finances thread

[keaty]

I'm just really getting into the whole couponing thing. I've been slowly doing it for certain things but now I'm really getting into it. I just did a chat on fb on Tuesday for beginning couponing and it was really helpful for me to get more organized. With me it just me and the kids and my debt(Student Loans-Graduated Dec 16- and Medical Bills-which they keep calling me every so often to start making payments). I know how much is coming in and how much is going out which I am trying to curb my spending on clothes and things for the kids(with deadbeats I think I need to make up for that). Its hard and with me looking for a job and waiting to hear if my friend who I worked for during school for class credit will be able to hire me on paid its hard. I also have to make a road trip in 2 weeks to Iowa City(first of many) for Taylor to get checked out at the U of I for possible surgery so I'm having to factor in alot more in gas for these trips. I'm trying to get things straight with everything but its hard when it is just you doing it.

[harper35]

But as a pp said, with our income as it is, there was no way we were going to be able to realistically get out of debt anytime soon, so we filed for bankruptcy in Nov., had our meeting of creditors and now we are waiting to see if they want to collect any of our assests, namely our business, to repay our creditors. We will know for sure by the end of Feb, and we are keeping our fingers crossed that they won't ask us for it.

But even with filing for bankruptcy, we still have over $45,000 in student loans and $19,000 in dh's car loan left to repay. So now we are starting fresh, and it feels good, we have learned quite a bit in the last 6 or 7 years, and we are now ready to make smart decisions with our $. It is going to be a struggle for a while, but the payoff will be so worth it.

I'm sorry you've had to go through a bankruptcy! But I'm glad that it's had such a positive impact on your lives! In our case, we actually make little enough that we stand a fair chance of being able to get rid of the student debt too. And we don't have any assets. We just have to come up with the money to get the paperwork rolling, and i have no idea how we'll manage that.

[monarn]

I'm sorry you've had to go through a bankruptcy! But I'm glad that it's had such a positive impact on your lives! In our case, we actually make little enough that we stand a fair chance of being able to get rid of the student debt too. And we don't have any assets. We just have to come up with the money to get the paperwork rolling, and i have no idea how we'll manage that.

yeah, it's tough to come up wth all this $ when you have none. We had a good summer and saved for it. As far as I know, and what more than one lawyer has told us is that federal student loans are not dischargeable, just FYI.

[harper35]

As far as I know, and what more than one lawyer has told us is that federal student loans are not dischargeable, just FYI.

That's what we heard too, but the lawyer we saw about it said that there is this paperwork you can do in addition to the actual bankruptcy to ask the federal government to discharge student debt. If approved, the government does reserve the right to discharge some or all of it at their discretion. Normally, no one does it because it's usually a waste of time and money. However, because our gross income last year was less than $10k and our student debts are over 100k, the lawyer thought it is actually worth a try.

[keaty]

My parents have actually filed/went through bankruptcy twice now once in the 80's when I was about 4 when they lost their business and the farm and then this past summer. Its a long process and makes things really suck for a long time afterwards but it can help get rid of debt. Student loans can not be forgiven. It even said that in my paperwork for exit counseling for my student loans before I graduated and my dad said that its not allowed either. Hopefully this lawyer your going through isnt lying to you go get more money out of you.

[harper35]

My parents have actually filed/went through bankruptcy twice now once in the 80's when I was about 4 when they lost their business and the farm and then this past summer. Its a long process and makes things really suck for a long time afterwards but it can help get rid of debt. Student loans can not be forgiven. It even said that in my paperwork for exit counseling for my student loans before I graduated and my dad said that its not allowed either. Hopefully this lawyer your going through isnt lying to you go get more money out of you.

At this point, it doesn't really matter anyway. It's not like we can afford to start the bankruptcy, and we probably won't be able to for at least several months.

[lcmancini]

I'm just so excited. By selling all our vehicles, and getting into a small car, it's not going to fit all three kiddo's. Yesterdy DH and I got on to see if there's any older vehicles out there that we might be able to buy when we get our tax return. We're expecting a decent return, and it looks like we should be able to get an older suv for me to drive the kids!!! I'm so happy!!! That's our only big purchase, we've got everything else, so I'm so happy that we're not going to have to get out of our "pay off" stage, just reassess our budget. YAY!!

[Nell4Him]

My car is a cross-over SUV and it's HUMONGOUS.... but still won't fit three car seats in the back. We bought it thinking there was a third row seat option that we could add later, as it turns out, they'd have to re-work the frame to put it in.

I have to fit a no-back booster (Jacob's gonna be 7, and is still only 4'3", OR law is 8 years or 4'9"), a high-back booster (for Daniel) and an infant carry seat with base. No way it's all gonna fit in one row.

Since we OWN my car, we are gonna get it priced for installing the 3rd row. DH would rather pay a couple grand up front (we'd borrow most from family) than to start having a car payment again.

[monarn]

My car is a cross-over SUV and it's HUMONGOUS.... but still won't fit three car seats in the back. We bought it thinking there was a third row seat option that we could add later, as it turns out, they'd have to re-work the frame to put it in.

I have to fit a no-back booster (Jacob's gonna be 7, and is still only 4'3", OR law is 8 years or 4'9"), a high-back booster (for Daniel) and an infant carry seat with base. No way it's all gonna fit in one row.

Since we OWN my car, we are gonna get it priced for installing the 3rd row. DH would rather pay a couple grand up front (we'd borrow most from family) than to start having a car payment again.

Look for the Sunshine radian car seats, I think that's what they are called. They are much more narrow compared to regular seats. I have seen pics where people have 3 across the back seat of a Jetta (what I have). It's way cheaper to get a couple of car seats than to re configure your whole car, especially if Jacob's only going to need a seat for another year or so.

[monarn]

here's a link to the seat
http://www.amazon.com/Sunshine-Kids-.../dp/B000G7YM0Q

I think they make infant seats too.