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My Husband Passed Away. We Used to Be Shoppers Together. – Karen

“Dear Steve,

Lost my husband and we use to shop so I continued to shop till there was no more cards to use. so now No job-will have one soon-and bills

I am about 30 thousand in debt-till today I could make payments. Am attempting to sell my home-I Owe nothing on my home but no one will loan me 30thousand to pay of my cards-I will be going into default till the house sells.

Karen”

Dear Karen,

I can certainly see how shopping might not only be an escape from the stress and life events you’ve been through but also bring back some nostalgia from those old joint shopping trips.

The most important issue right now is to make sure the home is priced for a quick sale. Many real estate agents will price the house high, hoping to get a higher commission. In your case the quicker the sale the better. That will mean lowering the price to make it the most attractive house on the market in your area.

If you are unable to pay your credit cards right now then it is what it is. If you do default you will start to get some collection calls and letters. Don’t dodge the collectors, just keep them posted about what is going on. Make the collector your friend but NEVER promise them a payment you can’t afford to make.

This will let you flow through the normal collection queue and give you about five months or so before you need to worry about them taking drastic action.

If you were working and could verify your income then an unsecured debt consolidation loan from LendingClub.com might be the best answer. Unfortunately LendingClub.com only lends to $26,000 but even that would be a big help.

You might want to look into LendingClub for when you do start to work.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

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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.

1 Comment

  • Hi Karen,

    It sounds like you’ve been through a lot.

    Finding that job would probably be the most important step in the right direction. Once you have some income, you will have the ability to approach your creditors and work something out. Until then, do your best to line up that source of income, or sell your home.

    You may not have to sell your home to clear this up, if you don’t want to. Not having a monthly payment to keep a roof over your head, is not a bad position to be in. I would hate to see you create a “housing” issue down the road, in order to fix an “unsecured debt” problem now.

    Good Luck!

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