Confessions of a Laid-off Lawyer

Just Your Average Joe Blogging Away His Debt—In One Year or Less

About Laid-Off Lawyer

The Author:  Male / 34 years-old / White / Gay / Adopted / Gemini / Lawyer / former New York BigLaw associate / raised Byzantine Catholic . . . and, of course, Laid-Off.

The Goal:  To completely eliminate my debt by 8/9/10.

The Project:  Each day I post my net income (Total Black) and total debt load (Total Red).  Total Black includes checking and savings account balances, PayPal accounts, a mutual fund account, and possibly a few additional options I may stumble across on this journey.  Total Red includes student loans (both privately financed and government secured), credit cards, personal loans, and back taxes.  I do not calculate monthly expenses like rent and utilities in with total debt numbers.   On the 10th of each month, I will break out the amounts of total black and red by individual accounts to chart my progress in both saving and paying down my debt.

I intend to accomplish my goal without debt cancellation or loan forgiveness of any kind.  I don’t plan to meet with debt management consultants or debt consolidation programs.  I’ll meet this goal through my own efforts . . . and maybe a few generous strangers along the way.  I will be as honest and upfront in my entries as possible in writing about myself, my debt, my feelings and finances, my spending, and, of course, my progress and set-backs in meeting this goal.  I will not color my truth or shade my stories.  If something is embarrassing or unflattering but relevant, I’ll still share it.

I believe this goal is achievable despite the size of my debt.  You can read more in my initial blog entry: In Medias Res.

If you have questions, please email me:

Written by Laid-off Lawyer

August 9, 2009 at 20:42

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