Should I consider filing?

[franks112233]

Well a lot of good information here. I'm going to have to really take a long hard look at things and figure out the best road to travel with this. I appreciate everyone taking the time to present me with opinions on both sides of the matter. I was able to return a somewhat recent purchase for 1660.00 so that was nice to take right off the top.

In regards to college, I live right up the road from my state school. I've also been offered a GA position, so I could pretty much get my masters degree for approx 10k, which overall is pretty affordable.
Plus those loans are based on income during repayment, so that is also nice.

After doing some hard looking/adding up, its around 19,500 in CC debt. Certainly an overwhelming number to stare at and figure out what to do with. The whole situation is pretty crazy, if I could go back four years I would really slap myself.

Lots of things to consider..

[TXskyblue]

Well a lot of good information here. I'm going to have to really take a long hard look at things and figure out the best road to travel with this. I appreciate everyone taking the time to present me with opinions on both sides of the matter. I was able to return a somewhat recent purchase for 1660.00 so that was nice to take right off the top.

In regards to college, I live right up the road from my state school. I've also been offered a GA position, so I could pretty much get my masters degree for approx 10k, which overall is pretty affordable.
Plus those loans are based on income during repayment, so that is also nice.

After doing some hard looking/adding up, its around 19,500 in CC debt. Certainly an overwhelming number to stare at and figure out what to do with. The whole situation is pretty crazy, if I could go back four years I would really slap myself.

Lots of things to consider..

I have to ask, even though it's not really relevant - what did you buy for $1,660 that you returned? If you don't want to answer, I get it.

About getting your master's for 10k... That's 10k you don't have. So you'll have 20k in CC debt and 10k in student loans, and that's only assuming you somehow don't accumulate more debt in the meantime. Your undergrad doesn't seem to be in demand considering your income situation. What is the master's in? Is it something in demand where there are lots of jobs available that pay well? You should do a systematic cost-benefit analysis about it, trying to be as unbiased as you can be. That prejudice will unduly influence your CBA if you don't acknowledge it.

[franks112233]

I have to ask, even though it's not really relevant - what did you buy for $1,660 that you returned? If you don't want to answer, I get it.

About getting your master's for 10k... That's 10k you don't have. So you'll have 20k in CC debt and 10k in student loans, and that's only assuming you somehow don't accumulate more debt in the meantime. Your undergrad doesn't seem to be in demand considering your income situation. What is the master's in? Is it something in demand where there are lots of jobs available that pay well? You should do a systematic cost-benefit analysis about it, trying to be as unbiased as you can be. That prejudice will unduly influence your CBA if you don't acknowledge it.

It was just some camera equipment for my business.
Yeah I see your point about the masters. But what I'm saying is repayment on student loans is based on income, so I won't really have to worry about that until I actually get a job I need. Its business administration, so I figured it would be general enough to apply to a lot of jobs around here. Even if I don't get the masters though, its going to be tough to climb out of that 20k.

[bluediamond2077]

It was just some camera equipment for my business.
Yeah I see your point about the masters. But what I'm saying is repayment on student loans is based on income, so I won't really have to worry about that until I actually get a job I need. Its business administration, so I figured it would be general enough to apply to a lot of jobs around here. Even if I don't get the masters though, its going to be tough to climb out of that 20k.

Masters in my degree pay about $17,000 more a year. The federal government hires right from the masters program of my degree. I wouldn’t give too much weight from those who have a degree and are bashing it saying " I could have done it with out a degree". For some this maybe true but for most it’s not. The fact is most of the ones with a degree who are now saying they didn’t need it would be working at wal mart.

The numbers show it that having a bachelors or masters you will do much better in life. Unemployment among the ones with a degree is almost non-existent.

If your in college your lucky because they will have nothing to go after. I've been sued 4 years ago and to this day they have not got a dime due to the fact I make nothing and have been living on student loans going to college full time. Also with the debts being so far back i'm sure no one is going to object to my discharge. So in one years time i'll have the CH7 done with, I'll have no debts other then student loans and we will be earning $110,000 .