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Need Advice - Rebuilding Credit

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Re: Need Advice - Rebuilding Credit


@BB30 wrote:

I haven't read all of the replies yet, and I'm not an expert, but I don't think bankruptcy is a good idea. You're just in a bit of debt, nothing crazy. If you can keep paying everything for now then maybe just ride it out until you graduate. 


Looks like you work full time but only make $8.50/hr? If feasible, find a better paying job. Lots of basic jobs pay at least $12....depends on the area and your availability though but it's an idea. 

I work in the school system. I make $21.79/hr - 7.5 hrs/day - 180 days/year. I would look at switching jobs, but I have to have practicum hours to sit for my boards and currently I can count all of my working hours toward that, so it's difficult to leave. I think I might try the avalanche method and focus on just getting some of the interest down at least for the time being.

Message 11 of 12
Senior Contributor

Re: Need Advice - Rebuilding Credit

At this stage your last priority is FICO score! Once you payoff the all debt, naturally you going to see improvement on the FICO scores!


Focusing on your degrees should be your number one priority. Congrats on upcoming degrees!


Cutting the expenses is your main issue! car payment ($392) Way too much... plus gas and parking etc. You barely have time to do anything beside school, see if you can use public transportation or get a much cheaper car. Remember, your doing all of this to finish your degrees. Your rent should not be cheaper then car payment!


Make at least the minimum payments for couple of years till you can get a real job. Meantime avoid going to Starbucks and fine dining! Stay in campus or near your school as much as you can.


Bottom line you don't have enough income to payoff your debts at this time and you should focus only on school till you graduate! Good luck


Message 12 of 12
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