' College Students and Credit Card Debt - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Talking about Credit Card Debt with College Age Children

Many Florida college students already have at least one credit card. They may charge seemingly small items like meals out with friends, groceries or other items that may not cost much on their own, but add up quickly. When a college student is home for the holidays, taking the opportunity to talk about credit card debt could end up savings them problems in the future.

Most people make at least one mistake with credit cards. Charging too much or missing a payment is common and fixable. However, if a college age child does not get a handle on these mistakes early, it could set a pattern that could shape the rest of his or her financial life. It may be a difficult subject to discuss, but it is a necessary one.

Reviewing a student’s credit card bills and credit report can give a student the chance to see that any mistakes made now have unintended ramifications such as a history of late payments and higher interest rates. Credit card companies are required to inform customers on their statements how long it will take them to pay off a balance only making the minimum payments. That information could be enough to make a college student realize he or she could be headed for financial trouble.

Sometimes, the discussion comes too late. Credit card debt can sneak up on anyone. Other debts such as medical bills from an accident could also put a young person deeper into debt. Florida college students need to know there are options such as bankruptcy if they get in over their heads. Most if not all of a college age student’s debts can be discharged giving a student a financial fresh start with which to responsibly rebuild his or her financial life with a clear understanding of how to avoid the same mistakes in the future.

Source: jacksonville.com, It’s Your Money: Talk to your college student about debt, No author, Dec. 17, 2013

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

When Does Bankruptcy’s Automatic Stay Go Into Effect?

Filing for bankruptcy can be a daunting experience, but it also provides vital protection for those in financial distress. One...
Read More

Should I Close My Bank Account Before Filing for Bankruptcy?

Filing for bankruptcy is a significant decision that requires careful planning. One common question people have during this process is...
Read More

Can Filing Bankruptcy Stop Repossession?

Facing repossession of your car or other valuable assets can be incredibly stressful. When you’re struggling to make ends meet,...
Read More

Are Bankruptcies Public Record?

When individuals or businesses find themselves in financial distress, they may consider bankruptcy as a way to manage or discharge...
Read More

How Can I Protect My Assets During Bankruptcy?

Filing for bankruptcy can be a challenging decision. Many people worry about losing their assets during the process. In Florida,...
Read More

Will My Landlord Know If I Filed for Bankruptcy?

Filing for bankruptcy can be a daunting decision. If you’re a tenant, you may worry about how this decision affects...
Read More

Should I File Bankruptcy without a Lawyer?

Filing for bankruptcy can be a daunting process. Many people wonder if they should tackle it alone or hire a...
Read More

How Does Bankruptcy Affect My Credit Score?

Filing for bankruptcy is a significant decision. It can have a lasting impact on your financial future, especially your credit...
Read More

Can You File Bankruptcy on a Title Loan?

If you're struggling with debt and have a title loan, you may wonder if bankruptcy can help you escape that...
Read More

Will Bankruptcy Affect My Security Clearance?

When you're facing financial difficulties, the prospect of bankruptcy can be daunting. This concern is amplified if you hold or...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.536.4468

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 328-6667
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 274-9155

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 492-2663

Map And Directions