Information Needed RE: To Much Debt. I need help..please!!

[justme]

Hello everyone,
I feel like I have failed at everything. After twenty years with a man that I thought I would grow old with I found myself facing a life that scared me to death. I did try to dig my heels in and went back to school and will graduate in HIM in just a couple of weeks. However, like alot of folks my ex won't work trying to get on disability but who knows when or if that will happen. My paycheck covers alot but will only cover so much and now the child support is pretty well gone as well. I have talked to some debt couselors and have been told for a nice fee that I will pay that they can help with the credit cards or unsecure loads that I have. I have also went and talked to a lawyer about possibly filing for bankrupcy the phone rings non stop and I am just getting further and further behind. I don't want to file for bankrupcy for one thing I can't even afford that it is gonna cost about two thousand to do it and the lawyer won't file the paperwork till the full amount is paid. I can't afford another monthly bill as in the debt loan or combining the bills into one payment. I do not know what to do is there anyone who knows of anything that I can do. I am looking for part time work as well I have been blessed in that I do have a full time job which has allowed me to carry insurance on my kids. Please I cry all the time it is on my mind day and night it is getting to the point that I just barely go through the motions of living. Thanks for taking the time to read this.

[SallySue15]

Hello justme,

I am sorry, but there are not a huge number of options. You need to cut your spending, so you will have money to begin paying down your debt. This means, cutting out all non-essential spending, like cable television, getting rid of a phone line (if you have both a home phone line and a cell phone), stop eating out, use coupons and buy generic brand products at the grocery store.

You should also have a family meeting with your kids, and let them know about the money situation. Kids often have great ideas on ways to save money as a family.

You should contact your credit card companies and see if there is anything that they can do to help you. Sometimes they will settle for a lesser amount than what you actually owe. They will cancel you credit card after they receive your lowered payment, but you will not owe them anymore. Collectors do not like to have to call you repeatedly and not get an answer. The longer that happens for, the less likely they will be to help you.

Basically, you need to take a deep breath and reevaluate your financial situation. You need to be bringing more money in than you have going out each month. Until you are able to do that, there are not many options for help out there.

Good luck!

~Sally~