I have managed to rack up about $7500 in debts

Date: Sat, 05/05/2007 - 03:51

Submitted by anonymous
on Sat, 05/05/2007 - 03:51

Posts: 202330 Credits: [Donate]

Total Replies: 1

I have managed to rack up about $7500 in debts through the years a $2700 on a student loan $800 on a messed up checking account which somehow the bank messed up but I have to pay for!?!?!? About $1000 on a credit card yeah go figure young kid gets his first real credit card and what does he do mess it up, I said oh yeah not me I won't go do stupid things with my card and at first I didn't I paid on time and then I lost my job and I got desperate and stupid and made stupid decisions. There are a few other small back bills I have to pay from places I lived and owe some money to family members but the only one I am concerned because he is having a difficult time scraping by is my Grandfather who has been more than generous to me over the years, my Grandmother just passed away and he is stuck with the bills and I would like to get the money I owe him back to him soon to get him caught up, I also would like to trade in my truck which is worth about $4000 to get a small economical car to save me the almost $80 a week that it takes me to get to work so I am look for maybe just about a grand to put with the truck to have a car all paid off and only have to pay PLPD insurance, you know cheap insurance, but the main thing is to get all of my credit back into line I have a good job now, not that I ever had a "bad" job but it's a guaranteed 40 hours a week and usually an extra 8 on Saturday almost weekly and if not every other week so that is awesome, for catching up, I just need it all in one bill to make it easier for me and to get this credit doing the impossible, get it rolling up hill because I feel like I am just at the bottom of it right now and it's time to get this life in order and get things I want and with the way my credit is right now it just isn't happening. I want to get my own home and start looking into the future and worry about my retirement and not have to work everyday the rest of my life.

Hi Brandon - welcome to the site! It sounds like you've got

Hi Brandon - welcome to the site!

It sounds like you've got your hands full, but it's not impossible to manage - there is definitely hope!

If you signed up for the free counseling when you registered for this site, you will receive a phone call from a consultant to discuss your options for debt consolidation or settlement. They will usually work with a variety of bills, including medical, credit cards, etc. However, most of them won't do anything with the amounts you owe to your family or friends.

Can you discuss your debts with your family, and show them a solid plan of action to repay what you owe them? Even if it's $20 a week, that's something, and I'm sure they would appreciate the effort you show in getting them repaid.

It sounds like you're fairly young, which is definitely on your side when it comes to retirement planning. As you say, you have a good job now, and if they offer a retirement plan or 401(k), I would urge you to take advantage of that - especially if they offer a company matching program, where they match a percentage of what you contribute to the plan.

You'll definitely want to get copies of your credit reports from all three credit bureas from annualcreditreport.com. There's no fee, and no program to sign up for. It's free, once per year, or any time you've been denied credit. That will give you a good idea of what your overall credit picture is like.

Please keep us posted on your progress - we're here to help!

lrhall41

Submitted by SUEBEEHONEY70 on Sat, 05/05/2007 - 04:51

( Posts: 4583 | Credits: )