Does anybody know how to get caught up on their bills.. I lost my job about a month ago. I finally found another job and now I am getting another I have got so far behind on my bills that I feel like I can't breathe.. Does anybody have any advice...
2007-11-11 10:58:10 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
The best way is to look at everything in black and white so that you do not feel so overwhelmed.
Start with a sheet of paper large enough to make a list of bills. At the top, put the titles "Name", "When Due", and "Amount Due". Once you have done that, you are looking at the total picture. On another sheet of paper make a list of what money you will have available over the next month or two. Compare both lists, and decide what you can pay and when. Make a note beside each "Amount Due" of when you think you can pay it. You are going to find that you can indeed pay some of them. Others, maybe you can talk to the business and ask if you can pay in halves or thirds for the next two months.
Another option is that some places give a relief of not having to pay a December bill because of Christmas. If you have an auto loan or other loan which does this, take advantage of it for your December bills.
Bottom line, call the creditors that are immediate and explain your situation to them. Some of them will be helpful to you, and at least that will soften some of the load.
2007-11-11 11:15:10 · answer #1 · answered by The Virgo 4 · 5⤊ 0⤋
First thing, call all your creditors and see how many are going to work with you, and how many are not. The ones who are not are your priority. But the others are still important as well. I dont know your whole situation, your amount of indebtiness, or your income, and what your cost of living is to do this right but I shall give you some suggestions. Walk or get a ride to work or take public transportation. Take your own lunch, stop eating out. No new purchases. If you use credit cards, keep only one for emergencies ONLY! Do your best to pay the bill off all at once to avoid additonal intrest. If you cant do that, then pay at least 10 to 25% more over the minimum payment to reduce your final payoff. If you have pay for TV let it go for awhile,same with computer service, you can always go to the library or find a computer some place to use. If you use a cell phone get a smaller plan or go to a paid for in advance type service, like tracfone or one of those type. Avoid using the phone unless its an emergency. Sell anything you dont use and apply it to your debts, not a night on the town. Stay out of night clubs ect. Remember there is more to why your in this situation then just your job loss. Apply for any food or health assitance you can, now is not the time to let your pride ruin the rest of your life. You may just have to tell your freinds NO about going out ect. until your caught up. You may get feed back but at least you wont be living under a bridge or in a car, or worse. My wife and I had to file bankrupcay and do all those things as well, we now own our own home, paid for. Our vehicles and all that we have is paid for. It took awhile but it was worth the sacrafice. Now we can hold our heads high and it is nice to have our pride back as well, just dont give up and remember IF YOU DONT HAVE THE CASH TO PAY FOR IT IN FULL YOU DONT NEED IT! feel free to contact me for more help if you need it.
2007-11-11 22:38:12 · answer #2 · answered by Anonymous · 0⤊ 4⤋
Cut your lifestyle. Buy no clothes, shoes, earrings, perfumes, etc.....
Eat only beans and cornbread. Turn the hot water heater down. And leave the a/c and heater alone. Then use all the money you can to get caught up, after you are caught up, pay the debts off smallest to largest. Use the money that is freed up from one debt to attack another. Now remember, smallest to largest, not highest interest rates or whatever, just balances.
2007-11-11 11:11:37 · answer #3 · answered by outshined_81 1 · 1⤊ 4⤋
Go to the library and pick up a copy of Dave Ramsey's Total Money MAkeover. He gives excellent advice for getting out of debt. He also has a website daveramsey.com
2007-11-11 13:19:20 · answer #4 · answered by voluntarheel 5 · 0⤊ 4⤋
yes, you just have to remain steady and not let the pressure get to you.
You will get it caught up if you work at it. you just have to stick in there and make sure you stay focused
2007-11-11 11:05:48 · answer #5 · answered by jim c 4 · 1⤊ 0⤋