Credit card debt! What can i do?

Question

before i start, i know it's MY mistake..

..buuuuuuut.. i have a credit card at WELLS FARGO and just realized i owe them $650. i'm not going to mention on here why i couldn't pay it but it's $650 NOW because i couldn't/didn't pay it before.

well i am FREAKING OUT because my parents are going crazy. i don't have a job but i was literally filling out 7 job applications before they started yelling at me.

so my question is:

WHAT can i do so my credit doesn't get screwed up? does calling them do anything? if i do, what do i say?

i don't know if this is significant at all but i have a friend who works for wells fargo. can he cancel it if i ask? i'm too embarassed to tell him about my situation but if worse comes to worse..

Answer 1

And no, you can't ask your friend at Wells Fargo to 'cancel' the debt--this is act that would get him fired.  For cause.

Answer 2

Something I did with a creditor was called them and briefly explained that at the time I have no payment available and was not deliberately avoiding.They surprisingly and kindly set up a plan called a deferred payment.Basically,they put my bill on hold for 3 months and refinanced the balanced so that I could have more time to save and pay without it getting ugly on my report.Just give it a shot,it never hurts to try and wish I had known about that a long time ago.

Answer 3

Cut up the card and don't buy on credit again, especially when you don't have a job!  If you can't pay cash for something, then you can't afford it.  Like someone else said, borrow the money from someone and then pay them back ASAP.  You racked up the debt and it is your responsibuility to pay it off.  There is no getting off free card even if you have a friend at the bank.  You should also read Dave Ramsey's "Total Money Makeover", and throw in "The Tightwad Gazette" for good measure.

Answer 4

you need to get a payment in, whatever you minimum is.  borrow enough for the minimum payment, get a job, pay the person back, and try and get it paid off.  Hope that helps.