Please advise!

[Confusedd]

Hi all,

This is my first time posting here, actually I got registered today to post this message and to seek your kind thought in my situation and the decision I am about to make.

I am 30 years old who has is currently suffering from the financial damage I caused in my 20s. I am currently working in my profession but not making much money to pay off my debts. In fact, it has been over 5 years since I graduate and start working but I was in a much better situation when I was in school than now. My total debt is over 50K including student loan and with my salary now, I can only afford to pay the interest and nothing significant towards the principal. This is frustrating, so I am trying to see other option to change this life style.

I was talking to a friend of mine and he thinks I might be better of claiming bankruptcy. I thought about it but I will not be qualified with my current income. So, if i go that path, I will have find another job or go back to school to do my graduate study while the probation period ends. That way, I will be free of debt by the time i finish my graduate degree and still have a higher degree to be more marketable and start life from scratch.

At the moment, I am just brain storming and would like to see what your thoughts are in this matter. I understand it is not going to be easy to get out such debt but I will appreciate your kind suggestion and advice.

Thanks again.

C.