I'm Humbled and need Help!

[4forMe]

I would also suggest applying for Social Security Disability. It sounds as if you have a work history and there is a very good chance you would receive some disability assistance.

Keeping you and your family in my prayers.

 

[Fritochips4u]

Personally, I would rather skip paying the credit cards and let your credit tank than file bankruptcy.

Why would you do that? Bankruptcy is a legal protection from your creditors. If you default on your bills and DON'T file for bankruptcy, your creditors have a legal right to get their money....this could mean freezing your bank accounts, wage garnishments. Why would you not get the protection from your creditors?

Contrary to what many people think, credit counseling and bankruptcy BOTH ruin your credit. The only difference is with credit counseling, you normally get your debt paid down within 3-5 years. With Bankruptcy, your debt is gone.

I would visit bkforum.com. They have a lot of good information about bankruptcy.

It's a hard decision to make...take it from someone who knows. This too shall pass.

Good luck to you!

 

[gretchenohar@hotmail]

I won't presume to give you any advice, but I will tell you that you are in my prayers. God bless you and your family.

 

[dclfun]

I would try and contact your mortgage company and ask for a "forebearance agreement" which would stop your payments or make them very minimal for up to a year. They normally offer such an agreement if you can't pay your mortgage due to unexpected circumstances that are beyond your control and if you're expected to be able to resume payments when those circumstances change. We went through one before and it didn't hurt our credit.

You know what makes me the most upset? If the OP was a child, she'd not have medical bills. An adult loses income because they can't work and there is no help. Children can go to St. Jude, get state-run insurance that covers treatment 100%, then there are the Wish trips to send the family on vacation. Here we have an adult who deserves a trip just as much as a child, has gone through just as much..and who is stressed by medical bills that a child would never realize, affecting her ability to heal. What's wrong with this picture? When will people have compassion and when will our government protect and honor/respect adults the same as children including covering the costs of treatment? Okay, off my soapbox.---Kathy

 

[scrapquitler]

I'm sorry that I don't have any good advice for you, but I hope that you are able to get some help somewhere. My thoughts and prayers are with you and your family.

 

[dyna]

OP how about a home equity loan or 2nd mortage on house to pay credit card bills with?

MY youngest DD was very ill for 2 yrs we had many many medical bills that DH put on plastic just to keep the drs an hospitals from turning us in to the credit beaura. We have struggled every since but did pay off our house on time too. It felt so good not to have a house payment. BUTTTTTTTTT

Just last month DH could not get the loan he needed at an interest rate he wanted to pay the loan was for a heat pump that went out in dead of winter. To much of our money was goin out in the credit card payments.

We ended up taking out a home equity loan at like 5% interest with the insurance that if either of us should die the loan is paid for. We got the heat pump and paid off all our credit cards. This was a very good option for us for several reasons 1 If one of us dies we taken care of an the loan is paid off. 2. The payments are low enough that most of the time DH will be able to make double payments. 3. This is going to allow DH to be able to retire in 2 to 3 yrs prolly sooner if the need should arise. 4. We are also going to be able to save money that we was not able to save because of the bills along with making double payments on the home equity loan. 5. the tax excemption for having a mortage on house. 5 the tax break on income taxes for having a mortage.

HUGS to you an yours I do know what it is like when 1 family member is ill an all the money goes for bills an you sinking an can not get a break!

 

[JoiseyMom]

OP how about a home equity loan or 2nd mortage on house to pay credit card bills with?

This really isn't a good idea. Your credit cards debts are considered unsecured loans. Your home is a secured loan. In your case it worked out..in most cases it doesnt and the person can lose their home!!

OP do not do this!!!

Talk to your cc holders...or see if you can get a transfer card with a low inerest rate...or just stop paying. If talking to the companies doesn't help then just say..ok..I will just stop paying..that isn't going to help them..but ti will you. You have to do what is best for your family. All the "experts" have said to pay your cc last!! Your home, health insurance, food and utilities comes first!!!

Good luck!!

 

[JB2K]

She's taken 2 vacations in the past two years - this is not a case of someone who "needs" a vacation. Vacations are a luxury, not a right, and she has taken at least one trip to Disney since the cancer diagnosis, so don't think I am being heartless. I am merely suggesting she do the responsible thing now and not live in a dreamworld.

