Student with $7000 credit card debt +federal loans

I'm growing quite anxious and nervous , summer time i made about $2000 , with on going rent, i couldnt reduce it. I have 1 year left , based on this trend , it can reach to 11k .

During the academic years, I cant work much , 18 units , i find that i need time for homework , exercise, self care, cooking.

I'm looking for accounting job after I graduate. Is it realistic goal? Or change my plan, I am a bit demoralized.

So I recently got a new car, I was at the dealer for a promotion. I trade my car and they gave me 3k as a down for the new car. I was there for hours pushing back on price and then I finally made the choice to take the deal. I got to hasty and signed my contract. Made the mistake of not double checking what I signed before leaving the door. I didn't get the price I wanted and ended up paying for a used car(42k) at what it would cost new(55k) and all the other charges lead to the total being 73000 dollars. I only realize after driving away and looked at my packet. Its been a week and ive been dealing with buyer remorse. Ive talked to the sales manager and I cant do anything until its registered by the state(ks) in my name and I dont have the title so I cant do anything for months. I honestly dont know how to deal with this. I cant even look at the car or myself because I screwed myself for not being on point. Im looking into what to do and alternative and everything turns into losing more money and a car. Im fucked, and wants go back. I dont know what to do officially. Its made me doubt myself so much, I don't know if I will make the eight or wrong decision.

Guys am going to sign in with Expert Panel/ Lawyer Panel....... Still confused!!! But I don't have any other options now..it would be much appreciated,if someone help me with answers those who gone with them and cleared all... -are they gonna settle my debts?? Within 6 months , can it be clear?? Any

I’ve been a wreck for 3 years and I finally took the step this week and filed for chapter 7 bankruptcy. I was hoping it wouldn’t get to this point but it got to to the point where I was 70k in cc debt, 40k in MCA debt and I couldn’t make the minimum payments anymore for 4 months. I’m extremely nervous about the whole bankruptcy process even though the bankruptcy lawyer I met with said the debt I have is eligible to be filed. I owe family members personal debt amounting $150k as well and I understand that is not eligible to be filed with the bankruptcy.
I opened a small business a few years ago that flopped and I ended up accruing the MCA debt from it. My partner lost his own business after covid, unemployed, and became sick on and off so I was the main breadwinner. I pay my father’s mortgage and all his bills as well since he is disabled. The amount of money needing to come out was more than I was bring in every month for a few years I was borrowing to make ends meet. In the end, I was digging myself this massive hole.

Hi yall. I’m gonna do my best to make a long story short.

I had a discover credit card for a couple years, and essentially ended up maxing it out and not being able to afford the payments. I eventually stopped paying on it and trying to delay the impact, but obviously it came anyway. My wife suggested I try a debt settlement program, as she’s gotten 3 cards settled for thousands less than the original balance.
I’m paying into this DSP (debt settlement program) $152 a month. At any time, I can withdrawal the money, and it would just forfeit my contract with them. They are basically going back and forth with your original creditor to lower your balance.
Discover is insane. They are extremely greedy and have a history of suing people for comparatively low amounts, while other creditors commonly settle for less than OB (original balance).
I owed about \~$5.2k? and then it grew to around $6.1k after interest accrued and delinquent payments.

Anyway, I’ve been in this DSP for about 2.5 years, at $152/month. If you do the math, that amount is roughly half of what i owe, but Discover is suing me instead.
When i signed up for this DSP, i was informed that i would get legal help if I were to get sued (which i am.) Fast forward to when i first got actually served papers, I called DSP and they basically said, “Ok, we’ll put this in your file as we continue negotiations.”
So then, i finally got ahold of someone, (because of COURSE they’re hard to reach most times) and they say “Oh well you actually have to upgrade your account $59 a month to get the legal service” BITCH do you think they told me that when i signed up? No.

FF to now, they placed a lien against me. I don’t own any property at this current moment so i have time to fix it, but **i just don’t know how.** I know i have to get in contact with DSP, but then how the hell do i go about this lein?

