How to settle?

Dear Gurus,

I had 8k debt and a 16k car loan(I surrendered the car which was 7 month old) when my visa to reenter US was rejected 3 years ago due to insufficient documentation on part of my employer. I had a good credit rating till that point, but I couldn’t sustain my payments after my visa rejection. I had to return to my home country find a job and start life again.

I plan to apply and sure of getting visa this time. But, I don’t know what awaits me. I have no information on what happened after I was out of US on all my accounts. I’m scared of returning back, but cant keep myself awake everyday with all those feelings. I want to settle these accounts.Please advice if you can.

What country did you go back to? I don’t know all your personal circumstances, but is there a reason why you would prefer to be in the USA over your home country? Whether you are coming back to the USA on a visa or not, then it may be best, just for your peace of mind to find out what your debts are and start planning a real action based payment plan yourself. Having a debt, that no doubt accrues interest, is a life of turmoil to live no matter where on earth you are. Put it in this perspective… you built up the debt, now the only person who can get you out.. is YOU.

For a temporary amount of time, you will have to surrender to the debt and pay it off. Whether you start right away or next year, will only be the difference of interest accruing and your mental anguish over it. You will still have to deal with it, and once you do… half the personal battle you are going through will be over. Is it worth to be that worried about it, when you have every means to take control of it? No.

Do you still have past records of the statements on those debts?

Appreciate your response. I’m from sri lanka. Only reason i want to retry visa to US is to payoff my debt so that i have a clean record and comeback with pride to live good life back home. I couldn’t sustain my payments after visa rejection as my meagre salary i get here will not suffice. Standard of living in these two countries is very different. What do you think about getting online installment loans from or similar website?

I do have my credit card numbers and car account number. Though no statements or agreement letters available as I couldn’t return back US to collect any of my belongings.

Now can anyone suggest me if i should go for debt management or settlement?

Also, will there be any court proceedings or arrest warrant issued against me?

I will already be under high pressure to perform at my job as I’m not a native, if I have these court proceedings too… I’ll be in a mess.

I am in debt up to my ears $12,820

I started to fix it by making a spreadsheet. I know I have to pay before it is due so as to not incur late fees and then overlines. I am getting there but need encouragement and help.

Here is the breakdown:


Exxon 300 63.51
Boscov 300 167
Chase 300 269
HSB 545 495
Capitol One 600 562
Capitol One 800 784
Radio Shack 800 790
Citibank 1,600 1,447
Dell 2,000 1,989
Home Depot 2,000 1,922
Nautilus 2,200 2,281
Discover 2,200 2,050

The cards are all cut up and gone. I think I am supposed to shotgun them? Pay one off then go to the next? All help would be appreciated.

Hi there! I just started helping people control their budgets and get out of debt. I have a passion for it and would love to help!

Be sure you make your minimum payments on all cards, but put ALL extra money towards the smallest debt first. Once that is paid off, put all the money you were paying on the first card as well as all extra money to pay off the second card.

The first thing you need to do to help you get out of debt, is control your spending, which I see you have cut up your cards…Congrats! Get on a budget. This is so important. Decide what you need for each category (food, home, electric, gas, etc…) and stick with it. If you spend all your clothing budget in a month, don’t buy more clothes until it’s time to replenish the budget. Find ways to save money, such as coupons for groceries, eating out less, buy used when possible.

If you have any more questions, or would like help setting up a budget, I’ll try to answer any questions.

This is very informative. Is this a good idea to have some moeny keep as fixed deposit and after some years we get a lot more than actual amount. If so then what & where I look for.