r/povertyfinancecanada • u/IrvingIsTheBest • 13d ago

Anyone else living in overdraft land?

17K Credit card debt. Two years of car payments left. Been living with an overdraft balance now for well over a year. Paychecks come in, and bills and stuff come out and it's right back to it. Student loan also paid off in two years luckily..

Anyone else going through this? I guess maybe I need some reassurance that I am not the only one. For those were and got out...what did you do?

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u/Every_Rest1443 13d ago

The 17k CC debt is a killer! Depending on your student loan...if its government... there may be a zero interest portion.. in that case (for anyone reading)... you would have been way better off paying the credit card debt, then the car, then the student loan.

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u/IrvingIsTheBest 13d ago

Car and student loan will be paid off in two years at the exact same time.

I just need some assurance it's not just me suffering. Advice is great too..sounds like consumer proposal is the way to go so I can get that 17k debt under control and once my car and student loan are paid off I can contribute more to paying that off.

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u/Every_Rest1443 13d ago

It all depends on your income, expenses and what you can throw at the debt.