Financial distress??? Lets speak out.......

[mili]

Welcome To Our New Thread.

Each one of us is unique, with different families, pasts, feelings, dreams, and problems. Even though we may have similar struggles with financial distress, we each have a different story about how those struggles started and how they grew. Sharing our own story will empower ourselves with new understandings to take the right steps to a better tomorrow.

Here is my story.

Due to almost three years unemployment, and the theft of my husband's work tools, by Champion Tire, we are going through foreclosure and bankruptcy. It has been our financial undoing. Our credit is now so bad that we can't refinance the house and because we've fallen so far behind in payments, the bankruptcy courts are ready to throw us out of our house .In addition then creditors could come after us for almost $100,000 of unsecured debt.

We have tried many financial avenues to try to correct the problem, I am seeking work as a trial consultant, and am advertising on the internet. He is seeking regular employment as an auto mechanic but has very few tools. We have tried to start a business and have some one willing to invest in us, but we do not have the $10,000 necessary to pay legal fees for the investment of stock, in our newly formed company. Additionally things are complicated because we are taking care of my husband’s 80 year old mother. I fill some relief by expressing my self.

Thank You for reading my story

Mili

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[lingirl]

I started college in August 2000. I had no car and no job. I depended on my parents for financial support, being that I did not qualify for grants and only small loans because my parents' income is over the limit. However, they could not afford to give me much. I have worked at 3 on campus jobs, the Dollar Tree, a deli, and now IHOP. I work 66 hours a week and go to school for 12. I feel like those 12 hours and the hours I am supposed to be studying for those classes are times the prevent me from working. I guess it will pay off in the long run. THis is my last semester, after all. I have a horrible immune system and many health bills to go along with it. To top it off, a falling out with my parents recently leaves me with no support whatsoever and about to be scratched from the health insurance when I graduate college. Don't feel sorry for me, I know others have it worse. At least I am not responsible for providing for a child or anything like that. Hopefully my financial situation will look brighter in the near future, but I will never stop coming to this board to find out how to save money. It's the best!

[Unicornmom77]

I am ussually not much for speaking out on here, but I will share our finicial story.

We are married with 4 children ad supporting my mom while she awaits dissability, My husband makes under $8.00 an hour and we recieve housing assistants from the state and food stamps, also Medical coverage for the children. I am a SAHM, mostly by choice, but if I were to go out and get a job it would effect our assistance greater than my job pay would be and put us further in the hole, For instance if I got a job and made $6.00 at 35 hrs a week I would bring home approximatly $180 a week, or $720 a month, now depending on hours I would have to pay for child care for up to FOUR kids, lets just say TWO kids full time for the sake of conversation, Two kids at $2.10 an hour, 35 hrs a week, is $146 a week in child care, so now I would be down to bringing home $34 a week, hardley worth losing most of my foodstamps and our rent going up $100 or more a month!! Anyway, I just wanted to explain my point of view.

We have severe debt, we are planning of filling bankrutcy whith our taxes this year, I cannot get approved for a $.10 loan!! LOL We have ALOT of medical bills, EVEN MORE past due utilities from places weve moved from, we have several landlords we owe from moving, and some banks for overdraft charges, alot of smaller bills that just add up on your credit report.

We havent started any new bills since November since things have to be so old before you can fill bankruptcy on them. We only have our Utillities, car insurance, rent, phone, computer payment, and persoal items to buy each month, nothing on credit, and the PC is Aarons lease to own, bad situation, but the only way we can afford a PC!

We plan on filling Bankruptcy and then reestablishing our credit somehow, not sure just how yet. But that is our goal for this year.

[erniemarie]

well I am like unicornmom77, I don't like speaking too much on this stuff because I always think someone will flame me for something, anyway, I have completed a two year associate degree as well as 100 hours of my bachelor degree and accumulated a lot of student loans and debt from that, I had to quit school to work full-time because the financial aid and part time income I was receiving was inadequate to meet my rent and bills, after quitting school I found the job market was so bad the area I was living in that I spent four months unemployed and looking for work before I was lucky to find a job as a waitress at Waffle House, while unemployed I ended up several months behind on my rent, phone and utilities and once I was working I began paying on them but eventually had to move to another apartment (in a really bad neighborhood) with two roommates, we ended up being evicted from the apartment for not paying rent (I was paying my share the other two weren't) shortly after I found out I was pregnant and had to give up my job, I ended up several thousand in debt due to unpaid rent and utilities as well as losing everything I owned when the apartment was broken into, now I am living with my parents because I have nowhere else to go, and I am on work restrisctions while pregnant so I am unable to work until 3 months after my twins are born, I am in the process of getting a defferment on my student loan repayment as well as planning to file bankruptcy, after I am able to go back to work, I am planning on living here/paying parents rent while I save up enough to get my own apartment and go back to school part time/work while raising my children as a single mother

[Red64]

I am not ready to talk about mine yet, but I just wanted to thank everyone for sharing. I am listening.

