Sadly, have to let my credit cards go to collections.

[Anonymous]

I'm 24 YEARS old, and have to neglect my credit card payments to get ahead in life. I live in Grand rapids, MI, no jobs here and I have been stuck here since after high school. I had a decent job it failed, and it took me 6 months just tp pick up two crappy jobs, but I AM not complaining they are better than nothing. On top of that I AM living with a huge dysfunctional family that just hold me back in life. I'm just tired of it. I've been trying to maintain credit and etc and I'm not getting ahead in life. Not able to save any money. I have 4 cards ages range from 9mos to 2 years never missed a payment until August, the limits are small $300, $300, $400 and $700 but they are all over the limits my debt all together is $2100. I might be able to pay the capital one OR credit one (one of them I might can pay off) but the rest of the cards I can't pay. I haven't made any payments since August so I AM going on 3 months past due. The balances has accumulated and the late fees are stacking up. And it's overwhelming. I also have car payments but it isnt reporting to my credit, it was a in house finance situation under my moms name and I owe $2600 left, I'm making double payments and should be paid off by January 2017. Then I have a great job opportunity in NYC, the job starts Feb 2017. I will also start college in NYC too. This has been a dream of mines and if I don't take the opportunity I will never make it out. The job is a writing/advertising job for a blog company it's a temporary job for 6 months... Its really good money. I will rent a cheap room in Brooklyn which will all work out.

Anyhow, at this point it's either save for my future, or try to maintain credit and stay stuck here. I get my tax refund in Jan and that will go towards my debt and after getting stabled in my new job I will be worrying about my credit again.

Any advice? I feel bad. I'm 24 just starting LIFE for real.

[Anonymous]

$2100 in debt may feel like a lot, but it's really not.  When your income isn't great I can understand it seeming like a large sum.  You've got a job opportunity lined up and I would think could get rid of that debt pretty quickly once you get going with it in Feb.  I wouldn't give up; you only have 4 cards so you only have 4 minimum payments to make to keep from getting late payments reported.  That's probably $100-$150 a month in minimum payments, right?  Not the end of the world.  You can also call up all of them and see if they are willing to work with you... lower the minimum payments, give you a little extra time to get your feet on the ground etc.  Some may say yes, others no, but until you ask you won't know.  Remember late payments stay on your credit report for 7 years which is a LONG time.  If you can keep up with the minimums I would if I were you.  You don't owe so much that the interest is that overwhelming IMO.  Just my advice.  Others may have a different perspective.

[MugenCivicSi83]

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@Anonymous wrote:
I'm 24 YEARS old, and have to neglect my credit card payments to get ahead in life. I live in Grand rapids, MI, no jobs here and I have been stuck here since after high school. I had a decent job it failed, and it took me 6 months just tp pick up two crappy jobs, but I AM not complaining they are better than nothing. On top of that I AM living with a huge dysfunctional family that just hold me back in life. I'm just tired of it. I've been trying to maintain credit and etc and I'm not getting ahead in life. Not able to save any money. I have 4 cards ages range from 9mos to 2 years never missed a payment until August, the limits are small $300, $300, $400 and $700 but they are all over the limits my debt all together is $2100. I might be able to pay the capital one OR credit one (one of them I might can pay off) but the rest of the cards I can't pay. I haven't made any payments since August so I AM going on 3 months past due. The balances has accumulated and the late fees are stacking up. And it's overwhelming. I also have car payments but it isnt reporting to my credit, it was a in house finance situation under my moms name and I owe $2600 left, I'm making double payments and should be paid off by January 2017. Then I have a great job opportunity in NYC, the job starts Feb 2017. I will also start college in NYC too. This has been a dream of mines and if I don't take the opportunity I will never make it out. The job is a writing/advertising job for a blog company it's a temporary job for 6 months... Its really good money. I will rent a cheap room in Brooklyn which will all work out.

Anyhow, at this point it's either save for my future, or try to maintain credit and stay stuck here. I get my tax refund in Jan and that will go towards my debt and after getting stabled in my new job I will be worrying about my credit again.

Any advice? I feel bad. I'm 24 just starting LIFE for real.

---

My Advice is that you IMMEDIATELY STOP making double payments on the car payment as it's not reporting to your credit! Put that money towards those CC's or you are pretty much screwed. Why would you want to ruin your credit by paying double on a car loan that isn't affecting your credit?!

[Anonymous]

Because if I dont make the payments and neglect the payments they will garnish and it will affect me in the Long run. I AM already dealing with hell with them when Im 2 weeks late. It was a big mistake.. but at the time I was desperate. I just want to get this car paid off so that I can be free from it and sell it for what its worth cause I wont need it nor can i afford having a car in NYC.

[cuthatcard]

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@MugenCivicSi83 wrote:

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@Anonymous wrote:
I'm 24 YEARS old, and have to neglect my credit card payments to get ahead in life. I live in Grand rapids, MI, no jobs here and I have been stuck here since after high school. I had a decent job it failed, and it took me 6 months just tp pick up two crappy jobs, but I AM not complaining they are better than nothing. On top of that I AM living with a huge dysfunctional family that just hold me back in life. I'm just tired of it. I've been trying to maintain credit and etc and I'm not getting ahead in life. Not able to save any money. I have 4 cards ages range from 9mos to 2 years never missed a payment until August, the limits are small $300, $300, $400 and $700 but they are all over the limits my debt all together is $2100. I might be able to pay the capital one OR credit one (one of them I might can pay off) but the rest of the cards I can't pay. I haven't made any payments since August so I AM going on 3 months past due. The balances has accumulated and the late fees are stacking up. And it's overwhelming. I also have car payments but it isnt reporting to my credit, it was a in house finance situation under my moms name and I owe $2600 left, I'm making double payments and should be paid off by January 2017. Then I have a great job opportunity in NYC, the job starts Feb 2017. I will also start college in NYC too. This has been a dream of mines and if I don't take the opportunity I will never make it out. The job is a writing/advertising job for a blog company it's a temporary job for 6 months... Its really good money. I will rent a cheap room in Brooklyn which will all work out.

