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My Debt Situation - advice please

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    Originally posted by nore View Post

    My wife has staggering student loan debt that she acquired from some really tough times going to school just trying to survive in a bad situation prior to me being on her life. She won't be able to work for atleast two more years. Totall is roughly 90k currently set to lowest possible monthly payments of $760 a month. Unfortunately due to filing taxes jointly they base the payments off my income. Any suggestions on getting that lowered for the time being?

    I was in a similar situation: solution is to file separately. You lose certain benefits but they're nothing compared to what we save by filing separately.


      I Had My Share...

      When I got my first apartment, I had 5 credit cards that amounted to about $7500. I could not afford the monthly payments anymore, so i went to a loan company, and consolidated my credit cards to make 1 payment each month. Hopefully, this helps.


        I would tackle CC debt and car. You have a lot in car payments. If your wife isn't working can you go down to one car? However, those who say just sell the car, well I never found that to be very easy so you may be stuck with those. So, i would really focus on paying those CC's in full, one by one. Then, i would close them until i only had one card left. And, i would try to live as simply as possibly, brown bag lunchs, no eating out, no vacations, etc until thos are taken care of. I would probably just keep the cars as is and suffer the monthly misery to reinforce that i never, ever want to get into that much car debt ever again.