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hi everyone i am 20 years old and im really struggling with debt right now.. is there anyone or anywhere i can turn to for help? would a personal loan help me to get these credit card companies off my back? also have bad credit with not being able to keep up with payments. i have been trying for almost a year to pay this debt off but going between part time jobs its hard and im having a difficult time trying to find full time employment. any help is appreciated!!

My boyfriend has been struggling with the same thing. Worked full time hours and bit off more than he can chew, now he hasn't been receiving those full time hours and got a new job. He's been in debt for about a year and a half and has been really stressed out. He decided to get his credit consolidated. Instead of making big payments for each credit card, he now pays about $75/month. The catch is he can't use his credit card until its been paid off. But he's less stressed now and actually has some money to save!  
I don't know your story or anything, but I hope this helps!

Call your bank and make an appointment. An advisor might have some decent ideas to help you out and get you back on track. Good luck!

Desiree_B said "My boyfriend has been struggling with the same thing. Worked full time hours and bit off more than he can chew, now he hasn't been receiving those full time hours and got a new job. He's been in debt for about a year and a half and has been really stressed out. He decided to get his credit consolidated. Instead of making big payments for each credit card, he now pays about $75/month. The catch is he can't use his credit card until its been paid off. But he's less stressed now and actually has some money to save!   I don't know your story or anything, but I hope this helps! "

I have a friend who was in the same position as this. He opted for debt a debt consolidation service as well and it helped him get out of debt.  
 
Talk to your bank to see if they can do this for you or find a company that does it.  
 
Most credit card companies, when faced with getting repaid at some point in the future, or not at all, will opt for the former and work with you or your bank to help you pay off the debt.

If you have missed any payments and have low income you will have a difficult time getting a consolidation loan. If that is the case here is a strategy you could try:  
 
Call each of the credit cards and explain the problem and see if you can get a lower rate. Figure out what the minimum you can commit to each card is and keep that commitment. Then do not charge anymore on the cards! Cut them up if you need too. If you have extra money put it on your lowest balance card. You will feel great when you get one cleared which will help keep you motivated to keep going. Once one is paid increase what you pay to the others.

I was in the same boat at one point, as everyone else suggests talk to a financial advisor. My choices at the time were to consolidate or to get a line of credit, the line of credit ended up having a much better interest rate. Shop around! I found many different interest rates from different banks, to be honest I really like Scotiabank. Good luck, it's a huge weight to have I know!

M.C said "hi everyone i am 20 years old and im really struggling with debt right now.. is there anyone or anywhere i can turn to for help? would a personal loan help me to get these credit card companies off my back? also have bad credit with not being able to keep up with payments. i have been trying for almost a year to pay this debt off but going between part time jobs its hard and im having a difficult time trying to find full time employment. any help is appreciated!! "

If you have collateral, you can probably get a line of credit. If not, then no.  
 
Your best bet is to have a parent co-sign a consolidation loan, that's what I did when I was your age and had the same problem. The banker cut up my credit cards in front of me, lol. Good luck!

Do you know how many adults get into trouble with credit cards as well, it's not just youth. Sheesh, uncalled for.

make a proposal to the people that the money is owed to as to how much can be paid each month , this is better for you than a consolidation loan. if this does not work make a proposal under the bankruptcy act , myers norriss penny or dunwoody do this for you

myhandleistrain said "Young people and credits cards do not mix. How did you go into debt? Wait until you have the cash, then buy. Only use credit cards if you can pay them off without interest. I work with a lot of 20 year olds and hear the same issues day after day. Not saying this is your case, but many are living beyond their means. It's really sad to get in the hole so early in the game of life. Good luck. "

not a rant by you. I had a credit card at 18 and I "mixed". Does it matter how he got into debt to you or any of us. Emergencies do happen.

depending on your budget you have a few options and i would try the bank first  
 
go to them and see if they will give you a consolidation loan/line of credit whatever, then cut up your cards, freeze them in a block of ice or whatever so you dont use them again  
 
if the bank says no then call each and everyone and see what they can do for you, be absolutely honest and polite with them, most will be able to come up with a plan to help you pay, they do not want you to go bankrupt so they will work with you  
 
if that doesnt work go in and see a bankruptcy specialist, you may have to go that route or a consumer proposal but they will help you explore those options with you  
 
also go in and see SA if you havent already and get your resume tweaked, see about skill training ect to make you more employable, the thing is no matter what your income is(really even Doctors get into this mess)you have to be good at a budget or you will be back here again  
 
good luck

Call this company - Consolidated Credit. They work on your behalf to form a repayment schedule that will fit your budget and best yet, they will either get your interest rate on your cards to very low rate or 0%.  
 
I used them about 7 years ago when my credit debt was out of control and money was not coming in. I have heard that in some cases they were able to get the credit cards to forgive some of the debt for repayment of the rest.  
 
I worked for 3.5 years to pay off the debt and they offered online information about budgeting, planning for big expenses, etc.  
 
Consolidated Credit can be found on line for additional information. For us, it was better than getting a loan and it didn't destroy my credit. I was still able to cosign a car loan for my oldest son at a local credit union.

It's this simple:  
 
Stop spending money. Just stop.  
 
That is the only solution.