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I need advice on life changing events that are about to happen...Please give opinions.

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I am 31 years old and have a Master's Degree, I owe over 80K in student loans. I have about 25K in credit card debt. I got in over my head and borrowed too much and blew away too much money when I was younger. I recently got a job with the feds here in the States it pays almost 40 a year. I hate the job. Its not what I want to do in life. I want to teach or go into different agencies where the work interests me. Or hate a job but make good money in it. But this job pays the bills. The bills are currently 60 percent of my paychecks. I am seriously considering bankruptcy. With the way the economy is going, I cannot find a job that pays 60 or more, which would help very much. I can't get a second job right now because I spend 10 hours a day learning this one.


Debt that I have accrued has done the following to me as a man and as a person;



I am back in my parents home cause I cannot afford a nice apartment, I always dream about having a nice place to live but just cannot do it right now


60 percent of my paychecks goes to bills, this has made me not buy anything for myself that is worthy (Don't even have a fitting suit)


I don't have a girlfriend, i don't have a wife, I don't have any prospects, because I don't have the confidence of searching for one without any money. Where the hell would I take her? My friends getting married has hurt me emotionally, I feel my debt has contributed to lack of a love life.


I don't have any assetts, just a car. No house, no nothing. Because of debt, I cannot invest in my 401 k at work. I need money now


I have spent all my 20s in the same city. Only went out of town twice, but now that I want to travel, I can't. I don't have the money. I dream about places I could go but just cannot. So I keep saying "next year" but it never happens.


My life is dull, very little hobbies other than the gym. Debt has taken everything from me, including the opportunity to get ahead.


If I declare bankruptcy, I would only owe on student loans which I am happy to payback. If I don't declare bankruptcy, I will forfeit over 75 percent of my income, which is of course impossible.


I have tried to talk to creditors and consolidations and nothings worked.



So, I live at home, have nothing under my name, and have no companion with a job I hate. What would you advise? I could have a huge burden off my shoulders if I Bankrupt but how would that affect my future job search? All I want is freedom, a nice apartment, a new start. Sometimes bad things happen to good people, I just want to start over. Any thoughts? I can't sleep at night because I feel that this has taken so many years, so many things I could have done and accomplished. I don't know what to do.

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You spent money you didn't have back then, time to pay up. The way bankruptcy is now-a-days you have to pay things back and its worthless to put that on your record. I mean you'll be 10x worse with that on your record, you'll need a co-signer etc for things, it'll take you till your 50 plus to have decent credit. I mean your going to have to tough it out and see if you can get a better paying job.


See why people get married, kids or financial stability.

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Welcome to ENA. I am not too sure if this would help your current situation but it helped my mother GREATLY!


My mother had a lot of debt and was trying to get into a house. She had already decalred bankruptcy and began a new debt.


She was looking for a house that she could rent without the renters checking her credit and finally found one.


Through the process of looking, she met a guy named Mick that told her that he was in the same situation only 10 times worse and he went to a buddy of his that works for a company that helps you with your credit and your debt. The company is called Protect your rights. These people will write letters to your credit debt companies and try to get things pulled off your credit so they can raise your credit score. Some bills (if old enough) were completely taken off my moms credit.


It only cost my mother $267 for them to get started and now after only 6 months, her credit score is above average and thousands of dollars have fallen off her financial responsibility.


Here is the website. Find a local office by you or perhaps they can do it long distance. I don't see why not.


It's worth a try


link removed

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LOL my dad is kinda doing something like that. Basically writing letters to all them people I have problems with and I got a settlement of 100 on a 500 collection.


See it works! lol. A little persistance on trying to lower your bill works in almost any situation.


How do you think I got a 31k car for only 22k BRAND NEW


I had a capital 1 card for $500 dollars and with interest it was up to $967.00.


When it was sent to collections and the company called me I told them that I am unemployed (lie) and that all I had on me was a couple hundred dollars and that I was willing to give them every penny I had to protect my credit. I ended up paying them $157 and it was cleared off my record

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With all due respect, this is over one hundred and ten thousand dollars of debt at stake. There is no mickey mouse program that will solve that. I need very serious and intelligent information which will pretty much either deter or steer me into bankruptcy for unsecured loans.

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I have a lot of sympathy for you and I think it is unfair you had to borrow $80,000 to get an education. I can't believe the money the loan out for student loans..but anyway, you have my sympathy.


Do you have your weekends free ? The only thing I can think of is to get a weekend job and put that money straight into the debt. If you can earn $200 on the weekend that is $10,000 a year which will be reducing your interest payments. I think a second job is your only option I hear that lots of people are getting them these days just to make ends meet.


Blaze away now working a lot to pay down the debt to make it easier in the future.

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You almost sound like me except I still have yet to get my Master's (going soon) and I'm not in debt yet.


As for your situation...


1.) Life is short whether you want to hear it or not. Sure, there may be an afterlife which may prove your current life to be a proving ground, but regardless, why not try to get everything out of this life that is possible? What I'm saying here is that you're still young and I'm sure you have a lot to offer someone. So stop sulking (despite the fact that I do it CONSTANTLY myself) and get to start doing something productive. If you have hobbies, stick to them and make the best out of them.


2.) Despite the fact that you have no job and almost no money, you're an adult now and you should know, without a doubt, that money does not make the man. The cruel reality of this is that many people think it does. If you're in the Hoosier state, for instance, you're S.O.L., but regardless, you have to keep hope alive inside yourself that there may just be 1 person on earth that is meant for you. So get your a$$ outside and start looking for her by jogging, walking, hiking, walking around town, visiting the library, whatever... Stay away from the bars.


3.) It's time to hit up some employers with your resume and cover letter. Keep shooting for that better paying job. Start using your brain here because despite the fact that the economy is a joke, there's still a lot of money to be made. PM me for possible avenues...


4.) Remember the economy and world issues... Things are worse than what they would normally be.


5.) You have family. You have friends. Start using them for possible emotional support braces. If they love you, they'll be there for you.


Out of all of this, try not to get down on yourself man. I'm over here in Indy after being let go from my first career job only to realize that I now need to go back and get a Master's degree in something completely unrelated! SO, you're not alone in this mess in one way or other...


Later man.

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