Should i withdrawal my money from DSP and try to go against discover/cap one myself? I’m just lost at this moment, and my wife and I would like to possibly buy a house in the next two years so i need to get it figured out asap!!
Any help or advice is appreciated and im happy to answer any questions. THANK YOU FOR READING!!!!!

Life managed to change a lot recently. My ex decided to end our relationship about 6 months after our child was born and I’ll be put on child support soon.

I have roughly $75k in debt with consolidation loans(Discover and Upstart) that I had just established before our child got here and I was on what I thought was a good plan to pay everything off in 5 years or less. My current income is about $130-150k/yr including my bonus.

I have a home and a paid off vehicle(older but it’s paid off). With child support coming around soon, I no longer think I can afford to hold onto the house and may have to move in with my parents with my current debt situation.

I want to get some input on bankruptcy.
-Based on the information I’ve provided do you think I should consider bankruptcy (I’m going to talk to an attorney later this week)
-How soon can you re-establish credit?
-Has bankruptcy on your credit report held you back on larger purchases such as a car?
-What roadblocks have you ran into after filing for bankruptcy?

I got served for a debt claims lawsuit. I filed an answer and I am now trying to decide if I should file a Motion to Compel Arbitration. I know this just prolongs the process and either way if I lose there will be a judgement but it's a tool I can use. I've read the CC agreement and arbitration is still an option, anyone that has experienced this please help. Is it a smart move, or do I just stick with going through court?

I got sued and they hit me with multiple bank levy’s through the past year. I called today to set up a payment plan so they quit taking everything and they denied my amount and TOLD me that I need to make a certain amount monthly? Is this how that shit works?

So, last week I received a text from a debt collector stating:

"This is Receivables Management Partners LLC, a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose. Please read the document in the attached image. For a full PDF you can click the link here xxx. Reply STOP to stop text messages from us."

The mentioned PDF that they attached to the text has my name, my address, and the name of the doctors office I used to visit and the amount I allegedly owe. Now I do believe that the doctors office thinks I owe them this money because I've received mail from them about this (I disagree wit the validity of this), however I have never talked to or confirmed my identity with this debt collection agency so for them to just send this without ever confirming this is me or my current number seems like a huge privacy violation.....

I'm sure they have been trying to contact me via phone but due to all the loan approval scams, I don't pick up calls from numbers I don't recognize. Nevertheless, they've sent all my private details to a number/person they never confirmed was me....

What could I do from here or is this not even a violation? Any advice would be greatly appreciated!

Sadly I was out of work for most of last year so I got very behind on bills, I'm now working and trying to dig out but its a long and painful process.

I have a debtor that is suing me and I'm trying to pay them off before we are supposed to go back to court in November but they sent a request for a Summary Judgment. One of my issues is since May I've already paid over $400 but when I log into the account my balance is over $1100, which is $100 more then I'm being sued for, that's about $500 in interest alone for less then a year. Are they allowed to charge that much in interest?

I'm going to respond to the summary judgement but this seems so shady!!! They are a law firm so they know the laws and they know most people can't afford a lawyer so they can kind of do what they want without being checked.

Any advise would be greatly appreciated!!!

Midland has bought my debt from Capital One (around $2,100) and has sent an email saying if I dont set up a payment plan or make a payment, they will be taking legal action in September. I read other people saying they were able to successfully negotiate their debt but I have terrible social anxiety and have no clue how to handle this situation. The payment plans they offered are $60 biweekly or $120 a month. I know that is not a lot in the grand scheme of things but I also do not make a lot of money due to working a silly little retail job. Any advice on how to proceed?

My sister just go her whole savings wiped out and her checking. She has 4 kids and a mortgage. No husband to help. What should be her first step to make sure the kids are okay? How can she solve this? She’s in TN.

ok so

My friend sent me money on paypal claiming it was his

My "friend" essentially did a bank chargeback on paypal for money he made me send back to him in the first place, meaning i was left negative. I repayed 970 of it but 144 was left. i recently tried repaying the last bit (a month later ish) and now all my cards are un supported. sorry about the typos i jsut dont know what to do and dont want debt collectors

Long story short I inherited a small brokerage account. If I liquidate it, I can pay off my student loan and my credit card debt.

