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I’m Living on Unemployment and Social Security But In Debt. – Tom

“Dear Steve,

I am out of work and collect unemployment from florida. I also took social security at age 64 to get buy on. My wife works but will retire in Feb 2012. After all our bills not credit cars are paid we haveroughly 1200.00 left We have about 26000 in credit card debt.The excess is used for food and prescriptions.

This brings us down to about $800.00 left. Which we try to use for offerings at church and any home repairs or car repairs needed. Credit csrd balance goes from 225.00 to 4500.00 I had a lawyer who was supposed to file bankruptcy but now wants us to pay down bills after he trys to get companies to reduce balance.

Any thoughts

Thank you

Tom”

Dear Tom,

The primary issue for me is that you are currently receiving unemployment and at some point that will end, probably long before your debt is extinguished.

How much longer do you have for your unemployment and if you were not receiving that would you be able to make ends meet?

Please post your answer in the comments section below.

Sincerely,


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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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