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 Posted: Fri Jul 13, 2007 1:57 am Subject: Divorcee, went through hard times |
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I got divorced last year, have a truck financed through my old bank. Financing was in both mine, and my ex wifes' names in the state of North Carolina. I have sinced moved back home to California and have gone through some really hard times as far as jobs and money goes. I have gotten back on my feet and am working a full time permament job making more than enough to make all of the payments necessary. The problem is, that when I lost my old job and the ability to pay my vahicle loan and credit card payments, I got scared and just stopped responding to their calls, letters, etc... Now the truck is going to charge off, and I think the credit card as well. I am not making enough money to be able to make the massive payments that are being required in order to get back on track. I can pay more than I used to, but just not what they are asking for. Is there a good way of handling the situation? I should probably mention that the bank has the title to my truck, so it is a secured debt I think.
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tstipati
Joined: 13 Jul 2007
Posts: 1
Debtcc Points: 45
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| Posted: Fri Jul 13, 2007 1:23 pm Subject: |
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You should try for a consolidation plan and include your credit card debts in it. The counselor will get a lower interest rate from your creditors on the outstanding balance. This way, you will save extra portion of money and you can put it towards your truck payments. Talk to a debt counselor for your options in consolidating the credit card debts. Then you may call your bank that has the title to your truck and propose larger payments. Hopefully, things will work out for you.
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orake
Joined: 20 Jul 2006
Posts: 483
Debtcc Points: 6732
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