Frugal Village Forums banner

1 - 20 of 25 Posts

·
Registered
Joined
·
2,280 Posts
Explain please...:vs_sad:
 
  • Like
Reactions: PlainCash4

·
Registered
Joined
·
315 Posts
Discussion Starter #3
larabelle few years back I had some hospital bills and a lot of doctor appointments. A lot of my debt stems from that. I started using my credit cards to pay and borrowing from peter to pay paul. I did the math the other day and I am just not going to be able to get out of this. I'm frustrated and have lost all enthusiasm. I may just close out my retirement and be done with it. Everything sucks
 

·
Registered
Joined
·
9,299 Posts
Time to look into debt consolidation or a settlement program, perhaps.
 
  • Like
Reactions: PlainCash4

·
Registered
Joined
·
423 Posts
I notice that you are in retail - maybe you could find some new opportunities. It appears that there are lots of choices in VA, most of them probably pay more than retail.
Roanoke, Richmond, Norfolk, and so on. The Aerospace assembly lines pay well - they have 30,000 workers, probably need many more. The Defense Industry is currently hiring new people all over the country (our local Raytheon plant was looking for 2000 more workers to build Tomahawk Missiles.)

1. Agriculture: By far the largest sector of the economy, agriculture has an economic impact of $52 billion annually and creates hundreds of thousands of jobs, according to Virginia's Department of Agriculture and Consumer Services.
Naturally, farmers compose a substantive portion of those jobs. Virginia has more than 40,000 farms, which occupy over 8 million acres of Virginia land, constituting 33 percent of its total land area.
The most commonly farmed crops are tobacco, grains, corn, peanuts, and cotton. Other prominent agricultural subsets include wine production, horse and cattle breeding, and aquaculture, including numerous fisheries.

2. Aerospace: There are over 200 aerospace firms currently operating in Virginia. They employ more than 30,000 workers at well-known companies like Lockheed Martin, Raytheon, Orbital Sciences, Boeing, and even Rolls-Royce, according to YesVirginia.org. No other state has fulfilled as many aerospace contracts for the federal government in the past decade as Virginia, truly earning its status at the top industry in the state.

3. Mining: There are over 400 mines covering 17,000 acres, which produce a wide array of resources, including stone, cement, gravel, and sand. Also mined are minerals like gold, copper, arsenic, manganese, and iron, according to Virginia Department of Mines Minerals and Energy.
Many of the minerals extracted are then used in the construction of roads, buildings, ceramic works, and glass blowing.

4. Technology: Once associated with distant possibilities of the future, nanotechnology and biotechnology are now integral facets of the present economy of Virginia. Combined, they contribute billions of dollars to the local economy annually, with computer chips representing the state's most profitable export

Virginia has a larger percentage of technology employees than any other state in the United States.
 

·
Registered
Joined
·
9,916 Posts
I'm not going to be popular here with some but if it's truly that bad sit down with a bankruptcy lawyer. DON'T drain yourself. 401K does not enter into the bankruptcy. They won't take it.
My mistake is we drained ourself dry trying to keep from filing in 2010. We should have filed before we went totally belly up. Don't do that to yourself.
Think long and hard... then if you want to know more then contact a bankruptcy lawyer. Consults are nearly always free.

If I had it to do over I wouldn't have entirely broke ourselves. I'd have done it a year sooner. Don't cash it in until you talk to one please!!!!
 

·
Registered
Joined
·
315 Posts
Discussion Starter #7
I notice that you are in retail - maybe you could find some new opportunities. It appears that there are lots of choices in VA, most of them probably pay more than retail.
Roanoke, Richmond, Norfolk, and so on. The Aerospace assembly lines pay well - they have 30,000 workers, probably need many more. The Defense Industry is currently hiring new people all over the country (our local Raytheon plant was looking for 2000 more workers to build Tomahawk Missiles.)
Thanks old guy, My job actually doesn't pay so badly ( been there 10 years ) and I have good benefits. I just get really freaked out when I feel like I am in a mess like this. Sometimes you just have to have a melt down for a few days to get back on track.
 

·
Registered
Joined
·
315 Posts
Discussion Starter #8
I'm not going to be popular here with some but if it's truly that bad sit down with a bankruptcy lawyer. DON'T drain yourself. 401K does not enter into the bankruptcy. They won't take it.
My mistake is we drained ourself dry trying to keep from filing in 2010. We should have filed before we went totally belly up. Don't do that to yourself.
Think long and hard... then if you want to know more then contact a bankruptcy lawyer. Consults are nearly always free.