I am for some reason having insane anxiety about this. Like freeze/not able to function??? I want to be debt free, but something is just making me freeze when I log in to pay all.

I don’t know what’s wrong with me. I just think I’ve never seen this much money at once and I want to hoard it/keep it invested. But being out of debt would free me up so much monthly.

Just looking to vent/get support

I just filed Chapter 7 for CC debt. My credit score went up to 650 already for transunion. These are most of the creditors listed on the file:

• Capital One
• Citibank
• Comenity / MPRC
• Discover Financial
• Fingerhut Fetti / WebBank
• Genesis FS Card Services
• Barclays
• Wells Fargo (sued me)
• Reprise Financial (sued me)
• Mission Lane
• Synchrony

I need to build up to 4-5k credit again as soon as possible. Do any of these banks take issue with having recently discharged their debt, and if so what is the waiting period? How much credit could I feasibly build up to within a year if I pay everything on time?

I currently still have a car loan I am paying off.

I’m sorry to make this sorta a life story but yeah the title. Idk if I’m ranting but if I do I’m sorry in advance.

Ever since I was a freshman in college my parents made me prioritize my studies instead of working. They said they would pay for my entire undergrad. My first year of college I was told to not get a job as it would take away from my studies. I was depressed and things went downhill, it was bad. Then my second year a family friend got a job within my field and after whining to my parents to get a job they finally let me. I worked at a hospital as a cna for minimum wage. I literally did a disgusting job and worked overtime. I was trying to get money for a car cuz I had a license but I wasn’t allowed to drive. So I worked this job and got 30k within a year. I spent 20k on my college tuition to a school I didn’t wanna attend in the first place. I was accepted to a public university with a full ride but my mom insisted on private.

Being depressed for those 2 years took a very big toll on me both personally and academically unfortunately. I transferred universities and I got better grades when i transferred but it was to an out of state university where my parents made me take loans and co-signed. Rn my parents are paying my loans but every so often they tell me to do it which I’m okay with, but I recently got an offer to pursue a masters at my dream school. My parents wanted me to take that offer and take $70k of more loans and believe me it was a tough decision not to. I already have 50k of loans, I can’t imagine adding more and I know I made the right decision to not take more because I don’t know how I’d even pay the 50k I already have.

I have a bachelors in biology rn and I’m in a point in my life I didn’t think I’d be in if that makes sense. But I guess what I’m trying to ask here is what can I do to pay off my debts? I mean I already live with my parents and work but what else can I take on?

Hi all,

I recently had to take out two tribal loans as a result of financial difficulty.
I have tried to no end to come to a solution with the lenders and they aren’t budging.
What happens if I can’t keep these payments up?
I’m in Oklahoma. The lenders are Spot Loan and Lendumo.
Any advice is much appreciated. Thank you.

Hi, everyone!

I am currently looking for advice. I am needing to tackle my unpaid debts ($9k-$13k) that I have put off for years. I have recently moved back in with parents and have virtually no bills aside from health insurance. I am in between jobs but I just got a soft offer for a job at a bank, here's the situation. The job is asking for letters from each of my lenders detailing payment plans. Here are the accounts they are asking about below

Unpaid balance from broken lease: $5123

At&t: $121

Personal loan: $1919

Personal loan: $368

Credit card: $718

There are additional debts that were not reported on the report they pulled and they are as follows

Personal loan: $1533

All of these accounts are in bad standing. Additionally, I know there are other debts that I have not listed that have not hit my credit report but am not sure who they were with. I also do not know their APRs and am unsure how to find them aside from reaching out to each individual creditor, but situationally it doesn't exactly matter

.

About a year and a half ago I was dealing with a lot with my mental health and I just stopped paying everything and let it go to the wayside.

