Time to pay your debts

A wise man named Balki Bartokomous once said, "You can charge and charge, but sooner or later, you have to pay the bills." Well, apparently most of us missed that episode of "Perfect Strangers" because we're running up our credit cards like we're Patrick Ewing set loose in a strip club. We need to slow down and remedy this problem before it gets any worse. \nIf you are like me, you would rather be left in a room with Ralphie from "The Sopranos" and a cheese grater than open your next credit card statement. Nellie Mae, a student loan provider, said the median credit card balance for college students is $1770 (a 43 percent increase since 2000). And 21 percent of undergraduates have balances between $3,000 and $7,000 (a 61 percent increase since 2000).\nThe combination of college students and credit cards is an extremely dangerous mixture and is even drawing comparisons to Red Bull and vodka. Nellie Mae also said that graduating students have an average of $20,402 in loan and credit card debt. That's not going to be easy to pay off when you're out on your own juggling bills for a car, house, Dr. Kevorkian visits and furnishings. \nHowever, your predicament is not solely your fault; some of you are in debt because your parents pulled a Girls Club and failed miserably. They should have been a better source for financial information and educated you more about the dangers of excessive credit card use. In addition, the providers themselves have deservingly caught a lot of flack for pushing their cards onto financially handicapped students. Students are overwhelmed by offers sent via mail, flyers stuffed into their bags at college bookstores and tables set up on campus by credit card companies enticing students with free junk. I guess the only way to avoid this barrage is to barricade yourself in your room for the rest of college. This really isn't that unattractive of an option now that "Grand Theft Auto: Vice City" has been released. \nSo what should you do if you are already submerged in debt? Well, you could attempt to kidnap Posh Spice and hold her for ransom, or you could try something less frowned upon by our judicial system. Dennis Meunier, the vice president of United College Marketing Services said, "Try to consolidate the debt onto the card with the lowest interest rate and then work on paying down the balance. If it's not possible to consolidate the card debt, focus on paying down the balance on the card with the highest interest rate first."\nAnd don't contemplate skipping town either. Doug Christie has a better chance of using the bathroom without his wife's permission than you have of escaping the grasp of your charge card provider. A disgusted senior, Mike Terkhorn said, "No matter how many times I move, Sears manages to find me." It appears that some of us may just end up having to lock all of our cards up in an inaccessible place (so your sister's pants would not be a good hiding spot). \n I know, I know, you're more likely to be at opening night of "Half Past Dead" than part with your charge cards. I'm just asking you to relax. Use it sparingly and always pay your bill on time. If you don't, your interest rates will skyrocket, and you'll be putting your credit standing at risk. M.C. Hammer might even get a loan for a new car before you do.\nIf you still can't help yourself, then go ahead and keep charging. And when Visa hunts you down, just take a page out of Winona Ryder's book and tell them you are playing a person with credit card debt in an upcoming film and the director told you to do it for your role. That seemed to work out pretty well for her.