Stuck

Contact your creditors and explain your situation to them. Some of them will work with you until you are back on your feet. Do not try to ignore them or you will find yourself in a collection nightmare. Better to be straightforward. Make sure you prioritize first though. Your rent/mortgage, food, utilites and transportation come before unsecured debt. Do not make any commitments that you can't afford. You can start working on credit repair later. You are young and have plenty of time. Good Luck

Welcome to the Community :D Frogpatch is right, the first thing to do is contact your creditors. Alot of them have programs set up where they will drop or lower your interest to help you catch up. If this doesn't work, you can consider other options such as consolidation. Since you have registered, someone will contact you and discuss options you may have concerning your debt. You are young, and taking care of this now, and learning how not to repeat it, will be of great benefit to you in the future-Good Luck!Feel free to ask questions..Karen

What you have learned in the last two years will come to use now. Follow the advice given above. Call your creditors and work out payment arrangements with them. This is one best move you need to make now. Look for a new job at the same time so that you don????????t have problems in keeping up with your daily needs and continuing the plan.

In a world were cash is king, credit simply takes second stage. The point is even if your credit is lousy you can still get a loan on a house or car if you saved up 30% down payment. It is easier to get a loan with perfect credit but a lender is still going to work their butt off for you if they are worth anything if you walk in with a big down payment. Credit repair is simply a matter of your income to debt ratio and your payment history. If you want to keep a decent score then you have to make your payments on time so it really depends on how well you are doing that and you have to keep your debt to income ratio as low as possible. If your credit is already full of late payments and non payments then it is already shot probably. If you are in that situation your best bet is to save up chunks of money and start settling on delinquent debts. I prefer to work from smallest to largest. If you are still current on your payments and you want to keep a good score then you will have to do your best to make the minimum payments. I would call and try to get better rates on all of them like was suggested if you are paying on time. The interesting thing about a credit score is you can repair it and make it decent in about a year so even if you royally mess it up now because you are jobless and have no income it is still fixable over a fairly short period of time as long as you do not file bankruptcy.

Right now you need to concentrate on getting a job or two or three. You also need to eliminate as many payments as possible to conserve money. If you have an expensive car with an expensive car payment then move down in cars. The best car is a paid for car even if it is an old car. Get rid of cable and cell phones and any other monthly bills that are luxury and not necessity. Get a roommate to split expenses or move in with your parents. I rented a room for 2 years at 225 a month including all utilities. That????????s a huge savings given that typical apartment rent runs 500 min plus another 300 min for utilities. I saved a minimum of 12,000 dollars doing that and a made some good friends.