So... today i started to finally go over my situation... and here's where I'm at... Any help or advice would be appreciated, I'm a little lost and overwhelmed and not sure what's the best way to approach this...
I'm about to take a 6-month break from dancing to work a temporary vanilla job (minimum wage)... and then I'll probably go back in January (i know, unwise timing, but due to circumstances this is what i have to do right now).
I also have some debt from student loans... (about $18k)... I somehow have missed out on paying taxes for the past 3 years (kept meaning to, but never got around to it, or always happened to be broke/ just scraping by). I paid off my student loans from college the first time around, using dance money, so i thought i would have excellent credit score... but now its really bad again. Like mid-500s bad.
I have a school bill for an outstanding amount of approximately $450 in misc fees... and some attempt to collect $1000 for medical bills... i dont even know what that is exactly but that I wish they would go away. I dont mind paying the school one if i have to... but the medical bill one didn't even spell my name right, so im skeptical whether or not its even real...!
I dont have any credit cards open. Closed the one I had at BoA a while ago, tried to get one at Chase but was rejected when they did the background check. Not sure what to do next to build credit.
Someone used my information to open a fraudulent account(s) with T-mobile and I've been getting slammed by debt collection agencies for the past 3 years. I moved to another state since the thing occurred (in 2009), so I couldnt file a police report over the phone or online. It was only this month that i got to take the 8+ hour bus trip over there this month and i FINALLY officially filed the report but i still havent talked to debt collectors about it yet.
I managed to save up an extra $5000 in cash and i'm thinking that the best way to invest it would be to ladder CDs?*
Needless to say my financial life is kind of a mess but at least I have this extra money right now. I'm stressed out about dealing with everything but its better that i have an extra few thousand, than not having it at all. I wish I could just keep dancing, I really need the money, but due to certain circumstances i just cant right now, i have to wait until next January.
Tomorrow I'll call the collection agencies and hopefully finally get closer to resolving that... but i dont know if it would even make a difference with the damage already done to my credit score.
P.S. I dont actually know what it means to "ladder CDs" besides that i'm putting money into these bank accounts at different intervals in time and then they'll come back out as more... but I was trying to read up on how to invest smart and that seemed like a good thing to do.
p.p.s I already started a Roth IRA years ago so there's that as my emergency lifesaver... I've got some money in there, bought some mutual funds, not gonna touch it for a while.
Would really, really appreciate any feedback or advice....
Thanks in advance!



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