Debt payments while in school?

I am a 21 year old student, no income, just $3,400 left over from my student loan money for this semester. Have two debts -

1) Credit Card=$2,300

2)Car Loan=$1,700

What can I do, as I don%26#039;t really want a job, and I am relying on my student loan money and possible tax refund check of $500 hopefully soon. Also, the goverment%26#039;s stimulus package of $600 will hopefully help, but that won%26#039;t come until May. Any advice? Consolidations? I don%26#039;t want to do bankruptcy? Can I %26quot;sell%26quot; my credit card?

Any helpful info, thanks!

Mike

Debt payments while in school?

First off, you won%26#039;t get a $600 rebate. I seriously doubt you%26#039;ll get anything in the rebate since you%26#039;re probably a dependent of your parents.

You need to get a job, even a minimum wage job, something to give you steady income, even if it%26#039;s not much. pay down your credit card debt first since it has a higher interest rate.

Debt payments while in school?

First of all, cut up the credit card then contact the card company and close the account, you should not have credit with no income to repay it. You can make an arrangement with the company to make minimum payments to keep your credit score unaffected. When you get any refund you should apply it to reducing this debt, and seriously think about getting a job and living on cash only. Your car loan must be paid regularly or it will be repossesed and that will negatively affect your credit for 7 years. Your total debt is too low to qualify for consolidation or bankruptcy and they are legal remedies to be used when all other means have been exhausted. You will not be able to get credit for many years afterwards.

Debt payments while in school?

If you have had no income, you are not going to receive a tax refund, nor a rebate. What you need to do is get a job to pay your bills, or you will end up with a bad credit score and it will follow you for 7 years. Sorry no worky, no refund, no stimulus package for you.

Debt payments while in school?

Hi,

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