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  #1  
October 1st, 2007, 07:30 AM
dzine21's Avatar Platinum Supermommy
Join Date: Feb 2006
Location: Mid USA/Corn fields
Posts: 6,030
Are you around? Could you help me with a budget? I need to figure something out.

If anyone has any info on unemployment or how to deal with CCs please let me know. DH lost his job. I want to keep our credit good, so I need to pay something. Can we just call them? Please help.
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<div align="center">My baby girl, Jillian Autumn, is due in December!


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  #2  
October 1st, 2007, 07:52 AM
MandiK's Avatar Platinum Supermommy
Join Date: Nov 2006
Location: Among the trees and stars, the drum beat never fades ...
Posts: 8,054
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Did you post on Financial? We can run a budget for you in no time. Jess hangs out there too, or you can PM her directly if you only want her to look at it. I'm sorry about the job loss.
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Definition (Webster's 2006) of "MandiK":
A 20something, graduate student, college prof, tree hugging, time managing, coupon addicted, cosmetic selling, dirt worshipping, girl who is in love with Ben and welcomed Sofie Grace on 1/31/11.
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  #3  
October 1st, 2007, 07:56 AM
Platinum Supermommy
Join Date: Dec 2006
Location: Southern Indiana
Posts: 8,066
First of all, I'm sorry about your DH's job. Was it unexpected?

Secondly, yes you can call them, let them know the situation and work out possibly getting a lower minimum payment. I don't suppose you had insurance on any of them (I never get it, so I assume noone else does either)? You know where you pay an extra 25c a month or so and get insurance in case you're disabled, lose your job, etc and it will pick up the min payments for you for 3-6 months.

They will work with you as they will want their money. The only thing to watch out for though is they may tell you they have to put you in "hardship status" to lower your minimum payment which I think prevents you from putting anything else on them and also reflects on your credit score.

Would it be completely impossible to make the minimum payments with your current situation? If not, try to do that without alerting them but DO call and ask them to lower your interest rate. I always say something like "Well I could transfer my balance to one of the many 0% offers I've been getting but I'd like to stay with you, what can you do for me?"
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  #4  
October 1st, 2007, 03:08 PM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
Posts: 16,959
I'm here, finally, lol. Dh got paid today, so I've been shopping all morning!

I've done the unemployment thing, and it was so hard! Honestly, we played the card transfer game to keep our credit sparkling. Open new credit card, transfer all your balances to it, then do a "balance transfer" for a small amount each month from different credit cards to make the big payment. Sounds confusing, so let me give an example.

You have 4 credit cards with balances.
Card A, min. payment $25
Card B, minimum payment $150
Card C, minimum payment $50
Card D, minimum payment $60

Open a new card and transfer all those balances to it. This is card E, and has a minimum payment of $250.

Month 1, use Card A (or whichever one has no transfer fees or the best rate) to transfer $250 to card E. That covers the minimum payment for this month.

Month 2, use card B (or again, whichever one offers no transfer fees) to transfer $250 to card E, and $250 to card A (paying it off).

Month 3, use card C to transfer $250 to card E and $500 to card B.

Month 4, use card D to transfer $250 to card E and $750 to card C.

Then start over again, rotating thru. Hopefully you won't even have to do it that long. I did it for 9 months! Obviously, pay whatever you can during that time, make as many cutbacks as you can (most ppl can live without cable, eating out, etc. for a few months during times of unemployment), and you'll catch up when you can!

Hang in there honey. If you want me to take a closer look at your budget, pm me.
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  #5  
October 1st, 2007, 07:56 PM
CBMS
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I had nothing to add other than a and to let you know that in times of desperation, I can feed the five of us on less than 100/month... (June was 40 bucks!) You may have to cut corners, but you can do it.
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  #6  
October 2nd, 2007, 08:06 PM
Platinum Supermommy
Join Date: Oct 2006
Posts: 32,940
I'm sorry you are going through this!
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  #7  
October 3rd, 2007, 06:37 AM
dzine21's Avatar Platinum Supermommy
Join Date: Feb 2006
Location: Mid USA/Corn fields
Posts: 6,030
Thanks for the support ladies! A huge thank you to those helping me out!
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<div align="center">My baby girl, Jillian Autumn, is due in December!


</div>
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