My name is Michael, and I am 23 years old, 2500 dollars in debt to bill me later, and earn 8.50 an hour working for a computer retailer. I had never been given much to work with before, so I went nuts. Always saying “This will be my last purchase.” I screwed up. Badly. Recently, my payments have begun increasing. I thought I understood the fine print, but that was just the over-confidence of being young. Assuming I could handle it, and that my payments would never increase was the biggest mistake I’ve ever made. I need help with understanding the hole I’ve dug myself into, and the best ways to dig myself out of it before I’m buried and my credit score is even further ruined. I’m generally a responsible person, and I don’t want the debt to just go away or be paid for me. (though, it would be nice.) I want to pay this off and do it right.
What kind of options are available to me? Is there a way to settle on max payment per month I can be charged? Will BillMeLater be willing to work with me to pay them off at a proper pace? Is there a way to level off the max payment a month that I can be charged? What other things can I do when this is paid to take care of my credit score since this is not doing me any good?
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