logo

Debtconsolidationcare.com - the USA consumer forum

The journey Starts tommrrow.

Date: Mon, 11/13/2006 - 12:56

Submitted by anonymous
on Mon, 11/13/2006 - 12:56

Posts: 202330 Credits: [Donate]

Total Replies: 18


Tommrrow I start my second job. I will work 40 hours a week during the day and I work 50 hours a week overnight. I owe 11,000 in credit card debt, and about 6000 in miscalaneous debts. and 9500 on my car. I have a gf who is also working two jobs.

I make about 1500 every two weeks now with the two jobs. Also my gf makes 1500 every two weeks. Are minimums and basic expenses are about 2000 a month.
We will have approx 3000 a month to pay off bills.

this is my plan ( looking for feedback ) :

Month 1: Pay 3000 on credit card
Remaining Balance: 2000

Month 2: Pay 3000 on 2nd credit card
Remaining Balanace: 3000

Month 3: Pay 3000 on Car Loan. Im upside down on
the loan so this would put me around what the car is worth.
Sell Car and purchase cheaper car with cheaper insurance. 9500 CAR LOAN GONE. This frees up an extra 500 a month.

Month 4: Pay off credit card1 2000 (0$ balance now)
pay 1500 on credit card2 (1500$ balanace now)

Month 5: Pay off Credit Card2 1500 (0$ Balanace)
Pay 2000 on Misc Debt

And basically the rest is history after that.

Would like to know what anyone thinks of this.

Thanks.


Have you taken the interests on these debts into calculation? Because the debt will add on with interests and other charges every month.

You may discuss your plan with your creditors. They may offer you some benefits and you can propose a settlement also. Go through this DIY link for help

http://www.debtconsolidationcare.com/diy/

Congrats for the new job! Things will improve for you in the future. Stay positive. :)


lrhall41

Submitted by Trenity on Mon, 11/13/2006 - 13:03

( Posts: 505 | Credits: )


Tyler Excellent plan. I wish you the best. I know you and girlfriend can do it. Best Wishes KYSIDE38 :D :D :D :D :D


lrhall41

Submitted by KYSIDE38 on Mon, 11/13/2006 - 15:50

( Posts: 2477 | Credits: )


You might want to step back and take a look at it. Hopefully, your boss will work it out with you, but if not, take a look at how long you've been in the company, what you're making and whether you have benefits. Since this is a temporary situation for you, maybe your first company could cough up some OT, if that would help.
If you've been with them for a long time, I'd hate to see you leave for something that's a temporary issue, since I know how hard it is to get a decent job. Good luck!


lrhall41

Submitted by kscornell on Wed, 11/15/2006 - 18:31

( Posts: 4407 | Credits: )


The job I would be leaving I have only been there a week. it was only supposed to be from 2-7. But they want me from 11-7 mon - friday. That leaves me with only 4 hours of sleep a day for the last week.
I do get overtime at my overnight job. about 5-10 hours of OT per week. I just need to find a part time job thats 2-8or9 and that would be perfect. The gf is swtiching up jobs to a company that is in walking distance to our apartment.
This will change things. Goal number one is to get rid of the car since we dont need it anymore. That will help the most. 600$ extra dollars per month without even working another job. Si I think things will start moving fast pretty soon. :)


lrhall41

Submitted by on Thu, 11/16/2006 - 04:18

( Posts: | Credits: )


In that case, the night job definitely sounds worth holding onto. Since the hours on the first job were originally only supposed to be from 2-7, maybe you could mention that to your boss and see if you can go back to that. As far as the car, I'm in the same situation right now. I don't really need it because I work from home, my sons are all old enough to be able to walk to and from school (all teenagers). I'm just afraid that even if I give it up, they'll sell it cheap and I'm still going to be paying on the balance without actually having possession of the car.

Try to rest as much as you can in between working. When you get a chance, let us know how things are going. I'll keep my fingers crossed for you!


lrhall41

Submitted by dbaker6 on Thu, 11/16/2006 - 08:53

( Posts: 1600 | Credits: )


That would definately sound better, Tyler! I was thinking if you'd been with them for a long time and had an investment with them, it'd be one thing, you know what I mean? In my situation, I would never leave my day job, because I've been there 7 years and am fully benefitted. If it came to deciding between a night job on top of that and they conflicted, my day job would have to come first.
But you sound like you've got it all worked out--but more sleep would be good for you--especially now that we're going into cold and flu season! (Just the mom in me talking, LOL)


lrhall41

Submitted by kscornell on Thu, 11/16/2006 - 19:29

( Posts: 4407 | Credits: )