Graduated with Private Student Loans. Now Married and Pregnant. – Addrienne

“Dear Damon,

I graduated college in 09 with private as well as federal loans. The same month I grduated college I was also married and then shortly after, I found out I was pregnant. I was unable to find a job, and because of that we were unable to pay on my loans. I recently found a job but only part-time. Some of my loans have gone to collections and some are in defferment. I am 28,0000 in college debt with no credit card debt. Now my hubbies debt….We have been going back and forth to court for part custody of his daughter and the bill is 20,000. He also has no credit card debt. We do not own a home, we rent. Our cars were taken. And I just found out I am expecting a new baby.

I now have a part time job that pays only 800 (take home) a month. My husband makes 3,4000 a month (take home). What are some steps for us to take to gain a peace of mind? Also should I quit my part time job because day-care for two under two will far exceed my monthly pay 🙁


Dear Addrienne,

I don’t have a full picture of your finances but judging from the fact you were not able to pay your car payments, I can assume that you don’t have any money available to pay towards your student loans or the 20,000 debt which I assume is legal fees.

The first thing I would do is look into the income based repayment program (IBR) for your federal student loans. Then you are going to need to contact the attorney on your custody case to see if anything can be worked out. If not, you may have to consider filing for bankruptcy.

Regarding you quitting your job. Do you have any other alternative for child care? A relative, perhaps a neighborhood daycare? If not and your only alternative is to pay more per month than you can earn, then I would quit the job or better yet try and find a different job that allows you to work opposite hours of your husband or find some work you could do from home. Any extra income that you could bring in would certainly help.

Damon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at

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