debt ouch
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debt ouch
| Mon, 06-09-2008 - 1:15pm |
Hi, I just found out I have a really bad credit score 463 ( I want to reach 600)- I am a month behind in all my payments and I want to get out of debt. How do I do this - I know I have to start paying the min of all bills - but when I am playing catch up that is hard to do - I make good money and have a good career - but why am I always behind - I don't buy myself much - maybe a new shirt everyother month - but then things happen like weddings and the dentist - please help thanks

I wrote you a note on the budget board Glad you found us. I hope tonight you can do that first baby step and find out where you stand on everything.
It could be as simple as calling all your credit cards and getting the closeout dates changed to work with the week or bi weekly paycheck.
Looking forward to your numbers
Good Luck
Mary Ann
Hey Thanks
I read your numbers and added them up.
What you listed is 2890.00 without the money market payment. So what you got left is around 600.00 a month. If that was the true picture you should be ok even with a wedding gift in the mix as long as you don't go over board.
But there is a ton of stuff that needs to come out of that 600.00
your heat and air bill, your phone bill, water if you have to pay one, your cable bill, your cell bill, your internet. What about lunches at work. Haircuts jessie could be a man's name or a woman's name.
For me to pay all of these and mine are pretty much down to the bone. Sprint 46.00 bell south 58,00 that is phone and internet. water 45.00 heating and air 100.00 cabel 75.00 Not counting the water that is around 300.00 Add life and renters or homeowners insurance if you have a house that could be around another 50.00 or so dollars. What about medical insurance or dential insurance do you pay that.
Do you get paid by the week or bi-weekly or monthly?
I believe I added a couple of copies of things on one the posting to you. go back and down load them and print them out. Be totally honest not with the board so much but with yourself. I would guess that you are running at least a 100.00 or more over what you are bring in a month not counting extras. And that could be where your problem is.
I would first check on your auto insurance see if you can raise the deductible a little so the payment amount is smaller. Then one by one check each bill you pay and start cutting back. Got two cable boxes take one back. Call waiting or caller id be surprise who is calling you or buy a cheap answering machine. Check cell bill are you paying to message and all the other extras You need to delete a few things. You can do all this to save money. Lastly see if you can cut down on the food bill by 50.00 a month. That is only 12.00 a week to start.
Then after you do that check your pay dates on the cards and loans.
After you have done all of this Then sit down with a another piece of paper and how many times a month you get paid divide your bills by that.
what money you have left if any that is your snowflake money and the money you need to send your cards and bills for a while to get back on track.
You can do all this we all had to at one point.
Hugs to you
Mary Ann
The 800 for rent includes heat and phone etc..
I am a female so I do have things like haircuts and such - lunch isn't ussually expensive - but I also owe my mom 1000 bucks that she just phones and says she wants now - but with te extra 600 bucks I am paying off what I owe in behind bills - so if one is 300 but I am a month behind I oew 600 so then another bill dosn't get paid.
I shopped around for insurance and I do have one of the cheapest rates - I havn't even been in an accident. I don't have medical insurance cause I am cover by work - they pay 85%.
I wish you all the luck in the world and If I or any of the ladies can be of help to you then please let us know.
Mary Ann
Hi Jessie
I don't live in the US so I can't be much help in knowing whether what you spend is good or not. However I do have a couple of suggestions
Rather than try to pay the bills that you are behind in one go, try speaking to the companies you owe to arrange paying the accounts up to date in a gradual manner. So for example, assuming you were late on all three credit cards. Rather than paying the $300 outstanding on one card, along with the current month's payment, you would pay the current month's payment on all the cards and then a little towards each one so that you are making progress in getting the bills up to date, but you wouldn't be putting yourself further behind.
Secondly once you have caught yourself up, I would say make getting rid of the money mart loan first (regardless of the interest rates you are paying on the other debts). If you can eliminate it, it will no longer impact on your ability to pay down your debts.
Hope this helps.
I am from Canada,
I am working on getting the money moart loan paid off - just hard cause it's a revolving door -
with my credit cards I will try to pay the min. and a little bit more -just so hard - I make good money - I don't understand how I got into this mess - well yes I d it's my fault. Banks saw that I made good money - gavv em all these loans etc... and I took them when I shouldn't have.
thanks
One thing I am wondering is if there several things not listed there.