I was recently delivered a Writ of Garnishment, taking $348 per check to pay back a $6200 personal loan from Springleaf.
I only clear $1000 per check.
My mortgage is $1385 and My car is $375
That doesn’t leave a lot of room for gasoline, natural gas, power, phone, food, clothes, student loans, car insurance, water, and the myriad of other stupid loans (like the $4500 to replace my furnace or the stupid payday loans, and the credit cards). My wife works, but she’s got payday loans, and student loans of her own and thus isn’t very helpful in catching anything up.
I’ve applied for a second job at 8 locations – even though they want me to work nights, I have to interview during the day… rough to take a day off from my job to interview for another. This was BEFORE I got the garnishment notice. Now, if I get a second job I’ll have to work it full time just to TRY to catch up. If I spend all my time working to pay off debts I might as well just stop working and die.
It’s completely morbid, but if I off-myself will my kids and wife be left with the debt? It’s not an option, since I can’t afford the goddamned bullet or pocket-knife even if I had the courage to do it…
I bring home $2k per month after taxes and deductions, and my expenses are around $2500 – that’s just to remain alive in house and home – but now that I’m being garnished $696 per month, I really can’t pay anything. It’s all I can do to keep food in my son and daughter’s tummies…
So what should I do? Bankruptcy? Flee the country? Abandon my family to the in-laws? Knock over a bank? If I had the first clue how, I’d pick up a contract to assassinate someone for a nice payday. It’s bad when you want to kill yourself to avoid your debt, it’s worse when you’ll kill someone else to pay it off.
In all seriousness… I’m fucked. I can work 80 hours a week and not pay my debts, so why should I stick around? What can I do?”
The AnswerIf 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. Writ of Garnishment Leaves Me Unable to Car for My Wife and Kids. What Should I Do? by Steve Rhode