How can my bank help with credit debt?
I am a soph. in college and make some big mistakes with my credit cards. I maxed out 3 worth 3,000 a piece. I am working with one of the credit card companies with payments as we speak, the other 2 have been sent to collection agencies. I work full time as well. I dont know the best way to go about this but I want to resolve this logcially and as quickly as possible. Is it possible for my bank to help me? Or should I try something else?
The only way your bank can help you is to approve you for a personal, or debt consolidation loan. However, because you have 2 credit card accounts in collection your approval chances are low. You may want to join a debt consolidation company where they help to you to pay your bills at a budget you can afford. Some peole say it’s a con some say otherwise. Do your own research and see if that’s the right choice for you. You can also try calling the creditors to see if they’ll make some sort of payment arrangemenets with you. They’ll most likely work something out with you because they’d rather have a payment instead of none.