Credit Card debts

Hello all, I am new to this forum. I'm a college grad student, and have about 4k in CC debts that I am current on. However, money is tighter than ever, and I don't know how much longer I'll be able to keep up with them. I've been reading through the posts, but am still confused. Should I let my accounts become delinquent and deal with a CA, or what? By the way, the my 4k is spread out evenly over 4 different cards, so the most I have with any 1 creditor is $1000. What should I do? Please help!


Thanks to all,


B.

[Jerseee]

Brent,

Welcome to the forum and welcome to your first steps to freedom.

to answer your question, you need to study. You need to study and learn what this is all about. I am under the presumption that you are new to this--according to your post.

this is not meant to throw you off or belittle you in anyway. But for you to get the desired results--study is necessary.

A good place to start is on this site. Understanding who you are, where you are, and how you got to the place that you are at--is key.

I know this sounds like a riddle but it is not. For example, to find out where you are, read the Constitution and you may learn that there are 2 places called "the United States of America".

these things are important to know as it relates to your situation. Have fun

[Ice]

Brent,


Your post leads me to believe that you are not really in bad shape... just feeling the crunch.& If you can hang in there long enough to do the research you may find answers to your questions... look at whatever contracts you have with the CCC's as you study.


An easy way&to eliminate your credit card debt&would be to "consolidate" all those cards into one payment at a much reduced rate of interest... and then get rid of the cards.& A "Bank" could help you with that... if you've got good credit and/or some kind of collateral.


Or you could pay a very high fee to one of those "eliminate debt" companies -- that may or may not actually accomplish anything at all (yes, that's right folks, some charge thousands of dollars and DON'T DELIVER on their promises).


But no matter how you handle the situation IT WILL COST YOU SOMETHING. Either "money" (a term used loosely due to the fact that there really isn't any) or time and energy doing the necessary research.


You are at a good starting place.& There are plenty of posts in this forum... don't forget to check all the pages, don't let the "title" of a thread lead you to believe there wouldn't be something posted in there that you don't need to know and ask questions when you need to.


Also, check the downloads, Front page stories and the links section for more info.


If you really want to get started on tackling the debt -- read the "contract" first... pick it apart, word by word.& You will need a good law dictionary (Blacks).


This&may not have been what you were hoping to hear... but we all must remember that there is no "silver bullet".


Ice

[suijuris]

I agree with Ice - consolidate the debt first so you will deal only with one party, not 3 or 4.

But when doing this, do NOT allow the debt to be secured using a house, car title, etc.

Then read these forums to see what others are doing re unsecured debt, and have fun!

Regards,
Sui Juris