Truth hurts

[Beniah]

I can understand and respect your thoughts. But we live in the most expensive city/state in the country.

Your current financial situation has nothing to do with you living in the most expensive city in the country. It has everything to do with poor financial management. The majority of people who live in this country earn much less than 6 figures and never have to declare bankruptcy.

Your issue is that you want to live in an expensive house, drive expensive cars, and send your kid to an expensive private school in the most expensive city in the country. That is the issue.

I recommend reading some of Dave Ramsey's material for some solid long-term financial advice.

 

[ImaginaryDay]

Your current financial situation has nothing to do with you living in the most expensive city in the country. It has everything to do with poor financial management. The majority of people who live in this country earn much less than 6 figures and never have to declare bankruptcy.

Your issue is that you want to live in an expensive house, drive expensive cars, and send your kid to an expensive private school in the most expensive city in the country. That is the issue.

I recommend reading some of Dave Ramsey's material for some solid long-term financial advice.

^^^^^ What he said! IMHO, bankruptcy is for those who are bankrupt, not for those who have manageable debt, but refuse to do anything about it (i.e. you and your husband).

 

[LinkH]

I've heard Dave Ramsey on the radio, too. I think he'd be very good for you two. You could buy one of his books or some of his training material.

Crown financial is another good place to go. Sometimes churches will offer some of their training. Your income doesn't need to change. You two need to change.

Btw, why don't you talk to your husband about getting you an older car and letting him keep his. he may feel guilty if you both decide to do that, and then change his car out, too. If you have the same lease company, you'd need to negotiate them together. If there is a possibility that they could give you a cheaper lease on something else that would make your budget work, and the alternative is your going bankrupt, they might work with you.

I think you should go down there together and start off saying you are looking into bankruptcy, that you can't afford the cars, and want out of the lease, and ask what they can do for you.

 

[mkgal1]

HM....your situation is overwhelming just reading about....I can only imagine how overwhelmed you must feel.....and how you must not even know WHERE to begin in order to untangle this mess.

Like Stan said.....your H really does seem more like a detriment than a help to find a solution. If I were you.....I would just carry that into the future....knowing that you can't rely on him or his parents (or their promises). In the future.....I would only obligate myself to what I could personally pay for (cars.....rent.....education....etc).


For now......I understand how it wouldn't really be of help financially to try to get out of leases.....but, I wonder if the school would be willing to take what you can pay now (or did you pay for the full year?) and have a balance owing for when you have a different home (with far less lease pmt). Maybe the finance companies would be willing to re-work the lease.....maybe carry it out further, with lower pmts? I would just try to get all of the companies involved to try to work something out that would still get them their $$....just in manageable payments. I imagine they would rather have the loan/debt paid.....instead of you defaulting (bankruptcy).

Also.....Dr. Henry Cloud talks about "playing the movie" when problem-solving. Let's say you *did* file bankruptcy......that takes a while (from what I understand). Doesn't that have to be approved by a judge? Won't that mean time/effort spent in court (taking you away from your child even more). IMO.....that could easily be time wasted.

 

[Helpme22]

I called allied financial. They won't budge and said they would sue if I fall into repossession.

And tonight he said he had to work late. I said I would use my dinner break to watch our son. (I work til midnight tonight) and I called him when he said he'd be home. No answer. He just called and said he is just leaving. I was supposed to be back at work 45 minutes ago. I'm going to be total 1:45 min late to work.

He said "he lost track of time".