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I have really bad credit and I feel overwhelmed and don't know what to do. It all started when I turned 18 and took out one credit card. I have always been very good with money, finances, and saving and thought that I would never be one to face credit problems. Growing up, my parents always struggled with bad credit and tons of bills…. mainly because my mom kept digging herself in holes she couldn’t get out of and my dad wasn’t aggressive enough to take hold of the finances although he wasn’t much of a spender. A couple of months after I turned 18, my mom took out multiple credit cards under my name online with my social and never told me. She ruined my credit before I had the chance to build it up and I have been paying for it ever since. I am 21 years old right now and the debt has escalated way over my head. I felt angry that I had this debt and basically left the burden on my mom to pay off which she promised but never got past paying more then just late fees and interest. When I turned 21, I felt the struggles of bad credit. Getting myself a car and apartment were almost near impossible and I struggled hard to get them both. I have matured a lot and have token the bills under my own control instead of waiting for someone else to pay them but I feel very overwhelmed. Trying to pay the debt, my car, insurance, rent, etc have become too much. I moved into my first apartment with a 1600 deposit. I now find myself with so many bills that I need to take out a loan to get back on track but have horrible credit. Does anyone know of any place I may go in order to take out a loan? I want to pay off everything and everyone who has lent me money and just worry about one payment a month. (TO THE PEOPLE ON THIS WEBSITE) your postings and helpful advice to others has touched me deeply. It’s nice to see people caring about other people. Please feel free to post comments..

-From the one who still has faith of a better tomorrow




well I can't help you with a loan or anything, I'm sorry to read your story. But I just have to ask ... what is your relationship with your mom like after you found out what she did, and now that it is 3 years later struggling through what you have, is it different than when you were 18 and just found out what she did? What does your Dad think of the whole thing?

Sub: #1 posted on Mon, 08/25/2008 - 18:43

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

You mother committed fraud and unfortunately for you to have disputed the debt you would have to have filled out a police report and had your mother arrested. Its certainly an awkward situation. Your real options now are debt management , debt settlement , or bankruptcy. I would look into a dmp first . It will get you one payment and at much lower aprs. If you are overextended and can't afford that payment than you may want to consider a debt settlement program. You will typically pay around half of what you were payment and will settle your debts around 40%-50 % of what you owe. If you can`t even afford that than you might want to speak with an attorney about possibly looking into a CH7 bankruptcy. Hang in there. :)

Sub: #2 posted on Mon, 08/25/2008 - 19:34

mobile0311 mobile0311
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(Posts: 1817 | Credits: 104.57)

Thanks for the responses and the advice. To answer the first question, when I first found out what my mom did I was sitting in my college dorm and started crying. I yelled at her and told her I didn't want anything to do with her and asked her how she could do something so heartless. My mom was very distraught and told me she did it out of desperation. Any outsider looking into the situation would find it hard to comprehend that I have forgiven her but I have. I love her and although what she did was very unforgiving, she has been there for me in alot of other ways. She has been trying to make up for it and gives me the little she can but it still isn't enough to help. To answer your second question, yes my father was really mad at her. I have talked to my mom about help for herself by possibly going to debt management classes. I feel that my dad must also take more control of their bills so that way my mom doesn't become overwhelmed. My view of everything now that I am 21 is very different then when I was 18. All I want to do now is handle my debt and rebuild my credit something that I wish could be done overnight. To the second person, I will def. take what you said into consideration thank you

Sub: #3 posted on Wed, 08/27/2008 - 10:49

sweetkiiisses sweetkiiisses

(Posts: 3 | Credits: 0.76)

I have another question that isnt really related to this lol. How do u change ur avitar?? Everytime I come to this page its a different one sometimes a man or a girl I hate it

Sub: #4 posted on Wed, 08/27/2008 - 10:53

sweetkiiisses sweetkiiisses

(Posts: 3 | Credits: 0.76)

under members area (top right above video of the darkhaired girl) click on Edit Profile. Scroll down to the bottom and you'll see where you can upload your own avatar.

You are a better person than me for being able to forgive your mom. She shouldn't be allowed anywhere near your families finances, your dad should have complete control over every dime that comes and goes from that house. Your idea about debt management classes is perfect, if she is TRULY sorry, then she'll look into them and GO!

Sub: #5 posted on Wed, 08/27/2008 - 18:24

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

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