Posted on 02/04/2005 1:38:43 PM PST by non-religious-conservative
OK, listen up. I am prepared to get flamed but I seriously need help. I am deeply in debt and need out. I'm not asking for donations, or sympathy. I NOW know how to budget, this is all carryover from my irresponsible ways of a year or two ago. The problem is, that my minimum payments on credit cards are over $1000, and my monthly take home is about $1775, with $400 in rent. So-even before having any fun, I am pretty much SOL every month.
Or-here's a thought. You're a student, right? When I was in college you could dial-up free into their network for free internet. Perhaps you could do that and still have internet. Most schools do something like that IIRC.
Take a lesson from Congress:
Borrow
Borrow
Borrow
Isn't that how he got in too deep in the first place?
Get your debts consolidated. I did. Go to a Consolidation site to consolidate your debt.
$1000 in MINIMUM credit card payments, sheesh!! And I though I used to have a lot of credit card debt, until about a year and a half ago, when I dumped most of it, (nearly 15k), on a refi, on the house, Now, I have LESS than $1000 of TOTAL credit card debt, and a credit score of 785.. It Does pay, to get out of debt.
BTW-- I am presently between jobs, preparing to send a resume to a possible employer,and still managing to keep the credit card balance under control. (like, $20 for gas, once a week or so, and NO big (over $100) purchases, on the card.
Can you do a refi on your house, if you have a little equity? That may be an answer, to some of your financial problems.
why don't you want to declare bankruptcy? it is a viable option.
I am in the mortgage biz. I got the impression he doesn't own a home-am I right?
Sell your body to science.
Yeah, your right.. Sorry I missed that. Silly me.
"Can you do a refi on your house, if you have a little equity? That may be an answer, to some of your financial problems. "
Ummm....this needs to be directed to the author of this post!
Re:Refi - I refinanced last year, the 3rd year into my mortgage. But I had about 30% already paid, so that may have helped..
He could marry a rich woman - It served John Kerry well.
Two jobs would be better than one.
If you haven't already, cut up every credit card you own and close the accounts.
Good luck with this. My husband struggled terribly after his divorce but he dug his way out. It takes time.
I am sorry, I pinged the wrong post. And, he DOESN't own a house, I found out.
Without that, he may be between a rock and a hard place. I don't have much "fun", eihter. But, I'll save that for later, when I can afford it.
Do you have a roommate to split expenses with?
Can you bring in another to lessen expenses?
Do you have a talent you can use for extra cash? (no, not that!) cut grass, sing at weddings, wait tables.
Get rid of EVERYTHING except for electricity, gas, water etc. Even your phone. I am serious!
Eat nothing but peanut butter sandwiches etc for a while.
Walk, don't drive unless you have to.
Day old bread stores are wonderful, chicken livers and rice are dirt cheap etc.
Talk to your CC companies about your payments.
I am very sorry you aren't having any fun, but...
BUT, I have been there and done that too.
It ain't forever.
Right now, survival is important.
When it is over, the debts paid off and you are out of school, it will be worth it.
Everything you see above is what I did when I was in college, broke and damn near starving. If it wasn't for a huge tomato plant growing over the drain field, I wouldn't have had any vegetables one summer.
I am curious about something : Doesn't bankruptcy RUIN your credit, and not help it, like those deceptive commercials claim?
A couple of things to try...
- Call each credit card company and talk with them. I was in a similar state (actually, I'm still fighting debt and will be for a VERY long time) and some of the card companies agreed to close my card, and fix my interest rate and payment. Basically, instead of paying 3% of the balance at 24%+ APR, I wound up paying 2.5% of the balance as of the time I closed the card, every month, at 13.9% APR. It's taken years, but I'm almost done with that card. Some companies might work with you, some might not, but at least try it. (Credit card companies walk a fine line...they want to squeeze as much out of you as they can, but don't want you to default. It's in their best interest to renegotiate sometimes.)
- There are companies out there that will consolidate your debts--basically they take over your finances. They get your check, pay your creditors off and you get what's left. They put you on a budget. And despite your handle, you might want to look into a couple that are Christian in nature (Christian Credit Counselors is a name that sticks in my head). I've never dealt with any of these companies, be careful. Some are probably scams, but some are legit and very helpful.
- Bankruptcy is your ultimate last resort. Don't go there unless you have ZERO other options, and talk to a reputable lawyer before doing anything with it. It will take years, maybe decades, to repair your credit if you do it, but ultimately, it might be better than defaulting on all those cards.
}:-)4
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