I need some input.
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I need some input.
| Fri, 04-10-2009 - 7:57pm |
So I recently looked into doing a Debt Management Plan thru CCCS. I got the website from SUze Ormans webpage. So right now my monthly debts are:
Card #1: Balance $6073 Minimum Payment $110. 9.24%
Card #2: Balance $2600 Minimum Payment $65.00 11.99% (going up to 17.9%
Card #3: Balance $2000 Minimum Payment $30.00 0% for one year
Card #4: Balance $1200 Minimum Payment $30.00 21.99%
Card #5: Balance $1072 Minimum Payment $20.00 22.99%
Personal Loan: Balance $6774 Minimum Payment $230 21.99%
And i found out I have a collection on my credit for $400.
SO right now, I only am able to pay the minimums. At that rate I am going to get all of this paid off in 2047! If I do the debt management plan, everything is going to get consolidated, and everything will be paid off in 8 years. I just don't know what to do. I know I can't do this on my own, I have been trying and pinching pennies and cutting costs everywhere. My credit score has already been hurt because of the collection and also because of the fact that I am pretty much maxed out on everything.
I am just so angry at myself for having done this! I am sick over the whole thing and I can't even enjoy life anymore. I should be enjoying my time with my family instead of worrying about all of this debt. I know the debt isn't going to disappear, I just don't know what to do.
Sorry if this is extremely long, I just have to vent somewhere. Thanks for reading.
Card #1: Balance $6073 Minimum Payment $110. 9.24%
Card #2: Balance $2600 Minimum Payment $65.00 11.99% (going up to 17.9%
Card #3: Balance $2000 Minimum Payment $30.00 0% for one year
Card #4: Balance $1200 Minimum Payment $30.00 21.99%
Card #5: Balance $1072 Minimum Payment $20.00 22.99%
Personal Loan: Balance $6774 Minimum Payment $230 21.99%
And i found out I have a collection on my credit for $400.
SO right now, I only am able to pay the minimums. At that rate I am going to get all of this paid off in 2047! If I do the debt management plan, everything is going to get consolidated, and everything will be paid off in 8 years. I just don't know what to do. I know I can't do this on my own, I have been trying and pinching pennies and cutting costs everywhere. My credit score has already been hurt because of the collection and also because of the fact that I am pretty much maxed out on everything.
I am just so angry at myself for having done this! I am sick over the whole thing and I can't even enjoy life anymore. I should be enjoying my time with my family instead of worrying about all of this debt. I know the debt isn't going to disappear, I just don't know what to do.
Sorry if this is extremely long, I just have to vent somewhere. Thanks for reading.







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lulu,
Is the $1,000 your FIL gives you going towards the second mortgage of $1129?
If so, would you be ok to ask your FIL for the extra $129? If you are covering that for him each month that is ticking into your budget.
Yippie for formula going away! That's a big savings.
Is your SIL your daycare lady? Could you perhaps ask her to accept $500/month in exchange for "free" watching of her kids? Any little bit helps.
Trying to find any way to keep you from filing BK or going through CCCS.
Two things : Would a CCCS company include your personal loan? ( I am asking b/c I don't know much about personal loans. )
Also, you car insurance seems high to me. We have two relatively new cars (2006's) and we pay about $1,200 per year. You are paying $2,676 a year. That is a lot of car insurance. Can you call and lower your policy? That would free up some dough. :)
I have $7436 in income with $5813 in expenses plus $486 in loan payments for a total of $6299.
I have $1137 a month left, but you don't have gas in here, car registrations, gifts, clothing (kids get larger), or anything else that might come up like car repairs, house repairs, etc.
I go to either BJ's or Target and get our toiletries in bulk, as well as paper towels, tp, napkins, etc. and if I do go to Target I get some of our groceries there, so one trip to target is $100-$150 and if I go to target I just go to our local deli and buy our cold cuts and fruit which runs about $25-$30. Some weeks I don't have to go grocery shopping, we just live off of macaroni and sandwiches.
My car insurance is high, but I was in a car accident 2 years ago and they still hold it against me. I am going back to my previous insurance company when the previous one expires in May (so I am hoping I will be saving some money there).
I can't ask my FIL for any extra money because when tax season comes, we write those property taxes off and pocket the money, that's why we cover the $129, plus we had actually borrowed money from the house way back.
I would love to ask my SIL to cut back, but she does watch my daughter 5 days a week. And her kids are 17 and 14, so unfortunately they don't need babysitters.
I know that I have the money somewhere in my monthly amounts to pay these cc's down, I just really don't know where to start! I have written down everything the we spend $ on, what my monthly payments are...and I still can't figure it out.
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I would like to speak someone
For some reason I could not reply to the post directly.
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