my life is down the tubes
Date: Wed, 06/27/2007 - 21:52
You can do this! Your only 20 and with a little help you ca make
You can do this! Your only 20 and with a little help you ca make things work out. There is alot of tool on this site that you can use and alot of good advice. Take advantage of the free consultation.
mommontoya is right, you are young, you can be rid of this debt
mommontoya is right, you are young, you can be rid of this debt and move on with life. You will learn a lesson young, which may be a good thing. Has a counsellor called you yet?
Since you have registered with the forum, a debt counselor shoul
Since you have registered with the forum, a debt counselor should be contacting you withing the next day or two. Please don't feel discouraged because all of us here came here with the feeling of despair. Please know that you are not alone and you will soon feel some relief :-) I think a debt consolidation plan would be the way for you to go. Please research any that you are thinking of joining in the near future. My husband is with our local chapter of Consumer credit counseling. You can find their information in the yellow pages. Please keep us updated on your progress :-)
I know many Americans would disagree with me but in my opinion y
I know many Americans would disagree with me but in my opinion you should never own a car that is equal to 50% of your annual salary. Basically you are sinking a bunch of money into an item that loses value every day plus car payments simply erode any wealth building ability you could have.
My advice would be sell the car and buy a 2000-4000 car with cash if you can. Buy it from an individual not a dealer and have it toughly inspected by a mechanic before you give them any money. Try to keep up with the student loan payments. The interest rates on them are probably pretty good and they are not bankruptable. You can apply for hardship probably and defer payments if you need to but making 30k you should be in position to make the minimum payment. If you are already behind on the other debts I would let them sit and save cash until they contact you with a settlement offer. If it is possible you should move in with your parents or rent a cheap apartment with a roommate or rent a room in a house. I rented a room from someone out of the paper that became a friend for 2 years at 250/month including all utilities. If you follow all of the above steps and are conservative in your day to day spending you should be able to knock out everything but the student loan in a year.
Just for the record my first full time job paid 30k as well and I followed my advice almost exactly. The hardest part is sacrificing the car.