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I’m a Stressed Out Baby Momma and Need Help. – Mom

“Dear Steve,

My husband and I were doing very well with finances until about 2 years ago. We got deeper and deeper in debt, and now we are $35,000 in unsecured debt. I found out I was pregnant 7 months ago and started saving money until my sister came to me for help-to make the long story short I lent her our savings and haven’t received a dime back yet. I am due in March, I work for Fed. Gov’t so I don’t get paid maternity leave. We have about $4000 in bills each month, and we bring in $5000. Without my paycheck, we will be short and will end up being behind on bills.

What should I do?

Should I go to Navy Federal and try to apply for a consolidation loan and explain to them our situation? Our Credit card APR’s range from 9% to 27%.

I am stressing out and need help asap.


Dear Mom,

Well I’m afraid the path was made fairly clear the moment your dear sister failed to give you the money back.

The problem here is that without any emergency fund to tied you over on maternity leave and then the increase in daycare expenses or the reduction in income once the child is born, I bet you just won’t be able to either make ends meet or catch up latter.

In a perfect world a debt consolidation loan might do the trick to consolidate your credit cards down to a better rate.

The first step will be to plan how much you could afford to pay each month on a consolidation plan for the cards after you factor in your post-baby financial reality.

If Navy Federal turns you down or you want to check for a better rate then look at the peer-to-peer lending network, LendingClub. If you end up going with LendingClub, I would be happy to be an investor in your loan.


So, give me an update in the comments section of your question on the site and let me know how much you think you’ll be able to afford after the baby is born. If the consolidation approach isn’t going to work for you, let me know and we’ll come up with a Plan B.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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