2 grand? You got it?

What type of debts is she holding?

[randallscott35]

Originally Posted by Coach Pants

What type of debts is she holding?

Let's see. Credit card. Behind on mortgage already. Slightly underwater on the home loan also. Not sure what else until I meet with her tomorrow.

Well she needs to stop paying the credit card bills and save her home, if possible.

[randallscott35]

Originally Posted by Coach Pants

Well she needs to stop paying the credit card bills and save her home, if possible.

Absolutely on the credit card. Like 10 grand there and they stopped the interest for a year for her but now they want to run it again. So I'm going to tell her to tell them to either make a deal or she goes bankrupt and they get nothing. As for the house, I say she should walk anyway. They can rent, they have no retirement savings and odds are housing hasn't bottomed.

[MaTH716]

Originally Posted by randallscott35

Absolutely on the credit card. Like 10 grand there and they stopped the interest for a year for her but now they want to run it again. So I'm going to tell her to tell them to either make a deal or she goes bankrupt and they get nothing. As for the house, I say she should walk anyway. They can rent, they have no retirement savings and odds are housing hasn't bottomed.

Really when you think of it, 10k in credit cards really isn't that bad. I'm sure that most of the charges are just day to day necessities. Food, Gas and Clothing for the kids, it just adds up. God forbid, someone gets hurt, needs dental and doesn't have adequate insurance or even have some sort of car trouble. People are just sinking.
My wife and I discuss it all the time (plus she talks to all her friends), it seems like many people are in the same boat and are heading down these same type of waters that your friend is in right now. It really is scary times.

[randallscott35]

Originally Posted by MaTH716

Really when you think of it, 10k in credit cards really isn't that bad. I'm sure that most of the charges are just day to day necessities. Food, Gas and Clothing for the kids, it just adds up. God forbid, someone gets hurt, needs dental and doesn't have adequate insurance or even have some sort of car trouble. People are just sinking.
My wife and I discuss it all the time (plus she talks to all her friends), it seems like many people are in the same boat and are heading down these same type of waters that your friend is in right now. It really is scary times.

And yet people say the recession ended 2 years ago and good times lie ahead. It is more like 1932 before the cliff

[randallscott35]

Math, I expect to meet you at Monmouth this summer. I'll let you know when I will be down.

[MaTH716]

Originally Posted by randallscott35

And yet people say the recession ended 2 years ago and good times lie ahead. It is more like 1932 before the cliff

It all starts and ends up with employment.

The people that have jobs haven't gotten raises in years that coincide with the cost of living.

The people who don't have a job, just can't find one. Let alone find a decent paying one.