I have a matter my oldest son ran up a major credit card bill, my husbands car dealership has gone out of business, a tornado hit our house, i am currently pregnant with a child who will have severe back problems, my second son dropped out of high school to help with bills and the business. I have already dipped into my childs 20000 dollar college fund and we are in debt up to our eyeballs with hospital bills, credit card bills, backed up insurance, and fixing our home. How can we get out of this mess!?
2007-03-10 09:07:17 · 6 answers · asked by Love Sick 1 in Family & Relationships ➔ Family
you can't... have a nice day.. :D
2007-03-10 09:10:42 · answer #1 · answered by Forlorn Hope - returned 6 · 0⤊ 1⤋
Maybe a home equity loan or refinance your home if possible. If not, you should seek a credit counselor to help you get these bills under control. They will work with the people you owe and come up with a payment plan that you make once a month instead of paying all your bills separately and less than it would normally be each month. Find someone reputable though. I know this service is provided through the United Way office, too so check with them. Good luck.
2007-03-10 13:19:59 · answer #2 · answered by vanhammer 7 · 0⤊ 0⤋
Hate to say it. You may want to liquidate the entire college fund - after all, when does your family need that money the most? - right now. Because unless you have ultra-loyal friends/family with serious money to loan/give, you may have to consider bankruptcy. Talk to an attorney because when you liquidate the fund and into what bank account it goes may determine whether your creditors can attach it or not even if you do not declare bankruptcy.
But first see a credit counselor. Also - try to list any other assets you may have overlooked, such as cash value in an insurance policy, a vacation home, a surplus car paid for, family property in another state. You need to talk to FEMA for an emergency housing repair loan. Make sure to tell any bankruptcy lawyer/credit counseling service of your intention on this, as the premature closing down of that college fund may adversely affect your eligibility for a FEMA loan or FEMA assistance.
I'm sorry this is not much help. But one thing I can state with certainty- you have an excellent son who is proving he is truly a man. So hold your head up high - I will pray for you and your situation.
P.S: to the two who posted before me, maybe someday God will allow you to be punished for your rude and insensitive remarks to this lady in her time of need.
2007-03-10 09:22:00 · answer #3 · answered by Anonymous · 3⤊ 0⤋
Oh my God. I am so sorry, it seems that life has delt you a major blow and I am sure you feel like you will never recover from all of this. But you can. There are financial agency's that will guide you and give you better advice than you can get on this site. I will pray that everything will work out for you and your family.
As for the people that answered and we're cruel with their responses, I hope that you will never find yourself in a similar situation. Remember karma is a b***H.
2007-03-10 09:26:05 · answer #4 · answered by oneontaw 4 · 1⤊ 0⤋
cut up the credit cards and work 2 jobs
2007-03-10 11:59:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
well good luckkkkkkkkkkkkkkkk
2007-03-10 09:12:33 · answer #6 · answered by kitycat 3 · 0⤊ 0⤋