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What do you do when your debt minimum payments are so much that with paying those and all your other bills then you go in the red every month? I've already cut down on all the bills. These are just the regular bills (house, gas, car insurance, power, etc). I haven't taken the class for awhile and I don't remember what Dave suggests to do? If I don't pay the debt minimums then it will get sent to collections.
 

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If I don't pay the debt minimums then it will get sent to collections.
Definitely. And then the collector uses wage garnishment, Tax refund confiscation, etc, to collect the money that is owed.

You will need to sell something in order to bring your budget back into balance. Your 'outgo' cannot exceed the 'income'. You can increase income by adding another job or taking more over-time. And cut outgo by selling something that was bought on time, and cancelling that debt.
 

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Dave would say, create more income. Get a temp job like delivering pizzas at night. Selling things is also a good idea.
 

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I hit that myself. I had to file bankruptcy. Was NO WAY I could make it. Pay here plummeted, lots of businesses closing and just not possible to get by...Better to let the house go sometimes in these situations and just sell off stuff for cash, leave for a place where friend/family will house you a little while and find other work...Is a viable option single or move your family back into your parents for short time while you stay with someone and look for work elsewhere if the work options are better elsewhere. BUT, have to talk to the independent landlords to get someone to rent to you within 1-2 years of bankrutpcy or pay HUGE deposit. Can SOMETHING find a lot of day work on Craigslist GIGS in some larger cities. They now have to give a credit card # to list any jobs on Craigslist so less jobs but less fraud...This saved my -ss couple of times when I ended up with short job I wasn't going to keep and had to find another job WO unemployment pay.
 

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As others have already mentioned, you will have to increase income and/or decrease expenses. If you would like to discuss some ideas for budgetting, you are welcome to post some examples of what you spend money on during a normal month. There are also several of us who earn different types of side incomes, that might give you ideas for what you can do.
 
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