Posts: 8
Registered: ‎08-29-2009
Re: College Student Overwhelmed By Road To Improving Credit

That's true Shogun, the auto loan is probably what I should focus on first, as it is also the loan that would have a more immediate impact should anything go wrong vs the student loans which are deferred.


It's been a while, so I don't know exact numbers, but I settled 4 CCs - most were around $500-800 and were settled for about half those amounts.  The Citi card was at around $3k, settled for around $1,200.  I still owe $10k on my car, no penalty for early payment, not exactly sure how many payments I have left.


One of the biggest reasons I'd like to begin this process is because I've been ignoring just how much debt I've taken on and it wasn't until I needed to finance a car back in January that I felt the immediate impact of having bad credit.  On one hand discovering how much debt I have has been a bit of a downer, but at the same time I also have a sense of relief now that I feel like I'm beginning to gain control of my finances, even if the first step is simply knowing how much I owe.