Thank you all for your help.
Right now I sit on ~$7500 of debt (not including student loans, as I don't have to pay those now). However, the bad part was that at the time of accruing this debt I was going through hard times. First, my father was diagnosed with Stage 4 lung cancer. I was a student at the time, so I quit my job and focused on learning and my father. Since he lived 4 hours away, it was gas, bills, etc all on credit card. Once my father passed, I had some emotional times and bought some stuff I shouldn't. Then it was hard to find a job.
Needless to say, my credit card companies didn't care when I told them the above story. All credit cards are in default and are at 29.99%.
For the past year now I've been making payments on time. However, my credit card companies (mainly CHASE) won't do a thing. I've begged. Spoke with all people. They all tell me to check debt consolidation.
Before a year ago, all my minimum payments were about $1k. Now, I'm at about $600. It's still tough... and I really can't pay any more than the minimum.
Anyway, I'm now facing a lot of doctor bills and it's becoming tougher. I've sent copies of my doctor bills to Chase... again, no sympathy.
I'm sick of Chase... and hope to avoid them (and credit cards) for the rest of my life. However, I don't know what to do.
I was thinking of looking through a company that's listed in http://www.nfcc.org/
JD sent me your question and he asked me to make a comment. (I'm NCN from No Credit Needed, a debt reduction blog...)
2 years ago, I had over $11.5K in debt and I managed to get out of debt in less than 10 months...
I would strongly advise AGAINST using a credit counseling service. I know that the minimums and and
interest rates are tough, but be patient, create a plan, and stick to it. You are very young, and using a credit
counseling company could potentially wreck your credit. Seriously, some lenders view it as bad as
a bankruptcy. And, $7K is not that much money, considering the massive amounts of debt that others
have paid off. For a detailed breakdown, you might want to check this post over on my site...http://www.ncnblog.com/2007/04/16/debt- ... -card-web/
Just a few thoughts about your specific situation...
Are the medical bills yours?
Are you working full time? 2 jobs? married? kids?
Are the bills your dads? why do you have to pay them?
For $7,000, you could work a part time job and
be out of debt in less than a year...
I'm glad to see that you are wanting to be debt free, but there are no real short cuts...
you either have to make more money or spend less, that's the bottom line...
(There are SOME radical situations where debt consolidation MIGHT be the right answer,
but not for $7,000... if it is the rates that are killing you, could you get a personal
loan at a bank to lower the rates? how about calling the medical people..?)
I'll await your answer and we'll all try to help you walk through this!