Credit card... in debt!!! Help!!!?

Question

i used my credit card (which is a supplementary of my parent's credit card) when i made certain purchases when i was still a minor - and i am 21 now. then now, my parents cannot pay for the bill which has ballooned way way up! the bank keeps on sending me letters. and since i do not have a job yet, i was wondering if i could tell the bank to write to my mom instead of me and that they should bill my parents also?????

Answer 1

First thing is to tell them that you were a minor when you got and used the credit card.  If is was backed by your parents then they are liable.  The bank will probably bill them if you don't pay.  Shame on you for running up bills when you had no means to pay them.  I think you should get a job right away to pay your parents back.

Answer 2

Taking responsibility for your actions is the sign of an adult. Contact the credit card company yourself and explain that you are not working, ask them how much they will accept to pay the debt and develop a payment plan for when you start working.  Be prepared to explain to them the type of work your are looking for and how much you could pay each month.

Get a specific point of contact at the credit card company and stay in touch with them.  It's hard to do but keep them informed as you look for a job, even if you haven't yet been hired.  Keeping the credit card company informed will cause them to be more likely to give you the time you need to find a job.

Make paying this debt your first financial priority, live at home if possible to reduce your expenses so you can use as much of your income as possible to make payments.

God bless!

Answer 3

Is the card in your name or your parents name (or both).   Usually minimum payments are very very low, so at least make a minimum payment or try to negotiate a payment plan with them.

Not paying will really mess up anyone's credit that is associated with the account.

Answer 4

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