Im recently divorced and have two small kids and of course I fell into a pit of debt to keep a roof over my kids heads after my husband left. I sold my home but I cant get beyond the small loans I took out to stay afloat right after my divorce. I have a steady job, but my credit is ruined and I cant get out of this debt hell? Can Anyone give me advice or know anyone who gives personal loans for bad credit.
2007-05-15 08:13:33 · 16 answers · asked by Anna 2 in Family & Relationships ➔ Marriage & Divorce
I wonder some time what happens during a divorce that everyone seems to get bad credit.
I went thur a divorce, my ex empty the checking account, and the savings account. I only had my paycheck each week to live on.
I did not get into finicial trouble. I lived so cheap. I never purchased any new clothes or shoes during that period. I went to work and came directly home. I got rid of cable, I got rid of my regular phone, only the cell phone minimal service.
I had not credit card debt , if I did not have the money I did not buy it. I budgeted my grocery bill (lost 50 pounds) . Did not eat out , took my lunch every day to work.
I paid my lawyer each month . I paid my detective each month. I did without so I did not have a big debt till my divorce was over with and everything was cleared up. In fact I took on a second job to help out and I was working 70 hours a week for 2 years. I did not order pizza out or go out until I could afford it. My budget was so tight I did not buy a can of soda that was not in my budget. My kids knew how tight our budget was and did not ask for things. Our Christmas was homemade gifts for 2 years. They were the best Christmas ever. On their birthday, a homemade cake and dinner out at McDonald was a thrill for the kids.
My divorce cost me $10,000 and my detective $5,000 but I owe no one anything after the divorce was over.
People live way beyond their means and do not know what doing without really is anymore. If you tell someone they can't have cable or internet they think they are going to die.
Call your credit card companies and see if they can stop the interest , and finance charges. Tear up your credit cards till you get your credit straightened out.
2007-05-15 08:29:39 · answer #1 · answered by springer 3 · 1⤊ 1⤋
It will take time, but you can and will get your credit straight someday. I would just forget about trying to get more loans and take care of the ones you have. Don't be buying anything unless it is a necessity.....Nike tennis shoes are not necessities....you can find new things at Salvation Army stores. You have a steady job, but do you make more than minimum wage, or are you making below poverty level. If you are below poverty level you should go to Public Aid for food stamps, and if necessary a Medical card for your children, and some states give funds for the children. If you qualify for help from Public Aid, and your ex has not been paying support or providing medical coverage for your children, the state will come after him and make him pay you and pay the state back.
2007-05-15 09:33:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Contact your bank for the name of a good credit counseling organization. They should be non-profit and licensed etc.
Your bank also has a person who can help you budget your money and learn to live on what you earn now.
Make living within your means a priority. That means no, you can't get your nails and hair done and you'll have to make do with last year's shoes, etc.
It's hard I know. I'm in the same boat - but with hard work and scrimping I'll be debt free in a year.
2007-05-15 08:36:41 · answer #3 · answered by Barbara B 7 · 1⤊ 0⤋
Do you live in Canada? If so, try your local Credit Canada service. A friend of mine recently tried their service and was able to cut her debts in helf and start repaying it bit by bit. My friend said if you have steady income, most financial institutions will accept a consumer propersal. That means you don't have to pay back all the money yet to declare bankrupcy. Bankruptcy would be the last resort for most people as you won't be able to do many things once you declared bankruptcy , e.g. to apply a job in a financial institutions, etc.
2007-05-15 09:03:01 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Did you not try for child support and alimony. He has to pay one way or the other. As far as your credit, that will take like forever. Go to your Social Services agency and explain your problems to them. They can help.
2007-05-15 08:36:19 · answer #5 · answered by steinerrw 4 · 1⤊ 0⤋
Try some of the debt solution companies which r helping so many people
2007-05-15 08:20:59 · answer #6 · answered by kajal c 4 · 2⤊ 1⤋
I f you can't pay the loans you already have.Its hard to convince anyone to lend money they might never get returned.If you have anything of worth you can use it as collateral and get a loan.(a car for example) ...good luck
2007-05-15 08:20:30 · answer #7 · answered by Ms.Pickle 3 · 1⤊ 1⤋
You may have to ask your parents to co-sign a loan for you.
2007-05-15 08:17:25 · answer #8 · answered by Anonymous · 1⤊ 1⤋
Sell the kids, take the money and pay your debts, buy a house, get laid, and have two more kids
2007-05-15 08:24:09 · answer #9 · answered by captcruzer 4 · 1⤊ 3⤋
Welcome to the real world. I wish I had a solution but my friend is going through the same thing. I think she's going to her parents for help.
2007-05-15 08:17:41 · answer #10 · answered by luckford2004 7 · 1⤊ 1⤋