I'm only 24 years old, and have had medical issues

I'm only 24 years old, and have had medical issues in the past, therefore I have about 3 charges on my credit report from the local hospital, ranging from $700-$5000, I also have a charge on my credit report for breaking a lease at an apartment complex with my boyfriend at the time. I don't know how to fix it all now. I just got married 2 months ago, bought our first house 4 months ago and was unable to join my husband on our loan. This was very discouraging. We just applied together for a used auto loan, so we could save money on gas, which we also got declined for, because of my credit and those charges. Please help me, I'm losing all hope and I do NOT want to file bankrupcy so young.

1 Answers

Hi Katie,

Don't lose hope - you're young and your credit will recover. I, too, was in your shoes at your age, and it all worked out.

I don't believe it will be necessary to file bankruptcy, as there are other options. If you don't mind waiting awhile for your credit to improve you do have the option of calling each of these creditors to make payment arrangements. Of course, depending on your ability and affordability, it could take some time, but at least it's a move in the right direction.

If you have access to a larger sum of money (loan from a family member, perhaps), you can also reach out to your creditors and offer them a settlement, which is a lump sum payment for less than the full balance. For instance, if you owe $5,000.00 on one hospital bill, you could offer them $1,500.00 to consider the account settled in full, with no further balance owing.

These are just a few options that I hope you'll consider. I wish you the best!

Marie Megge


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