water bill bankruptcy
Have any of you ever had to file bankruptcy?
Have any of you ever had to file bankruptcy?
What do you do when you have no money, you are behind on every single bill you owe, you are about to get water, gas, electric turned off, foreclosed, and sued, and your credit is shot due to the fact that you cant pay your bills now my husband makes very good money, but thanks to a recent layoff we got so far behind. He is back to work but there is no way we can catch up that quickly we just don’t know what to do anymore, we have three very young kids, what advice do you have?
When your husband was first laid off you should have contacted all of your creditors and the utility companies. Since you didn’t, you need to do it immediately. Most creditors are willing to work with you to set up payments to keep your accounts current but you have to talk to them. Utility companies are also usually willing to work out a payment plan. All your credit cards should be locked away except for one that will be used only in an emergency.
You should also check with your local government to see what aid they might be able to give you. Ask for their help after you’ve talked with your creditors and utilities.
Bankruptcy should be avoided at all costs. It stays on your credit report for 7 to 10 years and guarantees you will pay higher interest rates on a vehicle or a house. You will not be able to finance furniture or other consumer goods as long as the bankruptcy is on your record.
I have worked in retail sales for several years and hear, at least once a week: “Why I just bought a new truck so why can’t I get financed for this living room group?” The answer is simple – the bankruptcy they took 5 years ago.
Once you get everything straightened out you need to get serious about saving money. All of us are guilty of wasting money by visiting fast food joints when we could pack a lunch; by buying bottled water when a Britta Filter Pitcher works just fine; by buying colas from the machine when we could take them to work; by yielding to that new Aeropostale or Hilfiger sweatshirt or those designer jeans; by ordering out for supper when we could cook supper (and have leftovers for work lunches). In other words, sit down and account for every dollar you spend and then work diligently to eliminate wasteful spending and then put that money in a savings account and leave it there.
