The 10 Jobs with the Fastest Pay Growth
Low-wage jobs saw a strong annual boost in pay.
Question: I have got $12,000 in student loans, and coincidentally, my girl has $12,000 on her credit cards. So we’re both kinda screwed, but at least she has lots of clothes and tech, while I got a college degree and a job where I can’t use it.
(I was a PR major but can’t find work in the field, so I’m working as a substitute teacher.)
We want to get married, but we’re so loaded with debt, I’m thinking we should just declare bankruptcy before that. My girl thinks we should do it after the wedding, so we can have an amazing ceremony. Which way is better?
— Anton in California
Before you propose to your girlfriend, can I propose another solution?
First, let me talk you out of rushing right into bankruptcy. Student loans are notoriously difficult to discharge in bankruptcy. It can be done, but first you need to read this long, detailed Debt.com article called, Are Student Loans Forgiven in Bankruptcy?
More likely, you won’t be able to get rid of your student loans. A bankruptcy court will simply put you on a payment plan. This assumes you have public student loans. Private student loans have their own bankruptcy complications.
If you’re thinking right now, “Wow, I didn’t realize student loans were so complex,” I don’t blame you. Unlike a car loan or mortgage, student loans are so very easy to sign up for. Alas, they’re not so easy to pay off.
Going back to my friend Steve Rhode for a moment: The Get Out of Debt Guy is known for his harsh opinion of student loans in general. Here he is, in my office for a visit, ranting about them…
Now that Steve and I have (hopefully) convinced you to try something else first, my suggestion is much simpler than bankruptcy: Call 1-888-472-0365.
You’ll reach a Debt.com specialist who will walk you and your girlfriend through specific programs to relieve your debt. For her, it might be a debt management program, which could possibly reduce her monthly payments by up to 30 or even 50 percent.
For you, if your student loans are indeed public, you qualify for government programs that can greatly cut your monthly payments. You might even be eligible for student loan forgiveness. The Debt.com specialist will see if you meet the qualifications.
Let me leave you with three points, Anton…
Make that call now, Anton. I recommend you put it on speaker and have your girlfriend present when you speak to our specialist.
Email your question to email@example.com and Howard Dvorkin will review it. Dvorkin is a CPA, chairman of Debt.com, and author of two personal finance books, Credit Hell: How to Dig Yourself Out of Debt and Power Up: Taking Charge of Your Financial Destiny.
Published by Debt.com, LLC Mobile users may also access the AMP Version: Ask The Expert: Declare Bankruptcy Before Or After My Wedding? [video] - AMP.