You might qualify for foodstamps. There is a common belief that you have to be absolutely dirt poor to qualify, but that’s not true. You can qualify if you’re making money but not making a lot. Chances are if you’re on unemployment, you’re not making a lot and you probably qualify. It’s nothing to be ashamed of and it will save you lots of money! I know in Maryland, they give you this card that is a lot like a credit/debit card. So people behind you in line won’t even know you’re using a food stamp card.
One thing people overlook is temp agency positions. You can do simple tasks and make more than you might think. They can get you projects pretty quickly and it’s a good way to make some “in the meantime” money until you get a permanent job.
These won’t solve 100% of your problems, but it’s a good start.
GOOD LUCK. I know this is not an easy thing to go through!
Filing bankruptcy is not the worst thing in the world. A lot of people think your life is over if you have to file. Go talk to a credit counseling bureau or bankruptcy lawyer to find out your options. If you do need to file it is only on your credit score for 7 years and you can slowly build it back up by using a credit card and paying on it on time every month. I know people that did file and they were able to get a new car in 3 years without an outrageous payment.
You could go to a credit counselor to arrange for the combining of debts into one bill. Or if you know you are really in debt up to your eyeballs and even one bill won’t hack it, then stop paying altogether and use cash for everything, which is the intelligent way to go (cash) in your position. The trail of bad credit will only go for 7 years and you can start over completely then. Many, many Americans are doing the same thing out of sheer necessity. Our economy *****.
I went through a divorce a year ago where I absorbed all of my ex-wife’s debt ($15,000) while she got all of the assets. I considered filing for bankruptcy, but decided against it. Here’s the way I started dealing with my debt. First, if you have a loan or credit card, call the bank and explain your situation. These businesses want their money and will usually work with you to avoid losing out completely. That should lower how much is due each month until you can start getting a regular paycheck. Next, with what you can pay, pay only the minimum on everything but the credit card/loan with the highest interest rate. Once that’s paid off, go to the next highest. Depending on how much you owe, this could take a long time, but it can be done. In a situation similar to yours, my bank floated me a personal loan, based on my solid relationship with them. It was a $4,000 loan that covered my utility bills until I got a job. Finally, most of us Americans (which I assume you to be) spend incredible amounts of money eating at McDonald’s and similar fast food joints. Shopping for food you can prepare yourself will save you money, unless you buy massive amounts of frozen dinners.
My bank also offers free financial advise, which I used to help develop my plan to pay off my debt while avoiding becoming homeless. Check with your bank to see whether they offer similar advise. Let the experts tell you how to proceed and you’ll be surprised at what you can do with what little you have.
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May 8th, 2010 at 10:01 pm
Get a job or two – Don’t spend any money.