Internet's first get-out-of-debt community - 136,000 members

I am at my wits end. My DH and I have great paying jobs, however, it is not enough to take care of our bills(I know what you all are saying, join the club, lady)!! Anyway, our credit sucks and we just received a notification from HSBC that our mortgage rate has increased from 9% to 13%.Our mortgage payments will be $1800. We have our car payment of $560.00, daycare $560.00, unsecured loans totaling $1500.00 and I have a collection agency debt that is $1,000. I don't know how we make it each month, but we do. I can't take this anymore. We have been trying to work with HSBC to lower our payments, but they keep saying that we signed a contract and that cannot be changed. We have tried numerous chances to refinance, however, because of our credit scores(DH 495 and I 475), noone can help us. I feel like there is something that we can do, but I don't have any answers right now. I guess I just needed to vent. Any suggestions!!

Posted: Tue Feb 21, 2006 1:47 pm Subject:

dbly,

Bad times do not stay for ever. I am sure you will be able to overcome it and will turn up with a good finance in future. All that you need is proper guidance on budgeting.

This site helps debt burdened people to repay their debts through consolidation program. Your monthly payment will never cross your affordability because the counselor working in the program suggests a payment plan after analyzing your financial obligations.

debt consolidation covers all your unsecured debts like credit card debt, medical bills, utilities and so on. By placing your debts under this program you can remarkably reduce your monthly installment.

This site offers free credit and debt counseling. IMO, you should avail the service. It does not involve any cost. You can ask the counselor for some tips on your secured debts also.

Please do not get upset. Members of this board are helpful and friendly. You can share all your troubles with us in this forum. I am sure you will get immense support here. Keep us posted.

Posted: Tue Feb 21, 2006 1:52 pm Subject:

When you are having financial problems, most mortgage companies have what is called a hardship rate. They do a debt to income ration and base your payment on what you can afford, then the difference is put at the end of the loan. You can consolidate all your unsecured debt into one monthly payment. Have you talked to your lein holder on your vehicle and see if there is anything they can do to refinance or any type of hardship program? I know some auto financers have a deferrment program, but once again the payments go to the end of the loan. Just thought I would give you some options.

Posted: Tue Feb 21, 2006 2:13 pm Subject:

Hang in there dbly!! Trust me, none of this is worth you taking your own life over! I know it seems like it at the time but its not and you will get through this, I promise you will!!! A year ago, I was right where you're at now. I was desperate and felt like I couldn't go on. I didn't want to get out of the bed in the mornings, I didn't want to answer the door or the phone, I kept my house dark with my curtains drawn. I felt exactly like you. Its been a year now and I'm not going to tell you my life is total roses but its come a hell of a long way from what it was!!!!! First off, I found this group and I couldn't read enough. I read and read and read. I asked questions and the people here--God bless them because they saved my life and didn't even know it. They were here for me. They listened and answered my questions. Sometimes they don't have the answers because sometimes there just aren't any, but you will still find caring people here who will listen and let you vent. We have people here on both sides of the coin. We have professionals that can give you professional advice and then we have people like me, that share their experiences first hand of what they've been through. My heart really goes out to you but I hope you will come here more and become an active member. You will not get judged or criticized here, we're all just here to help. many of us are in the same boat as you OR have been in your boat. Please, I know its hard right now, but keep your chin up. Again, there are no debts worth taking your own life over. Please come back and talk!!!! we care---I care. Shirley

Posted: Tue Feb 21, 2006 2:54 pm Subject:

dbly

Welcome to the forums! Along with what the other members wrote, might I also suggest you consider speaking with a therapist. Your headline has thrown me through a loop, and although all I can add is words, I'm no professional when it comes to suicide. Please consider all your options, as taking your life is not the answer.

Regards-
Mike

Posted: Tue Feb 21, 2006 4:50 pm Subject:

Posted: Tue Feb 21, 2006 5:06 pm Subject:

Dbly first as Mikey says call your doctor and seek some professional guidancefor those feelings (have been there so I understand). Second seek the help of a debt consolidation/credit counseling agency.

