Stressed about harassing calls from creditors---things seem bleak
Date: Mon, 05/14/2012 - 11:50
One of my creditors (BofA) talked with me about what I owed, we discussed my budget, etc., and they basically said they would charge off the debts as they didn't see anyway I would be able to make even their minimum monthly payment option (which was $200+ dollars a month). I have not had the same luck with other credit card companies or the pay day loan companies.
Things are looking very bleak as I do not have an emergency savings, am still so sick that I have not had a full paycheck since my illness started last year (but not sure if I qualify for disability) and am living in a state of high anxiety trying to figure out which necessity I can pay for this week, etc.
I was always the person helping others when they need money, and now that I am the one needing help, I find myself mostly alone. :(
I want to be married and have children in my future. My current financial problems make me worry that it won't be possible for me to be a mom. And if I can't be a mom, I really don't feel the reason for being alive. I know that sounds bad, but I am just trying to give you an idea of how bad my anxiety and stress is around the credit card and pay day loan debt. Some of the debtors have tripled the amount I owed them (a $350 loan I already paid $350 in interest payments is now $1,600+ I am receiving calls from a "law firm" saying that I am being sued and to call them back within 24 hours.
I just don't know what to do and am totally stressed about it.
I think bankruptcy is the only option as I just don't have the money that some of the creditors are asking for in terms of a settlement amount.
Are their debt consolidation companies that focus on helping those with Pay Day Loans?
Right now my debt is easily over $30,000 and I make about $50,000 a year before taxes. I do not have anything that I really own except for some used computers.
I am not trying to be rich, just have enough money so I can pay my bills, put some aside for savings, and not have to borrow money for food, etc. I want to be able to buy a friend a gift for their birthday or housewarming, etc. Just a simple life, nothing extravagant.
This is what happens. People will not be there beside you right
This is what happens. People will not be there beside you right now. However, don't lose all your dreams and hope. You'll be married and have children in future. Don't get over stressed. It seems that you're going through a debt depression.
There are debt consolidation companies which can help you in paying off your debts. You can go through the following list to get a list of debt relief companies:
http://www.debtconsolidationcare.com/companies/usa-listing/
I think bankruptcy sounds like a good option given the situation
I think bankruptcy sounds like a good option given the situation. You should consult a bankruptcy attorney. If that doesn't sound good then you can try cccs.net. They are a non-profit credit counselling service.
I couldnt disagree more, at least at this point..... Why would
I couldnt disagree more, at least at this point.....
Why would anyone recommend bankruptcy without even knowing what the actual position is that they are in? For example, the OP mentioned a $350 loan--most likely a payday loan. Do you even know if this is a legal lender or not? If not, then that debt no longer exists!
To the OP, we can do a little digging if you would like, to see what lenders you owe money to. Payday loans may not even be legal. Before you jump to a hasty decision like NathanilCopeland is telling you, lets slow this down a bit and see what exactly you are dealing with......please PM me if interested.
Jon
listen to skydivr
Be of good cheer. Dont let this get you down! there are thousands in a situation just like you....including me. So, take a deep breath and remember you have to face the clouds before you can see the silver lining.
Have you received a summons? if so you need to file a response to your local clerk of the courts. It is very simple and easy. This buys you time to get better advice.
Best wishes,:)