how do i get out of the red, and back on track to paying off my debts?

Question

I got a job within the place where i work at, which i had recieved a dollar paycut, but better hours. within that time my car took a dump on me, and costed 1500.00 to fix, since then i havent been able to recover, finacially.Then i got this hairbrained idea, to have all of my bills deducted from my checking account, BAD IDEA! when your clueless, as to when all the bills are comming out of your account!(my fault i'm bad at that) My heart was there, but the money wasn't. since then i have no room to move, or buy gas, or buy scotch tape, or anything for that matter. i have commenced to sell my furniture on ebay, so now( after the new year ~ i have nothing to sit on, but you gota do what you gota do! right?)(still waiting on check so the new owner, can pick up the furniture)so short of stopping writing checks altogether, so my account will balence out, but i gota pay rent, and feed my son what do i do? my chk. was just deposited today and its gone! have already done a fresh startwithbank

Answer 1

Get yourself a sugar daddy to help pay your bills.

Answer 2

This actually varies based on state and what kind of debt they are. If they are simply a bill, they are removed as soon as you pay them off. Now if it is a "debt" and has gone to collections it works differently. Each state has it's own laws, some states it is upward of 3 years while others go up to 7 years (most are the latter). Now, if you pay a debt off they can remove it right away, but they can also do what is known as a "write off" which hurts your credit the same as basically a "bankruptcy" meaning you will have to work on rebuilding your credit even with it removed. You may want to look up your stat laws, a company is only allowed to "talk" to you about them for so long before it is required by state law to be written off, unfortunately for me that is the 7 years. Other states have 3, 5 and 7 year laws. This means if you live in a state that has a 3 year limit law, after 3 years they can no longer collect it. But there is a catch, they can reset the clock on you if you ever say something like "I'll try to pay" or "I plan to pay" or any other "verbal" agreement to pay them. So hold your ground and tell them, "I have no money sorry." then if they won't let you off the phone hang up. Also, there are laws about how they are able to contact you. You may request "No calls", this means they are no longer allowed to call you through the debt collector only the original company can then call you, thus the collector will have to send you snail mail to talk about it. Best method for this is to simply answer the phone and ask upfront the company name, the persons' rep ID (they must give you this if they won't ask for there manager), and the phone number to contact the company. This information can be used to file a claim against them, which can have the debt removed with out having to pay it (though it is usually written off). Hope that helps. There are so many laws out there, and I knew a debt collector and all the rules that were based around me so it helps to get informed of your rights. When companies break those rights they tend to do whatever, including wiping the collection to prevent any issues. -Saint

Answer 3

I have been where you are for years now. I am now 29 years old and have built myself back to sufficient credit. Not good mind you.

Your best bet is to cancel all the autopays and do it yourself. Its very important to write a budget. The problem is most people that write a budget write it by month. I strongly suggest doing it week by week, and being very careful to consider future payments like car insurances that happen every 6 months.

I would consider asking for assistance. You have child involved so you truly have to avoid all false modesty and take the plunge into asking for welfare assistance. More important then pride to take care of your son. I have 4 kids and I surely know.

Why aren't you getting child support? You should consider that too, if your not getting child support then asking for help is very important. You deserve it.

Good luck I really wish there was more to it. Just finding more financial responsibility is the only true answer. Perhaps a parent or a friend that has good financial standing can help you. Talk to them.

Answer 4

Hi,

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Thanks,
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Answer 5

Start with a book "The Total Money Makeover". It may be at the library.
Listen to the radio or on the internet when you are home for The Dave Ramsey Show. He has a plan that will work for you which he calls "Baby Steps". That label has nothing to do with your age.

Answer 6

just reduce your bills and increase your savings. the safest simplest way