distressed worker

**noppenbd** · 05-28-2008, 05:39 AM

Have you looked into Prosper.com? It is a peer-to-peer lending site so it doesn't have the restrictions of borrowing from institutions, although the interest rate you end up paying may be higher.

**LuxLiving** · 05-28-2008, 05:57 AM

tanmillz307, can you offer us a breakdown of your income vs. a listing of your bills? Perhaps we'd be able to see someplace you could cut your spending in order to free up a little wiggle room.

**Tree0164** · 05-28-2008, 06:54 AM

Please list a budget-we can help you priortize.

Also you may need to consider getting a part time job to help get this paid off.

**tanmillz307** · 05-28-2008, 07:01 PM

budget

thks for the reply, i just got in from work

i should add that i have been paying the collection agency $100.00 every month bc its all i can, and it sucks bc it is barely doing anything, its just the interest, but i do it for a little peace of mind so they see i'm making an effort, and so i won't go to court, i'm already in court for credit fraud, from family using my social to get a card! so that's why i can't even get loans bc of bad credit and i don't want to file bankrupt bc its not fair its not my fault and i'm 25 it stays on your record for years, i want a family, and home ,and car one day soon! ok now for budget:

income 540 biweekly

rent 620
cell unlimited 100+tax
electricity 50-75 range
transportation 81
school loan hesc 120
loan collections 100.60
savings 25
cable/comp 125
laundry 20
food ? lol about to apply for govt help
tithe 10% e/check
partner ministry stopped used to be 30

**maat55** · 05-28-2008, 07:33 PM

A second job would do wonders for you.

**GoodBuyGirl** · 05-28-2008, 07:50 PM

Finding a cheaper place to live would help a lot. Your housing is more than half your income and it should only be 1/3.

**noppenbd** · 05-29-2008, 04:44 AM

Originally posted by tanmillz307 View Post

income 540 biweekly

rent 620
cell unlimited 100+tax
electricity 50-75 range
transportation 81
school loan hesc 120
loan collections 100.60
savings 25
cable/comp 125
laundry 20
food ? lol about to apply for govt help
tithe 10% e/check
partner ministry stopped used to be 30

Drop your cable plan to the minimum or cancel altogether. Your plan is 4x as expensive as mine. Consider cutting back on your cell plan, and possibly switch to a prepaid plan so you don't go over on your minutes. This could free up $120 or so a month.

**LuxLiving** · 05-29-2008, 05:42 AM

Can you get a roommate to share some of the rental / utlities expenses?

**lehresman** · 05-29-2008, 07:57 AM

As others have noted, your rent is more than half your income. That is really high. You should consider getting a roommate, or moving in with a friend if possible until you can get on top of this loan.

I'd also suggest getting a cushion of $500 or $1000, and then stop contributing to your savings. Don't touch that $500 for anything except dire emergencies (like losing your job or something). Then use that $25 to pay on your loans. Every little bit helps.

**Reldon** · 05-29-2008, 08:12 AM

You might want to take a look at your cell phone. I see that you have the unlimited plan. How many minutes do you use on average every month? You could cut that cost down. $100 is a lot of money to pay for a cell phone.

**tanmillz307** · 06-02-2008, 07:06 PM

thanks again u guys

from ur advice i will see about cutting off the cable bc its not a need, and my phone i have things on there too that's not a need, i'm gonna talk to my bank about the saving, just bc if i didn't do that automatically with them, i had to keep 300 min savings and i couldn't guarantee i wouldn't need to take money out of it, so it is for the freedom. I can't really do anything about the rent anywhere in ny will be so much more! and there is no one to live with for free of course, so i like having my own space. thanks again, i'll keep ya updated and try and do this, lol.

distressed worker