I have just over $20,000 in student loans, $8000 car loan, $700 credit card, I’m working on paying off a charged off credit card of about $3500, and I have a hospital bill of around $1400. I currently make $23712/yr. I’m making minimum or Income Based payments on All of them and now my IBR for my student loan has gone up by $20/month due to a raise. Due to the charged off credit cards and some hard times after a divorce, my credit score is around 600.
I can’t seem to make ends meet. I zero out my bank account or more every paycheck. I don’t feel like I spend frivolously and not only am I not making a dent in my student loan or credit card, I’m not able to save any money for retirement, household projects or even a vacation! I’m also putting off refilling my prescriptions month after month. On paper I make too much to receive assistance. Can you make any suggestions of how to conquer this?
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