Ask Experts Questions for FREE Help !
Ask
    dolphin80's Avatar
    dolphin80 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 8, 2007, 12:13 PM
    Losing Our House And Vehicles
    Im 26 And Married Have 4 Kids And Another In Coming In April2007 . Husband Had Decent Job Got Layrd Off Jan 5 2007 . House Mortgage 1 Month Behind . Husband Found A Job 11.oo Hr Was Making 21.75 . Nothing Hiring .please Help Were Losing Our House And Vehicles
    KMSRyana's Avatar
    KMSRyana Posts: 142, Reputation: 26
    Junior Member
     
    #2

    Jan 8, 2007, 12:18 PM
    The best thing you can do right now is immediately contact your current creditors and explain the situation to them. They want their money, yes, but it's a losing situation for everyone if they have to reposess anything or foreclose on your property. Explain what is going on and they will work with you. Don't bury your head in the sand and hope it gets better, you MUST take action. Call them. Ask for their help. Take notes on who you talk with, what time, and what your solution was. You may need to remind them of what they agreed to and who made what agreement and when.

    Good luck to you and I hope your situation improves.
    wynelle's Avatar
    wynelle Posts: 184, Reputation: 21
    Junior Member
     
    #3

    Jan 13, 2007, 07:35 PM
    It sounds like you were already having financial issues before your husband lost his job, if your mortgage payment was already a month late.

    From what I understand, you need to be more than one month behind to be foreclosed on, or to have vehicles repossessed.

    My advice is the same for everyone---there are jobs available, just not high-paying ones. If your husband works the day shift, then you need to find a job in the evenings or weekends. Sell what you can. Take to your creditors.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
    Expert
     
    #4

    Jan 13, 2007, 08:20 PM
    Sometimes it gets tough, and we can't pay 4000 in bills a month if we are only making 1500 month so someone don't get paid,

    Talk with the lenders as mentioned, let them know and keep looking for a better job. And he can try and get a second part time job if needed.

    And in the end you may look at bankruptcy, maybe a chapter 13 and try to work out a payment plan. Now if you have too many cars and owe too much on them, sometimes it is hard to work it out. But all you can do is your best.
    Wesly's Avatar
    Wesly Posts: 2, Reputation: 1
    New Member
     
    #5

    Jan 17, 2007, 01:05 AM
    Your going to need to file bankruptcy if your husband doesn't find a better job, Sorry to be so blunt, but you can't continue to live like you used to. I think half of America is going though what your doing. The good thing is in Michigan, I know that if you make less then 80k a year you can still file chapter 7 and don't have to pay anything back, that could take care of the credit cards, personal loans, and brand new cars. I would keep the house you need a place for you and your kids. You definitely don't need a new car, so include it in your bankruptcy and buy a beater. If you know your husband can get another good paying job like he had, maybe refinancing is a way to go, let your house fall behind another payment and pay everything else and then refinance that should buy you a month or two, yeah you'll get collection calls, but 1st party mortgage companies don't start foreclosing until 90 days.(still takes about 6 months to compete at least though Washington Mutual) If you want some more help contact me.

    HOMEOWNERS seeking a mortgage refinance and new home buyers are often told why they do not qualify for certain loan programs from their mortgage company. Top Flite Financial, Inc. prides itself on being able to place almost any home loan, even if you have less than perfect credit. Dealing with the greatest range of mortgage lenders allows us the most flexibility when working with our clients on refinancing mortgages AND home purchase loans.

    Let our experience save you time and money!

    (989) 723-5400 Office
    (989) 277-7610 Cell Phone
    989 723-5410 Fax
    bigcowboy1's Avatar
    bigcowboy1 Posts: 28, Reputation: 1
    New Member
     
    #6

    Feb 23, 2007, 11:43 AM
    Question: I live in Michigan. I make less than 80,000 a year. I want to file bankruptcy. But the medium state income is 49,000 for a family of 2. So how did you come up with 80,000? Sure hope you're right.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Tow vehicles [ 12 Answers ]

I just bought a 2006 Airstream Land Yacht. I have a '05 PT Cruiser automatic transmission car. How can I safely tow this vehicle?

Losing everything [ 17 Answers ]

Here's the thing, I've been with my girlfriend for about two months now and its been a great time but just recently about a month ago I lost three family members in a strange freak accident. That wasn't all. Now my cousins in a comma, and my parents are about to get divorced after an 18 year...

Losing mr right -what should I do? [ 9 Answers ]

OK this is long question but I think the most detail is the better. I'm 33, and have kids. I work full time with drug users. Back at end of may I got a text from a guy I'd met and fancied the pants off asking me out. At that time I was at the end of my relationship with my ex,the kids dad, 6 yrs...

Losing a litter [ 2 Answers ]

Hi everyone, this is my first post and I am sad its under such heart breaking circumstances. My cat Gypsy gave birth to a beautiful litter of 4. They all seemed so healthy and lively then out of the blue one died. A few days later another one faded away. The vet has put the remaining 2 who are...


View more questions Search