Full Time College Student with 9K in debt
Date: Tue, 12/11/2007 - 18:43
Just from reading past posts and replies, you have been pretty helpful. I am new to this and not too sure as to what you will be able to help me with or inform me of. I have occurred nearly $9,000 in credit card debt and also have ~$25,000 in student loans. I am doing an internship this semester, my last semester, at STARR Commonwealth and have nearly been promised a job (22,000/yr) for when I graduate. I will be done with school in May, but I do not want my credit to suffer more than it has already.
I have accounts with:
Bank of America
Capital One
Charter One
CITI Bank
Walmart Discover
Home Depot
With the poor Michigan economy my dad, a self employeed contractor has not worked much and I have helped to support my family, especially over the last year and therefore have no money saved up to submit to companies. I plan on working full time, if not more this Christmas break, just to pay this months bills. I work 6-10hrs/week at school for minimum wage. I try to talk to the companies, but I have no money to put down right away. I have paid 2 of these bills this month to become current, but my phone is shut off and I am now broke.
Please help with any suggestions you have. Anything will be greatly appreciated....
Welcome to the forum! You are definitely doing the right thing
Welcome to the forum! You are definitely doing the right thing in wanting to get these debts under control now, and get back on track. You don't want this situation looming over you once you graduate.
If you clicked on the option for a free, no-obligation debt consultation when you registered with this site, a debt counselor should be contacting you shortly.
They will be able to discuss your situation and the options available to you. A debt management/consolidation plan seems like it would be a good starting point. You would make one affordable monthly payment to the consolidation company, and they would distribute the funds to each of your creditors every month. Once you have made so many consecutive payments, the consolidation company can usually get the creditors to lower or waive interest/late and overlimit fees, which is a huge help.
