I think I’m gonna squeak by this week. I’m going to the post office right now to get the $1480 money order for my next DMP (debt management plan) payment. I have three $1480 payments to make this summer, then it will drop down to around 1K a month.
Any more money coming in this month needs to go to:
Car Payments – I’m way behind with toyota, and if I lose my car, I’ll be up a creek
Comcast – If my internet gets shut down at the office I’ll be screwed
Business Debts
My other big issue at the moment is the two larger (20K and 30K) business loans I have with WellsFargo and WAMU. Both are very behind (but not quite to collections behind) at the moment.
I have been looking at business debt programs. Specifically
http://www.commercialdebtcounseling.com
I have been meaning to call these guys. If they could really settle the 50K in business debt for 20 or 30, it might be worth trying. I could come up with 30K somehow, right?
If they could settle the debt for 25K maybe I could get a prosper loan or another form to cover that settlement.
Other Issues
IRS – Still need to come up with 1K to pay off this bill by mid-June
House Short Sale – Still no approval from the investor to short sell the house at 410K. Foreclosure auction set for mid-August. Hoping to avoid this.
Mail – I’ve gotten some pretty funny (and creative) letters from people offering to buy my house for “a fair market value!” and other such nonsense. It’s amazing what lengths people will go to to take advantage of someone losing their home…
{ 9 comments… read them below or add one }
Ehhh – I missed the car payment bit before – I can only wish you luck though.
Well, if things work out and you end up getting a Prosper loan, let me know and I’ll see if I can work out a contribution. It may not be a whole lot at the moment, but every bit could help!
Sell your car! Why are you making payments on it when you can’t afford them! You need to sell your car and buy a cheap, reliable, older used car that you can pay for with cash. You might be able to make that IRS payment with it! Time to get serious here buddy, you have really nothing and everything to lose, and a lot to gain! Again, SELL THE STUPID CAR!!!
I agree with Tyler. Heck, sell the car and get a bike with a storage rack. The gym is close enough to bike to right? And a grocery store?
I lived without a car for 2 years. Loved it
I think he’s mentioned before that he’s upside down in the car or its a lease or something purchased through the business and he’s not in a position to sell it. That’s what I recommended, though. Get a an old beater or a Scooter or something…
Yes, I am way upside down on the car (I bought it new two years ago and drive about 20K miles a year…). I can’t sell the car.
Dumb! You can’t afford the payments. Sell the car, get something cheap with the cash, and finance the small balance you are upside down with with a credit union. If you can’t do that, try Prosper.com. It’s stupid to be in this much debt and have a car you can’t afford. You won’t get out of this mess if you don’t make drastic changes.
No, not dumb. I am upside down around 8K. Finance with a credit union? With a fico under 500? Hmmm…me thinks that ain’t gonna happen.
And I will get out of this mess. I’ve already made major drastic changes and continue to do so, thank you.
I’m not disputing your other drastic changes, but the car is a bad situation. You know what you’re essentially doing right? Not only are you in the hole 8k on it, but your (I’m assuming) $2-300 mo/pmt is going nowhere but in the garbage to keep a car that you say you have to have. If you sold the car, you’d only have 8k to worry about, and no monthly payment on a different paid-for car. Your problem right now is cash flow and you don’t have it. That is why I said get rid of the car. At least you would only have 8k to worry about, and then when you are done with those payments, you’re car is free and clear. Just a quicker way to be free on it as opposed to keeping the car you have now and making payments much longer.