wildcatvball13 wrote:I guess it is because you are over the limit, but damn. I had 8K on one at one point and my minimum payment was 60 dollars or something. I would definitely call the CC company. Tell them you KNOW you have to pay and that you will, but get that 550 a month down to 200 or something until you get back on your feel again.
There's about $6,200 on my credit card right now. And there's probably late fees on there too.
I am in so much financial trouble. I don't know what to do.
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 Mistress Darcy |
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Posts: 11984 (10/20/2009 5:00 PM) |
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SelFish |
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Posts: 9250 (10/20/2009 5:02 PM) |
You can also get assistance with your utility bill by calling them. They have assistance. And you can defer your loans. That doesn't erase them, but it
will let you get caught up a bit.
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Samantha James |
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Posts: 17659 (10/20/2009 5:08 PM) |
SelFish wrote:  
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SelFish |
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Posts: 9251 (10/20/2009 5:16 PM) |
FYI to the OP, call your credit card company immediately and ask them for help. Just say, "I have to make a payment, is there anything you can do to help
me?" And they'll work with you. They've waived my late fees before, which are like $39 and some crazy banana shit. I cried to the lady at BOA the
other day and she was like, "Oh...you poor thing." She actually did feel bad for me, which meant as much as if she would have waived the fees. HAHA.
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 SmoothlikeButta |
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Posts: 11789 (10/20/2009 5:36 PM) |
Definitely call the credit card company. That minimum payment just seems very high.
What kind of student loans do you have? Are they private? Do you mind telling me who you make payments to. I used to work with student loans so I can give advice depending on what kind of loans they are. Private loans are evil, they pretty much won't work with you no matter what you tell them. |
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Oh reallly |
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Posts: 2630 (10/20/2009 5:49 PM) |
Alicia wrote:Also whatever you do try not to use that credit card anymore. I was in a similar situation and now I'm not well off but I am not in debt but I did a lot of scrimping on a lot of things and I do have a credit card but it is locked away for EMERGENCIES only. It took me 5 years to pay it off and I will never run it up again. If I don't have the money I just do without rather than charge it. I'm sure in time you will be debt free also it will just take a lot of work and time. Good luck! Can you see about paying your student loans off once you finish school? I know that is what my brother did but I know there are all kinds of loans so I'm not sure if that applies to your situation. Also credit card companies are pretty good about working with people as long as you make a payment. Maybe you could call them and ask if your monthly payment could be lowered. P.S. Play lotto.... 
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theNavigator |
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Posts: 1289 (10/20/2009 5:56 PM) |
Aww ur not alone girl.
 take it easy sometimes a bath and breathing in and out helps me.
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wildcatvball13 |
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Posts: 7724 (10/20/2009 6:01 PM) |
Thanks everyone for your suggestions! I put my most expensive sallie mae loan into forebearance, so I feel a little bit better.
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thetruthmaker |
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Posts: 1375 (10/20/2009 6:02 PM) |
As someone who has been in your position (financially), keep the faith. I was in WAAAAY more debt and I'm finally beginning to see the light at the end of
the tunnel. Its manageable, its not hopeless no matter how much it may seem like it.
Hang in there. |
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TR2119 |
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Posts: 11688 (10/20/2009 6:05 PM) |
SmoothlikeButta wrote:Not really. I've had the same thing happen. If you don't make the minimum payment a few months in a row, your minimum payment blows up and is this totally ridiculous number that I will never have intentions on paying at one time.
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tp 09 in the house |
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Posts: 1526 (10/20/2009 7:18 PM) |
I feel so bad for you but I know exactly how you feel with credit card and student loans.
First, what are your student loan providers? Call them and tell them you need forbearance not a deferment. It shouldn't cost you any money. Maybe if you asked for a deferment that's why they gave you a price? I'm not sure. You should be able to get at least 3 months on forbearance and certain loan companies allow for longer. --- That is if asking for a deferment doesn't work. I didn't realize you were paying while in school. Second, call the credit card company and be completely honest with them. Just call a customer service rep and tell them that you know you have to pay and you want to but right now you just can't. They most likely will ask when you can and you can give them a date if you know when you'll be able to make a payment. If you don't have a date just tell them that you can make smaller payments but are unable to make that high of a minimum payment. They will work with you to get back on track. If you avoid it they can eventually send it to collections and charge it off which in the end will hurt your credit and they won't work with you at all. For me I told them I was unable to make a payment and they set me up on a payment plan. It is for a certain amount each month at 0% interest but they close the card and keep it closed. Cheesy as it sounds if you are honest with them and don't bs them they will help you out. They also knocked off my late fee and over the credit fee too.
