Hello & Financial woes....

Discussion in 'The Watercooler' started by klmno, Oct 28, 2008.

  1. klmno

    klmno Active Member

    Hello all!! I've just coming out of a mental time-out or something!! How is everyone?? I've lurked a little but missed you guys and will try to be better about responding to others' posts.

    Financial woes: I can't work 40 hrs/week with difficult child and the current state of things. So, I have to pay insurance out of pocket. I abhore(sp) the idea of public assistance for insurance due to the limitations it puts on us- especially since I know how I feel about the county mental health dept. Plus, if I wasn't paying the insurance out of pocket, I wouldn't qualify for public assistance. SS doesn't seem like the right route either. But, given this, I am not making enough to cover the bills. I used to be debt free and had a little in the bank for house projects and emergencies, until difficult child got into trouble 18 mos ago and then my bro filed for custody. Between loss of benefits at work, loss of pay, attny fees, difficult child's restitution (which I still owe on), etc., I have had to put our groceries and clothes, etc., on credit card for over a year. Now, my monthly expenses are even more. I'm just digging myself in deeper. I couldn't sell the house right now even if I wanted to.

    Will bankruptcy solve this? I don't know what to do. I don't want to have to put difficult child into foster care over this. Does anyone have any suggestions? I transferred most of the CC debt over onto a prime equity line because the interest rate is so much lower and it is a tax write-off. But, the housing market has fallen so much that now I'm worried about that. If I filed for bankruptcy, I don't think it would clear that.

    I'm scared and don't know what to do but I have to do something. Pretty soon, I won't be able to pay the regular monthly bills.
  2. susiestar

    susiestar Roll With It

    I am sorry you are having all these financial problems. Is it possible to file social security or something for your difficult child, so he would qualify for some assistance? I forget what others have filed, but there is something through the social security office.

    It is a dang shame that you work so HARD, do your best to get helpf or your child, and it drives you to this point. A real black eye for our society that this can happen. NOT shame for YOU, but for the nation.

    Have you gone to a consumer credit counselling service? Debt management kind of thing. I know we used a company for that a few years ago and they were wonderful. We also used a company to help wehn the bank messed up our mortgage a year and a half ago.

    I can send you the names of the companies in a PM if you want.

    Sending HUGS!
  3. hearts and roses

    hearts and roses Mind Reader

    I also vote for a credit counseling company. There are many out there, just be careful to find one that has a decent reputation and doesn't charge monumental fees!

    Credit counseling saved me a few years ago and really helped me to reach my goals of being debt free. With the way things have been in the past year, however, I cannot say that I am comfortable with my financial situation. I was doing great up until last December.

    I hope you're able to find the help and relief that you need. I know it's not a consolation to know that many people are in the same boat.
  4. nvts

    nvts Active Member

    Oh K! I'm sooooo in the same boat! Let me know if you come up with any solutions! I was going to do some stock work through the Christmas season (once the stores announce the signing bonus'), I figured if I work the graveyard, I could rake some serious bucks, but now my OB is on my back about "overdoing it"!

    I've got you in my prayers, thoughts and heart!

  5. klmno

    klmno Active Member

    Yes, Susie, please PM me!!
  6. Hound dog

    Hound dog Nana's are Beautiful

    I'd go for a credible credit counseling place first too. Oh, and usually you can call the credit card companies....explain the financial situation......and they'll find ways to work with you. Sometimes they even will remove a huge chunck of the debt you owe so you're able to repay the rest.

    Most doctor bills will let you get away with paying 5.00 a month (or what you can afford) as long as you set it up as a reg payment and stick to it. I've had to do this so many times it's not funny.

    There are 2 different ways to go bankrupt.....or at least there used to be. One where you pay it back in much smaller amts and the other the debt is erased. If you can go the first route it's better. husband and I always had to go the 2nd route. medication bills kill us. We pay as long as we can......but as you know that doesn't always cut it.

    If you're considering bankruptcy talk to a lawyer, have a good long consult to make sure it's the best way for you to jump.