No. of Recommendations: 6
I have a situation that I am not sure how to approach and would like any advice that anyone cares to offer. First I am a college senior and will graduate in June of 2002. Secondly I was laid off from my job at Sprint last Dec. and have not been able to find work in the Kansas City job market that pays much more than unemployment and at this time I still have no prospects for work.......the K.C. job market is saturated with out of work telcom workers right now. Third, I have amassed about $27,000 worth of credit card debt over several years. YES, I know this is totally stooopid but it is done and I am about to run out of savings just making the monthly required minimum. I really do not want to file for Bankruptcy as I realized that I made the mistake and no one else should pay for it but I am not seeing any other clear alternatives and I will have student loan payments starting in Jan. of next year. Does anyone have any words of wisdom out there? THANKS

Hi rwood,

First of all, you're graduating in a few weeks, and that may well change your prospects for employment. If not, then you'll need to move to an area where there is a job for you.

As far as bankruptcy, that seems far too premature to even think about. Keep paying the minimums for as long as you can, and look into the possibility of converting to lower introductory rates. That would decrease your amounts due and buy you some time.

Meanwhile, look into other ways of making some extra money, even if it's out of your field. If it's more than unemployment pays, then you're ahead of the game.

Bankruptcy is a last---LAST resort, and many people right here on this board have overcome debts far higher than yours.

Yes, things seem bleak right now to you, but you're about to reach a huge milestone by having a diploma in hand. I'd suggest expanding your job search and consider relocating wherever a lead takes you.

Good luck!

...but I still am...

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