Credit card debt

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Sherlock1708
Posts: 83
Joined: Mon Feb 06, 2012 3:43 pm

Credit card debt

Postby Sherlock1708 » Tue Feb 28, 2012 5:16 pm

Does anyone else have credit card debt? I should be able to pay mine off, or at least significantly lower it, by the time school starts. My credit score is fine (765) so this won't affect my ability to take out loans... I'm just worried about how I'm going to make my card payments once I'm in school. I blame myself obviously and I think I need to join shopaholics anonymous, but is anyone else in this situation? I'm really starting to get worried about this and now I'm wondering if I should wait ANOTHER year in order to pay off my credit card debt. BTW, this is the only debt I currently owe.

03121202698008
Posts: 3002
Joined: Fri Jul 17, 2009 2:07 am

Re: Credit card debt

Postby 03121202698008 » Tue Feb 28, 2012 5:18 pm

I had a little but I just paid it off with student loans. I was fortunate to not need the entire budget so I had the flexibility to do so...

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Ludo!
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Joined: Wed Nov 09, 2011 1:22 pm

Re: Credit card debt

Postby Ludo! » Tue Feb 28, 2012 5:25 pm

How much do you have? If it's just a few thousand you should be able to handle the payments just fine. I had and still have a bunch of debt and I haven't had to miss a payment because of law school

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Sherlock1708
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Joined: Mon Feb 06, 2012 3:43 pm

Re: Credit card debt

Postby Sherlock1708 » Tue Feb 28, 2012 6:14 pm

My minimum payments are $300/month.... which is a lot and almost all of my disposable income goes towards paying off these darn credit cards. I applied for cards before the whole credit crunch so I was 24 years old with around $20,000 in credit AND living in NYC and making a lot more money than I currently am now. Foolish. Thankfully I've wised up and my credit score hasn't been impacted by any of this (it's ironic that you need to own credit cards in order to have a decent score.) Anyway, I'm trying to get as much scholarship money as possible and I won't consider going anywhere at sticker due to my CC debt. I'm 99.99% sure I'll be living with my boyfriend next year, assuming he can find a job wherever I end up, so he will be paying for the majority of my living expenses. But I'm still really nervous about having to make payments while in law school.

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splitbrain
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Joined: Tue Nov 29, 2011 11:38 pm

Re: Credit card debt

Postby splitbrain » Tue Feb 28, 2012 6:19 pm

Yah that's the one thing worse than student loan interest rates these days, hah.

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Sherlock1708
Posts: 83
Joined: Mon Feb 06, 2012 3:43 pm

Re: Credit card debt

Postby Sherlock1708 » Tue Feb 28, 2012 7:39 pm

Tell me about it... although luckily all of my interest rates are lower than 6%... but that could always change.

finaidadvisor29
Posts: 2
Joined: Thu Mar 01, 2012 6:09 pm

Re: Credit card debt

Postby finaidadvisor29 » Thu Mar 01, 2012 6:26 pm

Hah - it's just me but I stayed far away from credit cards while in college. Most people have better self control than me. A few grand in CC debt isn't that bad though - just be careful.




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