Debt Advice Desperately Needed....Please!

[princess&her4princes]

Sending you hugs!! Best wishes at this difficult time!!

 

[friskykitten]

Just wanted to let those who may think we are irresponsible pet owners since our dogs are not nuetered or spayed know that the reason they are not is that they are our show dogs. Of course, letting them get together when we were not wanting a litter isn't the best plan either but she was not showing any signs of being in heat and the kids didn't know not to let them out together due to that fact. Unfortunately, both AKC and UKC states that for a dog to be shown in confirmation classes they must not be fixed. Our cats have all been fixed and when the dogs are done with their show career we have always planned to have them altered if they will not be too old to risk the procedure. Now I haven't shown them since we started having financial difficulty so Casper is probably ready to be neutered.

Of course, that is also a possible income producer if Crystal is pregnant as they are purebred dogs. But she has had three litters in the past and I felt that was plenty. I have never bred them for money but to try to improve our line. But I could sell whatever pups, IF she is pregnant, which would help pay some bills. I just really didn't want the extra pressure of puppies at this time. There is still a chance she isn't.....

Thank you to all who are giving us the warm fuzzies. It really helps, even though I know there are a lot of people in our same situation, to get the extra support from those who care or have been in a similar situation before. And the most important thing for me to remember is that no matter how bad our situation might become there are most likely tons of people in an even worse situation. We are very grateful for what we have and especially grateful for my children.

 

[runwad]

Friskykitten how old are your children?

 

[lck33]

Sorry I don't have any further advice then what has already been stated. My prayers are with you and everyone going through this! My DH was just laid off a couple weeks ago and its been hard. He is getting some work in construction with some of his friends until he finds something. Hopefully before the construction jobs run out. Unemployment certainly doesn't cover the bills.

Most important for us is to stay focused, communicate and work together. We put up a clothesline and have started to hang out our laundry to save on gas and electric, have downgraded our TV package, selling one of our DVC contracts, and saving every penny possible.

Elsie

 

[eyeheartgoofy]

I'm sorry about your job losses. It sounds like you got a real one, two punch. Yikes.

This is what I think you should do:

Cancel all plans for any Disney vacations you have.

On Tuesday morning (unless they are open tomorrow, then call tomorrow), call The Timeshare Store and list those DVC contracts. Explain to the agent that you are DESPERATE and ask him/her to price the contracts to sell ASAP. You cannot concern yourself with how much you paid for those contracts in the past, you can only be concerned with getting rid of them today. Hopefully, after paying off your current DVC loan, there will be money left from the sale to help you get current on your mortgage. At the very least, you will not be facing the monthly DVC payments and the dues bill in January 2010.

I know selling DVC is not what you want to do - I can understand that, but desperate times call for desperate measures. I have 100 points at VWL. If we were facing foreclosure, I would sell that contract in a heartbeat. Even if I only cleared $65 a point, $6500 could surely go a long way towards sheltering and feeding my family. Since you have 5 kids and likely need to stay in a 2 bedroom unit, so I strongly suspect that you have a lot more than 100 points to sell.

 

[Where'sPiglet?]

Something I did think of that I don't recall seeing mentioned....

OP, I'm assuming your kids are under age 18. As school lets out for the summer, look into the free summer meals available to all children under age 18. They serve free breakfast and lunch, usually in parks & recreation facilities and/or at schools. Your local school should have information about locations, times, and maybe even menus.

 

[fkj2]

All I can say is I hope for you the best.

 

[friskykitten]

Friskykitten how old are your children?

17, 14, 12, 10 & 1. All angels most of the time... And no I will not even consider selling them at this time.

My DH was just laid off a couple weeks ago and its been hard. He is getting some work in construction with some of his friends until he finds something. Hopefully before the construction jobs run out. Unemployment certainly doesn't cover the bills.

I am so sorry. I will send some pixie dust and prayers your way too. If we are praying for each other we will certainly be heard, right? I know one of the last things I want to do is sell our DVC but I will if I need to. Can't vacation if you don't have the money to do so. If I can get away with keeping one of the ones that is paid off I will.... Just one moderately paying job started in the next couple of weeks shoud do.... If I sell the other contracts it will certainly ease some of the monthly expenses like the others have mentioned.

On Tuesday morning

Hee, Hee. I keep saying that come Monday I am going to do this and that and this and that......Forgot it was a holiday. Glad you are on the ball cause I sure wasn't.

