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I have a pretty heft debt on my hands, i don't want to go into details but I'm about 6 thousand in debt maybe a little more. I have been able to manage it somewhat until now, meaning i have been making the minimum payments, however now I'm in trouble because I'm not making as much money as i used to and i don't have the money to pay the minimum payments. I know that if i go to my mom that she will immediately help me and most likely just pay off all the debt so that it doesn't hurt my score, my first problem with this is how do i even bring such a topic to the table? Secondly, i don't want to do this i would rather try to deal with it myself first, any suggestions of what i can do as a 21 year old college student? Please help with any advice you may have thanks its greatly appreciated.
u think 6k is a lot of debt i personally know people with 180k of student non dischargable debt.
i admire your morals of not going to mama.
when u make a mistake its painful and the intent of the pain is so that u do not repeat the mistake. learn a trade free thru community college and military.
I'm about 6 thousand in debt maybe a little more... as a 21 year old college student?
This is not particularly exceptional. The relevant questions, are
1) how many credit hours you have completed... and
2) how much more time/money will be required to complete the BA/BS... and
3) will the degree qualify for a job that pays well enough to repay the debt (promptly)... and
4) what sort of entity you owe the money to.
At 21 you should be about done with school and soon (June 2014?) qualified for a decent enough job
that will allow you to pay back that debt in a year or two.
I'm graduating next semester, i have a trust fund that pays for my college no problem there. Lastly yes i am earning a business management and french degree so i believe that i will be able to pay back the debt maybe in the next year, I'm not sure because i have a lot of other things to pay for living in nyc.
so is it worth telling my mom? or should i just wait until i get a good enough job and pay it off on some kind of arrangement? Do i call the credit cards and tell them i can't make monthly payments right now?
tell her that i ran up this debt buying vacations and electronics and all kinds of stupid things when i was 18. or do i wait till i get a good enough job hopefully by this summer and begin paying it off now? i don't want debt collection agencies to begin to call me
tell her that i ran up this debt buying vacations and electronics and all kinds of stupid things...
Who is in charge of the trust fund?
Unless it's Mom... I'll suggest you deal with this **independent** of her.
Either way... try to deal with this **independent** of the trust fund person as well.
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