Help I am lost in to much debt I have no clue on how to get outwhat should I do? My score are t low to do any thing with. I have a Outrageous 2nd on my house that my husband I took out just 4 months ago that we got so in dept on. We got no number before signing we got them after and when the 1st payment came around. I can't sleep or eat or anything. I have 75,000.00 in debt not including the 2nd or the car payments... I am so stuck what to do...I am not late on anything just have to much debt...This is killing what do I do?I am at lost any idea? any one? please!!!I have no saving nor nothing like that. I hate when people ask that well borrow the moeny from family. Wish I could but not...My husbands blames me so I guess it is my fault I do handle the money. All my creidter blameme too... So I guess it is my fault.Guess I should give up the ship and loss evey thing and go the big 13...My score would be the same at least...That is how stressed I amso please help. Banks just laugh at me I mean laugh at me...It is sad very sad..Please idea...thanks Ca

Chellyalb,

I think at this point it sounds like you need to consider all of your options, including BK (start by reading/posting on the BK area of this board.) Other than that, you could try to work something out with your creditors (some have hardship programs that allow you to pay less for a predetermined period of time) or you could just stop paying your bills and hope the SOL runs out before you are sued (obviously not recommended.)

From the very limited info you have provided, I would at least look into bankruptcy. If you do a Chapter 13, you will keep your house and cars. From what it sounds like, it's not going to make your scores any worse. Most lawyers have free consulations with no obligations if you just want to go and ask questions.

The most important thing to remember is that even though it feels like it, debt it not the end of the world. You have options. As long as you take control of the situation, everything will be okay. Good luck to you!

Personally I would calm down first. Get all your financial documents in order then try to figure out a budget or spending plan (I like these better ). I would look for things that could be sold. I would also stop looking for new ways to borrow money. Every dollar you borrow will put you further into the hole and its not a good feeling down there.

Good Luck to you

I agree. The are two ways to fix this problem: increase your income or decrease your spending. You can't borrow your way out of debt.

Get on a written budget. You could also get a second job to jump start your plan.

Chell,

Try putting your list of bills on here & maybe we can figure something out for you. Don't blame yourself for the situation, both husband & wife should have some say in financial decisions, especially big ones. No one person should take the brunt of it all. But list all your debt, including interest rates. It's very eye-opening to see the total, sometimes discouraging, but it'll be better for you in the long run to know exactly where you are. I just ran my totals last week. But now that I know where I am, I can begin a program of becoming debt free.

Do you have a job? Do you know how much money comes into the house versus how much is going out? Definitely sell anything that you can. Cut to the bone on anything else in the household.

So, let's see your numbers & see where you are before you announce "defeat". Ok?

Hello, I have 3 kids and I don't work.Since if I worked I would have to have night day care and day daycare because my husband travels. He is gone all week long. I would be working to pay some onelse to watch my kids. So it makes no since for me to owrk we would be in debt more if I worked. I have a budget and I try my hardest to go by it every month. I know every dime that goes out of this house and that comes in. I know to the penny how much debt I owe and how muchmy husband makes. I am medications because I have OCD with money to the point where that I check every one of my accounts 15-20 times a day to balacne every account credit checking pesonal loan ect. I think you get the point on that. My husband makes a lot of money every year.My husband doesn't care if he made the bill or not he blames me. It is my fault. All I want ot do is try to not get any more loans just find a good way of paying them off. But how I just don't know I most of the time would know but I am a lost I really wish I did. I guess just give up and just fight with the crediter every time they call me. I am going nuts here....Ca

If creditors are calling, then you're paying late? or not paying at all? Once you start missing payments, you're in really deep, because you have default rates, late payment fees, etc.

Is your husband willing to co-operate with you on a budget? Sounds like maybe that is a big problem. Give us more details.

One thing a lot of homemakers do is daycare for others - you can make pretty good money keeping other people's kids. Is that a possibility?

No I don't have late payments no late fee's but I do have crediters calling me all the time.Husband does blame me and doesn't care He tells me it is his money and he will makes it and he will spend it.He doesn't see the big pictures he only see today not tomorrow. I see today and tomorrow and next week.Like last week I paid an account before it was due but they called me 15-20 times a day for two weeks. Finally I called them back I never anwers the phone because I knew there was know reason for them to call me. They told me I didn't pay them. I told I paid them on this date this amount and here is the trans action number. They told mme to wait. They came back 20 mintues later and told me you where right we had it on hold for the last two weeks? For why I asked we don't know was the reason they gave me.See I get these kinda of calls from bill collectors all the time for things like that. Not for me being late on my bills. For stupid stuff like that. This is what I go through every month. Do you know how stressfull this is.I could scream. If i didn't pay my bills with the transcation number I would be so messed up. If I didn't keep a paper trail I would be lost. I can't have a daycare in my house the home owner will not let us in our houseing. it is not aloud. I am trying to start my own business though. So I can make some extra money. But I need my credit scores up higher at least 100 plus points to help me start a business. They are very low.Tu 588 EQ 617 and experian 688(not sure on this one pulled from there sight and got that number) got these number on 10/15/05. I pull my number every day so I know when they go down and go up. My euqifax has gone down 150 points since septmeber which I have wrote to them and asked whyand they have told me nothing. I do know that some has been using my credit report and My husbands. We have their names and we have the letters from the credit companies that have got credit through. You know that they will not take those accounts off mine or my husband report or the inquires either. Who would have thought. Don't know what to do about that either. I quess give up who cares any more LIFE SUCKS!!!!!!

