Same old story

[Great to be Debt Free]

Re: Same old story

TimetoSave,

Try calling each of the credit card lenders and negotiate a lower rate. Let them know you are working hard to get back on track and see if they can help youout with the interest rate. DO not cancel the account until after it is paid off -- otherwise they have no incentive to help you.

Do you have overlimit fees or late payment fees? Tell them you will send a check for $25 (or whatever minimum amount you can -- even $5 or $10) and do it. Send it today. When it clears, call them back and ask again if they haven't already eliminated the fees/reduced your rate. Even if they are rude, be calm and nice. Get their extension number so that when you call back after the check clears youcan speak to them again. This helps build rapport. Your balances aren't high, so that's good, but see if you can reduce those fees!

GOod luck!

[timetosave]

Re: Same old story

I'd put those right after getting the car current. As you might find it difficult to get credit for the forseeable future, *don't* close the accounts - paid up and unused, they are probably the only good entries on your credit report.

So - car payment caught up and maintained current is your first priority. Pay off those three little debts and cut up the cards second. Third, start paying off the judgements.

Then you can catch your breath and decide what to do about the chargeoffs.

Jackie

1 catch up on car payment (send whatever I have left to the three cards)
2 pay off the credit cards but don't cancel them...just cut them up?
3. start paying down the judgements

ok, this is the plan I will base my budget around this and post it sometime this weekend. Now my first payment for the car has already been sent, I will use my 500 for my ds to pay the next one on the 9th of Sept and then pay another one on 7th (my next payday) that will get me current. The good thing about this is that the last paycheck in September I can pretty much pay off those three cards. Then we can get to work on the judgements.

Thank you so much everybody, this is going to work...still overwhelming but I can do this.

[Jacklad]

Re: Same old story

pay off the credit cards but don't cancel them...just cut them up?

That's what I would recommend - otherwise, you will sacrifice the only positive entries on your credit report.

Just make sure that you keep opening the bills - to check for any unauthorized charges, additional interest charges or annual fees. You don't want to end up owing again.

Jackie

[timetosave]

Re: Same old story

That's what I would recommend - otherwise, you will sacrifice the only positive entries on your credit report.

Just make sure that you keep opening the bills - to check for any unauthorized charges, additional interest charges or annual fees. You don't want to end up owing again.

Jackie

Great, thanks

[boefixepa]

Re: Same old story

A great plan of action! Hang in there and keep truckin'. You have the first steps down we'll help you through the next few months and then you will feel tons better!!

Also, as of now write down every penny you spend so you can figure out where your money is going...that needs to be #4 on your list. It will help with the budget.

[debtfreeme]

Re: Same old story

by the way, check with your phoen comapny. in california as long as the phone is plugged into the socket you can call the operator, the phone copmany and 911, without having service.

you do not need phone service for 911.

[timetosave]

Re: Same old story

by the way, check with your phoen comapny. in california as long as the phone is plugged into the socket you can call the operator, the phone copmany and 911, without having service.

you do not need phone service for 911.

I don't think this will be necessary, I don't pay the phone bill so it is not an issue for me. Thanks though

[lrjohnson]

Re: Same old story

the foods on the cheap food list would never work (they are cheap because they are not healthy)

Uh...whole grains like oatmeal? Beans? Bulghur? Fruit? Quinoa? Broccoli??? If that thread doesn't help, fine, but cheap food does not equal unhealthy food. You don't need to change your habits, but no need to state that those that posted in that thread are eating unhealthily.

I'm glad you are back. (Seems like you weren't really gone, just had a busy couple of days.)

[timetosave]

Re: Same old story

Good morning all. Got up this morning and checked my Ebay listings, I have 9 items selling (one with 9 people bidding against each other.... ) hopefully I can raise enough money there to at least make one car payment before my given dates...or even enough to pay off those little credit cards either way it will go far. I've taken today off in order to take my dd to get braces...but I will also take the time to look around the house for other things that I can sell online. This is step one...get caught up and then we can look at my debts...heck, maybe by the end of the year I will be talking about how much I can save...