OP, I'm assuming your kids are under age 18. As school lets out for the summer, look into the free summer meals available to all children under age 18. They serve free breakfast and lunch, usually in parks & recreation facilities and/or at schools. Your local school should have information about locations, times, and maybe even menus.

This is a genius idea. I remember hearing something about it on the news the other day and since we were laid off they have qualified and are using the free lunch program at school. Thank you for reminding me of this. I need to start making a list of these suggestions so I can go right down the line and not miss anything.

 

[mrsbornkuntry]

I found this website that has a tool to help you determine if you are eligible for nutritional assistance in your state. This does not count your residence or 401K as an asset so it may be worth checking out for you.

http://www.snap-step1.usda.gov/fns/index_en.jsp

 

[Princess April]

ohh ohh, another thing I forgot to mention before was to get REALLY creative with food. You can get some really good deals at the store (if you just know where to look). For instance: I went to Publix today and they have Wheat Thins on sale BOGO.... a few weeks ago there was a coupon in the paper for Wheat Thins Artisan BOGO, viola 2 boxes of Wheat Thins for $0.00. Also, A1 Steak Sauce... BOGO $4.19 and I had (2) $2.00 off coupons. 2 bottles of A1 for $.19, not too shabby! And before anyone flames me .... it is okay to use 2 coupons for BOGO items, I happen to work at Publix and I know that it is acceptable. (I train the cashiers). I also do "CVS" I haven't "paid" for toothpaste, mouthwash, razors etc. for over a year. It does take a little work but the rewards are AWESOME!!!! Check out hot coupon world dot com for more information. Have you checked out Angel Food ministries? I have used them in the past. There have been mixed reviews on it, but like I said before: Any port in a storm. Another interesting web site to check out is hillbilly housewife dot com. They literally have a $45.00 emergency menu and lot's of other frugal ideas. Check it out!

 

[brytorlyn]

Can your 17 year old (possibly 14 year old) find summer jobs ? Even if it is only to help out with their own expenses....(babysitting for parents who have school aged kids out for the summer?)

My DD (18 now) had a part time job at 16...she was a life guard. And at 17 she started working in a restaurant (she is heading to culinary school). Now at 18 she is earning $200+ a week and expects more in the summer. ( I wasn't thrilled at her working so much during the school year but she has a light school schedule this semester and as I said she is actually heading to culinary school so this is her future.)

She was telling me about a friend whose family is going through hard times and that if we ever needed it she would give her salary to help her family. But even if helps cover some clothing costs or help with pets...

 

[Lucky4me]

I don't get it. You'd rather file bankruptcy and lose your dvc to that, than sell it to help get you out of debt?
I'm so confused by that.
If you have 3 contracts, you must have a sizable number of points. At $65 a point that could carve a huge chunk out of the cc debt. You wouldn't have that yearly dues bill either. Cutting coupons and getting free lunch is all good and fine, but we're talking thousands of dollars here in one fell swoop!
If this was me, dvc would be gone, pronto. Then I'd buy a Dave Ramsey book and follow what he says religiously until all the debt was gone.
Disney will always be there. dvc will always be there. Well, at least for 40 some odd years until it's not.
I'm so sorry you are having these problems, but know that if you take the right steps, they are only temporary problems.

 

[smiles&grins]

I know where you're coming from. My DH got laid off in Nov.'08. Unemployment only goes so far. I'm not sure looking for a cheaper place to rent would work unless you could rent your house out for the price of your mortgage payment. OR that would mean you're just going to walk away from your house. We've tried very hard to not lose everything we've worked for and I can see how you don't want to let everything go. I'd try to sell your one DVC for now and see what it can bring in or just relieve one bill for now. Do you have the budget plan for you utilities out there? Can you get set up on a payment plan with any utilities? Have you tried talking to any CC? Are they willing to lower your payments or interest for now? Can you do debit consolidation with your CC's?? Can you lower your cell phone packages? Or if you have cell phones lose your home phone line? Do you budget for your food cost?? There are lots of coupon sites online and receipes. I've made lots of new things from the stuff in the back of my cabinets!! We've had to cut out alot and I mean alot but we are still here and keep hoping things will turn around soon.

Do you have any contacts from your old job you could get in touch with? Have you talked to a temp agency?? Summer time is coming up maybe some parents in your area will be looking for daycare now that school is out? You show your dogs, can you train other people to do that for a fee?? Or do dog grooming for shows?

