I am a student, and I have somehow managed to get myself 8500 in credit card debt. I want to go to school full time, but it is impossible to do so because I am trying to pay off my debt. What is the best thing that I should do? Does anyone recommend debt consolidation. I havent started at the 4 year school yet, but I hope to start in the fall of 2002. What should I do. My credit is okay. I just have a very high debt ratio.
I wouldn't. You're to young to get your credit fouled up. Do what the rest of us do. First of all, quit charging. If you can't pay cash for it, you can't afford it. Next, get a job or a parttime job and start paying'em down with the goal of paying 'em off. Cut your expenses to the bone. $8500 bucks means you have between a $200-$225 month payment. A combination of less spending and more income is the ticket. Good luck!