There is hope...boy this past week has been an emotional one. I've gone through anger (towards harsh words spoken here) denial...(get rid of my car...that's not the problem I want to get ahead not behind) fear (this is never going to happen, this is far too big for me) bartering (dear God if you only let me win the lottery I'll be better) acceptance (I can sell my 'stuff' and get out of immediate trouble) does this mean my debt is dying? lol

G

[LuxLiving]

Re: Same old story

Dear TimeToSave,

Boy, am I late to the party!! Sorry to have missed this thread up til now. First, don't totally discount what Ima and some of the others have to say...healthy sceptisim maybe how she and others have been able to accelerate their net worth over ours. I don't know, BUT, I do know reading the thread from an outside viewpoint I didn't see the comments as harshly as you did. Maybe in time you'll reread them and not be quiet as 'chip on the shoulder' feeling as you do now. I can understand, I'm one to quickly take offense as well at times. So for now, maybe take the other advice of just breathing deep, slowing down and with these guys help you'll get down to making wiser more well thought out financial decisions.

I am a SAHM. I have a son w/disabilities as well and a husband who is a lovely man, but sometimes very disconnected. So, I can relate to the sometimes overwhelming feelings that can come w/those special opportunities. OOOOH Good on you for getting yourself an education and hitting the old workforce!! Gotta be tough with the challenging opportunities at home. Get yourself some rest!! And then, when you do catch your breath you might want to check out Flylady.net for some practical home-running advice. She also has good advice on facing your finances over there too!

Now, this is just a suggestion and may not work for you...but did you shop w/your daughter present for the clothes at Penny's? Or, did you buy them and bring them home? Has she seen them yet? Did you put it on a CC? Can you take some of them back? I would if it wouldn't traumitize her. Maybe you could explain to her the difficult position you find yourself in. THEN, I know it's hard to find the time while working, but I'd take that money and head down to the local thrift shops/Goodwill/ Salvation Army and consignment/resale shops. I think for about half of what you spent you could get her the same number of outfits. Of course, you may be opposed to buying used. Some folks are. Just an idea.

Second, IF, Big BIG IF, you can keep your self from using the credit cards, I wouldn't tear them up. I'd put them up -- save them for a true emergency - such as an unbudgeted car repair. Since your credit score is bad, then I would keep them paid up and put up. You might actually NEED them before you get yourself totally turned around. Mine are locked up. They are now paid in full each month. Wooooo - I put $4.48 on mine this month and it'll be paid off before the day ends.

Yes, this is hard and you've had more than your share of hard knocks -- but they'll all be worth it if in the end you learn from the experience and come out w/bucketfuls of cash on the other end!! We are now free from debt other than our mortgage. I know the debt snowball method works as we used it to pay down about $19,000 of debt - cars & cc - in about 13 months time. All while doing it on a very small income. It can be done, and in a few months you'll be in a far better place than you are now.

Good luck to you and keep us posted. How about some of those minimum payments and due dates that other folks were asking about? Also list paydays.

-LuxLivingFrugalis

P.S. Are you balancing your checkbook every month? I think you said you don't bounce checks - but do you keep your checkbook up to date? balanced? Credit card charges deducted from checking account as soon as you charge something?

[timetosave]

Re: Same old story

Luxliving...first thank you for your input. Second I believe Ima is here to brag...to try and make herself out to be better than others (and possibly better than she really is) by putting others down...not someone I would want to pattern myself after...

Taking my dd's clothing back and go to the thrift store is not going to happen for a couple of reasons...did you read that I saved 199.00 that is excellent and second I would never put my child in clothing from the thrift store. One can get clothing from a department store for often less than the thrift store (some of her NEW jeans were only 2 bucks) for some reason people who are trying to cut back seem to think they have to act like they are dirt poor in order to be credible...I am the queen of the off season/sales and will continue saving money that way when it comes our clothing. But thanks for the suggestion

Boy...I guess credit cards it the main focus. I really don't shop with them much..my dd's clothing was purchased with cash...and yes, I am determined to pay off the low balances on my cc's and put them away. I won't use them any more unless it is an emergency...I'm committed to that.

