Oh Boy!!

Welp, this morning I basically signed my life away. Al tho I am not financially ready I have no choice but to start repayment on my student loans. Please all of you that have student loans get rid of them as fast as possible. If you have to work 2-3 jobs do it. Eat rice and beans, what ever it takes. Please do not make my mistake of burying head in sand because income was too low. Don't fall into the deferment trap. I am paying dearly!!

So now what am I going to do. My lay-off still continues but my income will be the same; the benefit of two jobs. Should I get a third? Something to consider if I honestly thought I could get a third job. Economy here is not good so that may not be an option. Beside the usual methods of reducing household cost etc, I'm going to have to try and increase my on-line income as well as picking up as many extra hours as I can handle. I also recycle aluminum cans for "play" money but will now put that toward household bills. Every little bit will help.

I'm going to try to not panic. I think that's important. In the long run I will be the one to benefit. It's just the timing of this that sucks. I have been negotiating for a few months trying to get a reasonable payment based on my budget but I lost that battle. I will be required to pay twice what I think I can afford but again that is my own fault not the agency I am dealing with. They want their money and I can't blame them on that point. I will just have to deal with it.

On the bright side I will be paying down a debt (a very large debt-lol-$66,000). Also after 9 months the collection fees of $14,000 will be removed returning my debt to $51,000 of which $3,600 will have been paid. I will also be removed from default status and have access to any IRS refunds (a moot point since I don't get much back). I will just have to hang tough for a couple months.

I will be posting much on this as I go, mostly for moral support and to prove I can do this. Wish me luck!!