Yes, he did stop using credit cards. (Yes, he is a "he")
haha!
He has two years of law school down and one to go. He can't work due to his school situation, so he is COMPLETELY living off student loans. They only last him through the school year.
Last summer, he used his credit cards a lot for food, gas...bills..etc...and there already was a high balance on them.
Now he has about $20,000 in CC debt. When he graduates in May 2009, he will have $120,000 in student loans.
He found a job for the summer (not paying a ton - $12.50 an hour), so he will not have to use his credit cards to live. He is having trouble making the minimum payments on the cards (there are 4).
I'm wondering...do you think it would be a good idea to consolidate his credit car debt through a credit managing program this summer so that he is only paying one payment throughout the next school year? He would then have one year down on his new debt management plan when he graduates.
He doesn't use the cards anymore - so he would be fine with closing them off and not using any new credit.