Edited By: tp 09 in the house
10/20/2009 7:38 PM.
Edited 1 times.
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PeachesNCream21 |
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Posts: 5672 (10/20/2009 7:27 PM) |
1st STOP using the CC. Lock it away or freeze it in the freezer.
2nd make an appointment with your financial department at school for advice on loans. Maybe you can refinance to something that will be deferred until you graduate (like a lot of people do) 3rd call the credit card company. Explain your situation and tell them you want to work something out. If they know you are trying, usually they work with you But you must stop using the CC or ask them to freeze it (maybe it would even show a good faith to them that you want to pay it down and won't rack up more charges). Good Luck and you will get through this. College years are tough! |
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mynamebesarah |
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Posts: 258 (10/20/2009 7:42 PM) |
I was in that situation last year. I still have debt, but I'm at least caught up and current with all my bills with a little bit of breathing room in case
of an emergency or something.
What I did: 1. stop using your credit card! 2. Eat in, and eat cheap. A package of chicken breasts costs about as much as a fast food meal and you can get 2-3 meals out of it and it's healthier. 3. take as much overtime as possible, if available. 4. i advertised on Craigslist for odd jobs. I babysat, I dog walked, I cleaned a house for a lady before Thanksgiving, I sat for an elderly man a few times during my free time. It's all under the table money and I was able to put it directly towards bills. It was gruelling and exhausting, but it definitely helped me get current with everything. |
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Kisses4NSync |
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Posts: 12305 (10/20/2009 8:05 PM) |
Wow that sucks..and yeah I agree that you should stop using the credit card. Close your account. I closed my CC account. If I can't afford to pay for it
myself, then I shouldn't be getting it.
Also, maybe you should try getting a job at Wal-Mart or McDonalds. Obviously not the most glamorous jobs in the world but it pays more than serving...and you don't have to worry about customers leaving you shitty or no tips. |
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MissyJG |
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Posts: 3534 (10/20/2009 8:33 PM) |
Excuse my ignorance but is it because of the economy in the US that you can't find a better paying job? All the graduates where I live find a good paying
management job or whatever (I go to business school) within about 3 months. Plus do you guys get some sort of student finance in the US? Over here all students
who have the nationality of this country get 300 dollars every month for free for 4 years. I think tuition fee in US are much more expencive too though
isn't it? Over here it's like 2500 dollars every year (but about 15000 for foreign students). I'm lucky though that my parents always chip in for
me.
Anyhow, hang in there. Eventually you'll get out of it! |
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Pliant Pineapple |
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Posts: 47281 (10/20/2009 8:36 PM) Funniest JJBer '06
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MissyJG wrote: Most student loans in the US have to be paid back, and tuitions here can be quite high depending on the school. If you win a scholarship you do not have to pay that back...but winning a scholarship is competitive and not everyone gets one. 
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BradH84 |
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Posts: 2576 (10/20/2009 9:00 PM) |
TP 09 In The House... when you say they closed the card and worked out payment plan with 0% interest do you mean they stopped charging interest? Is that even
possible? I hate it when I make 100 OVER the minimum payment and get a 75 dollar finance charge. Im never gonna get out that way, Im nearly 7000 in debt on one
card
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DoesThatSparkle |
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Posts: 5768 (10/20/2009 9:04 PM) |
What city do you live in? Do you live in a big city?
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dogfoot75 |
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Posts: 1033 (10/20/2009 9:15 PM) |
If you're in school, then you shouldn't be paying money on student loans. All student loans can be deferred with no charge as long as you're taking
classes.
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Mistress Darcy |
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Posts: 11987 (10/20/2009 9:31 PM) |
dogfoot75 wrote:Not true. I don't remember the specifics of it, but that is one of the things they nailed us about during our loan counseling session. Being in school is NOT automatic deferment. |
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