I've got debt problems?

Question

I've gotten in over my head. Some of the debt is my fault but I was recently hurt in a seriously bad accident and now I'm in BIG debt. The helicoptor ride alone was almost $12,000. I'm suing the kid who hit me but until I win in court, which could take up to two years, I have to pay for everything. I'm about ready to lose my house. I feel like such a failure. I have a wonderful husband and two beautiful children. If anyone knows of a program that would help me with my debt or something like that please let me know. Just in case you're wondering no I didn't have insurance. We couldn't afford to. Thank you for reading my question.

My husband is my only inspiration. He's what makes me whole. He really does try but I had a sereve head concusion, 6 stitches and had to do speech therapy, broken arm, dislocated shoulder, a huge piece of my shoulder bone completely broken off, and other small things. I've had to have family members come up and take care of me as well as MY children. My family and I aren't getting along so well now so my husband getting a second job is just completely out of the question. I can't take care of my children alone. My husband is the best man I could have ever asked for, I'm truly blessed to have him in my life. Thank you.

Answer 1

National Foundation for Credit Counseling
[phone]
www.nfcc.org
Also known as Consumer Credit Counseling Service (CCCS)
Based on your area code, your phone call will automatically be plugged into the NFCC office nearest you.

You have to be careful with who you choose. There are a lot of companies that are just out to take more of your money. I trust Suze Orman though. She's a well known financial advisor. You should visit her site.
You might want to look in to bankruptcy as well since it's mostly due to medical expenses. I know it sounds scarey but it might be the same or better than a consolidation company.
I know your frustration. I'm sure everything will get better.

Answer 2

I've had a hard time, and gone bankrupt as a single mom. So, I hear you.
One thing, though. Aside from the very true things others have written in.
You say, "I have gotten in over MY head."
But you have a husband.
It seems like one of you is putting this all on you, like it was your fault, etc.
During this very difficult time, whatever you both decide to do, or find possible, I hope for your whole family that you are in this together. I hope I'm a little too sensitive to what I read in the subtext.
Now, should anything go hooribly wrong for your family, you might want to make a media case of it or something.
No, seriously, the squeaky wheel gets the grease.
Maybe even a local fund will go up for insurance, or for your family.
The state of health care these days is insane.
Been there, w/oinsurance, and I'll leave it alone. My illness caused something similar, so I feel your pain, in some general way.

Answer 3

I am so sorry to hear that and yes that is outrageous isn't it?

Do not feel like a failure as you did not plan for this to happen did you?

I wish I could help you on the Financial program bit but I am not an expert and I would suggest at the very least that you seek out a Subject Matter Expert.

Perhaps some kind of debt consolidation program where you could scatter the debt over a 30 year period.

Good luck and god bless.

Answer 4

i'm about to embark upon a DMP with the CCCS. it truly is going to take me 9 years to sparkling my expenses and then it truly is going to stay to inform the tale my credit status for a extra physically powerful 6 years. It does seem so long away and that i too might want to opt for to purchase a house faster or later. i'm thinking utilising for an IVA. those very last 5 years and also you get a tremendous type of your debt written off and it in reality continues to be on your record for six years - start up to end. have you ever considered an IVA or financial ruin? they could seem severe, fairly in the couple of minutes period yet after 6 years you're thoroughly freed from debt with it off your credit record. also, my debt consultant on the CCCS stated even once you've previous undesirable expenses on your credit status you could in time come across a lender, even with the reality that likely at a larger fee than others. I advise you call the CCCS (shopper credit counselling service) it truly is a charitibale company. they're going to propose you. sturdy success, and that i understand its puzzling yet attempt to appreciate that money isn't each little thing - you've a husband and babies - it truly is valuable. it truly is going to workout consultation in time :-)

Answer 5

Since you are suing, the hospitals and doctors should be patient. If not have your lawyer write to them. As you have learned, having insurance is less expensive than not having it.

You are required to go through credit counseling before you can file for bankruptcy. Make and appointment with a good counselor and see if you have any options.

For now only pay your mortgage, utilities and food. If you have anything left apply it to debt. But you should be able to save your house if you keep the payments up.

Speak to your attorney and see if he can help you renegotiate your debts. Many credit card companies will give you a three to six month payment holiday if you ask.

Answer 6

Have you attempted to contact your creditors by letter to explain the situation? Since details of the 'hit' were not included, it is difficult to determine what course of action to mention. As you did mention that you have a lawsuit pending, I suggest that you ask your attorney for the litigation if filing for bankruptcy protection is a viable option. As your case may be on a contingency basis, I suggest that some of the remaining monies be used to retain a Bankruptcy Attorney and the debtors repaid from any award settlement, if any. Attorneys have different areas of law that they represent; so, a personal injury attorney does not necessarily 'take' other types of tort litigation or special legal representation such as bankruptcy protection. Speak with your attorney about the advantages or disadvantages of such an action...and whether it would have any bearing on the case that he is building for you.

Answer 7

I would work with your creditors, doctors, etc. by hiring an attorney. Working for a doctor, I know you can get a lien, so you can get treatment and the doctor will wait until you get a settlement. Call your creditors, explain the situation, see what help you can get from them. You do not have car or medical insurance? Credit counselors sound great when you are in MAJOR debt, but it is best to try to work with your creditors. Good Luck

Answer 8

If you can't work right now you're husband is just going to have to provide for his family. He needs to get a second job and keep your heads above water. In the meantime he needs to pay the pills until your case settles. If you are able to earn money you need to help. Don't just be passive about this. As far as the medical bills go, just make payments. Even as little as $5 a month, but you need to keep paying them.

Answer 9

I suggest reading how to deal with the creditors. And maybe sell the house (so it doesn't get repoed) and rent something small while you work all this out. Maybe the equity of your house can help with some of the bills.

The Total Money Makeover by Dave Ramsey steps you through how to deal with creditors and how to set up payment plans, etc.

Keep healing and blessings to you and yours

Answer 10

Look into The Total Money Makeover. The book is available at any bookstore, and the author is Dave Ramsey.

It gives you gameplan to help eliminate debt, and avoid bankruptcy.