Drowning in debt...

iVillage Member
Registered: 07-27-2004
Drowning in debt...
5
Tue, 08-31-2004 - 3:28pm
So I feel like i'm drowning in debt. In total, I owe about $6500 in credit card bills and $12000 in student loans. On top of that, I still have rent, insurance, utility bills, and daily expenses to pay for. I make less than $30,000 a year and I am so struggling to make ends meet. What makes it even worse is that my credit is failing miserably..one of my credit cards is in collections and I just paid it off by borrowing from my parents (which I will have to pay back, of course)..I am feeling so horrible. I just want to scream.

Has anyone else been in a similar situation and, if so, how did you get yourself out? I don't charge at all anymore and I am really trying to pay off my debt, but there is only so much I can pay with the money I make. Any advice??

iVillage Member
Registered: 08-31-2004
Wed, 09-01-2004 - 8:24am

Hi, I'm new here but I found your call for help and I remember that feeling.

Always Seeking Forever Learning

iVillage Member
Registered: 09-01-2004
Wed, 09-01-2004 - 4:21pm
I unfortunately don't have an answer for you, but I am in about the same situation. Student loans, credit cards, etc. The credit cards I haven't touched since college, but got behind, and fees keep piling up. It angers me to pay them, like throwing money in the air, when I have rent, utilities, and other expenses. I have a good job and live alone, but I don't make a ton of money (gross 30 K). I will admit that I spend more than I should, but going out for drinks with friends really outweighs paying money on a Discover card I haven't used for five years, you know. Having friends is an important part of keeping my sanity, especially with these debts! It's an endless circle.

I have the added twist that I have to travel for my job, and that requires a credit card (the company reimburses us within two weeks). I've told them my situation, and for now other people use their credit cards for me, but I feel like a mooch, and I can't further myself in my job (and thus make more money) unless I make impressions on the road, and doing that requires a card!

There really isn't an answer anyone can give me, I'm just looking to vent, and realize that I'm not alone in this situation! It's depressing when you think about it too much! Any thoughts, anyone?

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 09-02-2004 - 7:59am

Hi Tianne and thanks so much for posting.

All my best,
Danni

iVillage Member
Registered: 08-25-2004
Thu, 09-02-2004 - 12:27pm
Hello Daphne,

You mentioned that you need to use a credit card for work when you travel. Have you considered getting an American Express corporate card? They don't let you carry a balance month to month. You do have to pay off the balance when it's due, but if you are only using that card for business-type expenses, the reimbursement should arrive before the bill shows up. I'm an administrative assistant and thus end up booking catering, travel arrangements, reservations, etc. with an AMEX card that I get reimbursed for. There are no interest charges because the balance will not carry over to the next month.

Sincerely,

Lindsey Schocke

http://www.tinyurl.com/5vcog

iVillage Member
Registered: 07-27-2004
Thu, 09-02-2004 - 4:24pm
It really helps to know that i'm not alone. I HAVE been considering picking up a second job just to pay off some of my bills..maybe at the mall or something. Anyway, thanks for all the advice and input! Good luck to everyone!