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Student Loans and CC Debt


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My situation is that I have over 45K in CC debt, 90% of which originated from Joint Accounts that my ex-wife opened prior to divorce of which I did not approve of. I also have close to 30K in student loans which last I heard the creditor had filed for recovery of the government gauranteed portion.

My eldest daughter has been accepted to NYU. My objective is to protect future cash flow so I can help my daughter get through college and also to try to get a mortgage as soon as possible. Right now cash flow versus expenses are about break-even so I can't afford to waste money on the wrong strategy.

I have to decide whether or not I can do anything to deal with the debt, or just file for BK.

Some creditors are threatening to file 1099's for the balances charged off.

Had perfect credit for 12 years, and then had a viscous divorce, during which the turmoil directly resulted in the loss of my job. So bills went unpaid and credit got wiped out....

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