College Debt
Date: Wed, 08/08/2007 - 08:41
As a college student suffering from depression, I was barely able to go to classes and so money and credit was really the last thing on my mind, which became a big mistake. I went through the first few years of college in a daze, not really paying attention to the financial choices I was making; not having financial support from my parents did not really help the situation. Opening up several credit cards to afford my college lifestyle, it quickly caught up and I quickly ignored the problem. It's now a year later and I'm sure I now will be dealing with this problem for at least the next five. I am struggling to finish my last year in college and this financial cloud has affected my grades. Unable to take out loans for my last year, and still in debt from the previous year, I am stuck in limbo as the fall approaches.
Are you getting the phone calls from your creditors? If not, the
Are you getting the phone calls from your creditors? If not, then you can wait for some more time until you are able to collect some more money for repaying your debts.
Do you have some extra cash that you can put towards your debts each month? If so, then you may call the creditors and explain about your situation. You also need to draft a proposal letter and stick to the payment plan. They might offer you some benefits by reducing the interest rates after a couple of payments. You have to talk to the lenders first and convince that you have every intention to pay back your debts. I am sure you will make them work on your terms.
