not even sure where to start over again

iVillage Member
Registered: 08-16-2005
not even sure where to start over again
7
Tue, 08-16-2005 - 7:29pm

Its a very long story, but, to make it short, I will try to condense it. Altho, I cant even make sense of my life right now.
I bought a little deli, and laundromat building back in 2000, it had an apartment in back so I figured I could live there and make a living! Welllllllll many obstacles came along, 911, record hot summers, record cold winters, price gouging with utilities, the guy who sold me the laundromat owned most of the rentals in town, and he put washers and dryers in his rentals! Just one thing after another, causing me to go from owning $20,000.00 in stocks, and only $600.00 in credit card debt, to, within 4 years, over $70,000.00 in credit card debt, loosing over $150,000.00 in my inheritance from my dads death, in trying to keep my business going. After only 2 years of starting up I had to move my restraunt business to another town because of my dads health, then, he went and died after 18 months of me being home with him. I begged the leasing company where I had my restaurant located to let me out of the lease because they were NOT doing their part at keeping businesses in the mall, but my begging went un-heard.
After 5 months of just not paying my rent because i couldn't, they kicked me out. Leaving me with no funds to start over, no funds to pay my $3500.00 a month credit card payments, and no place to do business from in the local town.
I have not been able to land a decent paying job, the only thing I have been hired for is more food service work, which is hard on my body, and pays very little, and, is only part time. I have had to let all my credit card payments go, trying to only hold on to one I had paid off, and, my house payment, my vehicle and utilities.
Over the past 9 months I have had so many feelings of anger, hate,fear, loneliness, every spectrum imaginable but worst of being stranded in my home town where I never wanted to live anyway,now i have no money to get OUT!
I had worked for over 30 years to build diamond credit! To have it go down the drain in 9 months! I wont even be able to rent an apartment since they now look at credit reports, buy a car, or, buy another home. Since I am adopted, and since the death of both of my parents, their families dont have a need to support me.
I just feel as tho my life is over, and, Im only 53. Im so alone, and just don't even know where to turn....
iVillage Member
Registered: 05-09-2005
Tue, 08-16-2005 - 9:24pm
Wow, you have had a really rough time. I know IVillage has a bankruptcy support group -- you might want to go there and see if bankruptcy is the path you should take -- it doesn't sound like you will ever be able to pay those bills!! And if this is the right path, you should start right away since the BK laws are changing in October.
Good luck
Megan
iVillage Member
Registered: 01-06-2005
Tue, 08-16-2005 - 10:26pm

HUGS! That is such a tough situation, my goodness!

I'm glad you found your way here. You will get plenty of support and probably a ton of good advice! :)

Jennifer

 

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iVillage Member
Registered: 10-09-1999
Wed, 08-17-2005 - 10:24am

So sorry to hear what you are going through right now. I don't have many words of wisdom, but I am sending you (((HUGS))). I would think finding a full time job, possibly in the food service industry that you know so much about might be the direction you should go. Maybe you could find someone who needs a roommate so that you could split the rent & utilities with them. I do agree that you should research bankruptcy & see if that could be an avenue that would give you some relief on your credit cards.

Really, just keep your chin up & keep smiling, you are NOT your debt! Best of Luck, I'll be sending you positive vibes.
cindylee

iVillage Member
Registered: 06-16-2004
Wed, 08-17-2005 - 1:04pm

(((Hugs)))How aweful for you! I third the idea of filing BK. It sounds like your credit has really fallen so filing won't do much damamge. ALso see if you can rent a room somewhere. That is almost always cheaper, and I am not sure if they do credit checks. Could you take a job in food service until you find something better?

I really hope you stick around here, and I am sorry you are in such a bad position!

Nicola

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iVillage Member
Registered: 08-16-2005
Wed, 08-17-2005 - 11:38pm
I still own my building in the small town where i first opened for business, and, have too much equity built up in it. My lawyer told me to just not pay the credit cards....
against my feelings of that not being the right thing to do, im trying to do what he has told me to do. I cant move back to the small town, i couldnt make a living there before, afraid to try it again...I have had a house mate for 6 months, had to ask him to leave, he was a mental case and drove ME NUTS...which was a short drive anyway ;)!!!
I have a "business partner" which is another story in its self...LONG story...and he is finaly getting his head together sinec loosing the restaurant...we have both been very depressed and very hard to get back into the "work field" 4 years of working 7 days a week....15+ hours a day did a real number on us, physically and emotionally...its been like loosing our child...
I have a job, part time, in alcohol treatment center kitchen, and, do catering for railroad crews onsite about 1 or 2 times a month..I have put in applications for full time jobs but have not been able to land one. Im afraid my body cant take alot of physical labor any more so I have to be carefull in what jobs I can apply to. The jobs I have felt I could do full time, dont hire me, I have found its not what you know in this town its WHO you know (I dont know the right people obviously!!)
Plus, most of the jobs here only pay $5.50-$6.50 an hour!
I couldnt believe it when I appied at the local grocery store where I worked 20 years ago for $7.50, now, starts a person at $5.50!!! no matter what experience one has!
Our local news paper says we are in the midst of a BOOMING ECONOMY! YEAH RIGHT!!!!
with $2.60 a gallon gas, Im afraid that does NOT cultivate a BOOMING ECONOMY
iVillage Member
Registered: 08-19-2003
Thu, 08-18-2005 - 8:03am

If you have the equity in your building, why not just sell it and pay off your remaining debts?

Where do you live?

Shannon

Shannon


Pregnancy%20ticker
iVillage Member
Registered: 08-16-2005
Thu, 08-18-2005 - 9:50pm
the building, equity doesnt even come close the amount i owe in cc debt.