well, i dont really know where to begin, just that im in such a HUGE hole at such a young age due to my stupidity. To give a little background info, IM currently 22 and a senior in college working a full-time job (45-50 hrs week) In high school i started my own company and made really, really good money. ($50k year at 17 yrs old) Its hard to believe, but i blew 90% of it as soon as i got it. One thing all this money allowed me to do was get alot of credit cards quick, with high credit limits. Well, my freshman year in college, I got three credit cards, all with limits of $10,000 each. My hobby at the time was old muscle cars so i went and payed cash for an old car. Well, three years later I have amassed $30,000 of credit card debt by restoring the stupid car. I kept sinking money into it thinking i could sell it and get out of it but that wasnt the case. A year ago i also bought a new Cadillac Escalade (they gave me the loan at 21 yrs old, i couldnt believe it either) Now i make $3000 a month and have no money left over at the end of the month and need advice on the best way to get out of debt. Once im out, i will NEVER have another credit card, and the ones i have now are in the trash. My car payment is $943 a month, $150 insurance, rent $500 (with roommates) and credit card minimums are $650 each month. That leaves me with just a couple humdred a month. Im upside down on my car, so i cant sell it without coming up with $8000 dollars cash. I cant get any kind of loans with the debt i have b/c my three cards are all maxed. Is there any way out? at the end of the month, i have about $100-200 dollars left over. I cant get another job because of school. Is there any way out of this? I am putting the car up for sale next week for $17000 (thats high for what its worth) Am i doomed? thanks in advance for your help......feel free to email me any comments or suggestions...... firstname.lastname@example.org
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