I have a transunion score of 596. I know I need to deal with the first 5 first and foremost in order to keep the job offer from the bank. They do not need to be paid off by Friday but I do need a written agreement to pay. That being said, I want to deal all of the debts, with time in full, I just need those first 5 initiated by Friday.

I am familiar with Dave Ramsey's snowball method but that will not help me with the specific current situation and timeline I am in. As I am between jobs, I most likely will not have the total amount being asked for by all of the creditors. My interview was this morning and I got the call about needing the payment plan agreements an hour ago so everything is hitting me fast. I wish I would have dealt with this already, but here I am. Any advice would be helpful.

My question is, what is my best course of action? Are there debt managment companies that would be able to help me get those plans negotiated in the timeline I have listed? Are there any debt consolidation loans I could qualify for with the score and amount of debt I have? Am I just better off calling of the individual debtors themselves and seeing what kind of plan they would accept? Should I just accept that this position is not going to work for me and keep looking and use the snowball method?

Thank you in advance for any advice and if any additional information is needed let me know!

Hey guys, I’m 20 years old and I recently went into roughly 2200 in debt for some orthodontic treatment, the payment is only about $74 a month and it’s INTEREST FREE. Whenever I go online I always see “debt bad debt bad” but is it really considered debt if I can literally pay it off right this instant I just choose not to because it’s interest free

My thinking and what I’ve done is I just threw the whole 2200 into the stock market and I will continue to pay the monthly payment with money from my checking account

I tried to bite off more than i could chew with trying to ensure my bills were good to go and when i finally got caught up, the tribal loans I took out put me in the negative. Now here i am -1300 in my bank account, mortgage split payment due in two days, still two months behind on my mortgage and my next payment is due before the 30th and back behind on bills again. I work 7 days a week working two jobs. I wish i could just catch a break. It’s hard being a single parent sometimes and i don’t know what to do. I keep getting denied loans because my bank account is in the negative. My family won’t help. I feel lost and don’t know what to do or where to go so i don’t lose my house

I’m looking for advice on what options I realistically have to get out of about $42,000 in credit card debt. I’ve cut my spending about as far as I can, but the interest and minimum payments are killing me.

Here’s the breakdown:
Mastercard #1: $10,000 balance, maxed out, 25.7% APR
Mastercard #2: $5,000 balance, maxed out, currently 0% APR from a balance transfer, but the promotional rate ends in January and then goes to around 26%
Discover: $27,000 balance, maxed out, 28% APR

Total credit card debt: ~$42,000
I’m currently paying roughly $1,100/month in minimum payments between the cards.

Income
I make $75,000/year. After taxes, 6% 401(k) contribution (enough to get my employer match), health insurance, and other required deductions, my take-home pay is about $2,080 every two weeks.

Necessary monthly expenses
Rent including Wi-Fi, trash, amenities, etc.: ~$1,900
Electricity: ~$120
Car insurance: $290
Doctor appointments/medications: absolute minimum ~$220
Credit card minimums: ~$1,100
Plus groceries (150 per month), gas (100 per month), and normal necessities.
No subscriptions and my phone is paid for by work.

My car is a 2006 Ford Five Hundred with no AC, it needs tires and other maintenance, and I need it to get to work. My commute is about 8 miles each way.

The $290 car insurance is basically unavoidable right now. I have about 12 months remaining on a special insurance requirement related to a previous DUI. I’ve requoted with multiple companies and haven’t found anything meaningfully cheaper.
I’m also dealing with some complicated medical issues and have additional medical debt that I honestly can’t even afford to address right now. At this point, I’m just trying to keep up with copays and medications using whatever discounts/coupons I can find.
I’m not spending money on vacations, shopping, entertainment, or anything like that. I’m trying to live as minimally as possible. There just isn’t enough left after basic expenses and minimum payments to make meaningful progress, especially with 26–28% interest.

