I am a college student who has over 10 grand in personal credit card debt and I am getting chased by Barclay Card for a DirectTV Rewards Visa and Chase Bank for an Amazon and Amtrack credit card. This week I got a letter from Chase saying they were going to take me to court over the money I owe them. I have no income and my parents will not help. I am getting married next November and I do not know what to do.
Are there any organizations or groups where I can get a loan to pay for the settlements being offered by the Credit Card Companies and be able to repay them after I graduate this May. I am looking to get a job as soon as possible. I am desperate I will be getting served around November 20th.
The only possible place I can think of, LendingClub.com, probably won’t lend to you because your credit score is damaged by your recent delinquent payments and collection accounts.
If you have no income then you won’t be able to do anything. You’ll just have to wait to be served, go to court for the case, you will probably lose and then have a judgment against you. That will appear on your credit report. But it is what it is.
When you start to make money again you can either pay off the judgements you’ll have or proceed to bankruptcy to wipe them out.
The underlying issue here is you incurred debt but appear to have no way to repay it. Now, unfortunately, you’ll just have to face the consequences.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.