All Forum Posts by: Caleb Rivero

@Caleb Brown Thank you! I'll look into it.

Thank you for the encouragement and wise words!

@Alecia Loveless I appreciate the response! :)

Hey everyone,

I’m 25 and could really use some honest advice. I’ve made some financial mistakes in the past and now I’m sitting on roughly a little over $60k in debt (car repossessions, credit cards, loans, student loans, collections, and child support). My credit score is just a little over 500.

I work as a server at a restaurant, and I average around $4k a month (some months a bit more, some a bit less). I’ve been picking up extra shifts to increase my income, and I’ve managed to save just over $5k so far.

My ultimate goal is to turn my life around and eventually invest in real estate. But right now, I know no bank would take me seriously with how my credit looks. I’ve considered filing for bankruptcy, but I’ve also been told it will follow me everywhere and limit me down the road. My thought process was—if I file now at 25, I’d still have time to recover.

On the other hand, part of me wonders if I should just buckle down, hustle, and focus on paying it all off instead.

I’d love to hear from those of you who have been in similar situations or who’ve helped others get out. Should I file for bankruptcy or grind it out and pay everything off? What would you do if you were in my shoes?

Any honest and sincere feedback is appreciated.

@Nathan Gesner love this advice