I am 22 years old and have almost $10,000 in credit/student loan debt, and need a home in CA next summer?

September 2nd, 2009 | by admin |

Yes, it’s true. I fell for the gimmicks and ended up with a few credit cards with all types of debt as well as a student loan. The majority of my debt is school related (books) or auto-repair related (tires, batteries, brakes, misc.). I have been kind of doing the whole college thing by figuring it out myself and wasn’t aware/no one told me student loans were a better choice than credit (my fault) until it was too late.

I’ve graduated from a 4 year institution, one more year of taking classes, then will be headed to California in Summer 2010 to get a house/apt/condo with a friend and get my teacher credentials at CSU San Marcos so I can teach elementary school.

A: How can I REALLY start paying off this debt (aside from starting with paying for everything in cash/with debit like I’ve been doing)? I am scared I will never be able to pay it all off. What are my other options beside debt consolidation which I’ve read can really mess up your credit?
B: With this much debt, what is the likelihood that my friend (has little to no debt) and myself will be able to get a place relatively affordable while we are both going to school (especially if either of our parents can/need to cosign)? We want to live between Oceanside and San Marcos in North San Diego County if that is helpful or possible.
C: Any other financial advice given my situation?

And please, avoid cutting remarks about my naive collegiate/financial stupidity. I’m well aware of the consequences for my choices and you should keep in mind I have had little to no help in making these decisions because neither of my parents went to college/are financially savvy. I do feel foolish, and am simply asking for help/advice.

Anything would be greatly appreciated.

  1. 3 Responses to “I am 22 years old and have almost $10,000 in credit/student loan debt, and need a home in CA next summer?”

  2. By David Z on Sep 3, 2009 | Reply

    well you need to make sure you keep rent down and car payments low until this loan is gone. use roomates and keep used car to help.

    Never use a credit car again.

    pay of lowest balance card first with extra payments and move up the chain like that until all are paid.

    find a 2nd job for a while to help make more payments.

  3. By Bye Michael, thanx 4 everything. on Sep 3, 2009 | Reply

    See if possible they’ll pay off your debt and you’ll pay them off at a lower interest rate.
    They don’t service all areas but their forms are mega quick.

  4. By Cecilia on Sep 4, 2009 | Reply

    I am cecilia kimran, i live in Alabama, United States, i have really searched for loans on both internet and my bank, but i wasn’t given any, the best i got was a scam called Mrs Elizabeth Jonny, and since the incident its been really difficult trusting any other loan company on the internet, but Mr Kelvin Gate of has proven the negative to me that there are still some people trustworthy, this is a proof and i want any body in need of a loan to contact him, via

    Thanks

    Cecilia Kimran

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