mmmk. where to start.
Had great credit NEVER late, bought a house in March. House needed work...used CC to do some projects expecting first time homebuyers $8000 tax credit. Credit cards were at about $12000 before. Now they are close to $30,000
Typical story, thought we could keep up with payments, got overextended. Got furloughed, got sick, got pregnant, had 3rd baby...charging groceries and diapers hoping to make it to tax time to bring debt down. While in hospital in Aug. late payment...kapow! Spikes in interest...
Sept (after another furlough day added plus benefits for newbie) everything is maxed out. Up until then we could rob peter to pay paul. For Sept and Oct we paid no cc, even borrowed $ for groceries. We didnt spend recklessly to max em out either...no big purchases except the dentist which was an emergency with daughter. We grossly miscalculated how much diapers and formula and groceries were running us, and for some reason budget worked on paper. I have been getting calls from them but are too scared to answer.
We have no real assets. Zillow says our house is worth $220,000, but county tax bill has us at $179,000. Mtg is $181,000. We could not rent for what our payment is, as we got good interest at the time. I have a honda pd off worth about 6000. Its my hubbys commuter car. Have a van whose payments we have kept up with, and need as its the only car we all fit into. It may have a few thousand equity in it. Old furniture, old tv, kids toys? Not worth too much. My kids have 529 accts with maybe $1000 in them...gifts from old boss
We would like to file next year and use the tax money for a lawyer, and maybe replace the fence as its rotten and there are roaches living in it trying to move in the house
The only other hangup it this wilil be my hubbys 2nd bankruptcy. He was a starving student and racked up too much debt under the belief that IT professionals start at $70,000 yr. The school sold him a line of bull. The last one was done almost exactly 8 yrs ago. This one is my fault..as I was in charge of bills. The debt is all in my name, but he had cards too at my request...does this mean they were joint accts?
Can we file? What about the calls...will they hunt me down and kill me lol? Will we get judged because of hubbys bk? I would file on my own, but those accts where he has cards are high and it doesnt help us if they go after him kwim. Will they nail us to the wall if we use tax $ for a lawyer and to "catch up" without paying cc bills? Because after we get the tax $ whats the point...they are gonna NAIL us with fees. Any info will help. By the way after car, mtg, ins we really only have $1100 for EVERYTHING else for a family of 5.
We have kept up mtg, car, and Student loan.
When I knew we couldnt pay bills, I called them and the only one who would work with us were the student loan with a forebearance. Chase tried a payment plan, but now I realize we cant even do that !HEELLLP
Had great credit NEVER late, bought a house in March. House needed work...used CC to do some projects expecting first time homebuyers $8000 tax credit. Credit cards were at about $12000 before. Now they are close to $30,000
Typical story, thought we could keep up with payments, got overextended. Got furloughed, got sick, got pregnant, had 3rd baby...charging groceries and diapers hoping to make it to tax time to bring debt down. While in hospital in Aug. late payment...kapow! Spikes in interest...
Sept (after another furlough day added plus benefits for newbie) everything is maxed out. Up until then we could rob peter to pay paul. For Sept and Oct we paid no cc, even borrowed $ for groceries. We didnt spend recklessly to max em out either...no big purchases except the dentist which was an emergency with daughter. We grossly miscalculated how much diapers and formula and groceries were running us, and for some reason budget worked on paper. I have been getting calls from them but are too scared to answer.
We have no real assets. Zillow says our house is worth $220,000, but county tax bill has us at $179,000. Mtg is $181,000. We could not rent for what our payment is, as we got good interest at the time. I have a honda pd off worth about 6000. Its my hubbys commuter car. Have a van whose payments we have kept up with, and need as its the only car we all fit into. It may have a few thousand equity in it. Old furniture, old tv, kids toys? Not worth too much. My kids have 529 accts with maybe $1000 in them...gifts from old boss
We would like to file next year and use the tax money for a lawyer, and maybe replace the fence as its rotten and there are roaches living in it trying to move in the house
The only other hangup it this wilil be my hubbys 2nd bankruptcy. He was a starving student and racked up too much debt under the belief that IT professionals start at $70,000 yr. The school sold him a line of bull. The last one was done almost exactly 8 yrs ago. This one is my fault..as I was in charge of bills. The debt is all in my name, but he had cards too at my request...does this mean they were joint accts? Can we file? What about the calls...will they hunt me down and kill me lol? Will we get judged because of hubbys bk? I would file on my own, but those accts where he has cards are high and it doesnt help us if they go after him kwim. Will they nail us to the wall if we use tax $ for a lawyer and to "catch up" without paying cc bills? Because after we get the tax $ whats the point...they are gonna NAIL us with fees. Any info will help. By the way after car, mtg, ins we really only have $1100 for EVERYTHING else for a family of 5.
We have kept up mtg, car, and Student loan.
When I knew we couldnt pay bills, I called them and the only one who would work with us were the student loan with a forebearance. Chase tried a payment plan, but now I realize we cant even do that !HEELLLP
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