I'm 80K in debt. 70K on credit cards. 10K for federal student loan. Unemployed for 6 months. Now what?

I am losing hope. I am not lazy I just have not found a career that I am passionate about so I job hop. I've had more than 7 jobs in 10 years. How do I regroup? I am down to my last $20 and very confused. I am a college graduate. I am looking for an opportunity to excel and grow with a legitimate company in Chicago. I prefer to work in an office and not run around all day. I am looking for a mentor. Any volunteers?

I agree with Laura C. If you are that far in debt don't be so picky. Take what you can get (like it or not) & while you are there do the best work you can do (who knows...it may get you something better or closer to a job you are hoping for). You don't have to stay at the job until you retire, but you need the paycheck to pay your bills. A paycheck is a paycheck whether you are passionate about the job or not. If you don't get an income you are not going to get out of debt anytime soon. All you will succeed in doing is raising the amount of your debt. I know because I was there. Sure some answers are go get a loan. Bad idea! That is why you are where you are. If you can't pay back what you already owe, DON'T borrow more. Also as Donald W said...don't believe those "credit repair" scams. They can't get you anything you can't get yourself from the creditors (payment options, stopping the fees, etc.), most of them charge you money that you can't afford because you are already in debt (you are calling them to help lower your debt and get you out of it and they add to it for helping you? That should tell you something about their service! It's B.S.!)

Call every one of the creditors you owe, see if they can work with you to help get the balances paid off and maybe even lowered. Most of them will work with you! They sometimes reduce the balance, stop charging the extra penalties and fees every month for late payments, over credit line fees, etc., negotiate a low reasonable payment plan (less than what it is now)! DO NOT IGNORE AND AVOID THEM!!! Trust me I know. I know that it is not easy to talk to them, but in the longrun it is better and you will be glad you did. The daily phone calls you probably get, turn into hourly calls from 8am-9pm everyday including Sat., Sun., and holidays, the Fedex and UPS delivery persons get to know you really well because they bring you letters from them all the time and the stress level you are at gets higher and higher.

I know how you feel because I have been there myself. It isn't easy and you feel like giving up, but if you just make an effort and do your part, it will get better! If you were responsible for creating the debt, be responsible and get rid of it! Don't forget about it!

Good luck and I wish you all the best! Source(s): My own experience & Laura C & Donald W (other answers)

Bankruptcy for the $70K, pay off the student loan.
You can search online for a mentor to help you. That's what I would do.
Guessing
Like I did in a very similiar situation (college grad, with no immediate dream job prospects as I'd hoped) .... you need to suck it up and find a job (ANY JOB) that puts a paycheck in your hand until you start to get your head above water.... work retail, restaraunt, anything that pays... if you're in that much debt you are in no position to be choosey. If you're not lazy like you said, you would get a job anywhere as long as it was work and income.
look at it this way.you can go nowhere but up from here.good luck!