23yo feeling overwhelmed with debt. Need advice!
Date: Sun, 06/03/2018 - 08:44
23yo feeling overwhelmed with debt. Need advice!
It looks like you are in a
It looks like you are in a big trouble. But first tell me - do you have a steady income? how much do you save per month?
I would suggest you to consult an attorney and opt for a debt settlement program. Your debt amount is quite big. a REPUTED debt settlement company may help you to settle your debts within 50% to 40%.
Apart from that, you can get a seasonal/part-time job and earn as much as possible. And most importantly...avoid using credit cards and other forms of creating debts.
Your situation is bad but
Your situation is bad but manageable. You can probably settle the unsecured debt for under 5K in multiple payments. The student loan if it's private can be settled for 50 cents on the dollar, however if it's NCT it could take almost 6-8 months of non-payment to get to that stage. Your credit will take a hit, however it will rebound, but it could take some time if you have no stable trade lines such as car payment, mortgage etc. As a debt negotiator I wouldn't stress too much, your situation is extremely manageable. I have seen and resolved far worse. Just take it one day at a time and it will be fine.