Credit Card Center Advertiser Disclosure

New Visitor
Posts: 1
Registered: ‎12-22-2012
0 Kudos

Need help with a plan to get out of about 2000 in debt.

So, when I was 17 I got a job making 18/hr and started putting 20 percent into a savings account. By the time I started at a college I had about 15000 total in savings from work and other money I've saved. I got a credit card art 18 with a 2000 limit and used it only for gas and school books, and then paying it down when I had alone extra money from the part of my pay check I didn't put into savings. The 15000 went down to about 6000 after 3 semesters of college. My old car died after I turned 19 so I decided to start financing a car. I'm paying 250 a month for 4 years through a CU loan. I live at home with no real living expenses besides gas. I pretty much had all my ducks in a row, and I've always been really happy that I haven't taken out any student loans so far.

That was all until I lost my job.
When I did my credit card balance was 700 dollars and it was in the summer so I figured I could find a job while I wasn't taking classes and would bounce back. (I am now 20 BTW) the only job I could even find was part time at a mall store. I now make min wage at about 120 a week. (If I'm lucky) also, just before losing my job I loaned my sister 3000 dollars. I regret it now but she's my sister. I decided while I was working part time I would take a pharmacy tech course and become a tech so that I could get better pay. I took the money for the class and the test out of my savings, about 1000 dollars.
Then, my dad asked me to start paying insurance. And then with car payments, gas, and ask of those other little speed bumps like flat tires and parking tickets and laptops breaking miss semester, I found myself maxed out on my credit card and a month behind my car payment.

My test to become a tech is tomorrow and I'm sure I will pass. After that I can start making upwards of 17 an hour.
My boyfriend (of 4 years, very reliable, not going anywhere) just got his teaching licence so once he finds a position, (where we live geographically he'll be making somewhere above 60000 a year) he agreed to help me since he was in a similar spot after graduating college and I helped him.
Selling my car is out of the question. I need it for work and school and I also really love it.
I needed to replace my laptop due to my major.
Got rid of my cell phone as well as any Netflix type monthly bills.
Savings Balance 20 dollars.


I wrote here to try and seek help on how to sort my situation out. I thought I was in such a good position but after all of this I feel like maybe I was doing it wrong the whole time, so for that I would also appreciate advice on what my strategy will be after getting back on my feet. Start rebuilding my credit? Pay off more towards my car? Refinance it? I would really like to move in with aforementioned boyfriend somewhere in my near future but we decided to hold of in the past even though he is 24 and its kind of sad to say he lives in his parents basement. (Haha, people in debt can still laugh, right?!?)

So yeah, basically I just need advice on my situation! Thanks in advance!
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0 Kudos

Re: Need help with a plan to get out of about 2000 in debt.

I think your question needs to be asked in a different section for more of a response from others. 


Just ask a moderator if they can place in a more appropriate area.

Good Luck
May all your dreams and wishes become a reality!
Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
0 Kudos

Re: Need help with a plan to get out of about 2000 in debt.

i congrtulate you on making it thus far without a studen loan, but in order to move forward you may need help,.  Go a head and feel out your FASFA and borrow what you need until you get on your feet.  It may be only a temporary solution before you get any further behind on your car an credit cards.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Valued Contributor
Posts: 1,569
Registered: ‎11-10-2012
0 Kudos

Re: Need help with a plan to get out of about 2000 in debt.

+1 on the student loans. You can easily get enough to pay off your relatively low debt. You do not have to start paying back any of the student loans until six months after you graduate, but you can pay on them whenever you want. It is definitely very responsible of you to put 20% away in savings. I think that you can easily cut that down to 15% and take the other 5% and put it towards the repayment of your student loans, or, leave it at 20% and put 5% or so towards the loan repayment. Then, start building positive credit with a cc, secured or unsecured -- it doesn't matter; whichever you can get approved for. But know what your scores are at before you apply for anything so that you do not waste a HP on something that you will probably be denied for.

My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Established Member
Posts: 20
Registered: ‎12-28-2012
0 Kudos

Re: Need help with a plan to get out of about 2000 in debt.

Can you find an additional job? I would try that to bring in some additional income to help pay your bills. Other than that I would create a budget and stick to that of course. pay the minimum on your bills but throw any extra money you have first at an emergency savings account to cover things like flat tires etc. and then start attacking your cc debt. I would also try asking your sister for repayment. She should understand your situation and maybe she can start making payments to you. I wouldn't depend on anyone but yourself though and I am speaking from experience.

Starting Score: 747
Current Score: 797
Goal Score: 850

Take the myFICO Fitness Challenge

Established Contributor
Posts: 761
Registered: ‎10-16-2007
0 Kudos

Re: Need help with a plan to get out of about 2000 in debt.

Join the Reserves !!!! Im serious

NFCU Cash Rewards Siggy $22k, NFCU Flagship Rewards Siggy $22K, NFCU Platinum MC $20K, USAA Amex Rewards $6k, USAA World Mastercard Rewards $6k, NFCU Navcheck $15k

Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,



Chase Star Card

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.