Hello, unfortunately I've accumulated about a little over $20k on credit card debt. With the pandemic and losing hours in my industry I am making about half of what I was normally making. Long story short I am completely broke and I am wondering how to handle my credit card debt.

The debt on each card is as follows

$200, 22.9% APR

$579, 25.24%

$370, 19.99%

$621, 13.74%

$2,338, 22.9%

$1,541, 19.99%

$2,667, 19.99%

$5,776, 15.15%

$7,024, 19.99%

$3,358, 12.99%

On some of these the minimum payments are so high I cannot pay them anymore. I have not missed a payment on any yet but as my financial situation has not improved I cannot keep them current anymore.

Here is what I was thinking about doing;

1) Focus all my payments on just ONE card and create a snowball effect? (I know my credit will take a hit if I stop paying my other cards but as I stated I simply cannot continue to keep all cards current and I rather start bringing some balances to zero than spreading the small amount of money I have leftover to 10 credit cards)

2) Get a credit card debt consolidation loan which I know has a lot of problems on its own.

Any help or ideas are welcomed! I've never been in a financial situation this bad before and I'm really overwhelmed. I've already cut about $150 of expenses (memberships, streaming, cellphone) and my girlfriend will be helping me with $100 worth of rent and I'm planning to look for another job.

Thank you in advance!

submitted by /u/superm26
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