This is a tough one. I am 35 years old, single home owner with a very nice low mortgage of $650 per month. I have some equity, but my credit is not good enough for a refinance to get money out.
I went to flight school and accrued currently $113,000 in student loan debt. I also have about $9000 in another student loan debt. Both are private loans not fixed interest. I have other student loans that are subsidized or unsubsidized equalling about $18,000. My Credit card debt is currently around $23,000.
I think that is it other than my mortgage. I lost a great job in 2008, and am currently doing contracting work, making about $20 an hour. I have made many poor choices in my past and have finally made the choice if I don’t do something now I will not have a future. I am allowing my debt to mentally hold me back from achieving the great things in life I had once hoped for. I need specific help to get my life back on track and to find out my best options for digging my self out of this hole. I have always had a hard time with budgeting and spending money and need to take some drastic steps to change my life. I have almost lost hope that I can recover from this. I am ambitious and creative and can achieve anything if only I could manage my finances. My credit is still in good standing, however I will not be able to pay back my flight school loans when they are due. I just don’t know what to do.
Can you please help me find a way to financial freedom. I am willing to try anything and need personal coaching on how to make this happen.
I had the following questions that I’d like for you to answer before I can answer your question. Please post your answers in the comments section of your question. I’m looking forward to helping you for free.
- Can you afford any money each month towards this debt?
- Are you currently working as a pilot or in aviation?
- Who is the lender for the $113,000 in student loan debt?
As soon as you can post the answers to my questions above I’ll be able to help.
If any reader wants to offer advice in the comments section please feel free to participate.