I have done everything I can to reduce my spending, and my interest rates (on unsecured debt), yet there are still so many demands on my income that I am still unable to meet my monthly obligations. (My VA Compensation was just "reduced" making my problems even worse). Due to the nature of my current "graveyard employment", I have been experiencing a great deal of trouble finding a second job.

Must Bankruptcy be my only solution? I entered into a Debt Management Program (to have interest reduced), 4 months ago. Until then, I had not even had a "late payment" in over 8 years (no longer the case thanks to the DMP).

I was forced to file Bankruptcy in 1999 (so it is about to be removed from my credit file), due to my divorce and excessive student loan payments.

Now I am about to "start all over again" due to my inability to obtain reasonable interest rates on my debts.

Can anyone suggest alternatives to Bankruptcy?

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Additional Details
When I took the Means Test for Chapter 13 bankruptcy for Astoria, NY, it showed my disposable income as being much higher than it actually is. This is because they didn’t deduct my 401k contributions or my student loan payments. If I file for Chapter 13, will I be expected to stop contributing to my retirement fund and stop making student loan payments for five years in order to repay my debts?

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00/mo student loan payments, WHAT DO I DO…23yr old fresh out of college?
Anyone have any good suggestions on what to do with a 00 a mo. student loan payment? I cant lower it at all, The only thing I can do is pay interest at a low of 0 a month. My loans are through Sallie Mae. I haven’t payed in only 1 month and they are already trying to report me to a collection agency. Any suggestions from people in my boat? Mind you, im 23, earned my bachelors (Graphic Design) in 3 years and im 5,000 dollars in total debt. I lost my full time job and now work 4 part time jobs just to pay my rent/bills/food, I cant afford these payments anymore or im going to become homeless. Iv been making these payments for about a year now.. What more can I do?

The college system seems so flawed, we go to school to be taught to work to pay off your student loans the rest of your life. I know there are so many people in my shoes right now that are just skipping out on their payments, WHICH I DON’T WANT TO DO.

When going to school ( The Art Institute ) they gave me only two options for loans, Sallie Mae and Federal. It seemed the longer I was in school the higher the interest rates went. They told the students that the repayment plans are easy to work with and not to worry. It was a little over 00 a class which I took 5 every Quarter and 00 for dorm living. The classes when all year around for four quarters so around ,000 a year plus interest. I saw my debt racking up while I was going there but the fact the school made it seem it didnt matter how much you took out the repayment plans could work with you.

I dont know what happened but Sallie Mae my loan company went bankrupt half way through my schooling and from that I think they might have changed what they offer for repayment. I would do anything for lower repayments.

I’M NOT LOOKING TO BE RIPPED APART IN HERE ON WHY A CHOSE SUCH EXPENSIVE SCHOOL… ( I went to the Art Institute for god sakes ) at the time it seemed no mater what the price there were repayment options to work with your income… which as of recently to find out they do not. I JUST WANT TO SEE IF ANYONE HAS ADVICE ON WHAT I COULD DO TO LOWER MY PAYMENTS.

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are you one of the millions in the world who have filed bankruptcy because of over spending? bad money management? It seems legit enough for a business to go bankrupt, but an individual who has just been on one too many shopping spres? I dont really agree. This stems from a particular person that I know who has filed 2 times. Not only was she unable to control her spending one time, she failed 2 times, and still gets offers for new credit cards within months of filing. Now, if you have filed once and have shown that you cannot support the line of credit that was given to you then why would companies offer you more lines of credit? I cant get any type of credit due to late fed student loan payments. Im in default, and they dont budge! But yet, get a few credit cards for personal spending and hey if you cant pay for it, file bankruptcy and we will give you more credit you cant afford! I cant file bankruptcy on the student loan, and because Im behind it will stay on my credit report until

Technorati Tags: bad money, credit cards, credit report, money management, one of the millions, shopping, stems, student loan payments, who have filed bankruptcy