Need some suggestions, PLEASE

**DorothyBeverly** · 10-18-2005, 02:45 PM

Hi all...welll..I did check into a credit counseling service just to see what they could offer and the payments are not any lower than what I am paying right now. I really would like to get these paid off on my own..but I don't know where to start. First of all..I have a little over 4500$ in unsecured debt..credit cards and medical bills. I am making my minimum payments (barely) and I always have to end up using the little bit that is available. All of my cards are at (or over a little) the credit limit. We spend around 300$ a month on prescriptions per month...my husband has cancer and alot of medical problems to boot..so that is not something I can let go. I have did everything I think I can to try and save money. We spend around 50$ per week on groceries (this includes all personal items, cleaning supplies, and pet food/litter). What can I do to get these down?? I can even THINK about what I am going to do for Christmas. HELP!!!!!!!!

**Kimberlina** · 10-18-2005, 02:54 PM

Have you looked into anything like this? (I'm not familiar with this particular program, though I hear these things advertised by drugs companies, so please beware and do your research.) https://www.pparx.org/Intro.php

You might try calling the company that makes the drugs your husband/you take and explain your situation and see if they can help you out- they often do.

**PrairieRose** · 10-18-2005, 02:56 PM

Ok, first off

I'm sorry to hear that your dh has cancer and other medical problems. I'm sure that eats a lot of your monthly budget.

Now, in order to get things under control I'd suggest that you sit down and make a detailed list of everything you owe, every single cent. Then, I'd make a list of all your monthly expenses. Next I'd do my best to work out a budget on paper, including even the minute-est things that you have to spend money on. And now it's time to go on a spending moratorium. Spend absolutely nothing, no starbucks type coffees, no extras at all. Track your daily spending for a month. Know exactly where every penny goes each month.

My very best suggestion would be to listen to Dave Ramsey daily at Daveramsey.com (I believe that's right) and start implementing his principals. You can do some little something to bring in some extra money, somehow. Can you babysit? Or do you sew? You could do mending for the public....you could run a pet sitting service, cook for a family whose mom works long hours....there's something you can do to earn some money. Any and all extra money should go towards you credit card or debt with the smallest balance on it. When that's paid off, move on to the next making the payment you were making on the other one, added to this payment. So on and so forth until you get finished. You can do this.....it only takes a little while before you start to see the difference it makes. Check out the debt reduction forums here as well. I think my story as well as several other ladies stories are posted there. Be determined......very, very determined.

ETA* Oh and it never hurts to call and cancel those cards. Speak with a credit manager at the credit card company and negotiate the interest rate with them. Explain the situation with your dh's health and they should be more willing to work with you.

**nodmicks** · 10-18-2005, 02:56 PM

Dorothy I'm so sorry your husband is sick! Hugs!
Have you tried calling the CC companies about lowering interest rates, dropping fees etc? Sometimes with an explanation as to what is going on the cc companies can be helpful. They would rather work with you than have the accounts go to collections and get settled for pennies on the dollar. It can't hurt to try.
I know its hard but somehow you must first stop using the cards and adding new debt.
Have you checked around to see if there are any programs to help with the med costs? I know when my Dad was being treated some of the drugs were very expensive. The Mayo clinic gave Mom and Dad info on some programs even though they didn't qualify.
I know this goes against the grain completely but if it comes right down to it let the cards go unpaid. Food , heat and basic needs come first. People first~ money last
Best of luck and blessing for hubbys health.

**DorothyBeverly** · 10-18-2005, 03:26 PM

You guys are so great...thanks for all the suggestions!

**DorothyBeverly** · 10-18-2005, 03:45 PM

I went to that prescription web site...it is only for people who don't have medical insurance

We have insurance thru my employer...the 300/month we pay is in co-pays...thanks though.

**nodmicks** · 10-18-2005, 03:49 PM

Doroty there are some things for people with ins. Maybe call the clinic or hospital. My parents had ins through union local 512 but were still given info.

**Jenna** · 10-21-2005, 09:11 PM

Does your company offer a Flexible Spending Account? The money for the FSA is withdrawn for your income pre-tax (so your taxable income is a little lower.)

http://www.bankrate.com/brm/itax/news/20001129a.asp

Is there any "fat" in your monthly budget? Anything you can do without to save money?

For example, I haven't had cable in years, and have basic phone & internet service.

**RuthNY** · 10-22-2005, 08:55 AM

Dorothy, I have nothing to offer except a

**staceyy** · 10-22-2005, 11:08 AM

Richard Kiyosaki, author of the Rich Dad, Poor Dad series has a book titled, The ABC's of Getting Out of Debt. In the book he cites a strategy to get of debt that is not well known. I believe he calls the companies that employ this technique"debt eliminators" (I'm not 100 percent sure of the name however).

Anyway, it sounded as though there are companies out there that will negotiate your debts with your creditors so that you end up paying pennies on a dollar. Each month you send this company money that goes into a savings account and at the end of the prescribed period the money is sent to your creditors in an agreed upon lump sum. For instance, your credit card balance might be $5000 but your creditor agrees to you paying $2000 in a lump sum by a certain date and the rest of the money you owe is forgiven. Be careful though that you only deal with reputable companies here. Richard Kiyosaki claims to have a list of reputable companies. Please buy or check his book out at the library to find out how to contact these companies. Good luck, I hope this bit of information helps.

Stacey