Newbie in need of advice....

iVillage Member
Registered: 10-19-1998
Newbie in need of advice....
7
Fri, 04-11-2003 - 9:59pm
I am exactly in the same boat as some posts here...We had good credit till 3 yrs. ago...too many c/c..all maxed out..gradually began falling behind, one after another...just could no longer keep up..I cut up all and havent used one in over 2 yrs...I called creditors and tried to make more suitable arrangements, some were nice and tried to be accomadating, some werent...after awhile I couldnt even keep up on those arrangements...then I tried just dealing with one c/c at a time...I'd skrimp and ask what they would take as a settlement...one c/c was 7000 and they took 3200...that wiped out my savings...10 mths later I did the same with another...I owed them 5700 and they settled for 2400 in 3 installments, so that wiped out another...over the next year I paid off 2 more smaller cards, and the next year 2 car loans....yet still I owe and owe on others...

which I would sometimes send a payment once in a blue moon, just to keep them from final action...but now all the c/c's left are just about comming to the point of final action...no more arrangements at this point,they want it all...one already filed a judgement against my house, and another is getting ready to also...even with those others paid off I still dont have enough...we barely get by month to month...husband is self employed and I work full time...I always pay the mortgage,ulilities,insurances,phone,food 1st...then IF anything is left I pay others...but then the car will need repair,the hot water tank needed replacing and on and on...I NEVER answer the phone, or I leave the computer online or fax machine, just to keep the calls from comming in...I rush to the answering machine whenever we come in to erase any messages that may have "sneaked" through...if my husband knew how bad it all is he would blow his top and probally have a heart attack...he always says, where is it all going, I just gave you $800. to pay bills...well that barely covers the insurances for the month! Theres health,life,dental,car,truck,house...the utility companies are killing me with that last rate hike for gas was 30%...our vehicles are all over 5 yrs old...we dont buy anything extravagant or take trips...I feel physically sick when I have to write out checks so close to the penny of whats in the account,praying I did the math ok and it wont bounce...am constantly stressed to keep it all from husband..he has enough to deal with and I feel like such a failure that I could not have done better with this and now have totally messed up our credit..so sorry this is way too long...then I figure, go ahead and put the judgement...I dont plan on selling the house, and if I ever do, then I would have the money to pay it off anyway...I just dont know...cant get money from a stone..any advice? Thanks...
Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Fri, 04-11-2003 - 11:18pm
First I want to say welcome.

Calm down. Take a deep breath. The first thing I suggest u do is sit down w/your husband and let him know what's going on. Honesty is the best policy. Perhaps u can consolidate the ccs into one cc. Talking to your husband about this, u guys can probably come up w/a solution together.

Just a thought. Good luck to u. Keep posting. This is a great board.

MYM

iVillage Member
Registered: 03-25-2003
Fri, 04-11-2003 - 11:41pm
i can totallyt relate to keeping it from your hubby or he will freak. My dh just dosent understand no matter how much stuff is and with a big family its really hard and to keep from us fighting i keep quiet and inside i'm so stressed to the point i want to cry at the drop of a dime email me if you want to talk cyndy27@aol.com take care
iVillage Member
Registered: 10-19-1998
Sat, 04-12-2003 - 5:15am
Thanks for your support...but not possible to consolidate to any c/c...all accounts were maxed, very delinquent or closed...
iVillage Member
Registered: 03-26-2003
Sat, 04-12-2003 - 11:59am
Hi there, first off I wanted to let you know i read your profile and I'm from upstate NY as well. I know how you feel about the phones, right now I want to disconnect the darn things there creditors call all the time and don't they understand that NOTHING changes in 2 days? I would like to know more from you about settling and how you did that?! Also how late are you that they are putting judgements against your house, that is just awful. I did get a letter from a creditor saying I had to make a payment or else I would have to pay the full amount.....like HELLO how can I do that. It's tough, I'm right there with you. Email me if you'd like dellis2@nycap.rr.com

Corinna
iVillage Member
Registered: 10-19-1998
Mon, 04-14-2003 - 12:45pm
Just wanted to say thanks to those who replied for their thoughts...this is such a nerve wracking situation...I just emptied out my account on paying the gas and electric...At the gas co. they asked what can you pay, (I got a shut off notice), so I told them, dont you know they wanted $100. more than I could afford to give..now I will have to do some fancy juggling to make sure I have enough to pay my house insurance and phone by the end of next week...nothing left for any c/c's...trying to make sure we will have enough just to have a decent Easter meal with the family and get a few coloring books and crayons for grandson...its just so disgusting...
Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 04-15-2003 - 3:35pm
First of all, its not your fault. Things happens and sometimes they take a turn for the worse. Please separate your "self worth" with your financial situation. You must take care of you and the people you love because that is much more important that creditors and bills.

Second, I was wondering, you mentioned that one of the creditors put a judgement on your house? Was it related to your home improvement or equity? I would question whether or not they can do that. Another suggestion I have is take time to write each collection and/or creditor a letter to notify them you do not want to be contacted. By law, they must abide by your request. This might help relieve the stress and anxiety you are feeling the phone. Or have your number changed and make your number unavailable to the public.

Here is link that I have referred to help with these type of situations.

http://www.ftc.gov/bcp/conline/pubs/credit/fdc.html

Knowledge is power. You have rights as a consumer (even though you may not have paid your bills as the creditors wanted). Good Luck!

Susan

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Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 04-15-2003 - 3:47pm
Oops. My link wasn't correct. This should be the right address:

http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

I hope it helps to deal with debt collectors.

Susan

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