Help!!

iVillage Member
Registered: 11-03-2003
Help!!
2
Thu, 09-16-2004 - 10:19am
I have written on this site once before and it made me feel better but I'm having a very hard day.

I'm currently in about $10,500 in debt with my credit cards and it does not even include my student loans. Now one of the cards is for $2500 and every pay check I put money on it. The one that is $8000 I haven't even been able to put money on it because of my other bills. I kind of forgot about it because my money focus was on all my other bills. The collection agency has called me and left a message because I need to start making payments on it. They want like $700 down right now and I just can't do that. I don't know what to do to get myself on a cycle with paying off this card.

I feel like a scumbag. I'm trying so hard to really keep my head above water and sometimes I'm even a month behind with my car payment and my cell phone payment it drives me nuts. I never let things go beyond 30 days because I don't want anything to hit my credit report.

I guess I just feel like I'm stuck and I'll forever be here. I'm only 27 but at the same time - I'm 27. I'm not sleeping at night and I'm contstantly thinking about money and what I need to pay off. I'm worrying myself into knots and it's not good.

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
In reply to: schroon2192
Thu, 09-16-2004 - 10:33am
Hey, you're NOT a scumbag! You just happen to owe some people some money.

That doesn't mean you're not a good person!

I know it's hard, but you can find a way out. Do you have a working budget

right now? Are you keeping track of everything coming in and going out so

you know where you stand? It's one of the hardest things to do, but it's so

important in gaining control. And I don't mean vague ideas of where it's going,

but seeing it all in black and white. That might help you make more sense of it

and even find places that you squeeze some money out.

Are there things you can cut? Do you really NEED a cell phone? Could you check

out a cheaper calling plan? Could you consider getting rid of the car, or downgrading to something with a lower payment?

For the card at $2500, are you paying more than the minimum? If you have anything extra, you might think about sending that to the one in collections instead to get it caught up. Maybe you could have a yard sale or sell some things on Ebay to get together some money to send to them. You just have to say "I don't have $700, but I can send $100" and see what they say. How about a seasonal part-time job? It'll be hard but it might help you get your head above water and sleep at night! I'd rather work 16 hour days than worry all the time. Even if it's only for a few months.

Hang in there! If you keep working at it, things WILL get better. We're here for you, ok?

iVillage Member
Registered: 04-21-2004
In reply to: schroon2192
Thu, 09-16-2004 - 2:15pm
First of all, let me say I am 27 also. Its so hard being a grown up isn't it? I still haven't grasped the concept.

Now, I have been in your exact situation and here is the way I dealt with it. I called the creditor myself and said " I can't pay the full $700, I just can't." I offered them a $100 and then made sure I sent it. Also, please ask about "match pay". I tried this. What it is is that you send them an amount and they match it. I sent my Universal Card $300 and they matched it with $300! I swear! It helped me get back on track. If you make a good faith effort they will work with you. The biggest mistake you can make is making an arrangement and then not following through.

kel