to ask yourself why you’re choosing to be an asshole in this moment by kicking someone who is already down.

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