“I’m starting to get behind on bills. I owe $180,000.00 total: two houses ($12,500.00 and $35,000.00 appraisal) $97,000.00 and $24,000.00 owed. A 2006 van, 2005 truck, 2006 motorcycle, $13,000.00 credit card debt, a 2004 450 4 wheeler, but I can pay only $1200.00 every two weeks. Any suggestions?”
It sounds like you’ve had quite a good time over the past few years and had an opportunity to enjoy life. The only thing you are missing here, is some sort of water transportation.
Let’s look at the facts, if you financed all your wheel based stuff then it is highly doubtful that it is going to be worth more than the residual values on the loans at this point, and even if it was, it is a tough market to find a buyer for stuff right now. People are hoarding their cash, as they should be.
Right now you are stuff rich but cash poor and it certainly sounds like you are using all your available cash to service your debt.
The most immediate and logical solution would be for you to get a free bankruptcy review and see how bankruptcy may impact your life and resolve your asset rich but cash poor situation.
While all these toys are fun and a joy to own, they are a noose around your neck right now and if you can’t make your payments as you originally promised, as long as you hold on to these things they will drag you down.
To make it through these difficult times, if you are struggling, get rid of the stuff that is dragging you down. Right now your stuff owns you instead of you owning it.