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Bamrak · 10-08-2004, 04:14 PM

Hey man,
I know we've not agreed on much in the past, but I can only offer some advise for you. You are no where NEAR bankrupt.
Here would be my suggestion ( I'm currently on this same plan, so if you need to talk about it, my PM is open.)
1.[B]a WRITTEN budget ( excel will also work)- the purpose being so that you can identify where you are spending, and begin making a gameplan to start getting out of debt

2. Do not consolidate your debt unless you 1, change your spending habits and 2, close any and all loans, credit cards, and lines of credit.

3. Get some money in the bank as an emergency fund or a rainy day fund. The purpose being if an emergency happens, you don't have to fall back on credit.

4. Begin paying minimum payments on everything and all extra money will go on the smallest debt. Once that is paid, the extra and the payment of that will go to the next highest, and this repeats itself.

5. If this seems to move to slow, you may need a bigger shovel to dig yourself out with.. a second job might be in your future.
If my conversion is right.. you can get a minimum wage job for 25 hours a week, you can have the smallest credit card paid off in three months, the next largest in about 8 months... This is minimum wage with no other money.

Your lack oif understanding of where the money is going is because you have no gameplan with the money that is coming in... Running your household is much like running a business; there's no way you would run a business and hope to be profitable if you do not have a budget or a forecast.

Good luck man, and let me know if I can do anything to help.

10-08-2004, 04:14 PM	#9 (permalink)
Bamrak Enter Title Here Location: Tennessee	Hey man, I know we've not agreed on much in the past, but I can only offer some advise for you. You are no where NEAR bankrupt. Here would be my suggestion ( I'm currently on this same plan, so if you need to talk about it, my PM is open.) 1.[B]a WRITTEN budget ( excel will also work)- the purpose being so that you can identify where you are spending, and begin making a gameplan to start getting out of debt 2. Do not consolidate your debt unless you 1, change your spending habits and 2, close any and all loans, credit cards, and lines of credit. 3. Get some money in the bank as an emergency fund or a rainy day fund. The purpose being if an emergency happens, you don't have to fall back on credit. 4. Begin paying minimum payments on everything and all extra money will go on the smallest debt. Once that is paid, the extra and the payment of that will go to the next highest, and this repeats itself. 5. If this seems to move to slow, you may need a bigger shovel to dig yourself out with.. a second job might be in your future. If my conversion is right.. you can get a minimum wage job for 25 hours a week, you can have the smallest credit card paid off in three months, the next largest in about 8 months... This is minimum wage with no other money. Your lack oif understanding of where the money is going is because you have no gameplan with the money that is coming in... Running your household is much like running a business; there's no way you would run a business and hope to be profitable if you do not have a budget or a forecast. Good luck man, and let me know if I can do anything to help.