Help Debts

Posts Tagged ‘paychecks’

I recently moved back to a small midwestern town after living in Chicago for 4 years straight out of high school. I got really great job training and enjoyed my job in a fashion/creative oriented field. I got into some debt while there and made some bad decisions such as leaving my good job to become a stripper to pay off credit card debt my parents didn’t know about. After that and a mentally and sometimes physically abusive relationship my mind was a mess and I moved back to my hometown to regroup. I was happy about the first 2 months back because it was like a mini-vacation but there are no salons here even CLOSE to the ones I worked at while in Chicago and I got paid much more there without having to pay a car bill&gas. Here, I would probably make more money working at a mcdonalds than doing hair which i went to SCHOOL for and it is making me hate what i was once passionate about and i now have the opportunity to stay with my ex for free for a few months until i get my first few paychecks and then have found a cheap apt i could move in to. I have done a lot of calculating and I would financially be better off back in Chicago but am just scared of failure, how my relationship with my ex will be, and wanting to be successful. The only thing I can be confident about is that I loved doing hair when working in the city and here I feel like a factory worker. Any advice would be appreciated, I know it’s a lot!

We have a 2004 X3 with ~31K miles. We bought it used with an extended warranty to 100K miles. We owe about K and have another 4 years on the loan. (Pmt 0/month) We are about even on the car as far as trade in goes. We are debt free exept for the car, a student loan and the house and want to start aggressivly adding to a current savings of K for emergency purposes and eventually get to where our paychecks are just for living expenses only, all other things paid off. (My husband and I both have state retirement and other retirement accounts.)
We really would like to have a bigger SUV (plan to have another baby next year), but don’t want to extend paying on a car any longer than we have too.

Any advice would be GREAT!!
Thanks!

1:

Its amazing the impact death can have on some one
the feeling can never be written
its as if you been dreaming and awaken
and your loved one is just taken
the words can never be spoken

every one tries to comfort you
and you have no clue on how much clash you just blew
its unexplainable
every one tries to hold someone accountable
every one hostel and its impossible to get along
when you’ve known some one your whole life long
it makes it harder to let em’ go
when you can still hear their voice echo and you just know they looking out below

all I wanted was the fights and pain to stop
but my wish just flip flopped
its strange how your word can twisted
it was hard for me to accept that they no longer existed
hey no longer pondered the earth I did
I don’t think it was fair I was just a kid
I didn’t really know what I wants I just didn’t want it all to get physical
but I guess most people don’t see it at my angel

I miss you ever day
even though its going on 4 years your still deep in my thoughts
I love you

#2:

I can’t afford to spend it
but some how I got it in my head that it’s only a little bit
but it all ads up real quick
all the cash I blow I act like I’m rich
I swear all this green is toxic
I be buying stake dinners maxin it
saying put it on my credit
buying clothes saying take it from the debit
go home and throw em’ in the closet

I buy my shoes in bulk
and all of them got the niky mark
wear em with a hoodie you could say that it’s my trademark
I get money in my hallmarks
spend it up like a hungry shark
I always got it on hand almost like my birthmark

I act like I got the money but really I can’t afford to pay the rent
but most my wants are meant
at the end of the month I spent almost every cent in my check
this is why in debt
this is why I compare my life to a shipwreck
some times I wish I had them paychecks on deck

this is why my money suddenly just flows aways
this is why my life turned out this way
I can’t believe I go out and blow my check every week
every cent I earn from Monday all the way to Friday
aye aye aye
but ima make it better ima pay my own way
ima stop waiting for my birthday to get that extra payday
ima get off the highway yep ima leave this free way
so starting now im gonna shovel my own walkway
aye aye aye

For lack of a better term i was forced to take out a mortgage last year on my home that was paid for. The terms and percentages were awful but thats besides the point.

My income at the time was sufficent to pay my bills and the mortgage.

I ran a successful business for a little over two years until 4 months ago when things went downhill. My mortgage payment is more than most people make in my area in 2-3 paychecks and now im unemployed with a SMALL list of other monthly bills besides the mortgage. I do have about k in other unsecured debt from the business and other unsecured creditors from when i was young that i never took care of.

I have thought about bankruptcy, chapter 13 is a no-go mostly because i cant afford the mortgage payments now so why would i waste my time with a 13?Otherwise it could work,but otherwise i dont really need a bankruptcy if were not including the house mortgage because i could just set up monthly payments with my creditors at a small payment.
7 minutes ago – 3 days left to answer.
my monthly expenses are slim so im not worried about that.

My problem seems to stem from my home, i have about 40k worth of equity in a 117k home.

With that kind of equity, it really does not make sense to file a chapter 7 because in my state you lose all equity besides 5k no matter what.

It really doesnt make sense to do a 13 because as already stated i cant afford the payments now,much less the payments to all my creditors plus the mortgage.

And the only other options are selling, of which is not really an option because foreclosure has already been initiated.

Or a deed in lieu of foreclosure, but then im giving them all of my equity for "free" although the foreclosure would likely not show up on my credit report and i could begin to repair the other damage.It would be faster to do this than to wait 10 years for a BK to come off the credit or 7 years for a foreclosure to come off.

OR just let it be foreclosed on……thats not appealing at all ofcourse.
ADVICE?

Well, I am not sure if I consolidate all my bills into one payment will that ruined my credit or not? Also for example, if I choose "Credit Guard" what will they benefit from me that they would want to help me? Is that a good idea because I am tired of paying for my debts and I never see any money from my paychecks. I know it was my fault, but now I want to get out of debts. If any one can help clarify these questions for me because I am very clueless about these things.. Thank you