My newest frustration.....why people who don't pay their bills get all the help?
The CC companies, the mortgage company. All of them have programs to help you if you are more than 90 days behind in your payments. If you are up to date....too bad, so sad. Are they really saying "please don't pay us?" I think I would be in the bathroom heaving if I didn't pay the bills.
Granted, I have ran the numbers.....and the amount we would "save" is amazing. This $7,000 we need to pay off the retirement loan....we would have it in no time. But, YIKES, to not pay????
I am so tired of being in that middle position. On paper, we make too much money to qualify for help. Yet, we are struggling. Why can't anyone help BEFORE you get to the point where you are at rock bottom, or even below rock bottom?
Hey Mysti! Alright, brace yourself...here comes more opinions...lol!
ReplyDeleteI constantly hear Dave Ramsey say that if you are living on a budget and still can't make it...put Student Loans on hardship deferrals, stop paying the credit cards (it's not like you aren't going to pay them..you are just prioritizing them and they aren't at the top), and get some traction underyour belt. If you took the money from CC's and put it on medical..how much could traction could you gain? And then the cc$ and medical$ on StudLoan2 - boom another one. two months later you are attacking CC3...and on and on. I have said in previous posts, fire the FA. Any FA that looks at your debts and salary and would advise you to get a loan is not living in reality! If it were me, I would worry about Food*Utilities*Shelter..and throw away the idea of refinancing or anything. Let them go to collections...you'll get to them..just not right now! You could even call Dave Ramsey's office for advice. 615.371.8881. Just ask for customer service and run it by them....it's cheaper than an FA.
Mysti...
ReplyDeleteI am NOT a financial advisor...but, I do have a BA in Finance (investing and banking). I could blow you away with our cc debt...it's about 70k..in just cc's. (but..it's where we've had to put medical and medical associated things on it). I too have noticed the darn cc companies just upping rates...and i'm paying well over the limits. I call and call and request lower rates and nothing.
Our mortgage company will not let us modify the mortgage because we're on time and not a "hard ship" case (have you read about our special needs kiddo who is worth over THREE MILLION DOLLARS? already?) SO, we've decided to STOP paying the mortgage and make them talk to us. It's in hubby's name and so it's his credit that's taking the beating...but, what can you do?? Those of us that are paying and getting the shaft. It isn't fair.
You don't want to ruin your credit...but, face it...who has perfect credit right now anyway?? and is it worth all the stress it puts on a family when money is such a hot topic.
Our mortgage is the only one I"m paying late now (and i'm not spending that money, just moving the funds to a savings account). I am starting to call the cc companies and demand a lower rate or let them know that I might stop paying them too (we'll see if it works).
I hope you figure out a way around all this...
but, you really might want to hold the mortgage company hostage first (or pick a cc to try).
I totally feel your pain.
Try to have a great weekend...
and thanks for all the great posts!
Kathy