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| Mon, 01-31-2005 - 10:28am |
I need advice, and this seems like the best place for it.
My fiance and I are in a large amount of debt(credit cards, unsecured loans, auto, mortgage, student loans). Due to his being laid off and medical bills during the summer we've fallen about 90 days going on 120 behind. Even the mortgage and cars are for the first time behind. He's since found work, but making 8.50 an hour. I make very good money, but it only covers the essential bills, with nothing left over for groceries, gas, etc. I've been to cccs, but they can't even start my plan until we make up the $985 we're short a month. It seems impossible that we can make up this amount of money. He of course is looking for something that pays better (but it took forever to find the crappy job he's got). I'm looking for something else, but I already work 4, 12 hour days a week, take care of our 3 year old and am expecting another baby in July. It's not been so easy to find part time work in my condition. Plus our home and mobile phones have been disconnected and we'll have to use my parents for employment contact. I hate being in this position. Sometimes it seems as if he's in a different world. He hates it when I cry about our situation, but everything is in my name, it's my work the creditors are calling. We communicate about our finances, but it seems as if he can't talk to me in a way that comforts me in this regard. So, I need advice on the following.
1. Is there any way to get the creditors to stop calling my work phone, since there is no alternate phone #?
2. I'm getting a pretty big tax refund. Should I apply this to the cccs to get it started and hope we can find the extra work before the money runs out? Or should I sit on it for the emergencies that I know are going to pop-up and pay the small balances down?
3. Does anyone have any suggestions on part-time work that I could do, or I'll say that would be more likely to hire me? I've already checked maternity retail stuff. No luck so far.
Thanks for listening.

1. Yes - you need to tell them in writing by certified mail that they cannot contact you via phone, only by mail. Back when I was a collector, once they got this letter they could contact you by phone one more time, but that was it.
2. What are your debts, balances, interest rates and minimums? If I were you, I'd use the tax return to get the car payments and mortgage caught up, put a small amount aside for emergencies and then pay down any small credit card balances (if they eat up a lot of the monthly budget, it's best to just get them paid off if you can, then your are not as short each month).
3. I don't have a suggestion here, but it even if you find part-time work it will only be for a few months since you are due soon, and it likely won't make up the $985 monthly shortfall. The better thing might be to get out from under your debt. If you get caught up on the cars and mortgage, consider selling them, and getting a less expensive car or renting an apartment for now if it's cheaper. Maybe you could rent your home for a little above your mortgage amount, and rent a cheaper apartment for your family until you can get back on your feet financially. Also, have you put your student loans into deferrment? In the end you will pay more interest by not paying on them, but deferring them can take some heat off your monthly budget. I had mine in deferrement until my dd was 3 because I just didn't have the money to make the payments. They'd defer them for 12 months, then I'd pay one month, and then defer them again.