It sounds like you have a great idea

it sounds like you have a great idea…i think i’ll try that this week when i get paid. (only once a month) hoping i can find some way out. we were going to try a credit councilor but the day we were going to send in the money…they were all over the news about taking ppl’s money. i spoke with the man that we were dealing with, and he assured me that wasn’t the issue…who do you believe?

It doesn’t seem like anyone has done this

I’ve read several of Dave’s books and I just was hoping to hear some real life experiences from someone who has done it.

Basically, what I am going to do is go over my budget for the millionth time and see if there are any more cuts. Then I am going to determine what is the total amount that can be applied to creditors.

I am unable to pay the minimums on any credit cards at this time. This will change but at this time that is where I am at.

I am contacting the creditors this week to discuss payment plans. I will discuss with them also my allotment plan. My only concern is if the creditor decides to sue but I guess I will deal with that when and if it happens.

One of my creditors is MBNA and I’ve heard that they are quick to sue but we shall see.

I appreciate all the other encouragement. I’ve lowered my regular phone/dsl bill so that is a least a little bit of help in the budget.

How is everyone else doing?

I watched you post this a few times

I watched you post this a few times and no ones really said they have done this, so I decided to make some suggestions. Basicly, Do what you can do, when your at the point of rock bottom what do you have to lose? What you want to do can’t really hurt, can it? Bankruptcy seems pretty much the last resort to me. And what is the worst thing that could happen? and how bad is that?

I know you’ve said you’ve worked out you budget and made the cuts where you can so, Pay all you necessities (ie roof, food, utilities, cars, if you can get out of a car payments try to do that) then what do you owe? How much total can you pay? How much do they each want ( do you meet the min on any)? Use logic now and a little math. I would use percentages for the amounts. IE I owe company Q $2000.00 which is 10% of the total debt; therefore I’ll pay them 10% out of “the what I can pay the creditors” pie. Does that make sense?

I would snow ball those payments also, so after one gets paid off take that payment down to the next. Does it work? I don’t know, but if you are going to do this I’d let each company know that you are going to do this ( only if your percentage is less than their min. and what the situation is(don’t forget to tell them you are considering bankruptcy, but trying not to). You are basically being your own CC, you just aren’t paying the fee. Read Dave Ramsey’s Financial Peace chapter on “dumping debt”, you may gain more insight in that. Hope this helped.

Thanks for the warning

I know that getting Social Security with a diagnosis of Fibro can be very hard. Fibro runs in my family. My mother has it and has gotten her SS and my sister also has it and is receiving her disability.

It took my sister 3 1/2 years to get her disability going so I know I am in for a long hard battle but there is nothing else I can do but fight them on this one. Honestly, this is one fight I would prefer not to have to fight.

I went from being able to do everything to being able to do very little. This is certainly not something I would wish I on worst enemy. Thanks again for your support, I can always use the extra encouragement.