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50k Credit Card debt!


KIcking Around!
Verified Poster
Jul 29, 2018
What would you do? How can you get to that stage to able to be in dept in that amount. Plus isn't just one card it can be mixed into three or more.

I hear this all the time! and most asking help or advice to get them back on track. How would you go about this
It depends on your job. I mean, 2 thousand monthly for two years is reasonable.

But, of course, you would have to make double or more.
As you pay off that amount you also have the loan fee, No idea what the cost be since each bank might have different charges but can say it won't be cheap. like $5,000 can cost an extra $300. So many people lost there homes/cars. So full time job is needed I mean very.
People do, schools don't teach about managing money and finances. You have to learn the hard way, unfortuntely. Here are some tips if anyone on FunBiz is in Debt. Try Cleo on Facebook, an AI which monitors your money 24/7 and informs you of any changes that happen to your Bank Account.

  1. Spend only what you can afford.
  2. Don't miss payments (set up a direct debit or pay it of in full every month)
  3. Don't lend your card
  4. Limit the credit you have
  5. Think twice about spending, i.e can you afford this and is this essential or can I wait until the end of the month?

You can easily get such Debit cards, but you should have some money incoming every month around $3k or above. Here it is not hard to get such cards, but repayment would be very hard for loans or credit cards.
I don't think banks allow people to spend that much money on debt unless the owner has a really good salary. The bank knows that sooner or later they are going to get that money back either by good will from the customer or by forcing him to do it