@Liumingke: Why the "Ha.Ha."? What's funny about it? I think you're right.

Agree with Liumingke, cut up all of your credit cards now. You are maxed out, bet there will always be a temptation to use them again when you have paid some off. Don't the interest rates are high, very high.

If you don't believe me, just work out how much a 1000 rmb pair of shoes really costs by the time you have paid them off (2 years).

I only use union pay now. Much easier. If I do use the CC I pay it off at the end of the month. Banks don't like that.

Cut them up and then cancel them as soon as you are all paid up. The temptation is to strong to use them again. You have already shown the credit card company that you are an easy 'money maker' for them. They will keep on tempting you even if you cancel them.

my budget every month including rent and cost of living is totally 2200rmb, even i try my best to figure out every way of saving money, i can save merely 800 at most. i am so ebarrassed to ask my friends help me, even some of them have depost. i only want to find some part time job like writer or painter which i could do when i work. it is the last way to slove the problem that i turn to my family and friends for help.

@ Zhang Lijuan. If you can only save 800RMB/month then what did you think you were doing spending 53,000RMB on credit cards?

That's 5.5 YEARS of your disposable income!

What also amazes me is how stupid the banks were to give you credit cards in the first place!

Don't pay it back. Just see it as a gift!

Note: don't do this if you are planning on getting a mortgage in the next 10 years.

@Hotwater
Young people(especially) rarely think of the consequences of their actions until it bites them in the ass. Don't be too hard on her. This is one of those 'learning' moments of life.

@Zhuang
My advice is this:
If you can get your parents help I would do that first. Forget about 'saving face'. This problem will only get worse if you don't do something 'now' and 'immediate'. The interest rate alone will double your debt.

Be honest with your parents when you do tell them and ask for help. Show them a plan to repay them. Don't just say: "I promise to pay you back". Good Luck!

Expensive learning moment! I do have some sympathies but am still amazed at the amount, especially as I'm always told the Chinese people are big savers and careful with money.

I do know what it's like to be in debt. Mine were 150,000rmb at the time.....but I earned 450,000rmb/year (lived in the UK at that time). Took me a year of having no spare cash & taking advantage of an interest free balance transfer credit card to clear the debt. China doesn't have those yet as the population here is still going through the growing pains of credit card usage.

The advice given has been good. Ask family for help & then pay them back. It'll save a small fortune in interest payments

yeah, the situation is still in control, luckly i have paid off the credit card with 22000rmb, then i will apply for installment of two years for the card with 19000rmb. i will ask my company lend me salary with 6000rmb,and deduct 800rmb every month, and i will ask mom lend me 7000rmb to pay back, hope she woul not scold me seriously.

thank all of you sincerely!
thank you, guys! sincerely.

*waves* matt.