I have a good job that pays well. I have established myself in my occupation and should be able to enjoy some of the benefits of gainful employement ... however, I am recently divorced and it is difficult to cope with the financial drain. I pay nearly half of what I bring home each month to my ex-wife in child support and alimony. Of what I have left, one third of it goes to pay off a consolidation loan that "we" got to cover an outrageous credit card debt that my ex-wife had run up. She had 4 credit cards I didn't even know about. I am left to try and live off of 40% of my income (rent, food, utilities, entertainment, etc.).

Fortunately, I am able to make it ... but just barely. My frustration is that it will take me 5 years to pay off this consolidation loan if I keep to the minimum monthly payments. I have been taking ANY extra money I have at the end each month to make additional principal only payments towards the consolidation loan. But this just sickens me to do. I didn't see any benefit out of the original purchases that were made and I get no benefit out of it now. I am just flushing this money down the toilet each month ... and to flush additional money down the toilet to pay it off sooner is simply nauseating.

Any advice out there on how to cope with this situation?