How to begin investing with a large amount of debt
I have been listening to the podcasts, reading, studying and using most of my free time to learn how to invest. I have learned much from other investor stories but I have yet to come across a success story of a person who started off in a situation such as mine. I am 28 and employed full time as a drasftsman. Although this is a career that pays well, I do not make very good money because I am still learning (apprentice). I also work 3 nights a week serving tables at a restaurant, it is not realistic for me to pick up more shifts as I still need time to take care of life demands. Here is where I seem to be different.... I have a ton of debt, a lot. All of my debt is unsecured and none of it is income producing. I have student loans, a car loan that I am upside down on, and credit cards. With normal expenses added to my debt payments I almost have no extra income. Working a second job is very helpful but the money I am making is not moving the needle. My credit score is around 650 but because of my debt/income ratio no traditional financing will even consider me. Is there anyone who was in a similar situation as mine and found your way through it?
P.S. My car is upside down and it would make the most sense for me to shed the car, buy a junker, and get a loan for the difference. However, the junk car plus the difference on what I owe will put me right back at the same amount of total debt. I have considered refinancing just to lower my monthly bills which are out of control. Also, I have reduced my spending to that of a broke college student. I imagine many suggestions will come in this form so I thought it best to cover right away.