I am now 60 years old, have worked most of my life, but was primarily self-employed. I was married for 30 years to an abusive man, both physically and mentally and after 5 years am still going through a divorce. I left my husband when my home and all possessions were washed away (literally) by Hurricane Katrina in 2005.
I have worked in several capacities since then, had not until this year actually made enough to pay taxes, but since after the storm have rebuilt a home (on the same property I have lived on with my animals for 27 years) with half the proceeds from the insurance settlement and my mother’s inheritance to me.
The house is still unfinished but I am living in it and trying to finish it with income I received as a Vessels of Opportunity captain (I am USCG licensed) which was a gift from God to me, but unfortunately was a result of the BP oil spill. At this point I have not income other than odd jobs.
I am $49,048 in credit card debt plus another $7,964 owed on my truck. On credit cards I am making minimum payments and a truck note of $555.07 per mo. The cards are Bank of Am:$17,733.@9.9%,Discover$4,[email protected]%,Discover$9,[email protected]%,ATTUniversal$9,532@16%,Optima$4,[email protected]%,AmEx Blue$[email protected]%,AmEx Gold$[email protected]%. I am in debt primarily because my husband borrowed over $45K from me after we split the insurance proceeds and then did not pay me back and I had to put a roof over my head.
I have farm animals I cannot sell, need to buy feed and finish my house, and am trying to retain a “kitty” of about $27K that was part of my pay from the BP VOO program to continue paying my monthly bills and live on.
Should I file bankruptcy? or should I try to negotiate directly with the credit card companies (What’s the best way to do this?) I do not know when or where I might see future income and am hesitant to spend it all. I am also considering debt settlement. Could you please advise me? If debt settlement, who can I trust?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.I Need Debt Help. Can I Trust You Steve? - Dianne by Steve Rhode