Financial Distress

[waygate]

Perhaps if you were (and continue to be) less frugal with your credit cards. In the mean time, as suggested by others, see a credit counselor; they should be able to help you. Remember, do not spend money that you do not have.

[Guest dadof8]

Perhaps if you were (and continue to be) less frugal with your credit cards. In the mean time, as suggested by others, see a credit counselor; they should be able to help you. Remember, do not spend money that you do not have.

<{POST_SNAPBACK}>

Actually, I am very frugal. Unfortunately feeding, clothing and providing for the basic needs of 10 people is expensive. Furthermore, I don't know hoe many people with large families can absorb a 70% cut in income.

[Guest dadof8]

Prayiing.

Have you contacted Consumer Credit Counseling for your debt?

<{POST_SNAPBACK}>

Yes, they say there is nothing they can do

<{POST_SNAPBACK}>

I find that hard to believe. The only kind of debt that CCC can't handle is school and federal loans. But even then you can make payment arrangements based upon your financial disparity.

You wrote that you were making $200,000 a year. That indicates to me that you are a professional with a high degree. Is that assumption correct? Then how is it you've not been able to find a job within your professional experience or degree that pays well enough?

<{POST_SNAPBACK}>

You're assumption is correct, I am a professional with an MBA. Part of the problem of finding a new position is that it generally takes 1 month for every $10K in salary. With such a large family and overhead I don't have 20 months. Second my background is financial services and location wise I no longer llive in an area with solid, growing financial services sector.

Regarding CCC, they did tell me that there was nothing they could do. The reason, I don't have the income or equity to allow me to make the payments that they would agree to with the banks.

[Leonard]

I hear you, Dadof8! CCC is as worthless as mammaries on a lizard!! In your shoes, I would not hesitate to file a bankruptcy. Your FIRST AND PRIMARY MORAL OBLIGATION IS TO MAKE SURE YOUR FAMILY DOES NOT SUFFER!

[RGR]

I know this sounds maybe like something you don't want to do, but have you considered food stamps and some sort of other financial support for the temporary?

[Constant]

I hear you, Dadof8!  CCC is as worthless as mammaries on a lizard!!  In your shoes, I would not hesitate to file a bankruptcy.  Your FIRST AND PRIMARY MORAL OBLIGATION IS TO MAKE SURE YOUR FAMILY DOES NOT SUFFER!

<{POST_SNAPBACK}>

Your interest will keep adding onto your cc debts and soon it will be impossible to get out. Maybe you could look at that option of Bankruptcy. Not your first choice but a choice.

[kooltat]

I am the father of 8 wonderful children (6 girls, 2 boys) and try to provide for them and my wife the best I can. 6 Years ago I was making $200,000 a year and living comfortably however the last 6 years have been difficult and getting worse...............

Over the past 6 years my income has declined 70% but as the family ages financial needs increase.

I can really relate to your troubles though my income was never as high or even close to yours, but in retrospect my debts for my income would be as equally unsurmountable for me as yours are for you. As some one else has responded we all have our own troubles in life. I really did not see your post as asking for money as some one else did, however if it did I agree that would be wrong as well. For myself I have had zero income for eleven months now and though my wife and I have no children to worry about we are like you going deeper in debt with each passing day. Even my online gift store has not been producing any sales but with my contract I must scrape up it's fees every month and my wife just does not make enough on her salary to take care of everything. She has been great this whole time since I lost my job and have not been able to find one. So I come here almost every day to read and some times to post just for the spiritual uplifting I need to keep my faith in the Lord for I know that He will not permit my burden to be more than I can handle. Most days I feel that I have already reached that point, but as things continue to get worse I guess the Lord thinks I'm stronger than I think I am. He knows best and everything happens for a reason and we must just keep praying every day until we find that reason and the new and better path that He wants us to follow. His love is never ending nor should ours for Him, He will lead all of us if we only ask and show Him our Love. Give Him your burdens from your heart and in time when He feels it's time He will take them and renew your life. Have a blessed day........Kooltat

[kittylover0991]

I really don't know much about financial related issues.. however, there is one thing that I do know.. it was said by a man who is a dear friend of many in our church and, from the sounds of it, knows a lot of financial aid.. :

Mat 6:33 But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.

[RustyAngeL]

Prayiing.

Have you contacted Consumer Credit Counseling for your debt?

<{POST_SNAPBACK}>

Yes this is a good idea. And yes I'm praying. I know how it feels. I work for county and they pay me when they get around to it. I"m a caregiver and my patient is home now for almost six weeks. I just got my first paycheck, they are three behind..I'm praying...God will answer.

[Guest dadof8]

I am the father of 8 wonderful children (6 girls, 2 boys) and try to provide for them and my wife the best I can. 6 Years ago I was making $200,000 a year and living comfortably however the last 6 years have been difficult and getting worse...............

Over the past 6 years my income has declined 70% but as the family ages financial needs increase.

I can really relate to your troubles though my income was never as high or even close to yours, but in retrospect my debts for my income would be as equally unsurmountable for me as yours are for you. As some one else has responded we all have our own troubles in life. I really did not see your post as asking for money as some one else did, however if it did I agree that would be wrong as well. For myself I have had zero income for eleven months now and though my wife and I have no children to worry about we are like you going deeper in debt with each passing day. Even my online gift store has not been producing any sales but with my contract I must scrape up it's fees every month and my wife just does not make enough on her salary to take care of everything. She has been great this whole time since I lost my job and have not been able to find one. So I come here almost every day to read and some times to post just for the spiritual uplifting I need to keep my faith in the Lord for I know that He will not permit my burden to be more than I can handle. Most days I feel that I have already reached that point, but as things continue to get worse I guess the Lord thinks I'm stronger than I think I am. He knows best and everything happens for a reason and we must just keep praying every day until we find that reason and the new and better path that He wants us to follow. His love is never ending nor should ours for Him, He will lead all of us if we only ask and show Him our Love. Give Him your burdens from your heart and in time when He feels it's time He will take them and renew your life. Have a blessed day........Kooltat

<{POST_SNAPBACK}>

Kooltat, thank you for your insight. I'm sorry to here about your financial situation. Every day my wife, kids and I pray to the Sacred Heart, St. Padre Pio, St. Joseph and say the Rosary. I hope before we lose our home the lord will intervene.

God Bless