I was born in the US, lived in Canada for ten years, and moved back to the States last year. While I was in Canada, I built up a solid credit rating- I had two credit cards, an unsecured line of credit with low interest (7%) and overdraft protection on my checking account up to $3,500. At one point when I was underemployed I built up some credit card debt, but I payed it off. Last year, when I moved back to the US for grad school, I got into a bad pattern of leaning on my credit cards and low-interest line of credit to pay for moving and start up expenses. This June, the world financial collapse coincided with one of my own- I was employed super part time, was making around $750 a month and was struggling to pay rent and buy $20 worth of groceries a week. I just couldn't pay my debt, and I paid very minimally, then not at all. I know I probably should have called the bank and tried to work something out, but what can I say- I panicked and froze. Currently, my total debt load is $14,000 on the line of credit, $3,700 on the overdraft and $1,400 on my Visa. [more inside]
posted by anonymous
on Jan 13, 2009 -
Trying to solve a problem for a dear friend from highschool. She's been ignoring her school loans and came to me out of confidence. They were around 22k about six years ago; She doesn't know how to get herself straightened out. A second job isn't an option (based on her first) as the first job pays well (travel), but is being garnished; She needs a way to get them off her back, but not overwhelm her so much that she drowns trying to deal with them.
I'm ok with money, but I just can't figure out what to tell her.
Are there any counselors who specialize in this that I could send her to? If you're shy about this and dealt with this, please feel free to contact me directly by email.
posted by filmgeek
on Dec 20, 2003 -