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Hey everyone, I just joined the community today, ready to tackle my debt! A little about me, I'm 26 years old, currently unemployed and have roughly $38,000 in debt. $30,500 of that is school loans, the rest is medical bills and I'm also paying monthly for a voluntary reposession. I have not paid on anything aside from the repo for a few years (I know, that's REALLY bad but my reaction to my debt was to ignore it unfortunately :( ). I've been trying to read a lot of "how I got out of debt" stories for motivation but only got angry. They all seem to be from individuals who have a high paying job or items they can sell or a 401k they can cash out to help widdle down their debt etc. What about someone like me who when she has a job usually lives paycheck to paycheck, has already sold anything of value, no 401k, no rich family member to borrow from? Are these debt consolidation companies really legitimate? I definitely feel overwhelmed and obviously being without a job I have no income to even start fixing my situation but when I am employed, does that sound like a good option for me? I recently moved to an area of Florida that has pretty bleak employment options, most of the jobs are about an hour north or south of me and thats just not an option considering gas prices and my 23 year old car. Is getting out of debt really feasible for someone making $10 or under? 

Sorry for the essay, I'm finally ready to get this out in the open and really get it under control. Thanks for reading!

Your situation is indeed very bad. There are legitimate debt consolidation companies in your area. However, they won't be able to help you out if you're unemployed. You've to get a job to get out of this situation. Another thing I would like to add is that you can't include voluntary repossession in debt consolidation. 

Sub: #1 posted on Tue, 01/08/2013 - 21:17


You also cannot include student loans in debt consolidations.  What type of loans do you have?  Federal or private??  Their status?

Sub: #2 posted on Sun, 01/20/2013 - 05:43

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