Any advice??

Posted by wishcould_turnbacktime (198.81.26.170) on March 02, 2003 at 03:37:13:

Hi! Ok this is kinda long--but i'll try to make it as short as I can.
I'm 26 and am about 15,000 in credit card debt and student loans(3,000 for the loan and about 12,000 for the credit cards) I had at one time 5 cards(damn CC companies targeting 18yr olds :p
anyways, I dont have the exact amounts i owe on the cards with me but the lowest is 750 dollars and the hightest is 5,600. The average is about 1-2,000.
I have not paid anything on them in almost 2yrs. Yes I know I am a big, stupid, idiot. So I dont need the lecture.
I dont want to go into personal info(cause I could write a book) but basicaly I was raised by my granparents they died--I moved back home from school to help care for my grandma before she died after she died I lived with my uncle who was emotinally abusive--I could not move out or i'd be homeless. I lost my job(I was NOT fired, I am a really hard worker--but I waitressed and the restaraunt changed owneres and closed for remodeling. The economy was bad I could not find a new job and at the same time my car broke down.
BTW i'm not trying to justify not paying the bills or give a poor me story--just wanted to give a little background.
over a year ago I moved from IL to California to be a nanny. I'm now working that job about 15hrs a week(the girl I watch is older and in school most the day) and I work 30hrs a week at another job, I also am going to school(2 classes a week at a local Jr college)
I make about 1400 a month(currently, in the summer my hours will prob change and I may make less) but I figure i'll make at least 1,000 a month.
I recently paid off the back tuition bill I owed at my old college and i'm working on paying off my student loan.
I know my cc accts are in colelctions and most of them I have letters from the collection places.

so my questions are:

1) how can I set it up so I can pay on the bills but not be using all my income to do so--do I pay one off at a time or what. I dont want to not have any money, things do come up and I would like to be able to put osmeting in savings. How do I work that out.

2) will I have been charged late fees and interest for each month I did not pay, or is that no longer charge once the acct goes to collections?

3) should I consolidate--I have heard some peole say yes to do it,but i've also heard that the companies will suck your money away and the process doesnt help any

4) is there a way I could find out what I owe for each card and start a payment proccess now of a small amt per month and then in a couple months start to pay more? I ask this becaues right now I am saving up money for next semester at school and I have to pay 1,000 for my moms funereal costs that I still owe. Therefore I wouldnt be able to pay any substancial amount until at least May at the earliest.

5) once the cards are finally piad off-how long until i'd have good credit again. Would I actually have to get another credit card to get my rating back up? I have not used a card in 3yrs and I really dont want too. I have a check card--but that is the only one.

6) how serioulsy do apartments and the like look at credit. Right now I have free room and board but I cant stay here forever and in a year or so i'll be trandferrring to get my BA and I'll most likely have to move nd get my own place.

Thanks
~:)

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