“Dear Steve,
I am a student. Graduating from a university with a Bachelors Degree in business. I have 3 credit cards and a car loan. I am behind one month on 2 of my credit cards. I have applied for jobs and will have an interview next week, but even if I do get the job, the hiring process will probably take another week.
What can I do? How can I solve this problem and keep my credit good? Or even if my credit has to go bad, how can I get out of this problem safe?
Also, what can the credit cards do against me? I am freaking out and don’t know what to do. Please help me.
John”
Dear John,
The obvious answer is you need to make at least your minimum payment to keep your account in good standing.
I’d call your credit card companies and see what internal programs they may offer to assist you. Even those programs will require some payment.
The missed payments will appear on your credit report for seven years but don’t worry. Once you begin to make regular payments again and time passes those negative missed payments will impact you less and less.
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