Well, this is one way to climb out of debt.
Jason Madsen, a former Charlotte School of Law student who left the school after only one year, needs help repaying his students and has turned to eBay for assistance.
In what he claims will be an excellent marketing opportunity for any business, Madsen posted a $75,000-bid request on the site promising to change his name to whatever the winner wants for two years.
"If you want my first name to be ‘Bob’s Supermarket’ and my last name to be ‘.com’ I’m cool with that, or if you want the first ... name to be an entire business name — whatever works," Madsen wrote on eBay.
He also promised to drive a car and wear shirts with the winner's logo — as long as the winner pays for the car and shirts, of course.
In his bid, Madsen said he was about to enter his second year of law school when his financial aid was denied and he was unable to secure any other financing.
"My family was hit hard by the recession, and all of the co-signers I asked were denied as well. In a way, I feel like I was denied for being poor and having poor friends and family," Madsen wrote. "The school wasn’t very helpful at all. It was a pain just trying to talk to somebody. Finally, I got to speak to a person and they were like, 'Have you tried private loans? Well there’s nothing else much we can do.'"
Between his debt from his first year of law school, as well as from his undergraduate education, Madsen owes about $100,000.
So far, no one has bid on Madsen's ad.
In an interview with Above The Law, Madsen continued to bemoan his less-than-favorable financial state but also revealed just how little planning he put into his education in the first place.
From the interview:
"I went to Charlotte School of Law because they accepted me. My LSAT wasn’t great, and at the time I was a recent college grad with no meaningful job prospects. I never had plans to be some big firm lawyer. I was more of an idealist. My plan was to work in the public sector and repay my debt through income-based repayment plans and debt forgiveness programs for lawyers working in the public sector. I figured if I planned on working in the public sector, I didn’t need to go to a top fourteen school — that I could make it work. Like I said, an idealistic plan, but it was my plan nonetheless."
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