Just my two cents. :)

Well, if it were me the first thing I’d do is stop investing for awhile. Not permanently but until the debt is paid off. I’d work my butt off to get $1,500 to $2,000 for a baby emergency fund and keep the house, cars, and utilities current and every one fed (cheaply) and gas in the vehicles.

You don’t say what your rent/mortgage is or whether the debts (lawyers, medical, tuition, lease fee and the dumb credit accounts) you listed are being paid on or languishing. If they aren’t being paid on, where is your money going?

Do you need all three vehicles? If not, sell one or two of them and put that money first into the emergency savings and then into debt. Just my two cents. 🙂

We have the emergency fund, and the house, cars, utilities are current. (Except for last month when the heat bill was HUGE and I paid half one paycheck and the other half now.

Rent is $2100 (ouch) for which my mother contributes $600 in exchange for room and board. Being a large family, housing has been tough and we are stuck in this location because of ex-spouses/custody limitations. Groceries are the bane of my existence – $250 to 300 a week to keep three adult and five growing teens fed healthy. And gas @$3.50/gallon and rising…. We bus to work.

I am paying small amounts on all debts and focusing on one at a time to make larger payments, but getting discouraged. We need two of the cars – SUV to accomodate the whole family for church and such, and one smaller car for driving to the park and ride for work and errands (SUV drinks gas). I am trying to dump the other car, but it does not seem to sell. Kids being teens will want to be driving soon, and I also don’t want them driving the SUV (too big, too easy to roll, etc).

I would get in touch with the student loans now, and make some sort of arrangements. Because they can and will come after you with a vengenance, and they don’t care about other obligations, they are getting very aggressive. But if you get in touch with them now, there are things that can be done.

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!!!!

Is it possible to really repair your credit?

I’ve been a member of this blog for some time now and I am thankfully to read each new post and reply because they hold some small shimmer of hope for me. I am 34, married with four children. I have been out of work since Jan. 2007 and my husband just filed bankruptcy (ch.13). I did not file. In 1997 I had a discharged chapter 7.To be quite honest, my husband and I have a rocky marriage at best.

And I really feel like I need to concentrate on becoming a more responsible adult and clean up my credit so that in a year or three from now I’ll be able to have nicer things for myself / my children should my husband and I divorce. The only problem with that is … I don’t even know where to begin.

In 2006 I had my youngest son. My husband never turned in the paperwork to have him added to our insurance so … now I have a HUGE dr. bill on my credit report. In 2001 I had emergency gall bladder surgery THE DAY my health insurance kicked in. I have been trying to get that paid for for… years to no avail. That is alone $10,000 or better.

There are a lot of small items such as utilities (all the bills are in my husband’s name) and I do have one auto repossession. They want me to make payments on a $4000 – $5,000 debt on the car (the majority of which is INTEREST). Other than that, that’s all I have on my credit report.

I would like to lease a vehicle within the next year but I don’t even know where to BEGIN to clean up my credit. I have had a very hard time getting my credit report from Equifax and Transunion. They ask security questions that I honestly don’t know the answers to and then when you call their customer service department you get someone from India or Pakistan and you can’t understand a word they say nor can they understand you!

I know that my highest credit score as of three weeks ago was 569 and my lowest was 498 – luckily I just applied for a loan and they were nice enough to give me my scores.

Is there hope for me?? If I go back to work within the next month is it possible to get these things paid down quickly (yay economic stimulus package!) and nurse my credit score back to health? If so, are there any suggestions for doing so??? I’d like to try and lease a car by winter for dependability issues.

Thanks for your help and advice in advance. You guys are all great!