Where do I go now?

November 24th, 2008 by Questions


My question pertains to what I should do in order to deal with my current debt load.

I went to community college from 1999 until 2002 to get a degree in web design. The student loans for this amounted to $15000.

After getting out of school, I got a job at a local call center where I worked for three years. During this time I build up $15000 dollars in credit card debt.

I left this job due to work related stress issues and moved across the country to find a better job. During my time there, I was unable to secure a job that payed well enough to cover my expenses. I needed more eduation in order to get into what I wanted, but was unable to afford it.

Last year I moved back to my home town and have managed to stabalize my finances to a point where I can start to make payments on some of my bills. I am also prusing my own studies at this time to try and improve my education so that I can get a better job to help pay my bills off quicker.

I would like to go back to school because this would get me into the field that I would like to get into quicker then my own self studies. However, I do not believe that I can get a student loan to fund this.

At this point, would it be better to simply delcare bankruptcy and clear up my consumer debt or should I continue on how I have been in hopes of being able to get a better job in the near future that will allow me to afford my bills?

Posted from: Nova Scotia


One Response to “Where do I go now?”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

This is a difficult question to answer without looking a things in more depth. Although, I rarely suggest a second bankruptcy if there is any possible way to avoid doing so. A second bankruptcy is more difficult than a first and has a significantly greater impact on your credit than a first.

The other thing that could make a big difference is the type of studies you are “prusing” on your own. Is this correspondence classes or something different?

Either way you would need to contact a local trustee as more background / information would be necessary to help you find the direction you need.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)