If I had it to do over I wouldn't have entirely broke ourselves. I'd have done it a year sooner. Don't cash it in until you talk to one please!!!!
Thanks Niko San,

Its really just a strong thought for now. LIke I told "old guy", sometimes you have to have a meltdown for a few days to get back on track :distress: I'm not maxed out or anything, I just don't like being at this level
 

·
Registered
Joined
·
9,916 Posts
Thanks Niko San,

Its really just a strong thought for now. LIke I told "old guy", sometimes you have to have a meltdown for a few days to get back on track :distress: I'm not maxed out or anything, I just don't like being at this level
If you have any questions you can message me. I'm not on all the time but I'll catch it if the message light works.
 

·
Registered
Joined
·
553 Posts
Absolutely do not take anything from your 401-K. If you've reached the point of no return with the credit cards, talk to an attorney about Chapter 7 bankruptcy. No need to fall on your sword it is not the end of the world. In fact, if you've learned to never fall into the credit/credit card trap again, then a Chapter 7 will provide you a clean slate and a new beginning. It will be tough but you'll survive and hopefully find a brighter future.

Again DO NOT TAKE FROM YOUR 401-k. Those funds will be exempt in bankruptcy so don't rob your future in a futile attempt to pay the credit card companies.

Also, don't wait to see an attorney because its best to file a Chapter 7 before lawsuits and garnishments start raining down on your head.
 

·
Registered
Joined
·
431 Posts
I have no answers, but am sorry you are going through this. I've made plenty of mistakes and hope to get back on track myself. My vehicle was a total loss after a bad car accident. I just financed a new vehicle with a large downpayment to make the monthly payments manageable. I am fortunate that I have my family's( my sister) support. I leased the first vehicle ( duh) and the settlement didn't cover it. I owe a bit on that. I am grateful to be alive with some minor injuries. It gave me a new lease on life( no pun intended) and a new perspective and incentive to do the next right thing as I go along my road.

I think though that the bankruptcy lawyer consultation is a good idea.
 

·
Registered
Joined
·
23 Posts
larabelle few years back I had some hospital bills and a lot of doctor appointments. A lot of my debt stems from that. I started using my credit cards to pay and borrowing from peter to pay paul. I did the math the other day and I am just not going to be able to get out of this. I'm frustrated and have lost all enthusiasm. I may just close out my retirement and be done with it. Everything sucks
Are you taking any new debt in bills from doctors? Or are you ok now and will be ok in the future? 7-10 years?
 

·
Registered
Joined
·
671 Posts
Going forward, if you, or anybody else reading this has medical bills , there is a lot of help out there that people do not use. Plus most facilities do not charge interest. They may send you to collection, but they will not sue anyone who truly doesn't have the resources.
I worked in healthcare billing for 30 years, so I can give you lots of ideas if you need help.
edited for spelling
 

·
Registered
Joined
·
315 Posts
Discussion Starter #18
Absolutely do not take anything from your 401-K. If you've reached the point of no return with the credit cards, talk to an attorney about Chapter 7 bankruptcy. No need to fall on your sword it is not the end of the world. In fact, if you've learned to never fall into the credit/credit card trap again, then a Chapter 7 will provide you a clean slate and a new beginning. It will be tough but you'll survive and hopefully find a brighter future.

Again DO NOT TAKE FROM YOUR 401-k. Those funds will be exempt in bankruptcy so don't rob your future in a futile attempt to pay the credit card companies.

Also, don't wait to see an attorney because its best to file a Chapter 7 before lawsuits and garnishments start raining down on your head.
Thank you Anna,

I feel much better just ruling out the 401k thing alone ! I cried every time I thought about it Also our stock at work is rising and I have more vested shares in a couple of weeks and I have a "windfall check" coming up in July ! If I can just pay off the lowest card I will feel on track (somewhat) again. I'm gonna wait until the fall and see what happens.

Thank you again for your advice.
 

·
Registered
Joined
·
315 Posts
Discussion Starter #19
Are you taking any new debt in bills from doctors? Or are you ok now and will be ok in the future? 7-10 years?
I have a colonoscopy coming up simply because my doctor wants to. HE says "i'm at that age" (sigh) My annual physical was good and all my blood work is good. My insurance should cover a lot of the colonoscopy and what it doesn't cover I should have some money left on my flexible spending card. It will probably cover just about all of it since its preventive.

Other than that, that's it
 

·
Registered
Joined
·
671 Posts
You will have a bill from the surgeon, and the facility. Colonoscopy usually does not require anesthesiologist.
Look at your insurance plan or call HR. Find out for sure what preventive pays, 100%, 90%, maybe 80%. Also find out if the procedure is subject to deductible. Find out how much the procedure will cost, from both the surgeon & facility. If it costs $3,000.00 & you have $2,000.00 deductible, you will owe it. So if you find out you will owe any amount, before the procedure, approach the doctors office & facility & ask if they will accept a reduced amount if you pay up front. Every bit you don't have to spend you will have for the next need.
Remember this is an elective procedure. If it is not a good time for you, you have the option to reschedule.
 
1 - 20 of 25 Posts
Top