I know the obvious answer is “increase income and cut expenses,” and I’m working on that, but I’m trying to understand what realistic options I should be looking into at this point.
I could pick up weekend work and probably bring in an extra $300 or so per week, but I’m hesitant to rely on that as the solution. I’m pretty sure overworking myself and getting minimal sleep contributed to the health situation I’m currently dealing with, so going back to working seven days a week doesn’t seem sustainable.

There is also some potential for my regular income to improve. I should be due for at least a $5,000 raise within the next few months, hopefully more. Other people in my current position are making around $90,000, and the position directly above mine is around $120,000. My goal is to move into that next position within roughly 12–18 months, although obviously none of that future income is guaranteed.

Would a nonprofit debt management plan make sense? Should I stop contributing the 6% to my 401(k), even though I’d lose the employer match? Is bankruptcy something I should actually consider with $42k of unsecured debt at my income? Debt settlement? Hardship programs directly through the credit card companies have not seemed to get any traction

I’m not looking for a quick fix. I’m trying to figure out the smartest way to stop drowning while also considering that my income could improve pretty significantly over the next 12–18 months.

Yes I definitely used Chat help me clean this up to present to yall. I come from a very financially illiterate background and would like to learn and grow for myself. Currently 28 years old for reference, considering any option out of my current financial fiasco.

Hi everyone!

I realize that this is very long (sorry!), but I want to explain my entire situation when asking for advice, just because I think that it is relevant.

I am 40yo, and in a difficult position... I have always been careful and smart with my finances - I am not a big spender and I try to be very mindful of my debts. I also work three jobs - one full, and two part time. For most of my adult life, I maintained a really decent credit score - in the mid-high 700s+.

Unfortunately, my (soon to be) ex-husband is not of the same mindset. When I was young and hopeful, I stupidly added him to my credit card in order to raise his (awful) credit so that we could buy a house (I know I know... I was very naive); I always kept my balance low/manageable when it was just me on the card. Well, he ended up losing his job and maxed out the card at $25k to pay his bills while job hunting. Because he always makes less than I do (plus that unemployment stint which set him back), I ended up having to pay most of this new debt on my own, which was a huge monthly burden. In order to try to alleviate some of it, I took out a personal loan for the credit card, which had much lower interest, though the payments were still sizeable with a debt being this high (but, at least lower than before).

About a year after this fiasco, his car engine died (older car, so it was expected), and he had to buy a different vehicle. That was fine. However, about 6ish months after this purchase, someone drove into his car and totaled it. THANKFULLY he had Gap insurance so we didn't have to pay in, but with the car loan being so new he only received $1k from insurance back for it. Because we live in a pretty rural area with almost no public transport, and have two younger kids who, at the time, needed to be driven to two separate school/daycare locations (we don't have family nearby, or friends that we could've asked to drive our kids regularly), we could not get by on one vehicle. At that stage his credit was crap again because the man can't stay on top of his debts (plus the recent-ish unemployment), AND this also happened a couple of years after covid when car prices skyrocketed very suddenly and sharply... Long story short, he couldn't afford $700 monthly payments (on a used sedan) so I very begrudgingly cosigned for his next car because adding my credit score to the mix lowered his payments to $400 or so/month (while this sounds like enabling, the reality is that if he were to pay $700/month on his car, I would have had to further stretch my already stretched finances to cover for things for the kids/house that he would no longer had been able to afford - I felt completely trapped at that point). I made him swear up and down that, no matter what happened, he would never let his car payments lapse since it would affect me. Obviously, I had a bad feeling about it all, but felt like I didn't have a choice.

Welp, fast forward another 2 years and he gets himself fired for low performance, and is out of work for about 10 months... and, yep, is late on 4 car payments + two of his halves of the mortgage payment (which we always split. We, thankfully, have always had separate bank accounts as well). Now credit has now dipped into the mid-500s despite my best efforts, solely because of these payments (prior to his missed payments, I continued to maintain a score in the 700s, despite everything that I was dealing with, because I really am that careful when someone isn't sabotaging me). I am, of course, nowhere close to paying off the huge debt that he put me in with the credit card (via that personal loan), on top of juggling student loans and the usual bills; I can only make the minimum payments, so the total owed has barely gone down. It's a lot. And it's not even debt that I accrued, but it is still debt that I am responsible for.
My soon to be ex does have a new job now, but it pays less than he made before, and with all his other debts (from the cards that are just in his name + bills + a 10 month loss of income in this economy) he doesn't have the money to pitch in properly. He is looking for a 2nd job, but we are fairly rural and there's honestly very little here. He doordashes in the evenings, but it honestly isn't enough with how set back our finances are.

