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Author: shortcd Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: in debt and over limit - help! Date: 7/13/2001 4:50 PM
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Well, I didn't want to get into it cause it's kind of long, but I'll explain as short and painlessly as possible. Here goes:

My fiance owns an auto detailing business. (I am 21 and he is 24 btw) When he started the business in 99, he had bad credit and couldn't get a loan from the bank alone, and SBA had too long and drawn out of a process. So we funded most of his start up expenses on my cards. Last year, he did get a loan, but most of it was needed to cover new expenses and debts, and very little of it was used to pay on my cards. So that's how it started.

Now, the problem is that I am stuck in a crappy situation because of school. I am going to graduate in May and and the program I am studying requires 2 co-op work experiences, 1 semester long each. Well, the one I worked in Jan. was awesome..I was getting paid $14/hr as an intern. I was planning on keeping that one for the summer term also, but the company reorganized and terminated all temp positions (and others too, both of my supervisors were laid off). Now the job I have pays $7/hr (HOW IN THE WORLD CAN ONE SURVIVE A 50% PAY CUT!!??) and it is killing me. I have to drive an hour each way every day, and because of this, and other personal commitments/activities, I have virtually no time to have a part time job, which I desperately want and need.

My fiance's business is doing well, the only thing is we could make much more money if I could work for him instead of where I'm at. Also, it is not steady income, since that type of business greatly relies on the weather. So he makes enough (usually between 3-5000/month) to pay most of his bills, but has only about 300/mo left to help me with our house expenses, etc. Here is a breakdown of most of my monthly expenses.

Mortgage - $625
Car -240 (need to pay the $$ for a dependable one since I have a long commute)
Gas - 25
Electric - 150
Phone - 30
Cable - 50 (i know, I'm cancelling it next week)
Cell Phone - 20 (cancelling that too)
Gas for driving - 20/wk

We also eat out alot cause I don't have enough at any one time to spend a bunch at once for groceries. Probably about 30 a week for eating out.

We also have a total of about 1000 in past due utilities/medical/unpaid bills (ongoing...not per month) which I try to pay on as much as I can.

And of course there are the cards, on which minimum payments add up to $300.

I've tried to cut in as many ways as I can, and have been searching desperately for work at home, freelance, etc, but we still have the problems.

There you go...told you it was long!


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