How do you know when to give up and declare bankruptcy?
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|Tue, 02-28-2012 - 11:15pm|
I have reached a point that I feel I am getting nowhere in this debt battle. Its been almost 3 years and Im no better off now. I guess I do see things getting somewhat easier later this year after my car is paid off freeing up almost $400 a month, but thats only if nothing else comes up, and it probably will, if things continue as they are now.
Im not trying to be a downer but to be realistic. Each month I am having to borrow from my banks early access fund just to have money to live on. I pay my bills but there is nothing left after that and some months not enough to do that. I have tried a budget that someone on here generously worked out for me but too many unexpected things came up to blow that, car repairs, medical bills, etc.. Though overall I have cut my debt in half, I still have so far to go (and compared to many on here it wasnt that huge to begin with). I did do something that Im sure would be frowned upon here but I felt I had no choice. My dog got very sick and I had to open a credit card with Care Credit to save her life. It is interest free for 6 months but there is no way I will have it paid by then and the interest rate goes up to %25. I also was offered another high interest credit card which I opened and intended to keep for emergencies which kept coming up and now that is maxed out. So while I paid off half of my original debt I have added about $3000 to that figure. I knew it was wrong but I couldnt figure out other options. I have no one to lend me money and nothing of value to sell so