This year has been extraordinarily difficult and I’ve had to use the money that I was setting aside for property taxes which are due in Jan and Feb. They give you till the end of Feb to pay without penalties. Credit cards and title loans aren’t an option, those have already been tapped this year as has the Roth which was depleted anyways because of previous problems years ago. About the best I could hope for would be to borrow against my 403b but again due to serious problems a few years ago (including being told I would be dead within two to five years by Doctors), I never amassed anything significant there and actually nearly lost track of having it. It would only be enough for maybe half of the property taxes. There isn’t any equity in the home that can be drawn on, I’ve only had it for a year and aside from antique computers, I have nothing to sell. There’s a benefits retirement program but because I had a backup job that reactivated the program when I lost my job in April, I can’t touch that money at all unless I quit my job. Also that money may have gone into the State lost funds thing because I lost track of a lot when I was really sick a few years ago. So now with maybe four months max to save up for property taxes, which means it isn’t going to happen, what’s going to happen when I can’t pay the full bill by the end of Feb? Should I file for forebearance from the mortgage company? The Obama MHA would require an escrow for the taxes to be established, if I can’t save up enough for that by the end of Feb, how could I establish an escrow for that amount? Should I let bills go into arrears to save up for the taxes? Should I just declare chapter 13 bankruptcy?
I should probably add that I’ve lost a third of my income. I had a backup job already arranged when I lost my job in April but it was at two thirds the pay with better benefits. My girlfriend also had legal problems that I sorted out for her but that has left me with a budget that doesn’t balance. I’ll make it balance somehow, I have to. But loosing one third of my wages is loosing over k. I’m in a serious negative cash flow situation. I should be able to pick up some contract work, that should bring in up to 20% more cash but that’s not a certainty. Can’t ask family, sister had a stroke and is about to declare bankruptcy if the hotel folds. Probably need a DMP to make budget work.

Technorati Tags: 403b, antique computers, arrears, backup job, budget, chapter 13 bankruptcy, credit cards, doctors, escrow, forebearance, four months, girlfriend, mha, money, mortgage company, property taxes, retirement program, title loans, two thirds

I have a relative ("Lou") who is in debt. Lou is in his early 30’s. The debt is more than K. Lou seems depressed, and I believe spends (restaurants, clothes, etc) as an escape from real life. In the past, the family has repaid Lou’s debt without conditions, but every time more debt appears later. This time, the family offered to refinance the debt only if Lou hews to a budget. Lou is resisting the budget since it imposes controls that any adult might resist. Plus, Lou is worried about his life being in too much flux and not being able to guarantee he can live within the budget. The only alternative is for Lou to default on his debt. We don’t really want that because of the long-term implications of bankruptcy. We also worry about pushing Lou "over the edge". There is no drinking or drug problem. There may be a gambling problem. What do we do? Lou refuses to go to counseling.

Technorati Tags: adult, bankruptcy, budget, clothes, counseling, drug problem, gambling problem, quot, restaurants, term implications

When my ex and I split up and child support was set up, I made a budget that fit the income. After a few years, my ex quit his job to get out of child support. After finding where he was working and turning it in, he would quit again to move to another job. I used my credit cards to fill in the missing money thinking i would pay it off when he started to pay again. Well that didn’t happen. Now I am filing bankruptcy after cutting everything we used to do out. I will be able to pay the bills with my own income when this is through. My daughter sees that I am stressed and hears the collections calls. Do I tell her the whole truth? I don’t want to seem like a complete failure in her eyes like i can’t handle money and she lost everything she used to do because of my incompetence. We wouldn’t be this bad off if he didn’t run from his responsibilities. But I don’t want to make her hate her dad.
She is 13 years old. Her Dad rarely sees her because it is now his turn to enjoy life since he started to have kids at 20(he is 42 now- and that is a quote from him) He has a 21 year old son from a first marriage living with him who he makes pay all the bills in their house. That son is going to move in with me next month because he has been wanting to go to college but hasnt been able to since all his money goes toward the household expenses(he works 60 hours a week at a little more than minimum wage and he is not my biological child)
This is for the people who asked how much he was in her life and how old she was.

