Help...where do I start?!?!?!
Date: Fri, 08/04/2006 - 23:13
My name is Kevin and I live in a small town in Georgia. I am married and we have 3 children..own our own home (well, the bank owns it - they just allow me to live here for monthly payments :roll: )...
We have good credit (hovering between 695 - 702), but our DTI and current bill situation is killing us.
Some how or another, we have managed to get our payment calanders screwed up and ended up with the bulk of stuff (including most of the high bills) due at one time.
Stupidity prevailed...we saw we had more money available at a certain time of month and we have become more seriously in debt now. To the point that we scrounge for money..and sometimes even have to rob Peter to pay Paul.
Our home is maxed at 100% LTV - we didn't learn lessons from previous hardships - and we have nothing else to borrow against.
The house, two newer vehicles (I have already laid claim to stupidity), and two dirtbikes (mine and my 10 yr old sons) are the only things I have of value (major value that is)..but the problem ,is that I could not sell the vehicles or motorcycles and get enough to pay them off.
The house hits the market sometime between now and February (07). I plan on building again (the only real way to build lots of equity) and will be able to handle all of my bills at that time...I'll explain if asked to do so.
But I need help now!!! I am $500 short of making this months bills - same thing last month....we are getting in a rut and need help. I don't want next month to be the same way.
I do not want a settlement!!! I created the debt therefor, I should have to pay it in full.
I am looking for some short term consolidation..short term is about a year to two years worth, just so that we can get finances in order while we build our new house and get out from under this financial burden we are under.
I do not want to watch my wife cry herself to sleep anymore!!! Nor do I want to lay there building an ulcer stressing over everything.
My wife and I both have good jobs. We average about $72k annually - her checks make the housepayment, mine makes everything else.....I also have my own residential design business that is slowly picking up pace.....but things just still aren't connecting.
Can someone please offer some suggestions as to where we can turn for help with our finances????
We have good credit (hovering between 695 - 702), but our DTI and current bill situation is killing us.
Some how or another, we have managed to get our payment calanders screwed up and ended up with the bulk of stuff (including most of the high bills) due at one time.
Stupidity prevailed...we saw we had more money available at a certain time of month and we have become more seriously in debt now. To the point that we scrounge for money..and sometimes even have to rob Peter to pay Paul.
Our home is maxed at 100% LTV - we didn't learn lessons from previous hardships - and we have nothing else to borrow against.
The house, two newer vehicles (I have already laid claim to stupidity), and two dirtbikes (mine and my 10 yr old sons) are the only things I have of value (major value that is)..but the problem ,is that I could not sell the vehicles or motorcycles and get enough to pay them off.
The house hits the market sometime between now and February (07). I plan on building again (the only real way to build lots of equity) and will be able to handle all of my bills at that time...I'll explain if asked to do so.
But I need help now!!! I am $500 short of making this months bills - same thing last month....we are getting in a rut and need help. I don't want next month to be the same way.
I do not want a settlement!!! I created the debt therefor, I should have to pay it in full.
I am looking for some short term consolidation..short term is about a year to two years worth, just so that we can get finances in order while we build our new house and get out from under this financial burden we are under.
I do not want to watch my wife cry herself to sleep anymore!!! Nor do I want to lay there building an ulcer stressing over everything.
My wife and I both have good jobs. We average about $72k annually - her checks make the housepayment, mine makes everything else.....I also have my own residential design business that is slowly picking up pace.....but things just still aren't connecting.
Can someone please offer some suggestions as to where we can turn for help with our finances????
kma--Sign up for this forum, and a counselor can call and help y
kma--Sign up for this forum, and a counselor can call and help you to figure out a solution. And us Debtcc'ers can help you along the way too. :)
What types of bills are you trying to consolidate? Can you call your creditors and ask them to change your payment due dates?
You should also figure out which bills you pay that you could really do without. Cable TV, Cell phones, etc. This adds up very quickly. You'd be surprised how much money you can "find" that way. :)
One thing to remember is no matter HOW desperate your situation, do not fall into the payday loan trap. YOu didn't mention yet that you have, so if you have not, DON'T do it..
