Internet's first get-out-of-debt community - 134,000 members

Posted: Thu Dec 28, 2006 9:12 am Subject: Slowly but surely... 2006 revisited

I am really glad that I found this board, if not for you all I think I would've let my stress get to me about my debts. Now, as I revisit 2006, I see that it was probably the WORST year of my life.

1. I moved from my hometown to Dallas, for a girl, who I am still with, but I think it might have been a mistake.

2. I got arrested for those pesky tickets (warrant, failure to appear), and had to pay $700 to bail out.

3. I lost two jobs, which were good paying sales jobs, but luckily I found another one.

4. My mom decided it would be good to stop paying for my car (my grandfather had agreed to pay it till I got established). She stopped making payments on it, but didn't tell me, so it got repossessed (it was on my grandfather's credit, not mine) and basically I was out a vehicle and lost the second good paying job.

5. I got a payday loan for 1000 to pay for the down payment on a new vehicle, then I lost that job 3 days later, therefore making the PDL not re-payable.

6. I've gained about 40 lbs (due to stress, bad diet, no exercise) and I seriously feel worse every single day.

7. I owe so much in school loans (30,000+), small debts ($10-15k), plus PDL ($2000) that I am just stressed to the brim.

8. I started drinking to forget my problems, but lately I have started drinking JUST TO feel better about life, and it scares me.

9. I feel like I am at a quarter-life crisis, where I just wish I never would've been born sometimes.

10. Due to the car stuff, my family pretty much disowned me and made me a black sheep.

So basically, I got arrested, lost my car, gained weight, lost my family, lost two jobs, and am swimming in so much debt I can't breathe. I just want to take the steps to making my life better. I just turned 27 and feel like I am 60, health-wise and mentally. I would like to know what you all think my next steps should be?

I need to talk to a debt-consolidation company. Which company would you all recommend?

What about the school loans? Should I call each one and ask for a forbearance? Or just consolidate into one payment?

Any advice would be VERY helpful.

Posted: Thu Dec 28, 2006 9:20 am Subject:

bestideayet - since you joined on 12/20, has a debt consultant called you? Usually, once you register for this site and request the debt counseling, a consultant will call within a couple of days.

If they haven't called you yet, check the Ranking Chart for your state and look for an agency near you:

http://www.debtconsolidationcare.com/ranking-chart/

Keep us posted on your progress. Once you get started on debt consolidation, you're bound to see 2007 be a much better year!

Posted: Thu Dec 28, 2006 9:48 am Subject:

Yes, someone called me, but I didn't really get anywhere with them, for some reason. He was very nice, but I was told I'd need to fax over a bunch of stuff (no fax machine) and go from there.

JMM · Posted: Thu Dec 28, 2006 10:10 am Subject:

As for your student loans, you will not be able to consolidate them if they are not in good standing with the current lender. If you are not behind on payments, then consolidating them would lower your payment. There are several good lenders out there that consolidate student loans. I used Next Student and they were great. You should try and get a forebearance. I am not sure how it works if you are currently behind. Until you get back on your feet, try and put off paying the student loans and get the other bills paid off. Student loans are the only loans I know of that you can put off paying for certain circumstances.

Posted: Thu Dec 28, 2006 10:16 am Subject:

bestideayet - any consolidation company you talk to is going to want to see your bill statements, etc., in order to help you.

Can you not go to the local library or Kinko's or Staples and pay to use the fax there?

Posted: Thu Dec 28, 2006 10:23 am Subject:

SHould I just send my credit report? that basically tells what I have in debt.

Posted: Thu Dec 28, 2006 10:24 am Subject:

Best- All the things you described can be dealt with and have solutions. You can always find a job, may be hard, but they are out there. You can clean up your credit and debt,again, may be hard, but can be done. If your drinking is starting to worry you, there is help for that,too. You can loose weight, slowly, but in a healthy way. And you can start feeling better about your life when you get control of it. I know because, other than the drinking, I've been there and back. The only part that concerns me, is the part where you don't know if it would have been better if you had not been born. You are here for a purpose and you may not know what that is for a while, but some day you will. These are all temporary problems, that can be dealt with. Good Luck. Take the steps you need to take and you will get there..KAren

Posted: Thu Dec 28, 2006 10:24 am Subject:

No - they will want to see all your bills as well, because your credit report will not reflect payday loans, etc. You can include your credit report, but I would supplement that with the actual bills.

Posted: Thu Dec 28, 2006 10:26 am Subject:

Bestidea, have you tried contacting a Consumer credit counseling Service that is not for profit locally? I would do that. Or you could contact an attorney for a free consult to see what your options are and what would best suit your situation. And with your student loans, have you defaulted yet, and if you have and are in a rehabilitation program, have you defaulted on that as well? If so you may still be able to consolidate those through Direct Loans. There is hope and it will take time, slowly but surely each day you will see progress.

Posted: Thu Dec 28, 2006 7:58 pm Subject:

Bestidea,
Welcome! I know that sometimes life sounds like a country song, but it can only get better, right? My best advice to you is to take it one day at a time, one bill at a time, one problem at a time. 2007 can only be better!

Posted: Thu Dec 28, 2006 10:17 pm Subject:

Thank you EVERYONe, you've renewed my faith in myself slowly. ONE BILL AT A TIME!

Posted: Thu Dec 28, 2006 11:23 pm Subject:

Everyone. I've talking with Bestidea on his tickets and warrants. I think we have a plan that is going to work and it sounds like the courts are going to work with him as well. All of your have great advice. I have a loan with DirectLoans and I was able to get a forebearance for a year and when it was time to start paying again, I went with the income contingent plan. I recently switched back to the standard plan. DirectLoans is very good to work with. And really that's how you start moving forward. One step at a time. Not paying on the student loan for a while will ease up some cash that can be directed toward paying off another bill, which will give you more cash for another bill and so on and so on. I call it the dominoe plan, and it works. In the meantime, I suggest that Bestidea take a look at his situation. Does he have cable? If so, see if you can go to a lower plan. Contact your utility company and see if you can get on a budget plan. That way you can predict exactly what your payment will be each month. Do you have any extra services on your land line or cell phone that you can do without? Also, as for a fax, check with your local Department of Employment. Since they are an agency to help people find jobs, they usually provide free fax service for the purpose of sending out resumes. They don't monitor your use and as long as you don't continuously abuse the service, it should be o.k. to fax out your bills to them. Also, fax machines make copies if you don't have access to a copy machine. Give it a try.

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