Technorati Tags: 13 years, biological child, budget, child support, collections, credit cards, dad, failure, filing bankruptcy, household expenses, incompetence, job, marriage, minimum wage, missing money, whole truth

We have been struggling month to month to make our car payment, which has really high interest since Jan. of 2007. At the time the dealers told us most people just take the high rate and refinance after 6-18 months, well we’ve had the SUV for two years now, and no one will refinance, and my husband is getting out of the military which doesn’t even pay enough, but it pays for your housing, so we are looking at a thousand less a month to stretch our budget. I’m wanting to file for bankruptcy, but my husband is insisting we don’t. Is there another alternative?

Technorati Tags: bankruptcy, budget, car payment, getting out of the military, high interest

Me and my Husband both have horrible credit, due to poor choices made a few years ago. Times got really hard and I just had to let things go. Times are not the best, but I am learning how to better jude money, something I had no idea how to do when I first got on my own.

I have two credit cards in collection,3 light bills, 3 cell phone bills, 1 cable bill

My husband has 1 credit card, and a bunch of medical bills

We have 1 loan now that we have been trying to pay on since we let everything go. We are so far behind on the loan, we gave them 650.00 of income tax… didn’t catch us up and intrest is killing us big time. Also unable to pay the full amount each month
the only thing in good standing is my car, and thats been real hard to do and its never on time.

So the loan is my main thing, I have no idea what to do about it, and I feel like I can never catch up

what should I do?
to guy # 2 no i don’t think that is hard, I already do all of that, and I actually have a prepaid cell phone with NO MINS. My house gets paid first, then my lights, then my car ins and then my car note, and then I buy food. Yall don’t understand I have learned my lesson, and I do budget my MONEY. however money is very TIGHT right now !
and to getting a sencond job, thats impossible. My husband already works 10 hours a day and is gone for 14 (driving time ) and he is almost disabled due to a back injury. I work as much as I can but due to babysiter issues can only work so much
BY THE WAY :

I asked if I should File Bankruptcy

NOT what to do to get out of debt, Because I know how to try and its NOT WORKING ! ! !

Technorati Tags: back injury, bankruptcy, big time, budget, cable bill, cell phone bills, credit card, credit cards, driving time, income tax, ins, job, light bills, medical bills, money, poor choices, prepaid cell phone

I am in the process of filing chapter 13. My trustee recommends that I seek the advice of a lawyer. However, a lawyer is not in the budget right now. The trustee says that only a few cases will be successful without an attorney. Are there any trustees or attorneys out there that could give me a few tips for making my own case successful? Any sure fire ways to be sure I am successful on my own with this case? Any advice would be greatly appreciated. Thanks.

Technorati Tags: attorneys, budget, chapter 13, lawyer, trustee

Ive attended the 341 meeting and now I am waiting for the judge to approve. The lawyer has made several mistakes, canceled meetings with me and is not returning my calls. I am really getting concerned. The trustee has already reset my court date due to my budget the lawyer made isnt acceptable to her!

Technorati Tags: 341 meeting, budget, lawyer, trustee

I have really good credit. My fiance made some really bad decisions in the past and has terrible credit. (credit cards, overdrawn bank account car loan …..) We are buying a home . We are planning on getting married next year. I am wondering would it be better for him to consolidate his bills and us try to pay them off or should he just file banktruptcy? We plan on doing something before we get married. We dont have any savings and I have a child and he has three from a previous marriage that he pays support for. My concern about debtconsolidation is that we wont be able to make the payments with everything else we are having to take care of. How bad is a debt consolidation or bankruptcy going to look when we do tie the knot if I have really good credit. Also what kind of affect does that have if any on employment?
I am already buying a home so that is not an issue
I am also being told that chapter 7 and chapter 13 affects your credit in the same way and tat both stay on there for ten years
He no longer has credit cards or bank accounts. All of these things on his credit have been on there since before I met him. I asked for financial advice not for someone to make negative comments about bad decisions made in the past. As for having a budget we already live togather and pay all the bills togather We already have a home that we are buying.
We both work. Who doesnt?

Technorati Tags: bad decisions, bank accounts, bankruptcy, budget, buying a home, car loan, chapter 13, chapter 7, credit credit cards, debt consolidation, debtconsolidation, fiance, financial advice, knot, marriage, negative comments