Taksmom476 story and why I am here
Date: Wed, 01/17/2007 - 07:06
We started out with 2 incomes an no children,,now 1 income and 3. I admit i was not so bright and got into the whole cc mess. I charged alot on them in my early 20s and have not used them in almost 10 yrs,but still stuck with high balances and such.
I went into a credit management program and paid on that for a while but when we moved the bills in our new home got much higher and our income did not, so I stopped paying on the ccs.Needless to say they all went into charge offs collecors, debt buyers and the whole works.
I admit I chose to walk away from cc obligations.I have talked to many consolidation companies and such but quite truthfully the payments were still too high for me, so I was thinking bankruptcy.But I'm still keeping that my last option.
My plans are to 1st get all our back wage taxes, and medical bills paid off.I am working on a budgeting plan now for this year.Also hopefully I can get some computer classes in before my youngest gets to school in 2 years, so that way possibly I can get a job at my local bank here while the kids are in school.
Most of my ccs are past sol or close so I'm putting those on hold for now. I know morally i have a obligation to pay them .which I plan on as soon as I can save up some money and get back to work.Even if it takes me 10 yrs I will do the right thing,but right now I have an obligation to provide for my children.
Sorry this was so long!!
Hi taksmom you've come to the right place, this forum is great.
Hi taksmom you've come to the right place, this forum is great. If you've filled out the form, there should be counselor calling you soon. We all end up in tight spots at some point. Keep your head up, it will all work out.
Those debts that go past the SOL period cannot result legal acti
Those debts that go past the SOL period cannot result legal actions against you. However, if you make a payment on that account, it will become current and you will fall within the SOL catch. If you miss a payment later, the creditor or the collector can take legal actions before the SOL runs out again. Now, you'll also have to consider the age of the account. Negative items stay in the credit report for seven years. Once they are removed from the report, there is no effect to your credit. Making a payment at that time, it will be like digging a can of worms.
Yes, definitely your current bills and obligations have to come
Yes, definitely your current bills and obligations have to come first. When you are in a position to, I would pay the taxes on back wages first. You don't want to hold off on paying the government back. As far as the credit cards that are still in the SOL, I would contact them and see if you can work something out with them. As far as the credit cards that are outside the SOL, I would put those on the back burner. If you do decide to pay them later, make sure you're financially going to be able to pay them off. Otherwise, as aciotsf stated above, once you send them a payment, you reopen the SOL and they can legally come after you if you miss a payment. The best of luck to you. Let us know how you're doing.
Welcome to the Community :D Don't feel so bad, we all have been
Welcome to the Community :D Don't feel so bad, we all have been there,done that! At least you are wanting to make a change with a budget,etc. Those back taxes need to be taken care of, even before the medical bills, they can get nasty if you don't!! Maybe you can babysit others children while your child is small. I did that years ago for a little extra money. Good Luck, if you have any questions, please ask..KAren
