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Topic : Debt

Number of Replies: 754
New Messages This Week: 0
Last Reply On:
Created on : Thursday, July 07, 2005, 09:21:14 am
Author : dataimport
Are you struggling with debt? Have you successfully managed your debt? Share tips and strategies with others.

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August 12, 2008, 10:20 am CDT

foreclosure problems

I'm a  single mother of three that signed a mortgage I know I cant afford. At the time I was married and was told by the broker since my creidt was better than my husband to put it in my name I told him I didn' t make enough money my husband make three times my income but with bad credit. He told us not to worry he will do the paperwork and for me to sign and we will have our dream home. He didn't tell me in two years the mortgage will increase he just said in two year redo the mortgage and put it in my husband name. My husband left us a year later and I'm stuck with a mortgage I can't afford. I have to be away from my kids long hours to try provide a home and food for them. They try and understand but I feel like a bad mother for putting them in this situtation. I only want them to have a nice house we don't really have furniture just the house. The way the market is it's hard to get rid of with out a loss. School started this week and I didn't pay my mortgage because the girls needed clothes and shoes. I don't know what is going to come of us, don't know if I can do anything about the broker got me in this mess since I signed the papers
 
August 13, 2008, 2:44 pm CDT

MERRELL - ACT NOW - DON'T WAIT

Quote From: merrell

I'm a  single mother of three that signed a mortgage I know I cant afford. At the time I was married and was told by the broker since my creidt was better than my husband to put it in my name I told him I didn' t make enough money my husband make three times my income but with bad credit. He told us not to worry he will do the paperwork and for me to sign and we will have our dream home. He didn't tell me in two years the mortgage will increase he just said in two year redo the mortgage and put it in my husband name. My husband left us a year later and I'm stuck with a mortgage I can't afford. I have to be away from my kids long hours to try provide a home and food for them. They try and understand but I feel like a bad mother for putting them in this situtation. I only want them to have a nice house we don't really have furniture just the house. The way the market is it's hard to get rid of with out a loss. School started this week and I didn't pay my mortgage because the girls needed clothes and shoes. I don't know what is going to come of us, don't know if I can do anything about the broker got me in this mess since I signed the papers

Yes, you should report the Broker who had YOU sign the Mortgage papers......he should have respected your concerns. Report him to the Attorney General in the State of Florida. Did you know that Florida is the number 1 State in Mortgage Fraud??

 

IF you have not yet contacted your Mortgage Company......try to get your missed payment current......either way.......contact them immediately and tell them you need help with your payments. They may be able to restructure your loan. The Federal Government has stated that these Mortgage Companies should be helping people keep their homes rather than foreclosing on them. It sounds like you have an ARM (adjustable rate mortgage) which has incremented up causing your payments to increase. Talk to your Mortgage Company about re-financing into a fixed rate mortgage. If you still have good credit.....the interest rate should be about 6.25% to 6.5% at this point in time for a 30 year mortgage. The further behind you get, the less cooperative the Mortgage Company will be.

 

If your former husband was the father of your 3 children, you need to be collecting child support from him. DO NOT let him get away without paying.......your children deserve to be supported. GOOD LUCK!!!

 
August 15, 2008, 4:40 pm CDT

finaces and losing our residence

 ok i am upset because it seems that when something good happens something bad happens i am trying to generate income with a at home busines and it seems like it is about to all be taken away before it gets off the ground i am tired of people saying i will pray for you or saying GOD bless you people need to just help  with out questions asked also i am diabetic and can barely get around so i try and atay at home and work please help i am to the point i just want to give up because of people always putting this and other familys down just help don't judge it could happen to anyone not just this family we need financial help and no one is willing so just help no questions asked. this family has been trough enough already they don't need any more bad things to deal with thanks for your concern.
                                                                                                                      david love
 
September 6, 2008, 7:24 am CDT

HELP, searching for a Dr. Phil sponsor (studentloan)

At least a  year ago if not more I saw a show where one of the sponsors donated college money to a guest. It was a website where you can apply for student loans. I worked with them last year and they were great, but my school at the time didn't certify loans so I couldn't get one. I am at a new school now and NEED a student loan to make things work but can't for the life of me remember the name of the website. I really want to work with them again, and haven't seen their name listed on recent shows. Does anyone know or remember the website?? I know this is a long shot, but I am desperate.
Thanks in advance for any help!

 
September 10, 2008, 3:04 pm CDT

Debt

Yes I am in cc debt too. I needed them to pay for my gas.  Now my credit is poor and I am only working part time. Trying to find full time but people will not hire me because of my poor credit.  I don't know who to go to for help.
 
September 15, 2008, 3:45 pm CDT

Your show didn't cover my problem

My husband who was the sole provider could no longer work due to back trouble in June '07. I work parttime for $300 a week. With almost 200 resumes between the both of us out there nothing is availible how do we survive our foreclouser and credit card debt?

