If you had a crummy minimum-wage job, they would be applauding you for “doing whatever it takes” but the second you have a business making you more than $15K a year, people pipe up and try to cut you down.

NEWSFLASH COMMENTERS! It takes at least TEN YEARS (!) for student loan debt to get discharged if you work as a teacher, and you can only work in some schools and there are tons of conditions above and beyond that. If you actually know any teachers that have tried it, it almost never works out. Statistically more people get their student loans discharged through BK (which is rare!) than get it discharged under the teacher programs.

DK:
Your business is going good, so I recommend not effing around with getting extra jobs right now. You can do a lot more good by just focusing on your business and improving your debt-to-income ratio (like you are doing).

I also just started reading this blog again after a long absence, and I see major improvement. Last time I read, you were basically homeless and living in your office. For those of you that don’t know, office space is sometimes much cheaper than rent. Example: the last office space I looked at a year ago was $400/month near Olympia, while the rent on this apartment just went up to $950. So if you can get away with it, it can be the way to go in a pinch — especially if you have to have the office no matter what.

I think it’s especially stupid that people say that you need to be out of debt “right now!” It takes time. Don’t get caught up and try to rush it, just do the best you can. Save as much on other things as you can and put it towards debt. If you can get a roommate, I would highly recommend it. Saving money on food seems like a good goal for you right now, you can reap big rewards with little time required.

I just came about your website today, searching about some short sale FAQ. Your story is very interesting. I have tried to follow along with comments, but am unsure about a lot of things.
What is your “business” exactly?

I read the “about me” section, but have not found other details. Just curious.

I think you are progressing. Sometimes that might be slow but you didn’t get that way overnight and it won’t change over night.

Before even considering BK I would do up 2 budgets complete with everything. One with the business and one without. Since you still need to pay your mother, tax and the student loans you may be no different. And I would suspect that you would want to pay back your investors.

I know it is a lot of debt don’t get me wrong but you have still made progress.

You can do whatever you want. You are the one who has to live through this. It is you choice. Personally if I were you, I would realize the need to start over. Wipe the slate clean. Or not. Here is a tune for you…

http://www.youtube.com/watch?v=zHzLWLFTPPI

Love the spreadsheet though, but where is your car loan?

Oh wait….

Let’s see. Short sold house, 100K in debt gone. 21K paid back in a year. Bankruptcy got rid of another 40K. That’s 161K just off the top of my head in one year. My old spreadsheet didn’t include my student loans, so I think you’re missing a bit.

Actually, you’re missing alot. Become a teacher? Are you really just throwing out ideas out of your butt here, because you have no clue what you are talking about. That would mean another year of school here in WA (to get certified), then student teaching, then finding a job (most teachers have to sub for a year or two first).

Wow, that’s at least an 18 month process to make…..30 grand. How much do I pay myself now….35 grand. That sounds like a fabulous idea! (note the sarcasm). And gosh, how many GOOD teachers do you know that work a “couple of part time jobs”….yeah, my teacher friends are all exhausted and come home to grade papers. That sounds like a winning idea right there.

I don’t usually rant like this, but frankly, I’m sick of dumb comments like this one. Try thinking next time before you give me your fabulous pearls of wisdom, it helps.

I’m out.