Anyone have any advice for me about my overwhelming debt?

[jjbradleynyc]

Originally Posted by Preditor74

There is no way I can hit up relatives. My parents are divorced, my dad lives paycheck to paycheck and my mom wouldn't loan me any money (she'd claim she doesn't have it). I know this because even asking for a $200 loan one month was a "I'm sorry, I just don't have it."

I have the credit card companies calling me and for the past month I've ignored all calls. I am thinking I am going to start answering, but I need gameplans.

If I can get them to close accounts, will they work out payment plans with me? If I talk with them and explain my situation, will they at least work with me as to make sure it doesnt get sent to Collections Agency?

And yes I know my career choice is extreamly difficult to get into. Thats one reason why I am paying $15,000 for a one year portfolio school.

Try to get another job that pays more $$. Key is you need more income.

Worst case scenario is that these will go to collections and harm your credit rating. They could also sue you for the money on down the road. A credit card company got a judge to put a hold on one of my bank accounts years ago. The amount of the debt with past due fees, etc., was just around $1100. Not a HUGE amount, but some debtors will take collective action if they have to.
Get a second or third job and decrease your rent and STOP using any credit until the cards are paid off.
You can get out of this with focus and determination. It'll take some time, but you'll do it! Good luck!

[stacylee926]

OP is already behind on the cc's - thus they are already reporting lates. Almost no chance of getting any loans or 0% cc's at this point with current lates and high utilization. Also, all the cards are over the limit - so she CANT use them.

The total balance due is not totally out of range and can be paid - just not now. When school is done the OP should be able to get a full time job making decent money. However, at this point the debt will be very delinquent and settlements may be the best choice. Those cards will be closed and sent to collections by April.

I would definitely consider waiting tables ASAP to start bringing in immediate cash and trying to keep the credit card's from getting too bad. Definitely get a plan and make contact with the cc companies.