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Debt Collection on Credit Card Please Advise!!

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msOG607

Junior Member
What is the name of your state (only U.S. law)? New York

I am a 21 year old college student. I have had this credit card since high school. I am currently over my limit, the total owed being $886. I work part time as a server, and this past semester I have had to give up many shifts to keep up with my classes and internship. I tried to keep up with it, but after 2 weeks off to transfer home, and the holidays, I have not worked in a while. I begin working this week, but I received a call from a debt collector this morning. This is the first time I've experienced it, and I'm honestly scared. I can pay down the card in a month's time or so, but I am unsure how to proceed from here.
 


OHRoadwarrior

Senior Member
Start making payments. It appears you have had higher priorities than your bill. Get another job, fast food restaurants are hiring.
 

CSO286

Senior Member
What is the name of your state (only U.S. law)? New York

I am a 21 year old college student. I have had this credit card since high school. I am currently over my limit, the total owed being $886. I work part time as a server, and this past semester I have had to give up many shifts to keep up with my classes and internship. I tried to keep up with it, but after 2 weeks off to transfer home, and the holidays, I have not worked in a while. I begin working this week, but I received a call from a debt collector this morning. This is the first time I've experienced it, and I'm honestly scared. I can pay down the card in a month's time or so, but I am unsure how to proceed from here.
A. Cut up card.
B. Call debt collector.
C. Set up a payment plan that you can actually afford, and make the agreed upon payments.
D. Make a budget, stick to it.
 

Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? New York

I am a 21 year old college student. I have had this credit card since high school. I am currently over my limit, the total owed being $886. I work part time as a server, and this past semester I have had to give up many shifts to keep up with my classes and internship. I tried to keep up with it, but after 2 weeks off to transfer home, and the holidays, I have not worked in a while. I begin working this week, but I received a call from a debt collector this morning. This is the first time I've experienced it, and I'm honestly scared. I can pay down the card in a month's time or so, but I am unsure how to proceed from here.
If you can pay down the card, then pay it down. I would suggest that you avoid paying for things on credit if you are unable or unwilling to comply with the terms of repayment.
 

OHRoadwarrior

Senior Member
You do not seem to understand your first credit card is your time to shine. It starts you building the credit you will use for that new car or house. You failed horribly.
 

TigerD

Senior Member
Find a Dave Ramsey Financial Peace class near you. Go to it. Learn.

Alternatively:
Read the Richest Man in Babylon, by Clausen


TD
 
What is the name of your state (only U.S. law)? New York

I am a 21 year old college student. I have had this credit card since high school. I am currently over my limit, the total owed being $886. I work part time as a server, and this past semester I have had to give up many shifts to keep up with my classes and internship. I tried to keep up with it, but after 2 weeks off to transfer home, and the holidays, I have not worked in a while. I begin working this week, but I received a call from a debt collector this morning. This is the first time I've experienced it, and I'm honestly scared. I can pay down the card in a month's time or so, but I am unsure how to proceed from here.
You say that you got a call from a debt collector, and that you owe $886 on the card. What was/is the limit on the card? When was the last time that you made a minimum payment on the card. Are you SURE that you were called by a "debt collector" and not by the card issuer?

If you are over your limit (is your limit maybe $500), and you haven't made a minimum payment in a couple of months, then I wonder if you were called by the card issuer. It seems unlikely that they would pass it off to a debt collector that quickly. Call the card issuer and see what they say. Maybe they will increase your credit limit to cover where it is now if you make at least a minimum payment to bring the card "current". Then start paying the card off as quickly as you can.

Credit cards are to cover SHORT term spending, not to build up a balance that you can't pay off.
 

LdiJ

Senior Member
What is the name of your state (only U.S. law)? New York

I am a 21 year old college student. I have had this credit card since high school. I am currently over my limit, the total owed being $886. I work part time as a server, and this past semester I have had to give up many shifts to keep up with my classes and internship. I tried to keep up with it, but after 2 weeks off to transfer home, and the holidays, I have not worked in a while. I begin working this week, but I received a call from a debt collector this morning. This is the first time I've experienced it, and I'm honestly scared. I can pay down the card in a month's time or so, but I am unsure how to proceed from here.
The minimum payments on an 886.00 balance are quite low. You should have made that a priority. See if you can borrow the money from someone to bring the card current if you want to try to save your credit score.
 

msOG607

Junior Member
Nevermind. Debt collector was for my dad. I haven't missed any payments. And yeah, graduating with a good job had been a priority. Jeez guys be a little harsher.
 

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