What is a smart way to be able to get debt free.
I have two boys who went to college and we have 6 loans out there now all wanting there money, i am doing my best to catch up and pay on them , but it leaves us has parents and my sons with NO money to live on when we try to pay these and our other bills . * I need some advice soon.
Unfortunately you options are limited. I’m assuming that you have parents loans, if not tell your children to contact the lender and ask about the Income Based Repayment (IBR) program. Hopefully these are government backed loans and not private loans.
In the face of not being able to adjust your payments, the only other option is to lower your expenses, increase your income, or a combination of both.
Please post your responses and follow-up messages to me on this in the comments section below.