Third, as questions and lean on us here for that is why we post and read.. yes most of us come here for help at first and then as we grow we are able to help, so lean on us and know that you are not alone..

Posted: Mon Apr 17, 2006 5:27 pm Subject: Line caughter

You do know now to write a line that catches your eye. I have lost it all, honey. The Car, the house, and I am starting over. It has been 7 years and allot of suicidal thoughts. Three years of therapy and I am moving forward. You need to start with talking with someone to deal logically with your thoughts and then you can intelligently make sound decisions on how to handle the problems or you will be chasing your tail like I did; one bad decision after another.

Posted: Mon Apr 17, 2006 5:39 pm Subject:

Don't forget about consolidation programs! T&C really does great work, also, don't let the collection agencies puch you around. They say things like "you signed a contract" just to light a fire under your tuccus. You can get on a hardship payment plan, pay what you can afford even if it's just fifty dollars a month, it isn't nothing and there is nothing any agency can do to you if you are making diligent payments. Above, all look into consolidation, it has saved many lives, marraiges, and credit ratings.

We've all had our low points. I remember at 22 years of age, sitting at my kitchen table, seriously contemplating chugging a nice tall glass of rat poison because my selfish a$$hole ex-husband left me with $6 and a mountain of bills, one of which was fraudulently put in my name. It all goes away, and you'll be stronger, I promise.

Posted: Mon Apr 17, 2006 5:42 pm Subject:

debt almost cost me my marriage til my mom got ahold of us and told us that they debt collectors harassment isn't worth losing a marriage and putting stress on the kids. We have made it 13 years this past monday and we are on our way to being debt free.

Posted: Mon Apr 17, 2006 5:45 pm Subject:

That's right! After hearing from my neighbor, who also had emotional diffculty when his marriage ended, that drinking rat poison would dissolve my stomach lining and cause for me a slow, painful death, it dawned on me that a little money is not worth my life. In time I got rid of it all and am stronger than ever! You will be too!

Posted: Tue Apr 18, 2006 11:54 am Subject:

Dbly,I have been exactly where you have been too. Years ago our house flooded,we had to take out loans to cover what the insurance was supposed to cover(found out later it didn't) and to make a long story longer,between that,car payments,other payments,and a kid that was in the hospital most of the time,we lost everything. I'm not telling you this to depress you more,what I am saying is,it turned out to be the best thing in our lives.There were alot of positives that came out of that,not to mention pressure. We have rebuilt our lives and are paying our debts, to hopefully be debt free in a year. I came to this forum because of a collection agency bought an old account of ours and was in a panick,the people in these forums have helped put thing in perspective and given solutions I didn't know I had. As a counselor,I would strongly suggest that you talk to your doctor,or seek free advise from your local mental health agency,I did,and once I got myself settled down,I could look at thing from a different view. Also please take advantage of the free counseling(credit) you get here,they just might have the solution for you. PM me if you want. Remember,you are looking at a permanent answer for a temporary problem when you even think about suicide. Take Care....Karen

Posted: Tue Apr 18, 2006 4:05 pm Subject:

Karen, you are brilliant!

Posted: Tue Apr 18, 2006 4:23 pm Subject:

Thanks for the compliment,Ari,but I'm really not,just ALOT of life experiences. Hopefully I have learned from them so I won't have to keep reapeating them Laughing

I,too though it was the end of the world when we lost our home and everything,cars included. Added to that, my dad 3 grandparents,3 uncles and three cousins had died within 3 years,so emotionally I was spent. That is why I suggested a doctor or free mental health professional. If you are so worn out emotionally and mentaly,you cannot see that there are solutions. With my older son's problems, suicide is something I deal with on a daily basis. Thank God for medication,he's better and so am I!! I guess I just want people to know that no problem,whatever it may be,is too bi that it can't be helped,and there is always hope. Thanks..Karen