[mili]

Thanks. lingirl,Unicornmom77,erniemarie,Red64, for sharing your stories with us, we all wishing you the very Best and a happy and positive tomorow.

Mili

[karefree]

Thank you for sharing and putting my problems, which are few by comparison, into perspective. If anyone has access to articles on the web from Clark Howard, I find him to be very knowledgeable about financial situations. Good luck to everyone.

[ezmoney163]

http://www.google.com/search?hl=en&i...=Google+Search


and



http://clarkhoward.com/

[turbob]

I am a 48 year old women w/ a 22 year old son - he is almost through his junior year of college. I make 9 an hour in an office job - I am blessed to have it as I have no degree - never went to college. My son lost his job when the business he was working for was bought out by Wal-mart. Last year at this time, Bush cut the funding for the engineering think tank I was working for- I was making 15 an hour with paid for health benefits, 401K, etc. All of that is gone now - cahed in the 401K to live on while I looked for another job. Neither my son or I have any health insurance - can't afford it. We share a car, but we have both been riding the bus as gas and insurance is expensive. We live in an apartment in a not so good part of town, but it isn't too bad. If we can just make it through another year and some until he graduates, everything will be ok. But, we have a place to live and we eat everyday, so I know we are doing better than a lot of people out there.

[MamaFairal]

Wow i am in awe of how strong everyone is to keep going on! Bless ya all!

I am also a single mom(i am 40)of two almost grown daughters. They are 16& soon to be 21. The oldest lives on her own, the other with me.

I left a drug invested(i used also)abusive marriage(read my previous threads) and relocated to NH and lived there for 9 yrs before losing my home there due to something stupid. I relocated then to Mo in 2002 and am slowly rebuilding again. I arrived with my truck and pulling a U-haul of boxes.I add that when i lost my home in NH i had sent my daughters to live in Calif with their father.

I work F/T making less than $10 hr and just recently got into housing here in KC.What everyone else would call the "Projects" but to us its a home we can afford.And finally after a yr and a half of being apart we are all finally together again

We have our home.....Oldest dot works an has her own place here in KC. Slowly rebuilding our belongings and are lucky enough to have a truck that refuses to quit.Knock wood!
I have been doing ok so far with bills.I have rent,elect,gas,cable and insurance and i get $167 in FS that i have been able to manage so far. I shop very frugally and my girls know i do the best i can to keep us all together.Which is most important to us.

Health insurance?? What is that?? Luckily i had medicaid in NH where i had two back surgeries in 5 months time....still bothers me but i deal with it.But i have no insurance now....DD does get state help here in KC so she is covered till she turns 18.

I know i am in debt from my two marriages and have no credit i can count on, but having a home and being able to eat every night when i see so many without is a daily blessing to us.I have such a soft heart and would take in all i meet who are down and out but know i cant or i lose my housing again for having "un-authorized" staying with you.My DD's say i need to tell people NO and worry about ME! Thanks for listening and sharing with me also

[schsa]

It won't remain like that forever. I have had my ups and downs. Fortunately for me I am single and the only one I have had to worry about is me. I hate to tell you what my debt was about 6 years ago. It was almost as much as I was making. I was sick and out of control. I had a horrible job, a broken relationship, mental illness and I spent money like I had it to spend. Yes, everything that happened was pretty much my own fault. And it hasn't been easy.

It has taken that long plus another year or two and I will be out of debt for the first time in my adult life. I managed to buy a house by the grace of God. And I finally have a job that pays me a living wage. It hasn't been easy. Alot of tomato soup and crackers along the way. But for the first time in years I have money saved.

It does change. And it isn't easy. Those of you who have been able to keep your marriages together are fortunate. You have it much harder because you have to support each other emotionally and that can be very draining.

I am getting closer to 50 and it is finally going to be alright.