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  1. #1
    Join Date
    Dec 2008
    Location
    California
    Posts
    1

    Default Best Approach to Credit Card Debt

    My question involves collection proceedings in the State of: California

    I really want to go back to college and then get my major after. I would like the best advice. I'm not in collection, and I make my payments on time with all these credit cards. It will be very stresfull to go back to school full time student with all these credit cards payments. My parents will support me with school only and no job has long I'm in school full time getting those good grade, but this means that I'm going to give up paying off those credit cards bill and then go to collection. Or should I get 2 jobs and pay off these credit cards off by the end of the year and go back to school next year?

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: Best Approach to Credit Card Debt

    Quote Quoting cousin
    View Post
    My question involves collection proceedings in the State of: California

    I really want to go back to college and then get my major after. I would like the best advice. I'm not in collection, and I make my payments on time with all these credit cards. It will be very stresfull to go back to school full time student with all these credit cards payments. My parents will support me with school only and no job has long I'm in school full time getting those good grade, but this means that I'm going to give up paying off those credit cards bill and then go to collection. Or should I get 2 jobs and pay off these credit cards off by the end of the year and go back to school next year?

    Get a second job and pay the credit cards. You will be sorry if you default on these. It will prevent you from getting a car loan, a home loan and other types of credit in the future for at least 7 years and the judgments can stick with you for many years past that.

    Interest and legal fees can turn a $1,000 into $10,000 in that time as well. You do not need to pay off the credit cards while you are in school. Pay what you can but at least the minimums and worry about it after you graduate and secure a better job.

    Defaulted credit cards can prevent you from getting a good job, and can cause your insurance rates to shyrocket. It is alot more involved then just a charge off.

  3. #3
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Best Approach to Credit Card Debt

    Agree, do not default on your credit cards. You don't want to ruin your credit at you apparent young age.

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