Bad Credit Agency

Want to stop paying credit cards. Only 21 with bad credit?

Ok, well it all happened when I was 18 yrs old. Got about three credit cards with 1,000 credit each. But the problem is that they all have high interest rate. Now I am owe about 6,000 dollars. I stoped paying all of them about one yr ago because it seemed that my bills got larger and larger even if I was paying them. Before I was able to pay at least the minimum or more if I could. Now it is very, very hard for me to pay even a small amount. I am a full time nursing student. And dont know what to do. I just got contacted by a attorney collections office. I'm very, very worried. A paralegal told me that they could send me to court and I could get a lawsuite. What can I do if I have no job, and have two more yrs before I finish nursing school? I had it all planned before.... Finish my career and pay all those credit cards off. What can they actually do to me???? Please someone help!!!

Public Comments

1. What they can do is take you to court and get a judgment, at that point they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes. All of this will show on your credit for 7-years making it very hard to get any other types of loans without making massive down payments, paying huge fees and State maximum interest rates.
2. Man deja vu. I had 3 credit cards with debt of $5000 because my mother used them when she was sick and out of work. Plus I had a sears and jc penny card that she messed me up on. I didnt pay and didnt receive any calls because I assumed she was handling it, but when it got down to me finally having to pay when I turned 22 I realized how much my mother messed me up. I found a credit agency and they worked with me. But it seems this is too late for you as times are tougher now, it seems that they will garnish your check as soon as you get a job, or maybe try to seize any asset you might have now. I truly hope you get help, I feel your pain
3. I hope you turn out to be a better nurse than speller (lawsuite?) You need to clean up this matter ASAP. Many companies (hospitals) will review your credit to determine your character worthiness. Said another way, if you have crap credit, you may not be able to get hired. Having poor credit is an indication of your ability to manage yourself and your responsibilities. I don't understand why anyone would think that ignore debt would simply make it disappear.
4. There are things that can be done, but you will need some type of income and some way to pay the creditors. The posters saying they will garnish your wages and etc. are not exactly correct. It depends on what state you are in, there are many different options for both consumers and creditors alike.
5. The best thing you can do is to maintain contact daily with each of the lending instuitutions so they can see that you are trying to honour your communication obligations if even if you can't afford the minimumrepayments right now. Ask the lenders to cancel your cards to stop legal action against you and implement a payment arrangement to start in couple of months when you are back on your feet after you found a JOB. The lenders have legal obligations to exhaust every avenue of assistance to you only if maintain contact with as per your signed contract... I know this sounds hard to do, but just try it and make best friends per say with the contact/s you are given at each institution and ask them directly for their help. They know the ins & outs of the lender they work for and will be able to assist you better than any of us! Kind regards, LK :)