it begins...and doesn't end
Date: Mon, 09/27/2010 - 21:31
lets start by stating that my total debt:
$16000 - medical bills
$6000 - unsecured credit card debt
$9850 - car note (285 @28%, i usually pay $300/month)
$40000 - student loan debt (default)
currently unemployed after losing my job of a year (fired). monthly income is about $1300/month now. graduated in 2008 so short employment history.
How did i get here? well...
if you don't really care for the story and just have some good advice just skip the next few paragraphs:
I graduated from a UC school in California with about $32000 in student loans and some credit cards in 2008. i had part-time job and paid for rent with it and whatever i could spare immediately went back to paying off student loans (i was paying maybe $200/month to student loans). i was determined to make it after school. i got a full time government job that was a little far for travel but considering the economic situation at the time i jumped on the boat...being heavily out-armed against other job seekers. good pay, not great, but who am i to complain.
i needed a car that could make the trip so i bought a cheap economic car from a dealer that i knew could handle the drive to LA everyday for about $12500. they wouldn't give the car to me for anything less than 28% interest and i finally caved and took it out of desperation. It was okay though, i had a good job (or so i thought) and was making enough to cover all my expenses.
Here is where it gets interesting, i got FIRED (maybe not that interesting)... yep, i got fired about a year later 1 week before the end of my probation period. Don't judge me wrong, i didn't do anything bad. i showed up on time everyday, volunteered for the extremely difficult, unnecessary work and did more than most of the seasoned employees there.
to cut this short, i was fired and on my last day my supervisor whispers to me..."i never liked you, it was [male upper management] who wanted to hire you" well, that male upper male management left midway through my probation and i didn't realize he was the buffer between me and the wolves. i recalled all management and they are all females all promotions went to female employees, there were plenty of smart men there that deserved a promotion as well but every opportunity went to a female. how could i be so blind?
this brings me to my current predicament. i took a government job because i could eliminate my student debt a lot sooner, but i didn't realize it would be the cause of me being blacklisted. they hold a permanent record of my firing and no state agency has dared consider me for a job since. I am having a hard time finding any job. i did manage to get unemployment outta it, but that's not what i want (or need).
my student loans went into default. i can no longer access transcripts. i asked repeatedly for forbearance and deferments and was refused/denied. if i sell my car, i still will owe on it and that is no help. i registered with a debt management company named Take Charge America (TCA) non-profit company to help with credit card debt but since then i have accumulated $16000 in medical bills (for two separate days laying on a hospital bed where i received some Morphine, go figure). i did not want my student loans to go into default and argued everyday why they were denying my forbearance.
I was offered a job recently and could not provide transcript because of default, so i was denied the job. I am stuck in a drain and can't get out. i pay my CC and student loans go into default, pay my loans and CC rise dramatically... i can barely pay for the basics, i don't have a cell phone, the cheapest internet i could find and thought about just filing bankruptcy but i don't see how they will help me outta my necessary hospital expenses to come and really won't fix anything. i just want to get outta debt... and not seeing a way to do it really. i am hoping someone here can help me with that...advice anyone?
What do i do about the job, deny i ever worked there, lie about it...? i don't have that long of an employment history. i am not a seasoned pro when it comes to job interviews (even if i got any, these days). I feel my previous employment is coming back to haunt me especially since i don't know how i should approach my debt and my previous job with prospective employers. i am actually looking for my advice about approaching new employers than my debt because there is no reason to discuss my debt if there is no money to back it up.
edit:
removed some "fluff":eek:
$16000 - medical bills
$6000 - unsecured credit card debt
$9850 - car note (285 @28%, i usually pay $300/month)
$40000 - student loan debt (default)
currently unemployed after losing my job of a year (fired). monthly income is about $1300/month now. graduated in 2008 so short employment history.
How did i get here? well...
if you don't really care for the story and just have some good advice just skip the next few paragraphs:
I graduated from a UC school in California with about $32000 in student loans and some credit cards in 2008. i had part-time job and paid for rent with it and whatever i could spare immediately went back to paying off student loans (i was paying maybe $200/month to student loans). i was determined to make it after school. i got a full time government job that was a little far for travel but considering the economic situation at the time i jumped on the boat...being heavily out-armed against other job seekers. good pay, not great, but who am i to complain.
i needed a car that could make the trip so i bought a cheap economic car from a dealer that i knew could handle the drive to LA everyday for about $12500. they wouldn't give the car to me for anything less than 28% interest and i finally caved and took it out of desperation. It was okay though, i had a good job (or so i thought) and was making enough to cover all my expenses.
