+1let me see if i have this right, your banks assisted you with sundry essential costs right to the conclusion of your education, you are now a qualified medical doctor, you are now looking at ways to get out of these debts and let the banks carry the can. If these are state owned banks then you really mean the taxpayer to carry the costs of your eduction, if foreign owned you want the shareholders and stakeholders to carry these costs but certainly not yourself.
You should see a doctor yourself, that is unbelievable, what a cheek. You know that so many have gone down this path before you, they leave 3rd level with a qualification which can set them up for a successful career and almost all qualify with debt. They work off that debt and have been grateful to whomever assisted them, banks or family.
Simply put you need to honour your commitments, approach your lenders and come to an arrangement with both banks to make repayment sustainable and to allow you to live, as the years progress your salary increases, you have alluded to this in your post, you will be able to pay back more in 3 years time than the first year, allow for this with your negotiations, there is no magic solution, you have to work this off, without the banks support you would not have made it.
The advice offered by the previous poster is nothing more than an advertisement, treat it as such, it does nothing to assist you. Protect your credit record at all costs, availing of insolvency or bankrupcy is poor advice indeed to a young professional just starting out.
let me see if i have this right, your banks assisted you with sundry essential costs right to the conclusion of your education, you are now a qualified medical doctor, you are now looking at ways to get out of these debts and let the banks carry the can. If these are state owned banks then you really mean the taxpayer to carry the costs of your eduction, if foreign owned you want the shareholders and stakeholders to carry these costs but certainly not yourself.
You should see a doctor yourself, that is unbelievable, what a cheek. You know that so many have gone down this path before you, they leave 3rd level with a qualification which can set them up for a successful career and almost all qualify with debt. They work off that debt and have been grateful to whomever assisted them, banks or family.
Simply put you need to honour your commitments, approach your lenders and come to an arrangement with both banks to make repayment sustainable and to allow you to live, as the years progress your salary increases, you have alluded to this in your post, you will be able to pay back more in 3 years time than the first year, allow for this with your negotiations, there is no magic solution, you have to work this off, without the banks support you would not have made it.
The advice offered by the previous poster is nothing more than an advertisement, treat it as such, it does nothing to assist you. Protect your credit record at all costs, availing of insolvency or bankrupcy is poor advice indeed to a young professional just starting out.
Let me see if I have this right, your Banks assisted you with sundry essential costs right to the conclusion of your education, you are now a qualified medical Doctor, you are now looking at ways to get out of these debts and let the Banks carry the can. If these are State owned Banks then you really mean the taxpayer to carry the costs of your eduction, if foreign owned you want the shareholders and stakeholders to carry these costs but certainly not yourself.
You should see a Doctor yourself, that is unbelievable, what a cheek. You know that so many have gone down this path before you, they leave 3rd level with a qualification which can set them up for a successful career and almost all qualify with debt. They work off that debt and have been grateful to whomever assisted them, Banks or family.
Simply put you need to honour your commitments, approach your lenders and come to an arrangement with both Banks to make repayment sustainable and to allow you to live, as the years progress your salary increases, you have alluded to this in your post, you will be able to pay back more in 3 years time than the first year, allow for this with your negotiations, there is no magic solution, you have to work this off, without the Banks support you would not have made it.
The advice offered by the previous poster is nothing more than an advertisement, treat it as such, it does nothing to assist you. Protect your credit record at all costs, availing of insolvency or bankrupcy is poor advice indeed to a young professional just starting out.
Relax people. I fully intend on paying it if at all possible, that's for sure. I also agree with the point of view that they lent the money to me so that I could get this qualification and the obviously moral and good thing to do is to pay it back.
I am simply checking out all eventualities so I know the full picture. It also may give me some wiggle room in negotiations with the bank. With this amount of debt the only responsible thing to do is be aware of all your options before you negotiate with them.
Many thanks for all the helpful replies.
I am with paler idea, bronte et al on this one. I just sighed with disappointment reading it. This is an example of the very lack of integrity in professionals that helped bring us to this awful place in the first place. Doctor, don't bother protesting with a reply. You saddened me.
...It's about what's is best for you and you alone.
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