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I Want to Get My Credit Card Debt Deferred Until I Graduate And Then Pay It Off Slowly. – Alex

“Dear Steve,

Hi, so im a senior as an undergrad in california, i ran my credit card for 4,500 dollars and i also owe money to my organization 2,500 dollars. not including the two medical bills i have each for 100 dollars. I get paid 8 dollars an hour with a job i just started, and ive take 2 unpaid internships. Basically i dont have an income. i have never filed taxes. My credit card company and organization keept harrasing me, shouldi talk to them and explain my situation? i dont want to have a terrible credit when i graduate. please help.

What can i do to get these people of my back? i cant get loans cause my credit is bad, is there a way i can get a loan differed until i graduate and pay it off slowly. Please help, my parents cannot help at all.


Dear Alex,

Sorry, there are no legit options to dealing with this solution the way you want to. The only legal option you have is bankruptcy.

With the credit card, you had to complete an application and agree to the terms and conditions to get the card. You then used the card. Creditors expect you to live up to the absolute terms you agreed to when you took the card.

You could also take some time off of school, get a second job and pay the debt back that way. Or you can wait to graduate and then deal with the credit mess that will exist when you finally do get your diploma. Except, if the organization you owe money to is the school, you won’t get your transcripts or diploma until you pay them.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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