Shit has hit the fan for me as well. <ANGRY>

[92vig]

There seems to be a bit of the same problem with a few people on this board lately...job issues, etc. etc. Now for me as well.

-I am stuck in my lease which is burning a $1000 hole in my pocket.
-I still have to pay for my Lancer which is setting me back $300
-My car insurance is raping me STILL at $360/month with ONE car on it.
-I just got my DSM, which has tranny problems and will cost $???? to fix.
-I have no more reliable Accord since I traded that plus cash for the DSM.
-I'm pursuing getting a divorce, but letting my wife drive the Lancer on my days off.
-My credit cards are maxed out.
-I may file bankruptcy, and welcome POOR CREDIT with open arms.
-If I try to get out of my lease, they'll rape me on the early termination fee.
-I get no more overtime at work, so my checks have been disappointing.
-My wife got her hours cut at work, so she isn't bringing any money home.
-I haven't paid ANY of my bills this month other than one CC and phone.
-Including my car, I have about $30,000 in debt.
-FML.

[DJ metadelic]

First off, let me say that I'm sorry to hear about the divorce. I've never even been married, so it's not like I can personally speak from experience on the matter, but I can't imagine going through one being anywhere remotely easy. In many ways on a bunch of levels.

Next, the financial situation is also unfortunate but unlike the first topic I have a LOT of experience with this one. I worked as a loan adjuster for some time for a private loan company out of VT, and it was my job to hassle people regarding their problems with default. And that's just it. A lot of it, can be only managed properly or improperly by you.

Now I'm not trying to sound like a dick. Most of the time I heard legitimate stories from folks who were struggling, but I've also heard my share of sob stories. Or SAAB stories anyway....lol I think you just have to be a little more careful now, and focus on catching up. On the other hand, going through everything else you're going through has a direct effect on your individual financial situation. Not having your own money to spend even when married sucks, but that's usually how it goes. Everything having to do with bills and cash money should really be shared, open but with fair limit, and honest.

I have my share of financial problems right now, so that's how I can easily empathize. I've fallen a tad bit behind on my personal unsecured loan with a major lender, and have two small bills in collections that need immediate attention.

I wish you the best with receiving more hours at work. Keep on yelling in their ear!

[Masamune]

There are tons of tips for getting out of debt out on the internet, but from what I heard it actually costs more money to declare bankruptcy than to just suck it up and pay off the debt.

Great story here about a girl who paid off $14k in 20 months. There are some great tips as well at consumerist.com regarding getting out of debt and living frugally.

Some of the best tips I enjoyed:

1. Cancel cable and telephone lines (You'll get used to not watching TV in a very short time)
2. Ask for lower rates (applies to credit cards)
3. Every extra dollar you earn that isn't put to monthly bills should go to debt.
4. Paying off debt is slow, but with persistence is easily doable.

Consumerist also has some rights for you as a debtor that outlines things that debt companies can/can't do. (Garnishing your wages and constantly calling you, for instance, are things that they CAN"T do)

Take a few days before calling around and asking for better rates, it'll give you a chance to calm down and get more facts in your arsenal.

[Shag Wagon]

I just lost my job today man. So I am about to be in the same boat.

[gloryaccordy]

Jesus man I feel for you guys. It will get better! `

[Shadow1]

get rid of the lancer. you dont NEED it. find someone to sell it that can take over the payments. thats probably why your insurance is so high.

get rid of the DSM. another problem. why you traded something that was reliable for something with a history of unreliability is beyond me.

cut back on EVERYTHING you dont need. if you have cable, get basic cable or just get rid of it completely. that'll free up some money.

stop spending money on your CC. only use those for emergencies. put $100-200 and leave it alone. pay them off steadily. its your CC so the money is still yours. put $25-40 down a month til you get it paid off.

let them repo the Lancer if need be. take the insurance off it and let them take it. that'll free up money every month. its better to have a repo on your credit than filing for bankruptcy. THAT stays up there for 7 years.


the divorce? well. ive been thru it. if yall cant really be together, get it done. get her out your life if shes living off you.

i dont wanna sound like a douche put most people put themselves in these positions. then panic when everything catches up. dont panic. think clearly. dont make any stupid mistakes from here on out. THINK about everything you do. ask yourself before you spend money "do i NEED this right now?" or "what can i buy if i didnt buy this?" questioning yourself like this will make sure you think in your head about keeping food in the fridge.

stay in the house your in. it may be a $1k a month, but if you can afford it, then your better off there than on the street.

[92vig]

I guess you could say I managed finances improperly, but at the same time, I didn't. I had everything figured out while we were both making over 40 hours per week and when things were on the up side. Then they got rid of the OT, so now I'm getting my 40 and she gets 24, yet she's a full time employee. Strange how things work out.

If I didn't have insurance on the Lancer...or the Lancer period, it would be much easier. Now I'm stuck with that and even if I turn the car in to the bank, I will have no car. My Talon is in-op...still in the shop. She doesn't have a car and the Accord was hers and I gave it up. It was in her name and all.

Now things are taking its toll...if I didn't have 8 more months of this lease, that'd be about $1500 I could be saving per month. I already roasted my credit when I first turned 18...I rebuilt it and it's decent now, a bit over 700. And now it's all about to be shit again. But whatever, what do they expect...the economy the way it is, I'm sure there are millions of people in this same situation.

I say fuck it and I'll stick it to the man...let everything go back to collections and have that be it.