 
September 15, 2008, 4:02 pm CDT

There is real help out there

Quote From: shel7296

Yes I am in cc debt too. I needed them to pay for my gas.  Now my credit is poor and I am only working part time. Trying to find full time but people will not hire me because of my poor credit.  I don't know who to go to for help.

I know there are a lot of family's in credit trouble But if you do your research you can find reputable company's that truly help. I found this company craighelps.com that first successfully settled my debt. We are now taking all the negative items off my credit report. I just got back my most recent reports and they deleted 12 items off equifax and experian and 10 were deleted off transunion and thats the first try, I couldn't be more happy 

Good luck

 
September 15, 2008, 5:04 pm CDT

I lived off my credit cards

I have been laid off since October. I have been looking for work to no prevail. I am either under or over qualified. I have my BA in Social Work, and Health Science and Policy, and an AA in Mental Health and Human Service. I have been working on a teaching credential through Cal Poly. My problem is that I have been living off my credit cards for the past months. I have drained my savings account. It is horrible. How do I get back on my feet. I need help
 
September 16, 2008, 5:27 am CDT

The Stuggling can be overwhelming

The Struggling can be overwhelming

I just watched the show about Money Crisis, dated September 15th.  I felt compelled to write to Dr. Phil for the first time. 

 

I know I am not alone in the battle of trying to survive in the American crisis today.  I am a single Mom living in a small town in NW Ga, the carpet capital of the nation.  The economy here is in severe crisis. If I really sit and think about how bad it is, it scares me to death.

 

I hear Dr. Phil say we have to live up to the reality of why we are in a personal financial problem.  I sat and thought about that.  What I felt wasn't mentioned was there are some conditions that happen which can lead someone down this road that are way out of our control.

 

The last year my happy and secure world has turned upside down.  I have worked two jobs for the last 5 years. I was a sales and marketing specialist at a large carpet manufacturer and also have my own business I have done at night for 19 years.  We were financially stable, but yes, I did have debt.

 

Last year, I was keeping my grandchilden and my son and I took them out to breakfast and to go to Walmart.  We were gone a few hours when I recieved a call from my oldest son to stop what I was doing and meet him in town immediately.  We rushed to meet him and he got out of his truck with tears on his cheeks. He held me and said, "Mom, you have lost everything."  Of couse denial was my first reaction.  He put me in his truck and drove me to my home.  Firetrucks were everywhere, people I didn't know in my yard and my state of shock was unbelieveable. 

 

My shop was built beside my home, it was a catering business and bakery.  The shop had caught fire, burnt to the ground, then spread to our vehicles and one exploded and threw the fire onto the house.  I sat with my two sons, my daughter in law and two grandchildren on a crosstie in the flower bed and just watched.  At that point, the overwhelming urge to cry was far outweighted by thanking God  that the most important things in my life were sitting beside me.  What was lost was material possessions, all my material possessions.  I also lost my second income, we depended upon.

 

My insurance was wonderful, to rebuild the house and to get another vehicle, but would not pay for the shop.  We rebuilt and I got back into our home 5 months later.  During this time I lived with my son and worked steady at my other job.  The loss of the one income was certainly noticed, but I was handling things and keeping things current.

 

Then we broke for the Christmas break  at work and I  went back to work on January 3rd.  We were all summoned into a meeting and told the company filed bankruptcy over the holidays and we could go home.  In six months time I went from making $70,000.00 a year to $269.00 a week unemployment. After pounding the pavement constantly and being turned away for job interviews due to the economy and no hiring policy, I decided to reopen my shop downtown. 

 

I devised a plan, to take the last of my savings and open a small scale of my shop downtown.  Knowing we could not survive on the shop income starting out, due to having to purchase so many things for it, I pounded the streets continuously and found two more jobs I could do at night and on weekends.  I became a restaurant manager part time and became the Conventon Center Catering Manager.  For the last six months I have worked 7 days a week, sometimes 15 hours a day. 

 

I called my creditors.  Most were very helpful and worked with me to lower the interest in a plan to pay off my credit cards in a one, two or three year payment.  Three would not work with me at all.  I set up automatic payments, which I controlled through Bill Pay online to all of them weekly, even the ones that would not accept a payment plan.  Those three turned it over to a collection agency, all with balances of around $1000, to $2000.00.  They pile on late fees and demand hundreds of dollars to bring them current, even though I don't have it.  I am doing all I can.  I receive at least 20 calls a day on the home phone plus they call my cell phone 20 times a day.  They won't take no for an answer.  One creditor even suggested I hit the street corners to pay this debt. I have my house payment and car payment current.

