Am I making a good decision?

[Clover329]

OK, so, I've been going through this process for about 4 months now and I've had a lot of time to think about this, but I would like some opinions and reactions from you all about my situation. Mainly to get an outsider's opinion.

Here is my situation:
I have been troubled with credit card debt for the last 9 years (since I got my first card). I used the cards as a means to support a lifestyle that I didn't have because I wanted other people to think better of me. I have since realized this and am working on it with my therapist.

Over the years, I have racked up quite a bit of cc debt, however, in my "wise" young age, I took out private student loans to pay off my cards. I know, I know, the PSLs are protected from BK. I was ignorant to that fact when I took them out. So, now I have roughly $52k in PSL debt. This figure includes about $4k of legit school expenses, cc payoffs, and interest.

On top of this I have about $22K in credit card debt and my car loan. I will be reaffirming my car loan because I will still need my car for the next 4-5 months, but I will be selling my car when I move.

I am in the process of finding a job in Boston (I'm in CT right now) so that I can go to school starting in the fall. My main reason for filing was because I am making alot of life changes right now and I want to start off fresh in a new city. I'm overhauling my whole life.

I don't really feel guilty about filing for BK mainly because I'm not getting rid of ALL my cc debt because alot of it is tied up in the PSLs.

So, with all that, if you were in my shoes, what would you do?

[pcn]

So it sounds like you are filing ch 7 over 22k in debt?

[spearmint]

Are you saying you used the student loans for things other than school fees and books?

[Clover329]

Yes, I filed chpt 7.

Yes, I used private student loans to pay off cc debt.

[jessegirl]

Yes, I filed chpt 7.

Yes, I used private student loans to pay off cc debt.

You know it seems like you have learn your lesson. You are doing the right thing. You will be free of the cc debt. As far as the student loans, jsut chalk it up to young and not thinking clearly. I would be doing the same thing if i was in your shoes. New fresh start, new job, new state.....Good for you!!!!!!!!!! Goodluck..

[Clover329]

You know it seems like you have learn your lesson. You are doing the right thing. You will be free of the cc debt. As far as the student loans, jsut chalk it up to young and not thinking clearly. I would be doing the same thing if i was in your shoes. New fresh start, new job, new state.....Good for you!!!!!!!!!! Goodluck..

Thank you Jessegirl! I appreciate the validation.

[StartingOver08]

What I would do in your situation, since you have turned over a new leaf and started a new life is make room in your budget to pay off the student loans. Make them a priority because, as you now realize, they are not going away. $52k in student loans is a chunk of debt. Now that you are in the process of getting rid of the other debt - it should be easier to address the student loan problem head on.