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New here and at a loss at what to do

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6K views 30 replies 16 participants last post by  NikoSan999 
#1 ·
Hi, I am new here and am hoping someone has some great advice and I am also hoping to be able to help others. Here is my problem. I have about 35000.00 in credit card debt. I know...WHAT!!! Let me jus tell you how we got to this point. My hubby was a teacher for many years and we had no cards. He got sick with a neuromuscular disease about 9 years ago. He has been home ever since. For the first year of his illness we had NO income. I homeschooled, so I didn't work. We sold a car, cashed in his annuity through school and got some credit cards. We lived on that for almost a year. Then his disability checks starting coming or only 1000.00 a month. I went back to school and got my phlebotomy certicate, got a job part time and then went back to school again and got my medical assisting in another year. I have been working full time for the past 5 years. I only make 13.00 an hour. About 4 years ago STRS terminated hubbys disability. Again, we went back to struggling. He is still not working, but working on trying to sell his guitar collection to pay off some cards. Also during this long time we took out a business credit card and bought art supplies, tables, etc in hopes that he could do private lessons and make some money. He just always felt too bad to do it. I think he got through 2 weeks of lessons. So, after all this time we have wracked up 35000.00 in credit cards. Thats how we bought food, gifts, boys college stuff, tuition, etc. Not to say though we didn't use them sometimes for fun. We did. Just not that much. Our kids were so involved with music and sports so there was a lot of suits, shoes, fees, trips on them too. Of course their college came after that. Anyway. We are in such a mess. I make 13.00 an hour and can't pay for the anymore. I am in a hardship plan with one card (9000.00) at 208.00 per month. Our really big card (13,000.00) is the biggest problem. It is 388.00 per monht. I have been on time every month. This month came and we just didn't have the money. I called them and asked to be put in a hardship program. they said no. I asked for a smaller payment and they said no. I told them I would send 100.00 but that was it. They said I would get late fees and bad credit. I think I already have bad credit by now. Our other cards are about 2000.00 each. All full of course. I thought about getting involved in one of those companies that settle your debt for 50% of what you owe, though it really screws up your credit. Debt management companies tell me I don't make enough to be in the program. The next step is bankrubpsy. Do any of you have any ideas? I about to lose it here. Thanks a bunch!

Melissa
 
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#2 ·
FORGET the debt management companies. They cannot do anything for you that you can't do for yourself.

Can you please post your budget. Give us:
- all income sources
- regular living expenses - food, shelter, utilities, transportation, clothing essentials
- all debts - not just CC's

From that we can get an idea of what, if anything, you can pay towards the debts.

You don't need to file for bankruptcy unless the credit card companies actually sue you. Unfortunately, they probably will, but you're a ways out from that.

Get together all your info and lets see how bad the picture really is. Then we can start to formulate a plan.
 
#4 ·
Greebo I think this the woman I saw on another foroum and recommended her to come here I told her how you guys are wonderful Hope you can help her
 
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#3 ·
I am truly sorry you find yourself in this situation. You can count on some good advice from the people of this forum. You may also receive tough love. Understand that even though some advice may seem harsh, it comes from a good place with good intentions. I wish you the best.
 
#7 ·
Hi and welcome. Like fixer said, you will receive alot of great advice from people here along with a little tough love. Listen to what others have to say and I am sure it will help you out. Glad you joined us. :)
 
#9 ·
Debt management companies tell me I don't make enough to be in the program. The next step is bankrubpsy. Do any of you have any ideas? I about to lose it here.

Been there... survived it without bankruptcy. It took 7 years but we paid off every penny. It wasn't easy and it wasn't pretty but it can be done. Don't worry about your credit, if you can't make your payments now your record is already trashed.

Greebo is going to give you some very good advice. Follow it. There is no 'magic bullet'. There is only sacrifice and hard work and repaying the debts. Like the tv commercial says, "Just do it."
 
#10 ·
Well, I'll try. I won't promise it will be good.

It'll probably be harder than you'll like much though...
 
#11 ·
These threads always help keep me on track. You are not alone and there will be others after you too. Greebo's advice is always the best and his delivery is usually his own special style!!
 
#12 ·
Oh for crying out loud. I haven't even seen the full picture yet and y'all are selling me like the 2nd coming. Cut it out already.

I'm just good at running the numbers and looking at a situation and thinking, "Hmm. What would Dave Ramsey say?" and giving his answers. :p
 
#13 ·
Oh for crying out loud. I haven't even seen the full picture yet and y'all are selling me like the 2nd coming. Cut it out already.
So...is it wrong to use "messiah" when addressing you and bowing to your majestic presence? ;)
 
#15 ·
LOL, thanks for clearing that up for me. :D :greebo:
 
#17 ·
Greebo, we just respect your wisdom and humility.

Now help her out!!...that is after you have more info!!
 
#20 · (Edited)
How far in are you on medical bills?
Do you have health insurance?
Are you still paying for your or kids college?
Do you own or rent? If own is house insurance and land taxes figured in payment?
What do you clear in a week or 2 weeks?

I feel for you. Sending a hug your way..Been there, done that and still doing it. Makes you feel like you are sinking for the third time dosen't it? We've went down for the second time and I can't swim. I can't even tread water. If you need SOMETHING to make you feel a little better try being 62 and 56 and being $750,000 between business and personal in debt with an almost failing business and making less than you are paying out. You aren't that far in as us and we're still alive ( although I truly can't swim if we do go down for the third time)...no one has eaten us and no one has kicked our door in.

Listen to what these people have to say and weigh it within yourself. They are very smart people.
 
#23 ·
Last Activity: 10-22-2009 09:22 AM

User hasn't logged in since posting the first time.
 
#24 ·
Maybe she came for financial advice and was surprised to find the Messiah here? Now she's trying to find room in the budget to purchase the beer before she addresses Greebo again ;-)
 
#26 ·
LOL, yep I bet that's it, Siebrie! :laugh:
 
#25 ·
Maybe I missed something, but is your husband getting any type of income? has he applied for Social Security Disability? I would see if he can get permanent disability or perhaps some assistance since he is unable to work.

You will just have to continue to work with the creditors and let them know the dire situation you are in. Since Hubby is home sick, he can be the one making the phone calls while you are working.

Don't give up, just keep on keeping on !
 
#27 ·
User still hasn't been back - unless she's lurking.

If you are lurking, moo - delurk. We're here to help.
 
#28 ·
Maybe she thought she wasn't being taken seriously with the joking. Not that anyone meant any harm but maybe she is in a bad way and very sensitive right now.
 
#30 ·
Well, unless she logged out and then watched the thread WHILE logged out, she hasn't seen the thread since she created it.

Her last activity stamp is identical to the posting time of the thread.
 
#31 ·
Just hope she's ok. That's the main thing.
 
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