Which is the lesser of the Evils?

iVillage Member
Registered: 10-01-2008
Which is the lesser of the Evils?
7
Mon, 11-03-2008 - 2:39pm

For the last three years, since hubby lost his terrific job, we've lived pay check to pay check.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 03-27-2005
Mon, 11-03-2008 - 2:47pm

Sounds like you may need to cut something.

iVillage Member
Registered: 10-01-2008
Mon, 11-03-2008 - 3:04pm

Hubby has to have cell phone to work as outside sales.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 01-25-2006
Mon, 11-03-2008 - 4:17pm

In your situation, I would probably hold the house payment to the end of the week and see what happens with the job offer. If that comes through, I would probably go ahead and try and rob Peter to pay Paul for just a bit longer and try to maintain your credit rating. For me, that would involve letting the mortgage slip by less than 30 days so that you only incur the late charge w/o the report to credit bureaus. If he doesn't hear or doesn't get it by the end of the week, I would switch to protecting home and job security and start letting the credit cards go to the wayside instead of borrowing more money.

Definitely crappy options all around. Holding good thoughts that the new job will save the day.

Peg

iVillage Member
Registered: 11-17-2007
Mon, 11-03-2008 - 7:24pm

Norma


In the pass we have been where you are. Here is an idea it has worked for me a couple of time may work for you. If you have been on time with your credit cards call them and give them a story how you are redoing your budget and it would really help you a lot if they could change your closing date until the end of the month.


Bills are due most of the time within 10 to 15 days after the closing date. If they go along with this it is going to cost you more interest that first month but if you do your figuring before you call them You can skip a months payment on all of them. Because your NEW due date will fall in the next month.


Closing date say is the 24th of the month then the payment should fall after

iVillage Member
Registered: 10-01-2008
Tue, 11-04-2008 - 9:25am

Mary Ann,

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 10-28-2008
Tue, 11-04-2008 - 9:57am

I was in the place where you are. A few years ago, I would sweat if I was a little late on my credit cards. Eventually I couldn't make my payments, then I was hounded by collection agencies and then went into Chapter 13 bankruptcy. You might be eligible for Chapter 7 which is an even better deal. Like you, at one time I couldn't even imagine going into bankruptcy, but the fear of it was worse than it actually was. I got to keep my house, over a period of 5 years I am paying my credit cards off at about 50 cents on the dollar, no interest is accruing and 4 years to go and I will be debt free (except my mortgage).

iVillage Member
Registered: 10-01-2008
Tue, 11-04-2008 - 1:57pm

1:45 PM

Norma


"Patience is the best remedy for every trouble"- Plautus