When I was 15, my parent’s started building my credit by placing me on their cards. Today, I have excellent credit.
However, about maybe two years ago, my parent’s lost our home to foreclosure, and their credit was ruined. They now use my credit when they need it. They take care of all those debts. So my credit has obviously increased over these two years.
However, last year or so, I started using my Macy’s Visa Card. They gave me 3,000 credit. I am now 1,700 in debt. I personally owe 800 on there, but I let my friend borrow my credit to buy a computer he needed badly for school. He is going to get fired soon, and might not be able to continue making payments. I’m unemployed myself.
I’ve always helped in the family business, and just about a year ago, my mom became ill. They are still able to make the payments for what they owe with my credit, but me, myself, can’t.
I can’t go to school or get a job because I have to be home 24/7 to help my mom. I keep making the minimum payments on Macy’s, but it seems like I’ll never be done. What can I do? What’s the solution? I just need to get rid of that debt without affecting my credit and without a job it’s very hard. I don’t know what to do… I don’t want to lose my credit. That specific card has a high interest rate, and my minimum payment is around 56. I can’t even afford to make that payment, asking my parent’s I think would be abuse. They cannot afford to pay me now that they’ve lost so much business.
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