I have recently graduated from college and will be be on my own financially for the first time in my life (no more help from parents). My only source of income will be a full time job which pays me about 1200 a month and I have about 600 in expense each month (not including credit card payments). I have 4 credit cards (3 fully maxed) with a total balance of 5700. I am supposed to go to spain in September where I will be making 1000 a month with expenses at about 600 and that will be for a year. My question is what should I do about these credit cards? Are there any options other than to continue paying minimums and living on nearly nothing after my normal expenses. I cant get a loan because I think I have made my credit pretty bad with these credit cards being maxed and I am not sure what options I have at this point.
Can you sell some things to help get you out of the hole? If not... If you can't pay and you can't refinance, what are your choices? Bankruptcy, maybe?
