Financial Crisis!! Advice?

Question

I know that we bring all of our problems on ourselves, so please, no preaching.

David and I took a trip to see his family (his last chance before our 3 year tour in Germany) and now we're suffering for it. The thing is--we overdrafted our account by about $50 in such small transactions ($2 here, $5 there) that with the overdraft charges we ended up with a negative balance of $500!!!!! That sent everything into a tailspin. Now, our carefully and barely balanced budget is not cutting it. We recieved notices today that our power was going to be shut off. We barely made our car payment in time for our car not to be repossessed, and our apartments made it clear we're facing eviction if the rent is late.

I've heard of resources and organizations that help people in need, but I don't know where to start. I know some things depend on who & where you are, so... I'm in Augusta, GA. We're military. We have a 10 month old baby. Ummm... I can't think of anything else that might help... :S

Answer 1

First off really think about it before you venture into those credit saving places. They initially will wreck havoc to your credit. So, if you and your husband plan to buy something in the US in the next 7-10 years, that can really hurt. So be warned....

Now, for your carefully crafted budget. Really look at the essentials first (power, water, car, etc) and take care of those. Credit cards, store cards, etc. call and see if you can make PAYMENT PLAN arrangements. When you call, talk with a supervisor and really make it known you want to stay current and give them a timeframe of when you can get all this under control. They really want to work with you. Talk with the bank and see if they can reverse some of the overdraft charges. It can't help to ask, but they will not be too thrilled, but they might since you're military.

If you still find that ends aren't meeting, then go with those credit services. Seriously, I would really use them as an absolute last resort. Try and work with your creditors. I did it and was able to get it all under control in the last 4 years and avoided negative impacts to my credit.

Best of luck to you and your family.....

Answer 2

Hey, it happens and I'm sorry it happened to you. It stinks! I would suggest calling Consumer Credit Counseling Service or CCCS. You want to work with a non-profit, not a for profit I would think. If you don't have CCCS in your area, maybe you can look up debt+relief+non+profit+Georgia and see what you find.

Might the military have a credit counseling service too? Or maybe through the EAP?

Would his (or your) family help you out of this crunch and you can pay them back a bit at a time?

Good luck. Take a deep breath and you'll get through this!

Answer 3

wow. this sounds like most months to me. haha. so did you go to the bank and explain what happened? i had a very similar problem a few months ago, and i just went to the bank and told them i made a few miss calculations and i need the 100s of dollars in overdraft fees to pay my bills and they were pretty cool about it and refunded all the overdraft money. my girlfriend has done this about 3 times as well. and especially if your military they should be helpful.

Answer 4

a million. 6/15= forty% two. -three (seeing that the signal is NOT higher than AND same to) three. (-eight)/(-eight)= a million four. (37.five/750)(one hundred)= five% five. 20/one hundred= x/25 reply: five (move multiply) 6. four/240= x/420 reply: 7 hours (move multiply) 7. Distance=(Rate)(Time) so... Distance/Rate= Time 3500m/one hundred seventy five m/h= 20hours eight. three(x+four)-6x 3x+12-6x<-nine -3x+12<-nine -3x<-21 Divide every facet through -three after which u get x<7 nine. five/one hundred= x/320 x=sixteen (move multiply) 10. 6/one hundred= 18/x x=three hundred (move multiply) GOOD LUCK! (move multiplication is vital! If u want me to provide an explanation for how u do it, simply ask!)

Answer 5

Why don't you ask his family for money, since it their fault you are in this mess in the first place!!