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Recent Law School Grad Struggling to Pay The Bills. – Lisa

“Dear Steve,

-Recent law school grad, haven’t passed the bar yet so not working as an attorney
-Low paid job as a law clerk
-Don’t make enough to cover all expenses, which include, but are not limited to, 3 credit card payments (12k total,) 3 student loan payments, (total owed $250k)
-No health insurance and need medication totaling almost $300/month
-No family to help me

I’ve been perusing your website for the last week or so and found it to be very helpful. My situation may be a bit different than most people’s, considering my absolutely staggering amount of debt – close to $250k in student loans, $12k in credit cards.

I don’t make a lot of money and I’m drowning, I can’t sleep at night because I can’t pay my bills. Sometimes I wonder how much longer I can live like this. It’s humiliating and depressing.

The credit cards are my fault – but I maxed them out because I don’t make enough money. I would put groceries or gas on them and eventually they all got maxed. The student loan balance actually freaks me out less than the credit cards – because I plan to do public interest law and after 10 years of that, your federal loans are forgiven. I guess I’m just looking for some advice, and filing bankruptcy is not an option for me, because I have no one to co-sign on leases/cars/mortgages for me.. .how do I get out of this mess? Please help.

-Lisa”

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The Answer

Dear Lisa,

First off, tonight is the night for a full relaxing sleep. We can get to the bottom of this and resolve it one way or another.

I’ve got a plan in mind but need a bit more information.

Are you making student loan payments now?

Are these all government backed student loans or is some of it private student loans?

Can you give me a summary of your monthly income and how that’s spent for the debt? Just trying to get a grip on how much of your income is being swallowed in debt payments.

If you have not done so already, please read How to Get Out of Debt. The Honest and Unvarnished Truth.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Recent Law School Grad Struggling to Pay The Bills.   Lisa
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • AKLoneWolf

    I just wanted to say, you sound like you are on the right track and doing what most people strive to do:  go to school and work.  I also work as a law clerk and know its not much. Here is a hug (which only helps for a moment I know) but you are still heading in the right direction by asking for guidence and being frugal.

  • AKLoneWolf

    I just wanted to say, you sound like you are on the right track and doing what most people strive to do:  go to school and work.  I also work as a law clerk and know its not much. Here is a hug (which only helps for a moment I know) but you are still heading in the right direction by asking for guidence and being frugal.

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