My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. An

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I have asked him what he do if he could get them paid off. He told me he would cut the cards in half. He said the bank will not give him a loan because it would be an unsecured loan since he does not own his home or a vehicle that is worth more than the money he needs to borrow. He is not able to make the minimum payments every month and has to also deal with over the limit charges. He has asked me what to do. I suggested trying to open up a new credit card with a 12 month 0% interest introductory rate and transfer the balances but be sure to cut the cards in half first. But that will not work if the new account's credit limit is less than he needs to consolidate the two. He is looking for a solution that will help him pay off his debt. Is there a way he can do this without finding a better paying job?

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

No more credit cards. Get Clark Howards book that helps kids with finance. www.clarkhoward.com

See if your son can get a second job. Also consider Consumer Credit Counseling service...they are free...

You can also call the credit card companies and explain the problem and sometimes they can help by reducing the interest rate. It happens.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

He should pay them off immediately to avoid the extra interest on the revolving credit, then cut up the cards, terminate the accounts.

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My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. An

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