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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Unemployment Debt||Date: 3/20/2008 3:18 PM|
|Author: llambe||Number: 269967 of 308881|
Just like to say that I think you should keep paying the CC with money borrowed from others until they can't do so any more BUT ONLY THE CC's. My reason being that otherwise you're going to be racking up all sorts of late payments etc, well over the amount of debt increase paying one from another will get you.
BUT this only applies if you do whatEVER it takes to get the rest of your spending down below your income (not including overtime) especially getting rid of that darn car payment but including eating rice & beans (all 7 days), wearing 10 sweaters, no cable etc. IMO even overtime should go toward CC payments (or emergency fund) only since you apparently can't count on it. Then once DH gets a job you can raise the standards a bit while you pay down the CC's.
Really, it's one thing to say lets wait and see if he's just been out of work a short time but after 6 months its time to make drastic changes!
I definitely sympathize with you though - if my DH was out of work (or myself) I'd be for cutting back big time and DH would be saying it won't be for long :(
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