While I was in college, not too long ago, I played poker with some college buddies. I did very well and things were fine. But as time went on, I found myself wanting to play for more money, which equals higher risk. When I would lose, you have to sooner or later; I would use my school funds to play more. When those ran out, I would just take another student loan out. My mind frame was worry about things later, out of sight out of mind. As things contoured, the loans started to add up. When things are all said and done, I have my college degree, but I also have more money in student loan debt than twice what my house is worth. I got therapy over this, and my wife has told me she forgives me and that money is just money. But the thought of those 2-3 years of terrible mistakes will ruin/finically drain me for the next 30 yearsI don’t know what to do. I understand that I have to live up to my mistakes, but I had a disease, it took over my life. Please, help, any tips, ideas?
2007-10-21 13:37:53 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
That's tough. As I understand it, you can't bankrupt out of student loans either.
There's nothing really to do, except stop beating yourself up over this. Your wife forgave you, that's big. I know you've got guilt over this, but just try to be the best husband and family man you can be. That's the best way you can make it up to her, and she'll appreciate that far more then having a crappy husband with cash.
If you want some sort of spiritual forgiveness, try and do something for the community that relates to gambling. Maybe help with a gambler anonymous program or something.
Obsessing with your past mistakes will not help anyone. Look forward. Good luck.
2007-10-21 13:53:16 · answer #1 · answered by Uncle Pennybags 7 · 2⤊ 0⤋
Consolodate as many debts as possible, and start paying them off... Sell the current house, buy a smaller/ cheaper one, use the extra $$$ toward paying off the debts. Use Your income to pay the debt, and your wifes income to Live on until the debts are paid. Thousands of people get out of debt without resorting to the "debt-management Companies" which are more costly than dealing with your Creditors yourself... You'll feel better once you start taking action to repair the damage your gambling caused. As for your wife, marriage is for "better or worse", not just if she feels like being supportive through this crises. Good luck.
2016-05-24 02:02:29 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Recognizing that you used to have a problem is the first step.
Wanting to do something positive about it is the second step.
You are going in the right direction!!!
Now you need to work at increasing your income , over time, to help you get control of your finances.
Good News! This can be done. There are business models (not many) that don't require money to get started....they require 'sweat equity'.
I know of one that is integrity-based, has people to mentor you and a few that may commit to your goals.
You can do it!
2007-10-21 13:50:57 · answer #3 · answered by smiling_freds_biz_info 6 · 2⤊ 0⤋
Based on your statement, "I understand...my mistakes, but I had a disease" it sounds like you don't really put much blame on yourself, but are looking for others to exonerate you as well. If you truely feel bad, make restitution. Get a 2nd job and put all the money onto your debts until they are at least paid down to where they would be had you not gambled with deceptively obtained money.
2007-10-21 13:45:30 · answer #4 · answered by Anonymous · 1⤊ 1⤋
take up drinking
2007-10-21 13:45:12 · answer #5 · answered by Anonymous · 0⤊ 5⤋