<prompt> Human: I posted before, but without enough details, my bad. So, 2 years ago I worked in IT, and had a credit rating over 800. I despised IT, the only way I found it even vaguely tolerable was by providing discounted services to non-profits, which meant I couldnt afford to save much. I dont go out much, I dont go on vacations, I dont spend a lot on food, I have no large luxury expenses, etc. because I couldnt afford it. However, I love investment management, I had taught myself many many years prior, and was successful in that branch of life. I couldnt roll over profits from my initial seed money since I made so little I had to frequently pull out profits, but I did well year after year after year. I decided to get an MBA to pursue a career change. It was the worst mistake of my life. I went to a top 40 program, but it turned out they completely lied in writing nonetheless about their recruiting network in the investment field. Pretty much the most important part of job placement. Im networking as much as I can, but it gets me nowhere, the MBA is basically just a piece of paper, it carries no reputation in investment management, which is what all my courses were in. Ive had the MBA for 5 months, and have been looking for work for 12 months now, and been rejected from over 500 jobs. The latest is a rejection from a mutual fund where I had a recommendation from one of the directors. I have a minimum wage paying temp job, and I cant go back to IT, not just because I despise it, but because I have a now 3 year gap since my last job in the field, and a finance MBA. Ive applied for every kind of job imaginable; obviously a bulk are in the investment field. Ive thought about waiting tables, but you cant just go in and demand more lucrative weekend shifts, plus I have a medical issue with both feet that prevents me from being on them for long periods. I tried applying to some jobs anyway, figuring Ill risk the long-term damage if it keeps me off the streets. Still got rejected. So now my retirement is drained never had more than a few grand, I have no savings, Im behind on rent, and Im selling my bed furniture. Im getting crushed by CC debt; I had taken a few grand on during my program, for the first time in my life really, with the idea that since 99.5 of people have a job within a month of graduating from my program also probably bullshit, Id pay it off then. Since that time though after I ran out of cash Ive had to put groceries, utilities, etc. on CC. I have about 11K right now on it, as well as 200K in student loan debt. The MBA is useless, you cant use it for career-changes the way you used to, at least most of the time, and I cant go back to IT, which means Im falling back on my high school diploma for work. Ive come to the realization that I will probably not ever earn more than maybe 25Kyear for the rest of my life, and Ive accepted that Ill never be able to afford to have kids, or any of my other previous goals. In the meantime, for the next 12 months Id be lucky to clear 10 grand. The CC debt is killing me; its like 500month, which is 60 of my gross monthly earnings. The student loans, even in deferment, and eventual forgiveness, count as a taxable event, and that will bankrupt me then. So Id rather go to court and try and get them forgiven now you can actually try and get them forgiven that way if I recall. I called the CC companies; they said they could reduce my payment a tad, but theyd close the accounts, which basically does the same to my credit score as a bankruptcy at this point, since Im around 550. So am I missing any options here? Im going to need every dime I earn for the rest of my life, and dont anticipate ever being able to pay off the CC debt. My family is in poverty which is part of the reason I wanted the MBA, to try and help take care of them, but that means I have no family thats capable of helping financially, and dont see anything else I can do. I assume at some point Ill transition into living in a shelter or out of my car, and Id rather have this taken care of by then so I dont have it hanging over my head. ThanksCliffs:1. 11K CC debt2. 200K student loan debt3. Will never earn more than 25Kyear4. CC payments taking up 50-60 of gross monthly income. 5. Options? Assistant: Chapter 7 bankrupcty will only clear the credit card debt. Student Loans cannot be bankrupted. Have you tried call the CC companies and see if they can lower the payment or interest rate on the cards?Human: yah, theyll close the accounts, which destroys my credit rating anyway. Im hoping to be the .01 that can get their student loans dismissed.  <response>: Im hoping to be the .01 that can get their student loans dismissed.Thats not happening, and if you walk into a bankruptcy proceeding thinking this is even remotely possible, youre in for a lot of disappointment. More than the disappointment youre feeling from your costly MBA. 