I am not one to ask for financial help but, I am truly way behind on my bills like house payment,car,car ins, and all the other bills that come with owning a house. I am 26 and have a wife and a 2 yr old daughter. I just can't catch up. I am afraid of loosing everything. You know it really hurts me inside when I can't provide for my family. Me and my wife both work full time and don't go buying stupid stuff. We buy what we need for the family. I just can't make ends meet. If I can just caught back up I should be ok. But I need help. Please someone help. I am sorry if this sounds like a sob story, but I don't know where to turn. Please please help. I went to my state agency and they said my house payment is a luxury and they can't help unless I live in a trailer or rent. I think that is B.S I work and always have but you get people who are to lazy and get everything handed to them from all over the state and federal government.
2007-09-14 16:09:11 · 5 answers · asked by David R 2 in Business & Finance ➔ Personal Finance
to themom... I am not crying I just got my hours cut a little bit and with all the stuff going up I just cant afford it. My house payment is not that much. Just fell a few months behind and cant catch up. don't be rude. Some people do struggle and live paycheck to paycheck. I do what I can with waht I got.
2007-09-15 16:08:03 · update #1
I don't know your actual financial situation. When you say way behind, do you mean one month, 2 months, or more? Don't worry and don't feel bad about yourself. It happens to the best of us. Things get out of control before you realize it. Your mortgage company may be willing to work out a forebearance agreement for the payments. Don't let you car insurance lapse unless the car is reposessed. First and foremost, you need food, water and electricity. Pay those first. Credit cards can go. Do you belong to a church (I'm not preaching) they may be able to help with things like food and gas money. Most of all DON'T BE ASHAMED!! Ask for help wherever you can get it. Good luck and god bless.
2007-09-14 18:24:22 · answer #1 · answered by livigninchrist! 2 · 0⤊ 0⤋
You either have to cut your expenses or increase your income. Do you have car payments? If so you need to sell the cars and buy yourself a GOOD USED car for CASH.
Do you have cable? Internet service? A cell phone? Do you pay for a gym membership? Get rid of the luxuries. Have you eaten out in the last week? Do you take a sandwich for lunch?
If you can't afford your bills, perhaps you need to consider selling your house and downsizing.
Either get a BETTER job, or get a second and/or third job. You can deliver pizzas in the evenings. Your wife can babysit. One of you can get a retail job on the weekends. Etc.
As far as getting caught up and out of debt...
Call all of them and work out a payment plan and try to get your interest lowered or stopped.
Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.
You proabbly need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don't eat at a restaurant until your debts are under control.
Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.
Go to the library and get "The Total Money Makeover". Read it and follwo it carefully.
Go check out Dave's website as well.
www.daveramsey.com
2007-09-14 23:19:41 · answer #2 · answered by Anonymous · 2⤊ 0⤋
I suggest you speak with a Financial Planner. Not someone who calls themself a Financial Advisor or anything else like that. You need the advice of a certified Financial Planner.
You can find reputable ones through your local bank.
They will review your situtation and advise you of your option.
Best of luck.
2007-09-14 23:15:08 · answer #3 · answered by whuz007 3 · 0⤊ 0⤋
Go to this site: http://www.nfcc.org/ . They are Consumer Credit Couseling Services (CCCS), a legit non-profit company. They offer free credit counseling and have a debt management program available, if you qualify, for no fee.
They can look at you specific financial situation and advise you on ways to deal with your debt.
2007-09-15 00:44:50 · answer #4 · answered by bdancer222 7 · 0⤊ 0⤋
I agree with your state. You picked your house, and how much it would cost you each month. You need to sell this one and buy another that you can afford. The same goes with your car, you did not have to buy one that cost more then you could afford.
You are in your situation by choice, please don't come crying about it.
2007-09-15 15:11:46 · answer #5 · answered by Anonymous · 1⤊ 0⤋