Desperate after debt

Hungry_Floor_522 · 2026-07-24T15:02:08+00:00

Hey man. Any update a year later? I’m in about the same situation now as you were. I’m stuck with the house though since it’s underwater and have comparable credit card debt to you.

dnbndnb · 2024-10-18T20:17:12+00:00

Your credit score is now so poor it’s meaningless. There is no reason to try to salvage anything, you should just file for bankruptcy. Wipe the slate clean. Yes, you’ll have no credit cards, but that is likely a positive in your life. Just make sure you don’t go negative on your bank account or pass bad checks as then you’ll get debanked and have a truly serious problem.

It is possible to negotiate with credit card companies. Feel free to DM me if you like on that aspect.

Timely_Froyo1384 · 2024-10-18T14:03:50+00:00

Most credit unions partner with financial counseling services.

Got any family near you that will allow you to mooch off them for a period to fix this?

FUMoney · 2024-10-18T11:29:17+00:00

What can I do?

If it were me, I'd live like a fucking monk. Not joking. I'd cut every fucking thing to the bone, and then I'd start debt snowballing. Paying off either the smallest things first, or, paying off debts that are secured or have recourse back to you. Eliminate the small shit or the most dangerous shit debt.

Wipe out the small stuff. Then, you put all your effort into eliminating the remaining big debts. You can knock out the credit card debt pretty quickly.

If you can live with a sibling in a granny flat rent free, do it. If that's not available, look for a situation where you can rent a room for as cheap as possible. You live small. You live humble. You find a retired couple, elderly person, anyone and tell them you are on a journey of financial independence, you are looking to rent just a bedroom. Come and go quietly, silently. Be like a fucking ghost, neither seen nor heard. And you focus, laserlike, into wiping out debt.

Do whatever you have to, within the bounds of the law, to cut expenses to as close to zero as you can, and eliminate these millstones around your neck.

Expensive car? Dump it, drive a Japanese shitbox for the next five years. Subscriptions? Eliminated. Food? You can live like a king on fruits, vegetables, salad, and other things from supermarkets -- and no, it won't cost a fortune, and you'll really improve your health. In fact, it's the unhealthy shit that's often the most expensive in food stores (also why they have so many fucking coupons and sales for this expensive preprocessed shit laden with sugar).

If you can accomplish this, you can accomplish anything.

Low-Impact-9695 · 2024-10-18T06:56:19+00:00

Don't worry about the credit score. You have a life to set straight and a mind to rest. Credit score will improve.

Most of us got financially crashed during the divorce, one way or another.

Do you have debt charities etc. in your country that would act as a mediator and get your payments sorted out with the creditors without defaulting?

Nigel_Fara · 2024-10-18T05:26:42+00:00

Sounds like you should just let it all go.. In 7 years, it will be off your credit. The forclosure maybe a bit longer.. Stop paying, start squating at your house. You'll get 6 or so months with no mortgage payment before they start eviction proceedings. Stack all your cash. Work your job and try uber or door dash a supplemental income. If you save all the money your kicking into credit cards and mortgage, you should be ok. Youre credit is already fucked..

Title	Desperate after debt
Author	staizer
Upvotes	9
Comments	9
Date	October 18, 2024 4:51 AM UTC (1 year ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1g6abo7/desperate_after_debt/
Archive Link	https://theredarchive.com/r/Divorce_Men/desperate-after-debt.1532836 https://theredarchive.com/post/1532836

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