2 kids and going broke?

Question

How does one get ahead? I work full time, I need a loan and have terrible credit. Spend days crying because my husband and I both work and still are in debt. We don't have any bad spending habits - Unless you call feeding your kids bad - Does anyone know of a lender who will provide an unsecured loan to someone with bad credit?

Well folks, the debt started before I became a mom. My own mother used to use my SSN, so that shot down the credit. Just as I lost my job a few years ago my brother was killed and unemployment went to funeral expenses, then the car got reposessed. You see, it just builds up and doesn't get better. I hope that shed some light. Thanks to all who posted! :)

dezmodnar - THANK YOU!!!!! :)
Best answer!

Thank you to all who have answered, nicely and otherwise :)

Answer 1

DON'T BORROW!
Review your living style.
Of course you'll say you can't cut down on anything.
Everyone says that at the start.
Food:
Don't buy fast food or prepared food.
Go grocery shopping and buy the sales.
You'll have time to prepare it because you should get rid of the TV cable.
Read books for entertainment.
Shop for your children's clothes at 2nd hand stores.
Spend nothing as respects entertainment.
Have friends over and talk, instead.
Talk to them about the books you've read.
Stop buying for the apartment ....even little things of $10.00
Can you do without the car?
Or at least a smaller, simpler car?
Pay your obligations FIRST.
Put nothing on credit.
Its cash or do without.
Not a nice way to live, but do it for 2 years and you will not only feel proud, there will also be a few extra bucks around you'll wonder where it came from.
Borrowing will only get you further in the hole.

Answer 2

look into debt consolidation, or bankruptcy if its an option. Try making a list of everything you buy daily so you can see where your money is going and what you might be able to cut out. Get rid of your credit cards they only cause trouble, eliminate bills that you don't really need to have like the Cable TV.... kids can read books or play outside. library's lend you books and videos free of charge. There are ways to reduce your debt and increase your spending money, you just have to find out where its all going first. Good luck

Answer 3

if you have bad credit, you shouldn't take out any more loans...your already in over your head and having another bill to pay will not help at all, quite the opposite in fact. Go to your bank and see if they can consolidate your present loans for you. I'm not trying to be insulting but if you don't know what that means it's where a bank will pay off all outstanding debts (not including mortgage) and now you have just one loan, one payment to the bank. A lot of banks are very happy to do this (at least here in Canada, my husband and I did this twice while we were raising our kids). Approach your bank with this idea and if they won't do it....go to another bank....keep trying.
Good Luck!

Answer 4

You need Suze Orman.
I hate to say this because I know you are probably not wanting to hear it, but you need to take on extra work.
You could babysit on your days off, or your husband could mow yards or do small jobs for other people.
A loan is not the answer.
No excuse for bad credit. You need to work on getting your credit score in line. Pay your bills on time. Do not use credit cards. Make payment arrangements with your creditors and work hard. Its the only way.
Good luck.

Answer 5

I've been trying myself. I'm behind in my mortgage and need a loan to consolidate my debt but my credit score is bad. I called H & R block. they are direct lenders not brokers. Although they could not help me they did give me advise on how to consolidate some of the loan myself month by month and see if that would get my score up enough. He will revisit the situation in 4 months. Thats here in the US. Hope that helps.

Answer 6

First and Most importantly your kids are not factored in to this little deal. If your mother committed identity theft she should pay the consequences, not you and your husband. BUDGETS work and also partime jobs. Grow up and be financially wise and prideful that you can be trusted and are good for your word. Have you taken a money managing class and understand the disbursement of funds according to need, housing 20%, AUTO 10%, MEDICAL, UTILITIES, ECT? I think you are uninformed and frustrated, take back your power, the whining will stop too!

Answer 7

I was in a similar situation. My husband I I were really living over our heads. we cut back on everything from cable to, electricity, car insurance, gas and food. That helped more than you would think.
Credit is not the answer you will only get into deeper trouble.
I also got a second job overnights to help dig us out. It sucks but you do what you have to do.

Answer 8

heh, not to me cruel or anything, but thats life. Some hit the easy life and some don't.

My last few paychecks(I am not married and have no kids) I had to fork over completely to my dog's sugery bill and my hospital bill and finally got it paid off, and as soon as I did, my other dog got sick and now I have to pay for those medical bills. I told my grandmother this, and she just told me "thats the way life is, you will always be paying something off and you will never have enough money to do what needs to be done, so just make the best of it."

Answer 9

the only thing I don't understand that how did you get into so much...

sure feeding your kids is not bad...but I don't think that no one can go overboard by feeding kids and endup with high debt...bad credit and work full...and also no bad spending habits

You need to track yourself and figureout what are you doing wrong...
there is something wrong....check it out

Answer 10

You could always sell or rent your kids out.

Stop using the internet to post questions and look for a better job with it.