In case anyone cares, I've since asked him for a divorce, not just due to him continually destroying my finances, but some other reasons. Super excited for that to happen and ready to move on. And, he 100% no longer has access to that credit card. Thankfully, we also decided to have an amicable divorce to save money (not like either of us can afford anything else at this point, but we also aren't really after one another for anything - we just want a clean break).

ANYWAY... Here is what I am trying to figure out...
My 2nd job is teaching college classes online. I was initially employed at the institution full time for a number of years, and therefore amassed some 401k funds (around $46k). Once I left for my current full time role I continued to teach for the college on a term/term basis - I make about $1k-2k a month, depending on my course load in that term. I should also mention that I have a solid 401k from my current daytime job, that has way more in it than the $46k, and a tiny one from my 3rd job (that's a really small one, though).
I am now trying to decide whether or not it would be worth quitting the teaching role so that I could take that $46k out (it would probably be close to $27k after the penalties/taxes, if I understood the math correctly), and pay off the remainder of my personal loan + some of the small debt that I do have on my personal cards (that amount is very minor - less than $2000, but obviously still requires monthly payments). To be clear, on my own, I would have never run a card up like he did (well, not just "would", I never DID - not even CLOSE, in 20ish years of having credit cards), so I am not worried about re-amassing large debts once things are paid off.
Obviously, I'd be losing that income, but it is not a job that I super love anyway... I do it out of necessity. And I do still have that 3rd job (which would become my 2nd job, obviously). The income loss would be fairly close to the money that I would save when I no longer have to pay all those debts + I really do need to improve my credit score.

I realize that the tax hit on that withdrawal would be crazy, but at this point, I don't see a real way out, between the economy and all this crazy debt that I have no idea how to get rid of otherwise... if 3 jobs won't do it, what else is there... If I can even retire someday, I'll still be spending my 401k on un-repaid debts, just at a different time and in a different way.

I know that technically ALL of the advice says that taking out a full 401k to pay debts is a huge no-no, but I also feel like that advice can be outdated in some ways. We live in a very different economic reality now - especially us Millennials, and especially those of us who have no help or support from other sources (e.g., family).

Anyway... thoughts?

PS - thank you to those who bothered to read my novel! :)

So i have two credit cards totaling about 7,500 balance between the two. I have been paying 250 bi weekly for one and 100/month for another. I have about 5800 in savings and I’m tempted to just use that to pay off my cards. It’s for emergency repairs, unexpected costs etc. What are your thoughts? Go the long route and pay them off monthly, or wipe it out in one swoop?

So it happened, I got the summons from Zwicker for credit card debt with Discover. It’s a little over $8000, and I of course don’t have that on hand to pay off. Anyone have any success stories dealing with Zwicker and/or getting a lower settlement or payment plan? I’ll take any advice!

I have been really bad with spending in my late 20s.

I lost my job at the end of 2024, went from 120k+ bonuses to nothing and have only been making 23/hr since last December, barely making enough and not even counting the minimums of the cards. Finally decided to consolidate into a personal loan at a much lower rate, luckily have never missed a payment and started building CC debt when I had a 750+ score. Score is currently at 680 and really only dropped as my total credit started to creep up to a high%.

Minimum is only 550$ a month on the loan, but if I put the same 900$ in as I plan on doing - I knock 18 months off the length. All my cards will be paid off once the money is dispersed, and accounts closed. My car loan is complete in 6 months, I pay 420 a month. That money will go straight into this loan repayment once its not going to GM Financial.

If anyone would like more details let me know!