dirt poor college student with credit card issues

[Brandon85]

These banks are betting you'll graduate from college still owing them some money and stay with them as a loyal customer until you die thus making hundreds of thousands of dollars off you.

ohh i see. well capitol one blows, and im never getting another CC ever!

Thanks for all the replys! not to concerened with credit scores right now, wont be needing a house for a long time and i got a decent vehical to last awhile....Thanks again for the info.

[EricaCallaha]

Just an FYI...before filing for bankruptcy, GC Services offered to settle our $1800 Cap1 card for $200. So the deal is out there, you just have to be willing to fight for it.

Good luck...

[Brandon85]

Just an FYI...before filing for bankruptcy, GC Services offered to settle our $1800 Cap1 card for $200. So the deal is out there, you just have to be willing to fight for it.

Good luck...

intresting, thats good to know. well im not filing for BK obviously i dont own anything, just the cloths on my back

[StartingOver08]

intresting, thats good to know. well im not filing for BK obviously i dont own anything, just the cloths on my back

So it is an excellent time to settle for next to nothing on this debt. Get it done, make sure it is in writing so it doesn't come back as zombie debt.

This will help you two ways in the future: 1) it will be very old paid collection account that will drop off your report in about 7 yrs. Sometimes you can get the old paid collections off early. And more importantly 2) you will have learned the hard consequences of mishandling credit very early in life - it will help you in the long run so you don't end up here filing for BK 30 yrs from now!

Good luck

[Brandon85]

So it is an excellent time to settle for next to nothing on this debt. Get it done, make sure it is in writing so it doesn't come back as zombie debt.

This will help you two ways in the future: 1) it will be very old paid collection account that will drop off your report in about 7 yrs. Sometimes you can get the old paid collections off early. And more importantly 2) you will have learned the hard consequences of mishandling credit very early in life - it will help you in the long run so you don't end up here filing for BK 30 yrs from now!

Good luck

Thanks, yes I agree, lesson learned. Thanks again to everyone for the good info.

[junker]

one thought is, they assume you will be graduating from college, and get a decent job in the future, unless you are majoring in needlepoint, or something like that, they arent in any hurry to give in, they can just let the amount grow for a few years, with penalties and interest your 300 dollar account could easily grow to 3000 bucks, then they could get a judgement, they waited over 3 years to get one on me. so they are in no hurry to settle. although they cant garnish in texas, odds are you will be wanting something nice in the future, nice car, house, etc. so they can wait you out, so definitely try and get this one settled now. its way too small a debt to let it screw you up for years....