Good luck and just keep trying. My best advice is to spilt your bills up by week or bi-weekly and then you can see what you need to go where. Sometimes my $80 electric bill only gets $40 and then next month I pay more. I only look at this month right now and know when DH goes back to work we can still live on this budget and knock out those CC in no time.

 

[JB2K]

You can place ads on Craig's List for free!

Not to stray off the subject, but I would be extremely cautious in recommending Craigslist, these days, given the fact that Attorneys General in several states are looking at taking legal action against CL for running the equivalent of an online brothel.

I know it's free, but IMO, it's something I don't completely trust, either...

Otherwise, my 2 cents' worth to the OP is to sell those DVC contracts (you already live in FL -- DVC is a major luxury, at this point!) and start cutting corners where necessary with little things like cell phones/CATV/home phone/ISP.

And yes, you will have to say "no" a few times when your kids ask for things...IMO, it sure beats being homeless!

 

[DVCBELLE]

I would sell my DVC contracts without blinking and eye. This to me is a no-brainer. When you are back on your feet then consider buying again but you have to have at least 200 points - which would sell for at least 10,000-12,000. That would solve a lot right now and then you don't have dues either.

 

[CLR4321]

I am really sorry to hear about your situation. What a scary place to be in, especially with 5 kids! My only advice is to think long and hard if you will possibly be able to pay your bills. If you honestly do not believe that you can pay your bills, you may want to consider bankruptcy. If you know you will not be able to pay them, better to accept the fact and file now than to struggle for awhile, then ultimately come out with the same outcome months down the road.
If you think you will make it, I suggest selling anything that you do not need, especially the DVC contracts. If you have a 2nd vehicle that is owned outright, sell it. Sell any household things that you do not use. Eliminate unnecessary expenses such as cable, DSL or cable internet (switch to dial-up if having it with a land line with save you money) going to the salon, trips, going out to eat, going to the movies, renting or buying movies or video games, and buying anything that you can live without.
Your main concerns should be (in no particular order):
Having a roof over your head
Having one vehicle
Having at least one telephone (have a cell before you have a house phone)
Having enough food to eat
Paying for any medical requirements (medicine, etc)
Buying gas (enough to get you to the places you "need" to go)
Having water in your house (pay water before you pay power)
Having power in your house

Is renting your house out and downsizing to a smaller house an option? I know you say "no one will rent to someone with 5 kids....", but there ARE people who will, especially in the current economy where people are moving into smaller homes to save money. My suggestion is to look at property managements over individual owners, unless the owners can prove the house is owned outright. Some owners are taking money for rent and keeping it, then renters end up being evicted due to foreclosure. You may even be eligible for subsidized housing, look into it.
I know it may sound crazy, but do you know of anyone who you and your family could stay with until you can find a place you are able to afford?
Take any help you can. Don't be afraid to get help from places like food banks, clothing giveaways, welfare (for anything you are eligible for), WIC, school programs for your kids, etc. Make your motto be "If I am eligible and I NEED it, take it".
I know this is a hard thing to do, to accept that your financial situation is what it is. You will need to be realistic though, and it does sound like you know this.
You will be in my prayers.

 

[Justsyd2]

I'm sorry that things aren't looking so good for you right now, but you can turn things around....just remember that!

Have you thought about looking into public housing if your house is foreclosed? You should certainly seek all of the public assistance that you can at this time -- and as much as you hate to do it, sell the DVC's in order to get back on your feet. You need to get as much cash as you can right now.

My best to you, hang in there.

 

[Planogirl]

I wouldn't get rid of Internet but I would find a cheap dial up package. You can sell things through the Internet plus some jobs only hire through the 'Net. My last two jobs in fact only advertised and then accepted applications throught the Internet.

I can't imagine how difficult it would be to use the library computer when you have five kids and most libraries limit your time anyway. I would hit website after website and search and search. Go to Monster and some of the other job websites.

I hope for the best for you.

 

[DisneyMomOK]

:::

 

[Shelli_5]

I am so sorry that you are faced with this awful situation. I agree with the advice that others have given you. I know it's hard, but everything that is not a necessity really needs to go: your DVC contracts, cable, cell phones, internet, etc. Just remember that it's not forever. You've got to do whatever it takes to get through this rough patch. I also think it's a good idea for your oldest child to get a summer job to help out with expenses. I had to do this in high school and it didn't kill me. I will keep you and your family in my prayers. I hope that you are back on your feet quickly.