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| Thu, 12-22-2005 - 12:13pm |
Hello Everyone,
I am new to this site. I happen to be doing some research about credit card debt and I ran across a link to this board. Once I started to read some of the discussions I realized I am not the only one thinking, I will never ever get out of the financial rut that I am in. Here goes my story. My husband lost his job about three years, he was out of work for almost a year. He has worked on and off since but never long enough for us to begin to catch up on our bills. About two months ago he found a pretty stable job but he makes so much less.
We are so far behind on all our bills. Last night I received a summons from a credit card company to go to court for an abritration. I do not know what I need to do or what will happens once I show up. I owe over $10,000 and I have no way of paying it off other then by making small payments($50 -75). I guess I am scared of what will happen in court. I am a nervous reck and have been unable to sleep or eat. Any help, advice or insight will really help me out.
Thanks!!

Hi there and welcome to the board.
All my best,
Danni
I know exactly what you mean about having a husband out of work. My husband drives a truck and it seems like he changes jobs constantly. During 2005 he has been out of work three different times five & six weeks at a time. Our bills were already so much that we really couldn't even pay them. I had to file for Chapter 7 bankruptch in October - this still hasn't been completed - but it is making my credit cards and medical bills leave us alone (I owed about 50,000 - just in my name). My husband was unable to file - so we have all the stuff in his name to deal with - he has been charged off with 3 credit cards (and I read that a charge off on your credit record is as bad as bankruptcy) the cards have been turned over for collection. I was wondering what happens next - what exactly does arbitration mean? I wonder if that will be the next step for him? It seems like that when some people file bankruptcy that they start off fresh - but not for us - we still owe so much and we can't even catch up our monthly bills (like electricity, drug store, etc.) My husband is working now - but itis just not enough. I work full time also.
I know that none of this helps you -- but I wanted to let you know that you are not alone. We don't know what to do either.