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.