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How Do I Pay My Bills When I Don’t Have Enough Money? – Aldo

“Dear Steve,

I have a loan and a 6 credit cards. I used to borrow money from friends and relatives to pay off by credit card. the problem is I can pay my cards but after another month I will have to pay again the minimum payments for the cards and i will run out of cash. now I have borrowed to most of my friends and the people I know. I dont know where to get the money to pay my loan and credit card.

My salary was not enough. I am getting $2800 a month and my payment every month is $4700. how can I survive with this situation. I am in Dubai right now as an expat and i dont want to run away from my responsibility.


Dear Aldo,

The time has come for you to face this situation head-on. While your friends and family were trying to help you by lending you money, they actually did the opposite. Lending you money to continue a situation that has no positive solution only pushes the problem into the future, not resolve it.

I think you’ll have to come to the hard conclusion that you simply don’t have enough money to be able to pay your bills and now is the time to consider bankruptcy. You can click here to find a local bankruptcy attorney to talk to. Make a free appointment, go talk to them and learn the facts. Then, if you need to borrow money from your family and friends to pay for bankruptcy, that’s an investment worth making.

Sure bankruptcy has a bit of a sting to it but taking money from family and friends that can’t be repaid and won’t solve the problem is not a solution.

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About Steve Rhode

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.
  • Drevil286

    Dear Steve,
    I have in the last 13 months been very ill and had a great job of 23 years bring home $6000 a month. Now, after doctor recomendations I have I have Social Security Disability and it does not pay the bills. I have done all the wrong things like: withdraw my 401k to pay down debt, used all my savings to pay down debt and now I am down to less than $15k in credit cards, $16k on my 2008 car and my home is less than $24k. I have tried to get an Equity Loan to take care of these but since my sickness my debts fell behind and now I have a 595 credit score with lots of late payments. I own a 1999 16 x 80 Palm Harbour on 2 acres with 500′ of private lake frontage and valued at 102,900 in 2010. I can not get a equity loan to pay off all my debts and have just one payment I could afford and life would be improved. Keep in mind I still go to the doctors monthly and have about $200 in visits and $125 in meds to buy. I just want to know if there is anyone that will loan me the 55k to pay the debts and hold title to home and land. I appreciate any direction or answers to my situation. Thank you for your time.
    Herbert Daniel Johnson Jr.
    93 Lakeview Lane
    Toccoa, Georgia 

    • Steve Rhode

      It sounds like you are looking at a Chapter 13 bankruptcy if you can afford to keep your home.

      Use the free How to Get Out of Debt Calculator to review your options.

      After that, come back here and comment about what seems to make the most sense and let’s discuss that.

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