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Young2017

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Was young and stupid
I have student loan debt that is41,000+ and then I have over a 1,000 in debt from being young and stupid. My credit score I 589-596. If I pay that 1,000 of and make payments on my loans will my credit score go up. I would like to get a decent car but right now I cant get a loan. Is bankruptcy good or bad, what about debit consolidation. Please help

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Get your credit on track!

First, bankruptcy will not solve your problem--student loans will not be discharged under bankruptcy so know that you will need to pay them back. Contact the lender/agency that is holding your student loan debt.  Tell them your situation.  Set up a payment plan.  DO NOT IGNORE THEM!  They have the power to garnish your wages and tax refunds legally.  

 I would set up a payment plan for the $1000 debt  ($100-$150 per month).  If you are working, you should be able to pay this $1000 within a year.

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Is the student loan debt current or delinquent? Is the student debt federal or private? How old is the thousand dollar debt? This is info you should have included.

Quick general advice, not knowing your situation:

If student loans are private, they will eventually fall off your reports or could possibly be eliminated with bankruptcy. If the student loans are federal loans, they do not apply to the fall off rule and can remain until paid. It is extremely difficult to remove federal loans with bankruptcy, but it is possible. Very slim chances though. If the loans are federal and are not too far behind you may have several options. Look into them, google: federal student loan repayment programs.

I do not advise setting up a payment plan on your thousand dollar debt, not a good idea to enter payment agreements, especially when it could be close to falling off. I don't know, you didn't say the ages.

Best advice here is to start reading on all of this stuff, come back and ask a new question and be a little more specific about your situation, just don't include any personal info, but give more details for better help.

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