Need Help to save my home

I had many expenses in recent months mostly due to medical problems with one of my children. During this time I made terrible decisions concerning my finances. I fell 3 months behind on my mortgage and took out an equity loan which is now behind also. I made arrangements to pay back my mortgage and now cannot pay that.

I also have fell behind on my electric,gas, etc. bills. I cannot sell my house because I have 5 children living at home. My income is not bad, but I cannot catch up fast enough to save my home at the rate I am going. Is there any help for someone in my position? I am too stressed at this point to try to solve this by myself. I would greatly appreciate any advise on this. Thanks very much.

Sorry, I can’t give you much advice..my first post here was just a few days ago because,like you I feel so desperate. I know that the people here will give you some good advice. My problems also started from medical bills due to accident my son had.When I found this board, it was such a relief. Even though I wouldnt wish the stress of debt on my worst enemy, it does somehow help to know that you are not the only person in the world in this boat. I just hope to have “peace of mind” at some time but it is hard to see the light at the end of the tunnel. I did several loans myself and paid that ridiculous interest every payday…then in Dec. lost my job and have only sent each place 20.00. Talk about a humiliating experience!

Good luck…like someone told me as far as the bill collectors “they can’t eat you”…not much comfort I know..but its true..feel free to e.mail me for support.

I have not personally been in your shoes so I feel my advise might be simplistic and unrealistic but it might be a place to start. Hopefully someone with experience with this will reply and have better answers.

The first thing I would do is sell everything you can. Clothes that don’t fit right, knicknacks that you don’t really need, books, cds, everything that you can live without. Ebay seems to be the best option to turn a profit and what doesn’t sell on ebay you can put in a garage sale.

The next thing you could do, (with five kiddos at home it may not be possible) a second job can help. A job that you can get tips from is even better. Three or four nights a week for a few months could really turn things around.

Don’t give up hope, people do pull themselves back up from this kind of thing. You and your family will be in my prayers.

This is an illusion and people will get taken in by it…

This is an illusion and people will get taken in by it. Oil prices are being held artificially lower until after the Fall election through the release of emergency oil reserves. Then watch out for the heating season when they plan to make it all back in spades. Best to stock up now and save for the eventual. Many economists expect gas to go to nearly $5 by next summer, especially if we have a go at it with Iran or Venezuela – both likely scenarios.

When I heard them saying that on a morning news show I thought how stupid and who put them up to saying that ? I’m reminded of something my Mom used to say where her children were small “A fool and his money are soon parted” I should have listened to my dear Mom! I’m improving though!

We should all be so embarassed 😎 When I was 45 I asked my dad for a loan that I KNOW he could have afforded and said he could not give it to me. A very good friend came through for me and I was able to keep my house. Sure it might be embarassing, but if I had relatives who could help, I would ask. I understand that is what family is all about (I put it in that way as not my family).

And if you’re into ‘subliminal messages’ TARGET’s new ad has a rock song style singing: “Don’t stop livin’ in the Red” so even though their trademark colour is Red, “Don’t stop livin’ in the Red” can also be “Don’t stop owing to the card …!”
I am working on climbing our family out of debt, but feel like I’m not
getting anywhere.

We make $5700 a month, approximately, to support a family of 8. I
spent a year being so tight that I squeaked with every step (made our
own laundry soap, bought absolutely nothing, etc) – and got really,
really tired of that.

Debt:

Car payments – $480 a month for three cars. We had one sedan each when
we married 18 months ago and had to purchase an SUV in order to
accommodate our new family size after marriage. I am not sure of the
balance owing on two of the cars – the loans are through my
father-in-law. My Chevy Aveo has 4,294.87 owing on it.

Student Loans – $53.913.93 that I know about (my husbands). They have
never been paid on because he ended up with health problems and too
many kids and a non-functional spouse right out of college. I don’t
even know where to begin with them.

Lawyers – $2220.99 that husband owes for custody of his kids and another $8,900 that I owe for custody of my son (trial still pending, so that is due to increase). I do get $480 child support a month, he gets nothing for his kids.

Medical Bills – $3,000 or thereabouts. I have been trying to sort out what we actually owe and what collection agencies are double-billing us for, etc.

Tuition (for me) that was supposed to be reimbursed by my job and was not – $1185.57

A lease fee for an apartment that became not safe for me and I had to flee (related to the ex-spouse) – $1445.04 + whatever exorbitant fees that I stopped keeping track of.

A couple other miscellaneous “dumb” credit accounts (Dell and a Mastercard that I am paying off with savings) – $1000

I make sure we put money in savings with every check and fund our 401K plans. I have done nothing about college funds, but our kids are 10-15 and will need something soon I suppose. We also make sure to tithe.

Currently, I am attempting to put 10% of our checks into debt, but it always seems like we are robbing Peter to pay Paul somewhere and I get discouraged. Help and bother!!!!

Don’t worry about your creditors

Don’t worry about your creditors. I don’t. We had 42K in cards ALONE. Throw in another 20K for hubbys medical bills and you can see you’re not alone being in debt. We have been in a debt elimination program for 2 years now, and are slowly getting out of the hole we dug for ourselves. So far none have threatened to come after me, just that they were going to check public records to see if I had any assets. I don’t… anyways I think it was a scare tactic. If they start to call and harrass you, you can contact the PFDC, and they will send you a creditor log sheet to log the calls. I am not sure if you have to be in a debt program for them to help. I personally changed my phone number. Good Luck in getting out of debt.

I’m new to the GammaInternational also and I’ve been following the responses to your first message. There is good advice given in each one. I’ve learned that everyone’s situation is different, yet we all have one thing in common, DEBT, and the only way out of debt is to make some money to pay it off. Taking care of your grandmother is a good and noble thing for you to do, but it pays you nothing to help you out of your current situation.

If your grandmother needs care with her ADL’s, then there are other options for you and her both. She maybe eligible for in home nursing care through Medicare/Medicaid or her private insurance. Enlist the help of other family members to take shifts while you find a job. You’re only 21 and at this stage of your life, you should not be burdened with debt or the care of an elderly relative. Watch this video to find out more:

Your situation is not as hopeless as it seems, but you are the only one who can change the direction in which it is going. Be encouraged and know that there are so many other people, myself included, who are struggling with debt, but are taking control of it by making choices that will have a positive impact on their finances. I wish you all the best in the days ahead and I’m here if you just need to talk.

Hey, I’m also looking for a place to start getting back on track. My husband and I bought a new home two years ago. That’s where our trouble started, we used the profit from the sale of our old house and our savings to put donw on the new home. We had figured with his raise and bonus we could rebuild our savings. There has been no one major event leading to our troubles but just a series of little annoyances. My daughter decided in June to move back home from college and with no savings to bring her home, I took that month’s mortgage payment and used it. Things have snowballed.

I now owe three mortgage payments, have shutoff notices on the utilities and back to school expenses. I’m on the verge of having panic attacks thinking I’m starting another month worse off than the previous month. Where do I start? I’m scared to death of waking up one morning and finding a foreclosure sign in my front yard but not being able to read it because the electricity is shutoff.