how can i get rid of my credit card and student loan debts?

Answer 1

Pay them off.

I mean seriously. Your question is extremely VAGUE. How about delivering more information. Y oure only going to get more answers like this if your question remains so completely open to speculation.
Habe you heard of refinancing? Contact your student loan company and tell them y ou want to extend the life of your loan and make lower payments monthly. As far as credit cards go....if you SINCERELY CANNOT Pay them, go see a consolidation service. For a fee, they will get your debts REDUCED or SETTLED for a much lower amount, OR like a student loan, they can extend the time you have to pay it off and at a lower rate.
But if worse comes to worse, and you CANNOT afford to pay off your credit cards- theres not much they end up doing. It WILL affect your ability to get loans and credit in the future, even a house, but theyre not going to come to your door and start taking your couch and tv or put you in jail. THE WORST they can do is file a JUDGEMENT against you which you wont even have to physically appear in court about. It wll affect your life, but you dont HAVE to pay it off. If you have no money to pay this crap, what do they think youre gonna do? Pay even more than you cant afford now? Ive had capital one threaten to sue me for a 1300 dollar debt, that they JACKED UP to 2700 dollars. If I cant pay 1300, what makes them think I can pay 2700 in late fees and interest? Ive received letters saying that a suit is being filed, but so far, aint jack happened to me and I dont expect that it will. MANY PEOPLE owe MUCH MUCH more than I do, and nothing happened to them either. Its not like a car loan, where if you dont pay they come and take your car. Theyre not going to come and say you bought this and that on your credit card and we are taking it now. They send threatening letters and call your answering machine like CRAZY, but once you TELL THEM to leave you alone, by law they have to. Doesnt mean they wont file a claim against you though. But it will by law, make them stop calling you and sending BS letters.

they mostly rely on fear to make you do whatever to pay them. Thing is, theire insured and write these debts off as a bad debt and then you have to wait like 7 years to have it taken off your credit report. But you'll find those 7 years go by fast when you realize that you dont TRULY need a credit card to live.
Do you budget your self? MANY people dont know how to budget, you may h ave to find out, are you spending too much on food and entertainment during your paycheck periods? If so, start changing your lifestyle, dont eat out, dont buy items that do nothing but sit on a table or shelf and look pretty etc etc. AMericans are constantly being told by TV and radio etc that they are EXPECTED To buy buy buy everything that they dont even TRULY need. Ignore the lies and live within your means.
FOR EXAMPLE Buy a 30 dollar CROCK POT and for a 2 dollar bag of potatoes or the same 2 dollar amount of carrots and a 10 dollar bag of bonesless chicken you can eat ALL WEEK, just serve it with noodles or rice or a 50 cents can of green beans to change it up daily.

Life will get better in time, be patient. You'll be surprised at how fast time can fly with lifes distractions.

Answer 2

As a person who had a little bit of trouble with student loans I'd recommend that you defer them. I did mine online and it only took a minute or so for a pre-approval and then another day or two to tell me for sure. I've applied for 2 so by the time it's over... I'll have had a year of no payments. As for the credit card debt.... *sigh* lol idk why everyone insists on giving us credit cards when we're so young. What you need to do is transfer your balances to a lower interest. We're in such a period of financial crisis right now, more and more things are being forgiven. So perhaps you want to just defer the student loans by claiming financial hardship.... and concentrate on getting that credit card balance down. If the debt is old you also have the option of coming up with a payment that's much less than you owe. Say for instance you had a 10,000 dollar debt that was old... you could contact the company and say hey...I really don't have 10,000 but I'd like to work with you on getting this resolved. Maybe we can come up with a payment plan. I did this once for a card that I had when i was 18. It had grown to about 1200 and I ended up paying 500 dollars to have it settled. I guess the main thing is to just contact your debtors and seeing what available options you have. Good luck.

Answer 3

Just pay them a little bit each time. For ex. if the credit card minimum is $28, I will pay $35 which is $7 more then what the credit card company wants. You can decide how much extra to pay off then in no time, all the credit card debts and student loan debts will be gone. All you have to have is patience.

Answer 4

There are a few things that you can do.
1st Pay them
2nd Don't pay them and not care what happens to your credit
3rd go bankrupt but that will only get rid of your credit cards a bankruptcy do not get rid of student loans and taxes but it will give you extra $ to put towards you student loans.

Answer 5

Well the answer is very easy in theory but requires major discipline in practice.

Bottom line:

Spend less than you bring in each month and put the remainder towards paying down your debt. Once your debt is paid down you will also have mastered the very useful skill of living within your means. You can then take that surplus and begin applying it towards a down payment on a home or a nice nest egg for retirement.

Answer 6

Transfer them to a 0% transfer balance credit card (they normally are for only 1 year) and then make payments that are double the minimum. If you still haven't paid them off in a year, do the same trick again until they are paid off.

Answer 7

The easiest way is to pay them off through hard work and effort. There are other ways, but I would not recommend them. If you agreed to pay the loans back, you need to keep your word or it will haunt you for the rest of your life.

Get a second job at night to earn extra money to pay them.

Answer 8

If you file Bankruptcy and the student loans are federa loans they will not be discharged.

I would reccommend offering them settlements when you have money to pay each one a lump sum.

This article may help, good reading.. http://www.expert-credit-advice.com/index_debt.htm

Answer 9

Start with cutting up all your cards......do not use them anymore! And work with your card companies as to how you need to pay them off. As well with the student loan...you should pay them off!

Answer 10

Just don't use your credit card or talk to the bank. Move into a small home and don't buy what you don't need and then work a lot and you will pay off debt in no time. Email me for more tips at: [e-mail]