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Where Do I Turn for Help When I Can’t Afford My Bills? – Barbara

“Dear Steve,

I’m a over the road truck driver. I still have fairly good credit but losing it fast. I work for a company with my husband. We had some bad luck and lost over half my pay check for more than 3 weeks. It’s like every time we turn around we are sitting for as much as 3 days at a time. Right now we are sitting again. I tried getting cash advances but now I only have the funds to pay the intrest on them. Plus my other bills are coming due. I fill if I could get a personal loan to get out of this hole I could pay it back. I’ve got a good job it’s just a series of unforchunate events that have put me in this hole. I don’t want to give up my credit. I want to pay my bills. I just don’t know where to start.

How do you get financial help to keep you going until life gets back to normal? I have insurance on my cars that has to be paid. Phone bills, have to have them for my job. Where do I turn?

Barbara”

Dear Barbara,

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Well this is why an emergency fund is so important. Having cash saved to cover us in the lean times is critical to prevent just such times from happening.

By the time you are taking out payday loans and not making the payment then you are already in deep trouble. When you are this far down the dark debt hole the only two options are either to increase your income or reduce your expenses in order to catch up. For many the only real option they have to reduce debt is bankruptcy.

It sounds like bankruptcy is the most logical course to follow in your situation as well. You can click here to find a local bankruptcy attorney.

Bankruptcy would discharge your debts you have no way of managing, would protect you from creditors, would stop collection calls, and prevent you from being sued.

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After bankruptcy will be your best chance to start building up your emergency fund to protect yourself in the future. And don’t worry, it is relatively easy to rebuild your credit. Just follow this guide.

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.

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