Current Events > Declaring bankruptcy... I'm probably gonna have to do it...

(+) Yeah! (+)

Took out a loan a while back when I was working. Payments were going great, still had wiggle room in my budget.

Went on medical leave from work about 6 months later, was still getting paid from government sickness benefits. Still making payments, everything all good still.

Benefits abruptly end 2 months ago, manage to qualify for income assistance just to be able to pay rent and cover basic expenses.

No end in sight, I've officially been let go from my job, my mental state is utter trash, and I can't make a single payment.

Sorry. Blogfaqs.

Just don't know where I'm going for now

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Can you work from home?

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I don't really have any qualifications beyond my bus license.

It's something I have looked into

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How much, how much you got, what kind of loan, how far are you behind?

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Personal loan, I owe about 2100 on it still, behind 3 months, come the first.

I have -120 in my account due to fees and returned payment charges.

I get 860 a month, rent is 520, groceries for a month is 100, phone is 55, internet is 85, and my monthly payment is 210

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Hope you get better and never give up.
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I haven't lost to my demons yet after literal decades of fighting

Just lost in a fog right now

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If you can get $1000 by begging, stealing, or cheating, you can probably pay it off if you communicate with their collectors.

They get pennies for anything that goes to collections

Try a call center from home job or something

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https://youtu.be/C-m3RtoguAQ?t=64

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I dont get it

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u should try freedom debt relief, and see what they can do to help u out. I did it and I had 3 loans 2 from online payday loans and one from a credit union. FDR took care of them and settled for 40% of what I owed.

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Do you have any family that can help?

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Dat_Cracka_Jax posted...

Do you have any family that can help?

My family literally just paid my uncle the last 1400 I owed him for the car I bought from him.

Which was also going well until the sickness benefits ended

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AnimeGokuIAM posted...

u should try freedom debt relief, and see what they can do to help u out. I did it and I had 3 loans 2 from online payday loans and one from a credit union. FDR took care of them and settled for 40% of what I owed.

How well does this work for Canada

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yeah I'd get with a debt relief program. it might seem insurmountable, but a few grand is something you can negotiate and chip away.

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Well the good news is, it's "Only" $2100, not easy, but not a mountain either.

I'd exhaust all other options before doing something as drastic as bankruptcy.

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Yeah.

I wonder if I could ask like three friends if I could borrow 750 and pay back like 25 bucks a month each

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TerrifyingRei posted...

Yeah.

I wonder if I could ask like three friends if I could borrow 750 and pay back like 25 bucks a month each

Yeah, ask some close folks for help. 2100 doesn't sound worth declaring bankruptcy. Course you could try to buy cheaper food and get a cheaper internet plan or something. Just cut where you can


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I buy ramen in bulk, milk, cereal and eggs.

I know how to make my food last

Unfortunately, Shaw can charge whatever the fuck they want, and if I went lower, my internet would pretty much be unusable.

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Only $2,100? Id almost give you that in crypto

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Can you sell anything?

I'm telling ya, they'll settle for $1000 if they think you're gonna fall through. They'll make like $50 selling your loan to a debt collector

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TerrifyingRei posted...

I buy ramen in bulk, milk, cereal and eggs.

I know how to make my food last

Unfortunately, Shaw can charge whatever the fuck they want, and if I went lower, my internet would pretty much be unusable.

What would the lower internet be

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Not for the numbers I need beyond my car. Which i will need in the near future, though tossing insurance costs into the mix is gonna be a thing

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Smackems posted...

What would the lower internet be

If I wanted to make a meaningful difference in my internet bill, I would be getting 10Mbps, which would actually translate to 3-5.

And that would only be 20 bucks less

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TerrifyingRei posted...

Personal loan, I owe about 2100 on it still, behind 3 months, come the first.

I have -120 in my account due to fees and returned payment charges.

I get 860 a month, rent is 520, groceries for a month is 100, phone is 55, internet is 85, and my monthly payment is 210

The bankruptcy itself will cost you around $1800 or more, so you'd pretty much break even to get rid of the loan.

