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  1. #1
    ccbabri is offline Junior Member
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    Nov 2005
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    handling debt after job loss

    What is the name of your state?sc after losing my job, i took over paying the bills and discovered that we were paying horrendous finance charges/late payment fees/ever increasing apr's. i've been contacting all of our creditors to try and get help, but nobody will waive fees, drop finance even though i've told them that i'm unemployed now. these guys have had me in tears for hours, and i don't know how i'm going to feed my children, never mind about christmas. i worry constantly about this. i only took over a month ago, but everything is going downhill before i actually have the chance to fix things and i would rather not file for bankruptcy! HELP!!!!
    Last edited by ccbabri; 12-07-2005 at 06:11 PM.
  2. #2
    Debt Guy is offline Senior Member
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    Jan 2005
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    Your first obligation is to your family.

    Bankruptcy may or may not be a good choice. Credit counseling might help with the fees and interest rates on the cards. Doing nothing is probably a bad choice.

    Do you own your home? Do you have family who can help?
  3. #3
    ccbabri is offline Junior Member
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    Nov 2005
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    Unhappy Creditors

    S.C.

    Yes, we own our own house, and no, I don't have any family in this country.

    My spouse left for Iraq a few weeks ago, and now I probably won't get unemployment benefits either, which means that I will have no money coming in at all. The bill collectors keep calling, and I'm trying to set up a consolidation plan, but can't afford to do that either really, because if I do, I won't be able to feed my children- 1 14yr old son, you all know how much they can eat, and an 8 year old daughter who could swallow 1/2 of the contents of the fridge, and burn it off within 1/2 an hour!

    I don't know who to contact or where I can get help! I'm not local and have never been in a situation like this before.

    Any advice would be greatly appreciated!
  4. #4
    Ladynred is offline Senior Member
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    Nashville,TN
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    First of all, most creditors will NOT put you on a hardship plan until you are 3-4 months behind already - and nearing charge-off. If you have no income, though, I don't see how you can even make payments on a hardship plan.

    Why would you not get unemployment just because your spouse has been deployed ?? That makes no sense. If you were just laid off and not fired, then you should be entitled to unemployment benefits. Are these YOUR cards or are they joint with your husband ?? If they are joint then you may get some relief thru the Solders and Sailors Civil Relief Act. Surely you are getting SOME money from your husband's military pay. Getting yourself into a panic isn't going to help one bit.

    Can you get another job ? Do you have anyone who could look after your kids if you do get a job ?

    Bankruptcy is an option hanging out there.
  5. #5
    ccbabri is offline Junior Member
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    Nov 2005
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    Serving his country - yet again

    S.C.

    I did not say that I was not getting benefits because he was being deployed. Please read more carefully next time. I tried to contact you, but you seem to be unavailable now. I asked for help, not wise s remarks.

    Thank you for your interest, however!

    Where is the little smiley face for "I'm really p s ed?" Not at you in particular but the way the sharks come circling in to kill!
  6. #6
    Ladynred is offline Senior Member
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    Nashville,TN
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    My spouse left for Iraq a few weeks ago, and now I probably won't get unemployment benefits either
    No wisecracks intended. I read every word, but the way you wrote it implied that your DH's deployment and not getting unemployment were connected.. there was no further explanation as to why you wouldn't get unemployment benefits.

    If you don't have enough money coming in then it seems to me you have 3 options - 1) get a job or find a way to work at home and get paid 2) file bankruptcy and get out from under your bills and the collectors, or 3) do nothing, stop worrying about the monster credit card companies and take care of your family - then deal with the charge-offs, collections and rotten credit after you go back to work.

    I told you that credit card companies may put you on a hardship plan for 6-12 months, but they won't even consider it until you're at LEAST 3-4 months behind. Unfortunately they won't work with you BEFORE it gets that bad, which is stupid beyond belief but I'm sure they're making way more money in late charges, sky-high interest rates and fee on delinquent accounts.

    I also told you that if your husband is on any of these accounts you MAY have some recourse in the Soldiers and Sailors Civil Relief Act.

    Then you have DG's suggestion of trying credit counseling, though you need to be EXTREMELY careful with them, it could work.

    So, you got several suggestions.... if there's not enough money coming in it makes sense that you have find a way to GET more $$ and slash expenses to the bone. Your children aren't infants or toddlers, so I would think you have a few more options other than expensive daycare if they were.

    If you want to contact me, you can always use the private message feature on this board.
  7. #7
    ccbabri is offline Junior Member
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    Lightbulb Thanks!

    ladynred got me thinking! Thank You

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