[92vig]

get rid of the lancer. you dont NEED it. find someone to sell it that can take over the payments. thats probably why your insurance is so high.

get rid of the DSM. another problem. why you traded something that was reliable for something with a history of unreliability is beyond me.

cut back on EVERYTHING you dont need. if you have cable, get basic cable or just get rid of it completely. that'll free up some money.

stop spending money on your CC. only use those for emergencies. put $100-200 and leave it alone. pay them off steadily. its your CC so the money is still yours. put $25-40 down a month til you get it paid off.

let them repo the Lancer if need be. take the insurance off it and let them take it. that'll free up money every month. its better to have a repo on your credit than filing for bankruptcy. THAT stays up there for 7 years.


the divorce? well. ive been thru it. if yall cant really be together, get it done. get her out your life if shes living off you.

i dont wanna sound like a douche put most people put themselves in these positions. then panic when everything catches up. dont panic. think clearly. dont make any stupid mistakes from here on out. THINK about everything you do. ask yourself before you spend money "do i NEED this right now?" or "what can i buy if i didnt buy this?" questioning yourself like this will make sure you think in your head about keeping food in the fridge.

stay in the house your in. it may be a $1k a month, but if you can afford it, then your better off there than on the street.

I hear you...as far as getting rid of the Lancer, it's not really an option unless someone takes over the payments. As I said, it's the only car we/I have at the moment. They can repo the bitch, whatever. My insurance is high because of my driving record. End of story on that.

As far as cable, sure I can get the cheapest thing and get rid of the home phone, but I already looked at that situation when I first set it up. It came out cheaper to bundle everything up - phone, cable, internet.

I have a platinum card from USBank with a $5k limit...I did balance transfers on most of the merchant cards like Nordstrom and all that bull so the balance is sitting right around $4600. My Cap One is actually sitting at $2000 with a limit of $1750. That happened on accident. One thing never posted until after another charge I had made. Whatever.

[rob_is_legend]

I hate that this is going on for ya man, but I also hate to say a lot of it could have been prevented. I WANT full coilovers, I WANT this or that, but i dont NEED it. Ive been making a point to save an X amount of money each paycheck, and I do not touch it. Of course you don't know when sh!ts gonna hit hte fan, but you need to make sure you are somewhat prepared for when it does, because trust me, as you already know, its not a matter of if, but when. My advice is to save save save save save. You'll get through it.

[bobbycos]

I hate that this is going on for ya man, but I also hate to say a lot of it could have been prevented. I WANT full coilovers, I WANT this or that, but i dont NEED it. Ive been making a point to save an X amount of money each paycheck, and I do not touch it. Of course you don't know when sh!ts gonna hit hte fan, but you need to make sure you are somewhat prepared for when it does, because trust me, as you already know, its not a matter of if, but when. My advice is to save save save save save. You'll get through it.

x2

[Reignstarz]

Vig I got the same shit going on at the moment. Although it's not really as bad as yours. I just broke up with my girl that ive been with for 3 years, Who I have a kid with and she fucking wants to bounce on our apartment and not pay shit. She actually used money out of my bank account and shit.

Luckily I dont have that much car problems at the moment but I hear you on the lease shit, It sucks especially if you have a kid like I do.

To be honest, I wouldn't file bankruptcy either. You still got parents? As funny as that shit sounds I might have to move in with mine to catch up on 800+ utility bills from the winter when everything fucking started happening.

Best of luck to you bro.

[92vig]

I hate that this is going on for ya man, but I also hate to say a lot of it could have been prevented. I WANT full coilovers, I WANT this or that, but i dont NEED it. Ive been making a point to save an X amount of money each paycheck, and I do not touch it. Of course you don't know when sh!ts gonna hit hte fan, but you need to make sure you are somewhat prepared for when it does, because trust me, as you already know, its not a matter of if, but when. My advice is to save save save save save. You'll get through it.

Oh believe me, it totally could have been avoided to an extent. And I DID have savings, then everything spiraled and now I'm left with pretty much nothing. I'm thinking of giving my car up or trading it in on something cheaper....a lot cheaper. Such as a Hyundai. That will lower insurance as well. Need a car, there's no getting around that.

[buckysaccord93]

oprah wimfrey debt diet! look that shit up! had to watch it for my financial class. you will learn a shit ton from that!

[deevergote]

The best thing to do is sit down, and write out a list of EVERYTHING you regularly spend money on. If you're unsure of the exact amount, round up. Then map out your total cash income. It sees the hours fluctuate, so plan on the minimum income.

Break it down, and see where you can cut. See what you can do as far as getting things free or cheap (buying in bulk, getting food stamps... don't let pride hold you back... it's common these days!)

If necessary, get a second job, and/or have your wife do the same. If there are restaurants within a reasonable distance from your house, servers can make decent money for relatively short shifts, and the hours are very flexible.


I remember the story with your wife. Although the situation sucks, I'm glad to hear you're pursuing divorce. However, you're both still in the same boat. Until things are final, you have to rely on each other to keep from sinking.

A friend of mine got help from some credit consolidation plan. Went from paying $450 a month in credit card minimums, to $200 a month, paying down the balances... including the $20/mo fee to the credit assistance company. I'll ask him what that company was... because some of them are scams. The one he went with clearly isn't!

If shit really does hit the fan, and you really fall behind... tuck tail and run. Just abandon everything. Break your lease, let them take the car, whatever... your credit will be screwed, but if you can't do it, you can't do it. Just bail, get on your feet again, and start fresh.

[bobbycos]

Deevs advice is good