Hello everyone, short time lurker, first time poster here in this subreddit. I've seen the occasional success story crop up on here, and the common theme seems to be the posters thanking this community for helping them get out of debt.
So now I come before you all admitting that I've reached my limits. I can no longer tolerate the $20,000 in defaulted federal student loans burdened upon me by my younger, dumber self a decade ago. I flagrantly refused to pay back my student loans in an act of defiance against the federal government, and now I'm paying for it. Now I'm tired of it and it's time to humble myself and ask for help from those who are more financially successful.
I'm currently an Assistant Retail Manager making $11.50 an hour. I'm turning 31 this year, and I live rent free with my dad in a paid off mobile home. My only real current financial obligation is my car insurance, which costs about $18 a month minimum to maintain, and has an overall premium of about $400. I get paid weekly, and up until this most recent paystub, was making about $400+ gross per paycheck. However this most recent paycheck was about half that, for the same amount of work. I haven't received any notices since starting the job, but I suspect I'm being garnished.
I don't have a very steady job history either, two years seems to be about as long as I'm able to last at a company before it all goes to hell, so I'm always scared to take on any major financial responsibilities because I'm always concerned that I could lose my job at any moment.
As you can probably tell, I'm horrible with finances and no good at making a budget, and need all the help I can get. I have no savings to speak of other than physical assets that I'd rather not liquidate, as I've pretty much liquidated what assets I can already.
My question is this, given my current financial situation, how do I go about paying off $20,000 as quickly as possible, preferably within two years?
Submitted September 07, 2017 at 09:56AM by Trypno http://ift.tt/2eO4RWr
