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No Way Out Of Mess. Wish I Had Never Gone to School. I Have Nothing to Offer To Anyone – Lisa

“Dear Steve,

I am currently $96,095.00 in student loan debt and it is quickly increasing because of the interest. I was laid off this past June. With having my mortgage and utilities I have little left from my unemployment check to make the payment of $724.00 per month. I have very little hope right now. I feel my life is worthless.

I have nothing to offer to anyone. I too have thought seriously about ending my life. There is no way out of this mess. I wish I had never gone to school. It wasn’t worth it to me. I went to school thinking it would increase my job opportunities but instead the job that I got wasn’t enough to keep up with the payment and to survive. I really hate my life right now. My advise to anyone thinking of getting a loan for school …..Don’t do it. go part-time pay cash. It may take longer but at least you know after its said and done you won’t be a slave to the loan and thinking of suicide like myself.

Is there any hope for someone like me ?

Lisa”

I asked my friend Mike Killian to answer your question for you. I wanted to make sure you got an answer as quickly as possible as I’m a bit backed up at the moment. I’ll be watching the comments on this question and be around to help if you need me.

The Answer

 

Dear Lisa,

My heart goes out to you and my first reaction addresses not your financial dilemma but your comment, “I have nothing to offer to anyone.” Do you have any idea how many will read your advice about student loans and like me their heart will go out to you and they will heed your words. Lisa in just this simple communication you have offered such wisdom to others as to allow trumpets to herald and choirs to sing. None of us ever knows the value we serve to others.

Equally important are your comments; “I have very little hope right now. I feel my life is worthless…. I too have thought seriously about ending my life.” Please Lisa, if these thoughts persist, seek counseling immediately. And financial counseling may not even be as important as pastoral or psychological counseling. Right now you are overwhelmed with financial concerns and I understand that. But I hear problems far greater in lack of self worth; and these problems far outweigh mere concerns of crushing debt. Please Lisa, seek professional assistance in counseling.

Concerning your debt. Your basic question was, “is there any hope for someone like me?” Of course there is. First of all there is no such thing as debtor’s prison so we can eliminate that fear. Secondly I would recommend a book to you, “Take Control of Your Student Loan” by attorney Robin Leonard from Nolo.com. I just happened to notice as I put the book down, “If you feel overwhelmed by your student debt, you aren’t alone.” It goes on to offer a myriad of idea to take control with advice, forms, and instruction.

Additionally it may be wise to contact a debt counselor and see if anything can be done in the line of a debt management program. I also recommend you talk to a bankruptcy counselor. Initial consultation is usually free. And though student loans are not forgivable in bankruptcy, other debt maybe and this could allow you to gain some breathing room and a fresh start.

The bottom line is to take action and fight the forces set up against you. When this has all past… and it will pass in time, just think of the wealth of knowledge and experience you can offer others as you have already done in this communication with us.

Lisa, please accept my sincerity of heart along with my prayers for your well-being. And please let us know how you are doing.

Sincerely,

Mike

If you have a credit or debt question you’d like to ask just use the online form. We are happy to help you totally for free.

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About Mike Killian

Mike Killian
Mike Killian is founder of Learning Credit and Debt Management. He has been writing and teaching about credit and debt management issues for over 12 years. His articles have been referenced by various members of the media, including MSNBC and The Motley Fool. Mike has also offered debt elimination seminars to businesses and community colleges for many years. He has an MS in counseling and is a nationally certified as a Personal Finance Counselor. Mike can be found at LearnCreditManagement.com/.

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