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[quote=Anonymous]Get Suze Orman's book Women and Money out of the library.  Watch her show on Saturday nights at 9 pm.  You'll learn a lot.  If your debt is in collections it has been sold to a company for pennies on the dollar.  They will do whatever they can to get paid back, including representing themselves as the original company or threatening you. The cc company has written off the debt and your credit has taken a hit (pull your report, Suze Orman's web site tells you how).  You can either just forget the collections company or try to deal with the company and tell them you'll give them a lump sum (half?) and wipe it out.  You can also work out a payment plan with them (X dollars a month).

You do need to deal with that debt in some way, just to reestablish your credit and move on.  You'll need to have a decent credit score to get a car loan or another apartment, etc.

The advice about mint.com was very good.  All your transactions are tracked, and you can see both your assets and your debt so you know your total net wealth.  You might be able to tweak your expenses to get them down... Just be aware that our family makes about $160/yr (3 people in family) and I take my breakfast and lunch almost all days to work.  Our total cell phone bill for 3 phones is $72/mon (no texts, no data, no smartphones).  No flat screens, no lap tops.  Two old cars.  You need to live like this because you don't have the income to do otherwise.  [/quote]

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