Bankruptcy is for people who owe way more than that.

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Ok

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metallica846 posted...

Probably cost you close to $2100 to declare bankruptcy.

Probably more, but 2100 isnt much even if it hits your credit. Worst case situation is that it defaults and you get racked with phone calls over it. Then when you're back on your feet you pay it off.

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I4NRulez posted...

Probably more, but 2100 isnt much even if it hits your credit. Worst case situation is that it defaults and you get racked with phone calls over it. Then when you're back on your feet you pay it off.

I'm already getting railed by phone calls and I'm very tired of explaining my situation to them.

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My brother owed $6K on his credit card when he was out of work. When he started working again I guess he thought it would go away and they garnished his wages until it was paid off.

His credit's probably still messed up but it wasn't the end of the world. When you file bankruptcy they require you to make a list of all your assets. If you have enough possessions to pay off the debt they'll take your shit. The judge will also ask if you sold anything or transferred any money recently.

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So what do I do if I can't get help from friends?

Just ignore the calls and deal with it later?

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TerrifyingRei posted...

If I wanted to make a meaningful difference in my internet bill, I would be getting 10Mbps, which would actually translate to 3-5.

And that would only be 20 bucks less

That's twice as fast as mine and i do fine. But idk

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Fuck it, Ill send you $2,100 in crypto tomorrow. If youre interested, set up an account on an exchange like Coinbase, and well go from there.

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I really cant tell what that means, I've been ignoring the whole crypto thing mostly

I do have a MOGO account set up

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That is really kind of you @EndOfDiscOne

Yeag TC I dont think its worth to declare bankrupt over $2100, when I was 16 I was a dishwasher and got free food at the end of my shift so maybe ask around if you can get a job at a restaurant being a dishwasher. Then later you can ask to help prep cook and prepare foos

Also CashApp takes cryptocurrency too if you have that

does Paypal? I have paypal

and honestly i'm thinking of insuring my car and delivering pizzas in the meantime

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No but making a Coinbase is as easy as making a PayPal

coinbase keeps telling me it can't verify my identity

scratch that i think i got it to work

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TerrifyingRei posted...

coinbase keeps telling me it can't verify my identity

scratch that i think i got it to work

Ill take a look at my holdings tomorrow and decide which coin I want to send. It will probably be either ETH, BTC, or LINK.

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SomeLikeItHoth posted...

If you havent done shit to improve your life over the past six months you have no one to blame but yourself.

Thanks, champ, for the obvious.

Working on it is a process for me. I am working on it.

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I reported you Hoth

coinbase is set up properly now.

gonna look into Dominos delivery now, see what sort of answers i can get.

i don't think i'm mentally ready for full-time work, but i do love driving, so that's a good job, right?

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Yeah man that is really good

Don't worry man, you gotta do what you gotta do. This will all be in the past someday.

Cocytus posted...

Don't worry man, you gotta do what you gotta do. This will all be in the past someday.

that's what my therapist keeps telling me.

it's not the only thing they tell me, which is why I keep going.

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TerrifyingRei posted...

that's what my therapist keeps telling me.

it's not the only thing they tell me, which is why I keep going.

Well it's true. You're probably suffering right now. It's not hard to see why. But it will run it's course, and you'll still be standing.

TerrifyingRei posted...

Personal loan, I owe about 2100 on it still, behind 3 months, come the first.

I have -120 in my account due to fees and returned payment charges.

I get 860 a month, rent is 520, groceries for a month is 100, phone is 55, internet is 85, and my monthly payment is 210

If it's just 2100 see about starting a GoFundMe and checking to see if you can get covered. That's not a huge amount of money so it might be manageable.

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TerrifyingRei posted...

coinbase is set up properly now.

gonna look into Dominos delivery now, see what sort of answers i can get.

i don't think i'm mentally ready for full-time work, but i do love driving, so that's a good job, right?

Ever look into a paper route? Just you and your car delivering papers. No boss breathing down your back during the job. Course learning the route and customer's wants are a whole thing at first but you get used to it

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