Anyhow, at this point it's either save for my future, or try to maintain credit and stay stuck here. I get my tax refund in Jan and that will go towards my debt and after getting stabled in my new job I will be worrying about my credit again.

Any advice? I feel bad. I'm 24 just starting LIFE for real.

---

My Advice is that you IMMEDIATELY STOP making double payments on the car payment as it's not reporting to your credit! Put that money towards those CC's or you are pretty much screwed. Why would you want to ruin your credit by paying double on a car loan that isn't affecting your credit?!

---

+1

Do this ^^^, now ! 

You say you are getting a really great job and some jobs will do a credit check on you ! You DO NOT . ...want these haunting you as you seek employment ,  believe me ! 

I was an Administrator of a large facility and had to turn away ( what I knew ) was good people  due to their credit profiles ! It will follow you, my friend !  

Pay what you can, work out a plan and pay these off or down as you work towards your goals ! 

Good luck !

[MugenCivicSi83]

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@cuthatcard wrote:

---

@MugenCivicSi83 wrote:

---

@Anonymous wrote:
I'm 24 YEARS old, and have to neglect my credit card payments to get ahead in life. I live in Grand rapids, MI, no jobs here and I have been stuck here since after high school. I had a decent job it failed, and it took me 6 months just tp pick up two crappy jobs, but I AM not complaining they are better than nothing. On top of that I AM living with a huge dysfunctional family that just hold me back in life. I'm just tired of it. I've been trying to maintain credit and etc and I'm not getting ahead in life. Not able to save any money. I have 4 cards ages range from 9mos to 2 years never missed a payment until August, the limits are small $300, $300, $400 and $700 but they are all over the limits my debt all together is $2100. I might be able to pay the capital one OR credit one (one of them I might can pay off) but the rest of the cards I can't pay. I haven't made any payments since August so I AM going on 3 months past due. The balances has accumulated and the late fees are stacking up. And it's overwhelming. I also have car payments but it isnt reporting to my credit, it was a in house finance situation under my moms name and I owe $2600 left, I'm making double payments and should be paid off by January 2017. Then I have a great job opportunity in NYC, the job starts Feb 2017. I will also start college in NYC too. This has been a dream of mines and if I don't take the opportunity I will never make it out. The job is a writing/advertising job for a blog company it's a temporary job for 6 months... Its really good money. I will rent a cheap room in Brooklyn which will all work out.

Anyhow, at this point it's either save for my future, or try to maintain credit and stay stuck here. I get my tax refund in Jan and that will go towards my debt and after getting stabled in my new job I will be worrying about my credit again.

Any advice? I feel bad. I'm 24 just starting LIFE for real.

---

My Advice is that you IMMEDIATELY STOP making double payments on the car payment as it's not reporting to your credit! Put that money towards those CC's or you are pretty much screwed. Why would you want to ruin your credit by paying double on a car loan that isn't affecting your credit?!

---

+1

Do this ^^^, now ! 

You say you are getting a really great job and some jobs will do a credit check on you ! You DO NOT . ...want these haunting you as you seek employment ,  believe me ! 

I was an Administrator of a large facility and had to turn away ( what I knew ) was good people  due to their credit profiles ! It will follow you, my friend !  

Pay what you can, work out a plan and pay these off or down as you work towards your goals ! 

Good luck !

---

+1 !!!!!!!

[Anonymous]

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@Anonymous wrote:
Because if I dont make the payments and neglect the payments they will garnish and it will affect me in the Long run. I AM already dealing with hell with them when Im 2 weeks late. It was a big mistake.. but at the time I was desperate. I just want to get this car paid off so that I can be free from it and sell it for what its worth cause I wont need it nor can i afford having a car in NYC.

---

They are not saying don't make the car payments AT ALL. They are saying just pay the regular payment and use the excess you are paying on it to catch up the CC payments.

Are you behind on the car and thats why you are making double payments? You say you owe $2700, and it will be paid off in Jan/17 - thats only three more payments... Are the payments $450 a month, and you are paying $900? Please clarify.

They cannot just garnish you - you have to be behind on it, until you default, then they must file suit in court and get a judgement before any garnishment can take place, which incidentally, is something the credit card companies can do as well.

What is the value of the car? You CAN sell it before its fully paid off, as long as you use the proceeds of the sale to pay the balance off. I think letting the cards go just to pay the car off first to "get out from under it" is essentially shooting yourself in the foot.

[Anonymous]

Agreed with the people above that said stop making double car payments.  I must have missed that in your original post.  Installment loans are designed to just pay the minimum (monthly) payment each month - those are the terms of the loan as as long as you do that you're seen as meeting the loan terms and it will be viewed favorably on your report.  What won't be viewed favorably are late payments on your CC's which need to stop immediately.  I'd venture to guess that the excess amount from double paying your car payments would more than cover the minimum payments on your CC's which will do great things for your credit compared to not paying your CC minimums and letting them go into collections.