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Regular Contributor
mgs2010
Posts: 185
Registered: ‎07-26-2009
0

Re: Need Help ~ Keep House, but???

Just my opinion...bk7 would not be all that bad of an idea. I'm sure her fico scores are already trashed and her debt to income is through the roof. bk7 doesn't even seem to be that bad of an option...I think the government and credit card companies etc just want you to believe it is the worst thing you can do to yourself when in all actuality, it isn't...I know MANY people who have filed BK and rebuilt their scores up higher than they were before filing within 2 years...You can still buy a home, a car, get credit cards, etc. Sure it may cost a little more, but if you buy a home with FHA you still get the best rates (bk or no bk)....thats just my 2 cents.

Regular Contributor
JackBeNimble
Posts: 175
Registered: ‎04-02-2010
0

Re: Need Help ~ Keep House, but???

Some crazy thoughts.

 

- Take in a renter

 

- Sell one of the cars, buy a bicycle or scooter

 

- Rent out the house, move into an apartment

 

- Get a home equity loan (that seems the obvious solution, I didn't see it discussed, I must have missed something)

 

- Find something to make and sell, like pies or firewood

 

- Get part-time jobs

 

- Write a blog, detailing the pain they're going through, make money on the advertising

 

- Redistribute the money available for debt payment to pay the highest interest debt exclusively, letting the others fall behind.

 

- Son and other kids may need to look at p/t jobs also.

 

BK may be on the table at this point.

 

 

Hope things get better for them.

 

 

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04/2010 EQ 656 TU 648
05/2010 EQ 669 TU 664
06/2010 EQ 674 TU 678
07/2010 EQ 666 TU 667
Senior Contributor
fishbjc
Posts: 3,439
Registered: ‎11-30-2007
0

Re: Need Help ~ Keep House, but???

Her house is wayyy too small for a renter as it's only 2 br.  She needs a car because she has to do errands for her gentleman.  Her son does work p/t.

 

Here's a crazy idea....she loves to g/s and is quite good at it.  We're going to work on an etsy store for her to sell some vintage items.  Since she has Thursdays off, it will be perfect.

 

I think bk7 is the best option for her...the stress will be off.  We're waiting to hear from one drug mfg. to see if they will help with the pres. costs...we'll see.

 

They do plant a garden each year and I've suggested she look around for a couple of cleaning clients...even one per week or doing evening child care.  Her area is pretty depressed, so we will see.

Senior Contributor
fishbjc
Posts: 3,439
Registered: ‎11-30-2007
0

Re: Need Help ~ Keep House, but???

Their eldest son is married with FOUR KIDS and he's not even 30!!!  No, he's on a very tight budget.  The twit didn't even finish school, but has a decent job.  I think they owe about $5,000 still on the s/l.  They're working on a new plan since it's private.

 

They did apply for a home equity, but their area is depressed and they were denied.  Now, they have the youngest getting ready to graduate....and they cannot help him.  He'll just have to go to community.  Hopefully, the economy will turn around.

 

Dave is very handy with a tool belt....we're checking craigslist...etc for jobs.  He's also a fabulous painter.  Trying it all here.  Thanks for everyone's suggestions.

Frequent Contributor
Mank
Posts: 414
Registered: ‎11-30-2008
0

Re: Need Help ~ Keep House, but???

[ Edited ]

Make the twit start paying his college loan off!

 

And DEFINITELY have them speak with their doctor about getting samples of the non-generic drugs. See if signing up for a program at a pharmacy could reduce their generic prescription cost as well.

 

Craigslist is a great idea for extra work, as is Etsy, but I definitely don't think there should be any shame in asking her church for support, even if it's just things like groceries and what not. There might even be other doctors through her church that could help her with drug samples if her own doctor doesn't have any.

Contributor
woozy
Posts: 99
Registered: ‎02-12-2010
0

Re: Need Help ~ Keep House, but???

It's a shame to Bk for so little money, but if the lady is "hysterical" that's what they need to do.

Valued Contributor
Schoolbuskid
Posts: 1,926
Registered: ‎10-23-2007
0

Re: Need Help ~ Keep House, but???

The main thing they need to think about is keeping the home, thats priority and should come first. Anything outside of the home can be considered for default. I would only pay the accounts that are most important to me. I know she doesnt want to damage her credit reports any more but she has to determine whats best for their situation right now. She has to do what she has to do to stay in that home. Credit Cards can be replaced alot easier than a home. When you think about it she not really in that much debt, so she can definitely work this out.

 

Does she not have a mom and dad, brothers and sister, aunts/uncles that might be able to help her? I'm wishing you guys the best. To be honest we really dont know until we're in that situation. God Bless!

Regular Contributor
JackBeNimble
Posts: 175
Registered: ‎04-02-2010
0

Re: Need Help ~ Keep House, but???

 


fishbjc wrote:

Her house is wayyy too small for a renter as it's only 2 br.  She needs a car because she has to do errands for her gentleman.  Her son does work p/t.

 

Here's a crazy idea....she loves to g/s and is quite good at it.  We're going to work on an etsy store for her to sell some vintage items.  Since she has Thursdays off, it will be perfect.

 

I think bk7 is the best option for her...the stress will be off.  We're waiting to hear from one drug mfg. to see if they will help with the pres. costs...we'll see.

 

They do plant a garden each year and I've suggested she look around for a couple of cleaning clients...even one per week or doing evening child care.  Her area is pretty depressed, so we will see.


 

It's so much more fun to fail to solve someone else's problems than to fail to solve my own.

 

I have to ask, what is "g/s"?  I looked for it on the net but the only things I could come up with were "gene sequencing" and one or two options that seemed at least equally improbable.

 

Here are some more crazy ideas.

 

- Look for any vintage toys, tools, bottles, tractors, books, etc that might be sold.

 

- Ask for financial help on the Internet.  Searching for  "asking for financial help on the internet" yields more non-totally-wacky answers than one might imagine.

 

- Also, "how to make money on the internet" yields some more non-totally-wacky ideas.

 

Although it occurs to me that they may have given up internet connectivity.  Ouch.

 

If they do go fishing on the Internet this may be a totally obvious suggestion, but I would advocate a "throw down" gmail account, "jonesfamily534@gmail.com" or whatever, which can be forwarded to a real account.  That way when the crazies and the spammers eat the throw down account alive it can be tossed overboard.

 

 

 

 

 

-----
04/2010 EQ 656 TU 648
05/2010 EQ 669 TU 664
06/2010 EQ 674 TU 678
07/2010 EQ 666 TU 667
Frequent Contributor
Mank
Posts: 414
Registered: ‎11-30-2008
0

Re: Need Help ~ Keep House, but???

g/s=Garage Sale


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