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I’m a Mother, Wife, and College Student Drowning in Debt. Ericka

“Dear Steve,

I’m a 25 yr old mother and wife. When I was 18, starting college in 2001, I signed up for one of those “Hey get a free t-shirt! Sign up with MBNA!”, yeah big mistake… later on I was offered another credit card by the mail, I took it, I was never taught anything about credit… I paid on time for about 2 yrs, till I was hospitalized, than went back on my regular non-late payments.

Fast forward to 2006, I lost my job, my husband lost his, and hear I am, in debt, both of us. I’m swimming in about $5,000 in credit debt [it used to be $2,000 but you know how interest rates go], and about $2000 from a cell phone company. How Sprint took a $600, and a creditor brang it up to $2000 with their fees, and now their coming after me legally. I feel like I’m sinking right now, as both of us cannot provide financially the way a parent should. I thank God that I was able to get a little part time job, giving me an income of about $600-700 a month. I’m currently back in school, finishing my Bachelors in Education, and the only thing that is prestine at the moment on my credit report is my student loans, as I’ve never defaulted, and they have yet to go into repayment.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

I’m ready to look at the horror that is my credit report and fix what my 18/19 yr old self got into, so that I can be able to buy a house one day along with my husband, so that we can improve our quality of life.

Ericka”

Dear Ericka

I had the following questions that I’d like for you to answer before I can answer your question. #comment” rel=”bookmark” title=”Comments Link: “>offer advice in the comments section please feel free to participate.

Damon Day - Pro Debt Coach
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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.
Steve Rhode
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