Where can I go with help with finances?

[pattypryor]

I am in a REALLY bad situation. My bills are more than I make a month. I am in over my head and I am SCARED! I have no clue what to do. I can't get a second job because of the way my work schedule is and I sold so much of my stuff. I have stopped living beyond my means, but with credit cards, doctor bills, car payment and student loans I just don't know what to do.

I make too much to qualify for Government assistance and don't know where else to turn.

Does anyone have any new suggestions for me?

I am going next week to a bank to see if I can get a loan to combine some of my debt into a easier payment...

I feel so stupid asking these things

 

BTW I am not LDS

[Guest]

Can you transfer higher interest cards to lower interest cards? If not, Start with negotiating down some of your payments. https://debthelp.consumercredit.com/video?odkwdid=consumer%20credit%20counseling&odengid=GoogleSearch&odplaid=&odkwdmatchid=Exact&oddevid=null&gclid=CKORzITW878CFQSBaQodjFMA5A is a good source if you need some help doing that. Creditors would rather have some payment than no payment. You may be able to lower interest rates and/or payments. Your credit will take a hit, but that's a consequence of living past your means. 

 

You can also negotiate your monthly payments with medical debtors. 

 

Once you get on better financial footing, stay there. Debt is a cruel master, and your options and happiness are so much more without it over your head. 

[Backroads]

A loan consolidation may indeed me a good option for you. Plus what Eowyn said.

 

Also... is there a plasma donation center near you?  It would only be a couple of hundred dollars at most a month, but still, that's a couple hundred dollars you could toss at whatever.  Tis a rather white trash solution, but it works!

[Guest]

Nothing white trash about seeing to your affairs. 

[notquiteperfect]

Move in with family or get some roommates.  

Also, there are other ways to make money besides a regular job. Decide what your skills/talents are and start telling people.  For instance, you can run errands for people, house/pet sit, make things to sell (cards, jewelry, cookies, etc), clean houses...Just think outside the box and work it!  

 

You mentioned that you've sold belongings but have you cut _all_ unnecessary expenses (cable, eating out, subscriptions, gym memberships, movies, junk food, etc)?

I also suggest changing your mindset from lack to abundance.  What you focus on gets bigger so look over these: http://thecarolblog.com/?tags=&s=money

 

Good luck and I hope things turn around soon.

[pattypryor]

Thanks everyone. I decided to put my situation on youcaring.com. I am too embarrassed to share it to friends and family. I guess if you want to know more you can private message me. Thanks for all your support.

 

I will continue to pray. I know God will always provide for me. I am just so scared!

[pam]

A loan consolidation may indeed me a good option for you. Plus what Eowyn said.

 

Also... is there a plasma donation center near you?  It would only be a couple of hundred dollars at most a month, but still, that's a couple hundred dollars you could toss at whatever.  Tis a rather white trash solution, but it works!

I don't see that as a white trash solution.  I've done this in the past when I was struggling.  I don't consider myself white trash.  I considered it something I could do out of necessity.

[classylady]

I, too, have donated plasma in the past in order to make ends meet.  I was grateful the option was there.

[yjacket]

1st off, take a deep breath.  It will be okay.

 

It is a very hard lesson to learn to live within our means; especially if our situation rapidly changes.  But this experience can be a springboard for future happiness.

 

The 2nd thing to do is to write down everything that you need to live in a month, only the essentials, i.e. food, shelter and transportation. Those are the most important things to pay for 1st.  Check to see if your food, shelter, transportation and clothing costs are more than what you bring home in a month.  If so you will need to find a way to bring down your food, shelter, transportation, clothing costs.  If you have enough to cover the basics then the rest is window dressing :-).

 

Student loans can be put into forbearance or deferrment; in forebearance you make no further payments for a set period of time and the interest stops accumulating.  In deferrment the payments stop but the interest accumulates.  While not ideal, either one can be a life-saver in desperate situations.

 

Likewise with doctor bills, I have yet to have a doctor bill charge interest and most of the time you can string out non-payment for at least 6 months before they will send it to a collection agency.  Prior to that you can call up the doctor's office and get put on a payment plan.  Ultimately if you squelch and it goes to a collection agency, the worst will be that your credit score will take a hit and you'll have them calling you to collect.

 

The same will happen with credit card bills.  Car payments are worse b/c they will take your car if you don't pay on-time.

 

Good luck.

[Backroads]

I apologize about my statement. I am a current plasma donor (it's basically being paid to read peacefully for an hour.) We aren't struggling, but the money is helpful and often makes for "fun" stuff.

Seriously, for easy money, it's a great option.

[pattypryor]

I used to give plasma, but I can't anymore sadly. My blood count was always so low and driving over 30 minutes was just a waste of gas when told I couldn't donate. If all else fails I will seek out a food pantry.

 

Also, yes I have cut all expenses etc. I hardly ever go out to eat and get everything from my library  

[dahlia]

My son gave plasma years ago when he couldn't find work. If you have an odd schedule, this might be something to look into.

 

In addition to what others have said, I'll add two suggestions:

 

1. Dave Ramsey  http://www.daveramsey.com/home/  Others have been in worse shape than you and have cleaned up their act.  Even if you don't follow all of his steps, he is worth reading. He has testimonials from people who have followed his plan; they will give you hope that you can get out of debt as well.

 

2. You may not want to hear it, but if you are truly in deep, you may need to file for bankruptcy. This will give you a new start - if you have to go this route, I strongly suggest you read Ramsey so that you don't find yourself in this situation again.

 

You are not a terrible or incompetence person. These things happen. We learn from them and move on.

[pattypryor]

I am very aware of Dave Ramsey and have taken his course. My problem is no matter how hard I try I am always at baby step number one. It is very discouraging.

[dahlia]

If you can't get past baby step 1, maybe you should consider bankruptcy. I don't say that lightly, but if you truly can't get ahead, maybe you actually can't get ahead.  Also, have you tried to change your student loan payment or get a temporary forbearance? They will work with you. Maybe a few months of no student loan payment will help so that you don't have to file bankruptcy. Finally, I know jobs are hard to come by, but since you can't work a 2nd job with the one you have, maybe you need to change jobs so that you have a more regular schedule or get a job that will pay you more money.  It isn't easy and it isn't pretty, but you can free yourself from this situation.

[pattypryor]

I recently decided in order for me to actually, possibly get ahead with bills and finally pay them off I should consolidate like 7 of them into 1 or 2 payments.

I looked into Lending Club and Prosper and the interest rates are high, however I have a 5 year plan and I am hoping to put more towards it when I can to pay it off in 3 to 4 years.

I also thought about Consumer Credit Counseling. I just don't know if this is a better route. I don't want a huge payment each month where I am still in the same place I am now.

Would love all you financial gurus thoughts.

[pam]

Personally I'd stay away from any of these lending places especially those with high interest rates.

[Backroads]

If you have multiple debts with one creditor,; I'd prefer you speak to them directly about consolidating. I second Pam on the lending places.