“Dear Steve,
I am in debt with small things and do not own a home or anything me and my husband are renting and I currently adopted my nephews and now decided its time to buy a house but i can not get approved for anything because of my debt and credit rating same situation with my husband. we owe just under 10,000 combined together.
i was talking with someone from morgan drexen and decided it was not worth my time so declined thier offer but we cant seem to save money to get ourselves out of debt. I really want to do this so may provide for my kids and want to have a home in the next year or so.
We owe for medical, credit card, cellular bill, and a old cable bill, my husband is the only one working, and we recieve a small amount of subsidy for adopting my kids. i cant keep any money in the savings account we have it is just to hard for us. We pay a total of $750 a month now for our apartment and other utilities. and an extra $300 for gas and household things.
what can i do to help myself save and start mailing payments for the old bills i have to be better to provide for my kids future?
Kayle”
Dear Kayle,
You ask some tremendously exceptional questions that are critical to you moving forward with your life.
Just based on what you shared, it looks like you are making it month-to-month and limping along.
You face a predicament many do, how to get out of debt if you don’t have any extra money.
The answer is basic. You can either increase your income or intervene in your payments. The only way to do that and get legal protection from creditors is to use a fresh start tool like bankruptcy.
You can click here to find a consumer bankruptcy attorney in your area and talk to them about your situation. They can advise you specifically about how bankruptcy can help you.
Again, based on what you shared, it sounds like you’d be able to discharge your debt in a few months and then you’d have some money freed up to start building an emergency fund to help protect you and your family.
I’d like for you to read How to Get Out of Debt. The Honest and Unvarnished Truth. I’d also like for you to use the public benefits finder calculator to discover what benefits might be available to help you.
Once we decide how to deal with the unmanageable debt then you can start to rebuild even better credit. See How to Easily Rebuild Your Credit and Have Good Credit Again.
Check back in with me after you talk to the bankruptcy attorney and let me know what you think.
Please post your responses and follow-up messages to me on this in the comments section below.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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