 

The debt I am paying on was all lost in the fire.  I threw away my credit card years ago, most of that income was generated on the debts before my divorce. I agreed in the divorce to take all our debt, in order for him to sign.  A stupid thing on my part but I wanted a quick divorce for the boys sake without a lot of turmoil and this was the best avenue. 

 

Things are getting harder and harder, with gas and groceries prices soaring. I have struggled to keep my son in college, but much to my regret, I have pulled him out for financial reasons this upcoming fall quarter.  But we are surviving and the schedules on my debts are slowly coming down, so there is a light at the end of the tunnel, it is just a few years away with a  gradual decrease starting soon. We cut out all eating out,  spending money on clothes and extras. We cut our TV  to a basic package, turned our air up at home and drive as little as possible.  I had the cars paid for before the fire, but now have two car payments

to pay. 

 

The calls, the stress and the pressure each week can be overwhelming at times.  But I am one determined little lady and I will over come this.  But please realize sometimes situations are out of our control for the problems surrounding us.  I thank God I have three jobs to keep us up, I feel fortunate.  I know many that have nothing or have lost everything.  But I belive, if there is a will, there is a way to overcome.  It may be a long and bumpy road, but this gal will get back to the top of the mountain again.

 
September 17, 2008, 8:17 am CDT

HELP

My husband and I are at each others throats constantly now and I sit with a budgeting book night after night, writing numbers over numbers and trying to dig us out.  My husband is a police officer who suffered at heart attack a year ago at the age of 27.  March 27th he spent 12 days in the hospital after suffering a heart attack at the jail as an officer.  The didn't know what was wrong with him because the bottom part of his heart just does NOT work.  We almost lost him twice once when the BP dropped to 40 after his stent placement and the other after his BP dropped to 44 when his PACE MAKER was put in.  His self-esteem diminished.  My daughter at the age of 4 starting having extremely bad migraines and by the age of 5 they were up to three and four times a week.  My husband attended the police academy on May 19th, 2008 and was sent home after week 3 due to failing a test.  Two days later he was rushed by ambulance again from our local hosptial to the main hosptial back in the heart institute.  He was once again fighting for his life.  His Cardiologist had adjusted his pace maker when they were not supposed to for a year.  St. Jude installed and programmed his pace maker and they were the only ones allowed to make adjustments, so with the Cardio messing with it my husbands pacemaker got stuck on 140 bpm for 3 weeks straight at the police academy.  He went back and graduated after they added two more medications to his already 5 a day.  More money.  By now we owe about 40,000 in medical bills, behind on every bill we could ever owe, daycare is behind 1100 dollars with threats of the kids being kicked out of a "church daycare," when they were aware of what we went through.  My daughter's head aches are increasing and emergency CT scans, and emergency MRI's are ordered for her brain.  More money.  My student loan repayment just started b/c my 6 month grace period is up and I can barely put food on the table.  Everything is spinning out of control.  The house we just bought in Dec. 2007 is already 2 payments behind.  My husband got into a wreck at work in the police car and they are cutting his check short by like 200 a week to pay for the deductibles, when the wreck could not be avoided due to trees being in the way of seeing to pull out.  My son has just been told at his 4 year well child check up that he has a hernia.  He has also had 9 ear infections since January and this Friday September 19th we are going back to the ENT to schedule his surgery for tubes, tonsils and adenoids, more dang $$$$$.  I am in process around all of this fighting to keep my home.  I am pre-foreclosure.  WE make about 4000 dollars a month and we don't have a lot of bills that we cannot afford, house is only 978, car is only 450 and almost paid off.  We have a bad run of bad luck and Dr. Phil I know mommas are strong and we carry the family across the fire, but I am broken down and wilted at only 28.  I have been through more in the past 3 years than I can possibly handle.  I almost lost my husband a year ago, then again this year, my daughter is sick, my son is not well, my bills are consuming my life, the phone rings with owing someone something everyday.  I sit down on payday and decide who to pay and who not to pay.  I argue with my husband because he lives in the world that what is in the bank account is free money to spend.  He doesn't help me pay bills, call about bills, take bills, even look at bills.  He doesn't know who we owe, when we owe or what we owe.  His medical folder has over 60,000 dollars worth of bils that he refuses to look at.  My daughter owes at age 6 over 10,000, my sons ear infections and upcoming surgery is going to run me about 4,000.  The hospitals will not write a thing off even though in the past 1 1/2 they have gotten over 300,000 dollars out of my husband insurance for his coronary heart condition.  I don't know who to turn to or what do at this point.  Please help, I am desparate.  A mother can only handle so much, I love God, but I to wonder why my plate is consumed with money issues.  I love my husband more than the air I breath and we do not believe walking away is an option, but we cannot continue like this, it isn't his fault he was born with a bad heart, and it isn't mine to clean up, please please with every ounce of emotion in my body please help, at least guide us, we will do anything.

 
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