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    #16
    Regarding the possibility of selling the house, what do you think you would net if you sold it, after the mortgage is paid off and paying sales-related costs (fix-up before putting it on the market, repairing whatever the inspection finds that needs to be fixed, paying realtor's commission, and paying sales tax where applicable)?
    What would it cost you to rent a basic, absolutely-no-frills one or two bedroom apartment? (I don't know how many children you have or their ages, so don't know if you could get by with one bedroom or if you would need two.)

    Regarding the cars, I agree about going to just one car shared between the two of you. Not only will you eliminate a car payment, you'll also reduce your car insurance cost, not to mention licensing fees, repair & upkeep costs, and possibly gasoline.
    Last edited by scfr; 08-07-2018, 06:54 AM.

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      #17
      good luck. you're going to need to go on a "kork diet" for the next couple years. It's only once you're able to get some of that debt under control, will you be able to loosen up again.

      If $1k is your minimum credit card payment, I really hate to see what the balances you're carrying is like.

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        #18
        Originally posted by ~bs View Post
        If $1k is your minimum credit card payment, I really hate to see what the balances you're carrying is like.
        He listed the balances. They come to $41,000 on the credit cards. Then there's all the other debts.
        Steve

        * Despite the high cost of living, it remains very popular.
        * Why should I pay for my daughter's education when she already knows everything?
        * There are no shortcuts to anywhere worth going.

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          #19
          Bill1515 - sounds like you're in a tough situation.

          That said, good for you for coming forward to get some help. Upgrading who you hang out with is usually a great idea if you want to improve your skills, change your perspective and adjust your psychology.

          So, welcome to the forums and I hope we'll see more of you.
          james.c.hendrickson@gmail.com
          202.468.6043

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            #20
            Thank you again to everyone for all their comments and support. Things are getting better.....lots of immediate changes...but I'm lost on what to do next.

            I will not have enough come October and don't know which to stop paying. 1-2 or 3 of these bills will unfortunately not be able to get paid. My question is which of the credit cards or loans do I not pay???? or is it better to take the a couple debts below and pay half of the monthly payment?

            BTW...I get my bonus in April 2019. Will be $19k cash (worst case).

            do I explain to these 1 or 2 loan companies (possibly more) that I will be able to make it back up in April 2019? or do i stop paying for the next 4-5 months and then try to negotiate for .50 on the dollar come April??

            Credit Cards –$1,030 month………..$150mo w $7k bal, $55mo w $2k bal, $27mo w $1k bal, $35mo w $3k bal, $40mo w $4k bal, $25mo w $1k bal, $47mo w $1k bal, $67mo w $2k bal, $25mo w $1k bal, $25mo w $1k bal, $45mo w $1k bal, $80mo w $4k bal, $25mo w $1k bal, $80mo w $2k bal, $102 w $4k bal, $110mo w $4k bal, $90mo w $2k bal.

            Loans - $470mo for $10k bal; $591mo for $14k bal; $270mo for $3k bal; $650mo @$21K balance in dad’s name but my debt;

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              #21
              Originally posted by Bill1515 View Post
              I will not have enough come October and don't know which to stop paying.
              How do you know on August 9 that you won't have enough to pay bills two months from now?

              You earned $400 in 3 days driving for Uber. Keep that up and I don't see why you would be short. Did you look at the breakdown I posted above. By my calculations, you're only about $800/month short at worst. Turn that Uber app on every free minute you've got and you can wipe that out. And if you wife can pick up some sort of 2nd income in her free time you'll be even better off.

              Stop trying to figure out what you aren't going to pay and start figuring out how you are going to pay everything.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

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                #22
                BTW...I get my bonus in April 2019. Will be $19k cash (worst case).
                April is still many months away. Is that really the Worst case .. a lot could happen before then.
                I have seen companies have changed formulas on how to determine bonus or even eliminated bonus plans etc. that seems like worst case to me.
                I realize it sucks to go super frugal to climb out of debt and MOST people look for some sort of quick fix but honestly slow and steady is the best way to keep this from happening again. A quick fix will just tell you don't worry about it just CHARGE away with the cards.
                What did you do with your bonus last year?
                Did you create all the debt you list since then?

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                  #23
                  Bonus - I did not get one last year because this is a new job. I got into this whole because I was out of work for 6 months. Things are better but I am not going to make it out on top. I'm going to have to stop paying on a bill or two. Question I have is which do I stop paying on? or do I look into a debt management plan? I read they can lower my interest rates which are killing me but i need to lower those monthly payments in order to get anywhere.

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                    #24
                    Originally posted by Bill1515 View Post
                    Question I have is which do I stop paying on?
                    At the beginning of August, you made $400 in 3 days with Uber. How much have you made since then?

                    Stop trying to figure out what payments to stop and start focusing on how to earn enough to pay everything.

                    How many hours per week are you working typically?
                    Steve

                    * Despite the high cost of living, it remains very popular.
                    * Why should I pay for my daughter's education when she already knows everything?
                    * There are no shortcuts to anywhere worth going.

                    Comment


                      #25
                      just make all minimum payments and see what happens.
                      LivingAlmostLarge Blog

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