Any advice for a recent college graduate with a lot of debt?
Date: Mon, 11/17/2008 - 21:41
Hello all,
I just registered to this site today, and have been reading a lot of the great information posted here in the forums. Here is my story:
I have had much unsecured credit debt throughout the years due to horrible credit management but have been able to reduce my debt. Back in early summer, I took advantage of Citibanks no interest balance transfer offers (no interest for one year, and 5 percent interest for the balance of the offer) I made the dumb mistake of missing my payment in August by a few days, and my interest skyrocketed to 28.99 percent. I have never payed late with my account, and tried calling twice to explain my situation but they wouldn't budge. I had put 20,000 into this account with all my credit card balances to get the no interest balance transfer offer, and now I went from 0 percent to 28.99 percent. My bill for just one month is now equal to one paycheck for the month, and that is just the minimal payment. This does not count other expenses I have, and I find myself in a difficult situation since I cannot save anything. I did find a new job, but it does not pay what I thought I would be making coming out of college, and it was difficult to find anything during my job search. At this point, I would try debt management, do you guys think this would be the best choice for me?
Thanks for reading, I appreciate any advice that could be given my way
I just registered to this site today, and have been reading a lot of the great information posted here in the forums. Here is my story:
I have had much unsecured credit debt throughout the years due to horrible credit management but have been able to reduce my debt. Back in early summer, I took advantage of Citibanks no interest balance transfer offers (no interest for one year, and 5 percent interest for the balance of the offer) I made the dumb mistake of missing my payment in August by a few days, and my interest skyrocketed to 28.99 percent. I have never payed late with my account, and tried calling twice to explain my situation but they wouldn't budge. I had put 20,000 into this account with all my credit card balances to get the no interest balance transfer offer, and now I went from 0 percent to 28.99 percent. My bill for just one month is now equal to one paycheck for the month, and that is just the minimal payment. This does not count other expenses I have, and I find myself in a difficult situation since I cannot save anything. I did find a new job, but it does not pay what I thought I would be making coming out of college, and it was difficult to find anything during my job search. At this point, I would try debt management, do you guys think this would be the best choice for me?
Thanks for reading, I appreciate any advice that could be given my way
debt management Plan (dmp), according to me is one of the best d
debt management Plan (dmp), according to me is one of the best debt solutions after Self repayment Plan. It doesn't affect your credit score negatively and in fact helps to improve your score as you start paying off your debt through the DMP.
To know more on DMP, please go through the following page: -
Debt Management - Can it get me outta debt without hurting my credit score?
You can also go through the different Debt Solutions available to you at: - Debt Solutions - 3 steps and 5 ways to do it
