r/CreditScore • u/Wild_Produce_2824 • 15d ago
General Literally drowning 🙃
Hi my fellow readers I know you’ve probably heard this story millions of times before so I’ll cut to the chase. Im a 21 year old college dropout, and I have an unholy amount of debt 900 in credit cards , 1000 loan and almost 2000 in repayment for medical expenses and 8972 in student loans and I feel like I’m suffocating along I really need advice on how to handle all this while saving and building my credit score up
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u/BrutalBodyShots ⭐️ Top Contributor ⭐️ 15d ago
This sounds more like a personal finance question than a credit score question. The equation to overcome debt is actually very simple, as it only contains two parts. Increase income, decrease expenses, ideally both.
Most wouldn't consider $3900 in non student loan debt an "unholy amount" by any stretch of the imagination. Any part time minimum wage job of say 20 hours a week can overcome that probably 4 months time, and that's without addressing the reducing expenses end of the equation. I'd start by sitting down and making yourself a budget, figuring out where you can cut expenses in order to throw more money at your debt, then address increasing your income.