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hobart8584

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Do I need legal help?
My credit is quite horrible. I need help. I want to get it under control so I have some means of credit in my future. I have a few large student loans in collections which is my fault. I don't have the money to pay them. I missed payments, it all went down hill very fast. My student loans are for around 30,000, but according to my credit report I'm almost 60,000 in debt. I don't know where all the debt came from. There are 20 accounts on my credit score and I can only account for less than a dozen. I don't know where to start or what to do. The amount of debt I'm in at my age scares the crap out of me and I need help. I don't know if I should hire a lawyer or if that will end up hurting me too. Please, somebody help me. What are my first steps here?

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Don't Panic!!

Student loans are a headache that isn't going away until they are paid off.  Unfortunately, you can't get them discharged in bankruptcy so your best bet is to try getting them consolidated and see about arranging a payment plan that is workable with your income.  And don't put this off since the interest charge will keep piling up.

Since you don't know where some of your accounts are coming from, file disputes on those accounts with the reporting credit bureaus and they can get back to you. They have to investigate any items in dispute.  You should get a response in no more than 60 days.  Then you can work on arrangements to make payments.

You'll have to take some action now on getting your debts resolved.  Delay is only going to worsen things.  

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