I have overdrawn money with Neteller, Firepay, and IGM Pay

[Blowup Doll]

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Bottom line right now I owe so many people so much money I can't sleep at night. Total I owe is around $8500 in unsecured debt, quite a lot for a 23 year old.

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$8500 is nothing. The avg american has far more debt than that.

Just relax and do what you're doing to pay it back. You'll be all right in the end. One option is that when you go back to school, you can take out a student loan to pay off your consolidation loan and get much lower interest rates.

[John Ho]

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$8500 is nothing. The avg american has far more debt than that.

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The average American isn't a 23 year old kid hoping to get a 2nd job so he can pull down $500 a week. He is paying off a huge chunk of his salary just to make the interest payments here. Don't give the kid any wrong ideas...he has a serious problem and needs to fix it RIGHT NOW or his financial future is seriously in jeopardy.

Kid, you should get on a spending plan RIGHT NOW and pay off your debt within the next 18-24 months. This is doable as long as you aren't going to bars paying $5 a drink. By the time you're 25 if you have this fixed you're going to be fine if you learn about money, save, and invest it wisely. Sit down, do the math, and figure out exactly how much you're going to spend each month, how much goes to debt, and how much is discretionary spending. Someone here is probably willing to help you do the math if you're willing to share your info with them.

If you're 30 and still in debt with the income you're talking about (even if it goes up by %30-%40 which it should) you will have a tough time retiring at a decent age.

And I'd add the average American is a moron. Spending money on frivolous crap today so you can pay 20%+ interest to a large financial conglomerate is retarded and should be regarded as such. I myself spend loads of money on frivolous crap but going into hock to do it isn't really an option for me.

[Blowup Doll]

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The average American isn't a 23 year old kid hoping to get a 2nd job so he can pull down $500 a week. He is paying off a huge chunk of his salary just to make the interest payments here. Don't give the kid any wrong ideas...he has a serious problem and needs to fix it RIGHT NOW or his financial future is seriously in jeopardy.

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I think he's well aware of the fact that he's in financial difficulty now, and that he has a serious gambling problem. The thread has already covered all that in much detail. I was merely pointing out that he hasn't drowned yet. $8500 is not a debt worth getting sick over. He'll recover if he keeps working to fix the problem, as he seems to be doing. There's nothing wrong with giving the kid some hope... a light at the end of the tunnel, if you will.

[LinusKS]

$8500 isn't nothing, and taking out a student loan to pay off gambling debts is ridiculous.

He needs to stop borrowing, stop gambling, and ask for a payment plan he can actually afford. If they won't do that, he needs stop answering the phone when they call.

When you're in a hole, first step = stop digging.

[LeftyRuggiero]

I am going to meet with a realtor Thursday about a possible career in real estate. This is what I wanted to do after I graduated anyway but, it looks like I'll be taking some time off from school to get things together. I am hoping that she will have some type of salary+comission plan that would allow me to start with them immediately. If the job is 100% comission I obviously cannot rely on that. I need a job that brings home regular paychecks to get this together.

[jman220]

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I just found a site online which for $49.95 they will guarantee you a personal loan. Kinda sounds odd to me but do any of you know about this? Anyone know where I can get a guaranteed loan for around $1500 or $2000 to pay this? Thanks again.

-LR

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Don't do this. Contact the companies directly, don't take out another loan to pay off your other loans. AND ABSOLUTELY DO NOT GET A CREDIT CARD TO PAY THEM OFF LIKE SOME PEOPLE ARE ADVISING. Credit card juice is ridiculously high.

[frommagio]

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$8500 isn't nothing, and taking out a student loan to pay off gambling debts is ridiculous.


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Well I don't know, he did get an education.

[Theodore Donald Kiravatsos]

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...Some clowns here will tell you garbage about owning up to your losses but if the roles were reversed they'd all be looking for an easy way out.

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You must maintain a reputation for honor in the gambling business. Your word must be your bond. It'll be your Ace-in-the-hole.

-- Doyle Brunson, in Super/System

[Fishy McDonk]

Well, Lefty screwed me. I sent him some money for the poker books he was selling, thinking that he wanted start a new life. The check was cashed but the books never arrived.

[Gregatron]

Wow, when I think about it that's a god damned degenerate hat trick.

Get some help dude. Seriously: I hope you get yr life in order.