This happens all the time to college students, credit card companies prey on people just like yourself. I don't recommend debt consolidation. It can back fire and make things worse for you.
Don't ruin your credit score by ignoring the problem. Whatever you do don't be late on any of your payments. Maybe you can pick up a part time job to pay it off. I do credit repair for a living, and you do have other options. If you respond maybe I can help you with this issue. I need more information. Best of luck
You have to do the one thing no college junior usually wants to do == WORK! I put myself thru college by working my tail off. I had student loans to help but worked more hours than I was in classes. I had no social life, no cell phone, my roommate had cable because his dad paid for it, I used the phone @ work or a payphone to make my calls, cooked for myself & rode a bicycle. If you want this gone, get a second job or take a break from school & work a couple of jobs to pay the debt off. When you have some money saved up, go back. A great place to work to build up a lot of savings over the summer is Cedar Point in Sandusky OH. The amusement park hires most anyone with a pulse & they will work you to death but they do give a bonus per hour you work that builds up over the contracted time you work for them. This way, you can save up some money out of your paychecks & have a large bonus after you complete your contract. The two years I worked there, my bonus, after taxes, was more than your credit card debt listed here. Just one thing, since this is contract work, there is no such thing as overtime so they will work you as many hours as they can get out of you. If you are serious about getting your bills caught up apply for a summer job @ www.cedarpoint.com
One good thing about the place, your rent is controlled, it ranged from 15-45$ a week depending on the kind of room you had & they will do the laundry for you, when it comes to the uniforms they give you!
If it's not to late I would try to work with the credit card companies on a payment plan, if the accounts are closed and in collection, you can usually only pay only .50 cents on the dollar, basically collection agencies will take half of the money you owe, but you have to be aggresive with them and don't let them intimiate you. If your accounts are in collection the damage has been done to your credit but you can always recover and improve your credit, it will take time though, this is a good article on repairing your credit, http://www.monitorbankrates.com/how-to-build-maintain-and-repair-your-credit
Welcome to college my friend, the land of too much to do, way too much to pay, and not enough cash to jingle. Last time I looked inside my wallet, George Washington didn't look so happy, and my credit card didn't look too great either.
From personal experience I can say this, work work work. Yeah, you need to cut expenses at times. You can do this by cancelling your cell phone, or at least some of it's services. No more Starbucks, ride your bike to nearby destinations, and if worse comes to worse, get a student loan or work full time and take a leave of absence from school until you are done paying.
You don't really want to declare bankruptcy becasue you don't want to burn your credit. Get a loan, pay for your expenses, and work, save money, and do well in school.
Thanks to President Bush, you can no longer wipe out credit card dept if you file for bankruptcy... so you are STUCK with those credit card debts. AND... if you just make the minimum payment every month, it will take you about 45 YEARS to pay off the cards and you will pay 10 TIMES as much as you borrowed.
Welcome to adulthood
what you could do is try debt settlement or debt consolidation which will help eliminate your debt in a faster way, check out www.creditfinancialservice.com they will give you a free analysis.
http://www.creditfinancialservice.com/
Try this source http://ezconsolidation.com .They offer college student credit card consolidation loan.
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