I don't know were to start. My husband is a good man and hard worker he works 75+ hours a week doing demolition. He is in the union and makes good money around 65,000 a year. We have three small children and I stay home because the the cost of childcare is too much and he dosen't work typical hours. Anyway our middle daughter has had many medical problems and our insurance company wouldn't cover here medical care. I am talking thousands and thousands of dollars we have completely ruined our credit borrowing from "peter to pay paul" you could say. Our house went into forclosure so we sold it and bought a home on a five year contract for deed so that we would have someplace to live. We owe everyone even friends and family and we just can't get ahead there just isn't enough to go around after we pay our mortgage payment. And everytime we have a little saved something else happens to set us back. We really need help but I don't know what to do? My husband gets more and more deppressed everyday he works so hard and feels like a failure. He has so much pride that he is embarassed to ask for help and I don't know what to do!! Please give me any suggestions.
Contact Consumer Credit Counseling Services. They are a very reputable company that we always recommend. they will contact all of your creditors for you,get them to lower their interest ratesand negotiate payments that you can make. for example they might get the creditors to require you pay them a certain amount that you both agree you are able to pay every month (like $20 a month). then they will send you a combined monthly bill for the set amount you have agreed to pay to all of your creditors. You will only need to pay ONE bill. they will also help you figure out a monthly budget including youre medical bills and mortgage.
RE: Help & CCC Be aware that CCC is subsidised by the credit card companies. This is how this non-profit organization stays alive. If you seek help from them, make sure they do not allow the creditors to report your accounts as charge-offs/collections. CCC does a good job of counseling (budgeting-finance-spending) and setting up the payment programs, but they do not follow through for the consumer. Many people that I have talked to that used the CCC, ended up with ruined credit files even though they thought they were acting responibly by using CCC. CCC will help the credit card companys get their money, but usually do not follow through for the consumer to help them preserve/maintain what credit history they may have. Ask the counselor about this up front. It is our contention that CCC is really an advocate of the creditors not the consumers. So its important to weigh all factors when choosing them. Good Luck, BarryN
RE: Help & CCC yes you do need to follow thorugh with the credit card companies cccs wont do that for you. you need to call the credit card companies and make sure that cccs has contacted them,that they are getting the payment from cccs.You might also want to call the credit card companies before you call cccs so they can tell you exactly how the account will be reported to the credit bureaus once you sign up with cccs (the cardcompanes decide this)
RE: Help & CCC I've seen people advise others that going through a CCC program is the equivilent of filing Chapter 13 Bankruptcy (repayment of debts). If this is true, then Chapter 7 (dismissal of debts) seems to be a better alternative for someone in serious debt with little chance for recovery. Especially so when real estate is at stake.
RE: Help & CCC I'm afraid I have to agree with Spyguyjim. First of all, it is an outrage and immoral that you should have your years of hard work and deligence destroyed because of medical bills. The overcharging and fraud by doctors and service providers have made health care in the United Sates the most expensive in the world. This week's Supreme Court decision that people cannot sue their HMO in federal court is a very chilling commentary on how much power the HMO's have. If your debts are as high as it sounds filing chapter 7 is certainly better financial planning. Lenders, including mortgage companies, take into account the reasons for the BK and medical bills are viewed as involuntary debt and can be easily documented. Along with talking to CCC I would do the same with a bankruptcy attorney. Good luck and maybe someday soon we will have universal health coverage like other first world countries and this will not happen to others.
I am so sorry for your situation. Is it possible that you have friends or family that could help out with your kids so you can get a job? Even if it's just part time for now. You'd be surprised how much even a part time job can help. How old are your kids? It sounds like you need more income--is it possible for you husband to go into another line of work that would pay more and perhaps have better insurance for your family? I think if you could get some additional income into the household and have someone watch your kids for free, you could get back on your feet. Good luck!
Thanks for your suggestion but my familiy is "too busy" my mother is a bingo freak and my sister is well on her way! There is no free care optional for us. Kylee needs round the clock attention and it is hard for me to see anyone else caring the way I do, not to mention every minute I spend with her is very precious it could be my last. I watch her sleep. My husband often feels we would be better off if he were dead! I am so lost, I carry all of this family's weight on my shoulders.
Lisa, Talk to your family doctor & tell him/her about your concerns over your husbands depression. There may be free counciling in your area where he can express his feelings. Have you exhausted local food pantries, churches (you don't have to be a member), emergency medical funds? You'd be surprised how much food costs in relation to a few extra bucks for other things. Chruch's also have helpfull programs for help with your daughter. Hospitals also have "trusts" (where people donate money for certain diseases and other things) to help pay off medical bills. These "offices" are usually tucked away in unobvious places. I had an uninsured baby & had an accident all in 2 months time. I found this mystery out when we couldn't pay off all the bills that ensued. Good luck. Ann
