Today I read some of the recent postings and found most of us seem a tad bitter and a little bit negative. Okay, extremely bitter and negative. Personally I just want to warn those of you who are not already in debt to run, run very fast, very far. The truth is the pitfalls of taking out too many loans without all the information can be devastating to your credit, your self-esteem and you finances. So just seriously think about all your choices before making any major decision.

Okay, I know your just what 18 to maybe 25. But guess what - your grown-ups now - yes you really are - by definition anyway. Don’t freak out it’s not as bad as all that - well okay maybe it is - but you’ll make it I promise no one has died of adulthood. At least not that I’m aware of. Really, don’t sweat it, I’m 41 and still haven’t got a clue about the wisdom of the ages. I do, however, have experience and knowledge. As they say knowledge is power. So my recommendation is empower yourselves and quickly. Sorry. I know I said this post would be positive, keep reading it does get better - promise.

So, my adult friends suck it up and find out what you need to do now. The first thing you need is information so don’t let that extremely expensive education go to waste. The easiest way to approach the situation is like an assignment the basics are the same. You start with a problem, question or issue and find an answer. But unlike assignments do not wait until the last minute. As we all know split decisions are almost never good ones.

Step one - research. You have already started that because you’re here. We’ve been there done that and we all honestly do want to help. So what’s step two. I would suggested getting in touch with your lender. If you’re not a pack rat like me and kept every letter, scrap of paper or anything that pertains to the loan. Seriously I have the original loan I signed my first semester in college. Yeah, yeah back in the day. Stop laughing and contact your lender. This will actually be a twofold call. First you will find out what kind of customer service department your lender has and get the papers you’ll need to help you make the decisions to come. If you don’t get the answers you want call back and keep calling until you do find someone willing to help. Their there I promise it may take some doing but there is always someone knowledgeable and willing to help, which is to say do their job. When you find that person get their name and extension if possible. I also suggest that you keep a log of every call - including date, time, name of representative and a few notes. Believe me this will help you later.

Step three - find out your options. You might want to make some notes on some ideas provided here. Find out what is options are available. Now say thank you and put down the phone. Do not! I repeat Do not! Make a decision now. This is the part where you review, think, check, break out the budget ( I all you grown-ups have one - okay make one)double check, think, and check again. You need to step away from the papers. Take a break, have a beer or two - not twelve. Get some rest and come back tomorrow. Repeat last part of step two - No the part before the beer break. If nothing seems feasible try your lender again otherwise take the most useful option. Now take a breath. Call your lender and get the paperwork you will need to implement the solution. Yeah get use to the paperwork and keep it all. Just a pointer don’t use your deferments and forbearances if you don’t have to.

Hope this post gave you a few laughs and some help. Till next time. KC