I'm realizing this is only as hard as I allow it to be in my mind. This is really quite doable...I'm sure there are others that have worse credit than I have and have come out of this ok...I think I'll be ok

As far as the harsh words and my having a chip on my shoulder...I am in debt not someone's punching bag. I did not come here to be beat up, I came here for help I will not accept people treating me poorly in my daily life and will not accept it here. I doubt that I will ever re-read the post and decide these people have been fair in thier words or in anyway helpful...but I am surrounded by many that seem to be VERY supportive and filled with great suggestions...I will focus on them.

Again, thank you for your suggestions...I will check out that website you mentioned when I get a chance.

[sakigt]

Re: Same old story



Justify your actions all you want. But keep your opinion of our other members (not to mention everyone's favorite) to yourself. No one here has ill-intentions.

[Ima saver]

Re: Same old story

Timetosave, I am not here to brag and I truly apologize if I made you unhappy or upset you. You seem to have come up with some good ideas this week, and i wish you a lot of luck. You certainly sound determined. It seems like you have gone thru so many adversities.

[DivaJen]

Re: Same old story

hi timetosave,

I've read the thread and haven't commented. Just wanted to say welcome and I'm looking forward to seeing your numbers. I think it's easier to help people with ideas for saving, cutting back, etc. when we see actual numbers and how they stack up relative to each other.

[LuxLiving]

Re: Same old story

Okay - fair enough. Believe everyone here was basically trying to help. Intentions may not be seen in the emotionless tone of email though. In the short time I've been here I've gotten loads of great tips from the good folks in this thread. Nuff said.

One note - When I go to a department store and prices are high, then they are marked down and I get a 'buy' doesn't necessarily mean I saved money - to me that is - unless I take the difference in retail/sales price and put the actual $$'s difference into a savings account or towards our debt. AND, providing that I couldn't get the same thing somewhere else cheaper.

Example - The other day I used a bunch of coupons at Homeland and the teller told me, "Congratulations, you just saved $11.80." My thought was, "No, not really, unless I go home and move those dollars from checking to savings." However, it could allow me the 11.80 to spend elsewhere if I wanted to - I just choose to move the dollars toward extra principal payments on the mortgage payment right now.

And this only works if I have the 11.80 to begin with to literally move to savings. If I go spend grocery coupons and have to come up w/some cash for difference from $$'s not already in my budget for groceries, then I've robbed Peter to use up my coupons and will have to pay somewhere else later when that bill comes due and the money isn't there!


I do shop the thrifts/resales - not to act dirt poor, but to keep myself from being dirt poor! For me, I'd rather have 10 outfits from resale at 40.00 than 1 new from Dillards at 140.00. YMMV! And for me, getting the 140 together would be a very long process and I'd give up hope of ever getting there given home circumstances. Even so, now days, decreasing the debt is more important to me than my fashion sense. I do like to look nice, but the debt worries me at night. The lack of clothes in my closet doesn't keep me up at nights like looming debt does! ;0 I totally understand that some people feel strongly against wearing used. I just don't happen to be one of them. I bring it home - wash it up and am tickled to have it!

Again, these are slight semantic differences and ones you may not find validity in at this point in time - if ever. And that's more than okay!!

I agree that sometimes the sheer volume of pressures can seem overwhelming. A disciplined plan of financial action makes things seem more manageable.

--LuxLivingFrugalis

P.S. Who knows, when mortgage payoff comes? Maybe I'll splurge and go out and buy myself a BRAND NEW outfit. Who am I kidding??? hahaha-- Nahhhh!!! I'm frugalisamericanus to the bone!! LOL!!

-LuxLivingFrugalis