Here is where it gets interesting, i got FIRED (maybe not that interesting)... yep, i got fired about a year later 1 week before the end of my probation period. Don't judge me wrong, i didn't do anything bad. i showed up on time everyday, volunteered for the extremely difficult, unnecessary work and did more than most of the seasoned employees there.
to cut this short, i was fired and on my last day my supervisor whispers to me..."i never liked you, it was [male upper management] who wanted to hire you" well, that male upper male management left midway through my probation and i didn't realize he was the buffer between me and the wolves. i recalled all management and they are all females all promotions went to female employees, there were plenty of smart men there that deserved a promotion as well but every opportunity went to a female. how could i be so blind?
this brings me to my current predicament. i took a government job because i could eliminate my student debt a lot sooner, but i didn't realize it would be the cause of me being blacklisted. they hold a permanent record of my firing and no state agency has dared consider me for a job since. I am having a hard time finding any job. i did manage to get unemployment outta it, but that's not what i want (or need).
my student loans went into default. i can no longer access transcripts. i asked repeatedly for forbearance and deferments and was refused/denied. if i sell my car, i still will owe on it and that is no help. i registered with a debt management company named Take Charge America (TCA) non-profit company to help with credit card debt but since then i have accumulated $16000 in medical bills (for two separate days laying on a hospital bed where i received some Morphine, go figure). i did not want my student loans to go into default and argued everyday why they were denying my forbearance.
I was offered a job recently and could not provide transcript because of default, so i was denied the job. I am stuck in a drain and can't get out. i pay my CC and student loans go into default, pay my loans and CC rise dramatically... i can barely pay for the basics, i don't have a cell phone, the cheapest internet i could find and thought about just filing bankruptcy but i don't see how they will help me outta my necessary hospital expenses to come and really won't fix anything. i just want to get outta debt... and not seeing a way to do it really. i am hoping someone here can help me with that...advice anyone?
What do i do about the job, deny i ever worked there, lie about it...? i don't have that long of an employment history. i am not a seasoned pro when it comes to job interviews (even if i got any, these days). I feel my previous employment is coming back to haunt me especially since i don't know how i should approach my debt and my previous job with prospective employers. i am actually looking for my advice about approaching new employers than my debt because there is no reason to discuss my debt if there is no money to back it up.
edit:
removed some "fluff":eek:
Are you current on everything but your student loans? You might
Are you current on everything but your student loans? You might consider not paying on the ccs so you can rehab your student loans and then working out a settlement with your cc companies later. Just a thought.
Quote:Originally Posted by OhioGal1Are you current on everything
Quote:
Originally Posted by OhioGal1 Are you current on everything but your student loans? You might consider not paying on the ccs so you can rehab your student loans and then working out a settlement with your cc companies later. Just a thought. |
yes i am current, but because i am in a debt program. if i fall out of it then the interests will fly right back up. my initial plan was to attack the smallest debts first, obviously the CC's. I was paying my students originally but not paying my CC's and i watched my credit cards balloon from about $3000 to about $7000, not to mention all the interest i've accrued...there is no win here, everybody wants Payment in full and i just can't do that. nobody seems willing to work on a resolution except to garnish my wage (which i have none). i'm a few steps from just leaving the country...i thought i could have the CC's paid off before my loan went into default, but due to loss of my job it didn't work out. I'm at a loss.
Yes but if you settle the CC accounts at 30ish% of the balance,
Yes but if you settle the CC accounts at 30ish% of the balance, you'll eliminate all of that interest. I'd consider it.
Quote:Originally Posted by OhioGal1Yes but if you settle the CC
Quote:
Originally Posted by OhioGal1 Yes but if you settle the CC accounts at 30ish% of the balance, you'll eliminate all of that interest. I'd consider it. |
i thought about but from what i hear you have to pay taxes, as if income, for the settled balance of the accounts. It will take awhile to bring my student loans back from default unfortunately. i can see the CC debt doubling in that time and even if they did decide to settle it would be on a much higher balance...in fact, what i am still paying is all interest accrued from not paying previously, I've already watched the CC's doubled and argued with the companies who would not settle for less that 75%....even if i could pay them in a lump sum (which i can't). i have thought about letting the cards go back into default but watching them double again doesn't sound too appetizing.
Is there any short-term way to put them at bay without completely ignoring them?
You don't have to claim the interest on your 1099C and, if you c
You don't have to claim the interest on your 1099C and, if you can prove you're insolvent, you won't have to claim it as income either. Another option would be to see if your CC companies will put you on a hardship plan. They usually lower your interest rate and your payment while you're on the plan.