Ditto.

Not to be callous, but come what may, no matter what, WDW will always be there (just as it has been since 1971).

Take care of business and family, first -- Disney vacations can wait.

 

[JB2K]

Being ill is extremely taxing on the mind and the body.

And a trip to Disney isn't?? Anyone remember the hot sun, long lines, sore feet, and complianing family members???

I know that WDW is far more than 4 theme parks, but for many, that can sum-up their experiences, there.

I went back and reread this thread and came to a couple of conclusions...

• This is not the place to ask for serious financial advice (like the dentist/electrician statement, a few posts back) -- pardon me if I rub some of you the wrong way, but many people here are so "DIS-Drunk", they would go even if it wiped-out the last of their savings. Dont believe me? There was a post by someone a few days ago who happened to lose their job, but by golly, that person was still Disney-bound!
  
• This is the reality of the financial meltdown -- some people will risk it all to have that latest toy or take the most elaborate trip. It makes me think of the post on this thread where someone was suggesting to take-out a 2nd mortgage to pay-off the credit cards knowing that the OPs household is making about half the money they used to -- and if they live in a high cost of living area like NY/NJ, making under $50K a year pretty much puts them on the poverty line. That suggestion was the equivalent of suggesting financial suicide.

 

[foszilfineder]

Ditto.

Not to be callous, but come what may, no matter what, WDW will always be there (just as it has been since 1971).

Take care of business and family, first -- Disney vacations can wait.

I agree. Even "free" vacations cost something. And, for those that think that people NEED or DESERVE a vacation, and a vacation to WDW at that have a lesson to learn about wants and needs.

Not paying bills, and using the "cancer card" to justify is a cop-out. It took us years to pay off the $150,000 that was beyond insurance for the baby. And then we leaped into the cancer surgery and treatment. Applying for bankruptcy is for those without the character to clean up their own messes.

 

[Suz D]

Not paying bills, and using the "cancer card" to justify is a cop-out. It took us years to pay off the $150,000 that was beyond insurance for the baby. And then we leaped into the cancer surgery and treatment. Applying for bankruptcy is for those without the character to clean up their own messes.

Wow.

 

[Leajess99]

I won't bore you with too many details, but I am financially in a place I never thought I would be. I have been battling cancer since 2007, and we have gone through every penny we ever saved. Now I have credit cards that I can't pay. I don't know what to do. I have good credit, but can't get a debt consolidation loan becasue of our debt to income ration. Please keep in mind that before I got sick I made over 65,000 a year, and we were not living beyound our means. My husband makes about 45,000 a year, but loosing my income was significant! Since then we have been living on credit, and now we can not even do that. I am considering trying to settle some of my credit cards just to get out from underneath them. I realize this is going to destroy my credit, but I think it would be better than bankruptcy. Anyone been in a situation similar or have any true advice to help our situation?

Check and see if any of your cards or loans have the disability/job loss insurance on them as this could be helpful. If not than contact your creditors and let them know the situation.

 

[dclfun]

I agree. Even "free" vacations cost something. And, for those that think that people NEED or DESERVE a vacation, and a vacation to WDW at that have a lesson to learn about wants and needs.

Not paying bills, and using the "cancer card" to justify is a cop-out. It took us years to pay off the $150,000 that was beyond insurance for the baby. And then we leaped into the cancer surgery and treatment. Applying for bankruptcy is for those without the character to clean up their own messes.

Any reason to post such an ugly message to the OP? As to needing or deserving a vacation, I suppose it's okay for children then, who are funded through the entitlement program known as Make-a Wish, and all the other wish organizations for children only. So what if an adult who has undergone cancer treatment feels they need to take some time to make a memory with their family? Everyone has the right to decide for themselves what to do with their money. Advice was requested, not hostility. And bankruptcy can be the only viable choice for someone who, like the OP, made a good salary which she lost through no fault of her own and who has depleted her savings.---Kathy

 

[aka-mad4themouse]

This thread has turned just plain mean and nasty. Time to close it and refocus our energy on something more positive.

My best wished to the OP in her fight against cancer.