bad credit?
yes, i really do need some help. i am only 18 yrs old and my mother got me 3,000 dollars in debt. what steps should i take to get on with my life and have something in my own name???
Public Comments
- If your mother got you in debt, she should give you the $3,000 to pay off the debt.
- I guess the first thing you need to do is make arrangements to pay off the debt before it goes onto your credit rating - if its already there you still need to pay the debt off and it will then show on your history as being a debt but paid off.
- If you were under 18 when the credit was issued in your name you can contest the validity and maybe get the creditors to go after your mother for payment of the debt.
- You should get your mother to pay but if that's not possible, start working and pay off the debt in small increments. Call the credit card company, they will work with you if you explain the situation. You will have to cut back on spending for a while and learn from this. Most Americans are in debt, don't be another statistic..
- Get all 3 of your credit reports from experian, equifax, and transunion. Go through your credit reports and make sure nothing is on it that doesn't belong to you. For more info email your question to sisshonuff@yahoo.com
- How did she do that? Did she put a credit card in your name or joint account. How far do you want to go with this. You could attempt bankruptcy, but that will stay on your record for 7 years. The laws have changed and they are persuing repay instead of wipe away debts. Call the credit card company, put a stop to any future purchases ont that account. Ask them what options they have lowering interest and what the amount they would accept to close that account. Don't let your mother get you into another account that she has access to.
- Work hard to pay off the $3,000, and learn one of the most valuable lessons of your life from this. Don't trust anyone with your credit. You are the only one responsible for you. And, sad but true, moms don't always make the best choices.
- you can always press charges against your mother and dispute the debt or you can get them to settle the debt for Penny's on the dollar and call it a day.
* Some answers may have been provided by Yahoo! Answers.