Do you have copies of your report, showing that someone else is using it? You can use the ID theft provisions - but you have to get mad enough to do something about it. I don't think you found this place just to say you give up, did you?

It takes a little work, but you can fight back, there are laws on your side. Why give up?

I have the reports and also the letters from the credit company's. I keep every thing but some times it just feels like a losing battle. I hate it when things don't go my way. Money and debt was my thing. I could always make it work. I was good at numbers but I guess I am losing it I guess it is age? I just feel like I am doing things right and getting beat up for them.Yes I am fighting the id theft. this happened about 10 years ago to us when I got my car stolen when my husband was a USMC. He left his check book in the car O my goodness was that a mess. I am not looking forward on going through that again. This is such a pain it took us about two years to get that cleaned up. wow another two years boy can't wait.Where are the roses??????

If you have a paper trail, and no one is working with you - you need a consumer attorney. Actually, this could be the cause of the other problems. If you have excessive rates on your credit cards, and a bad score because of items that don't belong to you, an attorney would probably take your case. Have you talked to one?

That could be my problem with our credit score being so low and all this unknow debt that is not our that keeps showing up on our reports. That Also could be why our score went down so much in one week. I noticed a lot of inquiry's that I have been trying to get off. But like one credit company when I wrote and told them that I had an account with them but some was trying to get credit in our name with there company on this date and that date. They told me to shut up and those inquiry have to stay on for two years. I told them NO they aren't mine. I got your card 5 years a go. I have 45 inquiry's on my credit and husband has 55 in the last six months. Some from the same company's 5 or 6 time in the same day????I know my husband would not get credit he know he could not put a soda on credit right know that is all I give him. I know even though I would love to try to help start my business I need money I have to get my scores up 150 plus to get any one to talk to me. So I am fighting O yep! well it every get better.....NOT no light at end of tunnel....I don't think I could get a laywer to help either.you need money to get them to help...donot have any....I have to fiht it all by my self. I guess...Sick of fighting I guess i should let the bad guys win huh...

If you file a report of identity theft, and send the proper letters, and the creditors do not respond, a lawyer will take your case - you have to have a paper trail, though, that proves the creditors are not co-operating.

file a police report on the identity theft. and a consumer atty will take on cases involving credit because the fee is covered. For ex, say you have a credit card comapny that has a fraudulent account and they refuse to remove it, you get a consumer atty and they go to bat for ya, under the FCRA/FDCPA the credit card company would have to pay all their fees, all they have to do to get paid is prove the credit card company is refusing to follow the law. You can also put a Fraud Alert on your credit files for both you and your DH. I would put one on all reports ASAP.

I have and still getting no where. I am just lost. Don't know where to go from here. so very very lost.the only thing luckliy they haven't been able to get much credit since my score are so low. But still the credit reporting company's tell me it is me and the credit company's tell it was me that. Boy they are so stupid even when I so them proof. It is so stressfull and then being in debt too. Good when are we are always stressed out.

Try to get a job working from home! At least you will be bringing extra income!

I don't know if it's just me, maybe I need to re-read this thread, but it sounds to me like the OP is just ranting on how much her life sucks. Once in a while she'll answer a question, but she isn't taking this advice people are giving her.

To the OP, if you are over $75,000 in debt then starting your own business is the last thing that should be on your list. You said you're getting 55 inquiries on your report the last 6 months? That's a bit excessive. You said you have OCD, are you sure you aren't applying for more credit. I agree 45 and 55 inquiries in 6 months is extremely excessive, but you have said you check your balance 15-20 times a day. I can see how if you feel you're in trouble then you apply for more credit for a better deal, but you need to slow down with everything.

If I were you, I wouldn't be worrying about my credit at this point in time. Yes you need to worry about identity theft, but you need to get out of debt before you start worrying about your scores. George says it best, FICO doesn't buy FOOD. There's a lot of good advice on this thread. Go see an attorney if you're not doing this to your own credit. Create a budget and don't stray from it. Before you know it, you'll start to chip away at that debt. Good luck.