Struggling Family in Economy

[AnnaRaven]

If they drop the mortgage interest deduction like they have discussed, then we will stop making payments and save the payments until we get evicted. We will also stop paying on credit cards. After that it will be off to BK court. Our credit will be shot anyway so who cares. I'll find a landlord that needs a renter and pay 1 year in advance with the money I've saved.

I can't see how an honest person could do this. If you declare bankruptcy, you have to declare all your assets, which go to settling the debts. You can't go pay a year's rent with money you've saved unless you lie in the bankruptcy court about your assets.

1. stop paying mortgage and pay only the bare minimum on cc, often enough to keep from bankruptcy court.
2. get evicted.
3. get a rental unit and pay up front.
4. stop paying credit cards.
5. declare bankruptcy and go to court.

You can save a lot of money from not making mortgage payments while still paying the minimum. And they won't have to lie about assets they don't have - since they already paid the landlord the rent...

 

[Dunkopf]

I wouldn't do anything illegal. It would all be discussed with a BK lawyer before I did anything. It's called survival mode. I have 5 kids to take care of. I could give a hoot about the moral part with 5 kids to feed and house. I don't owe money to anyone except very large corporations. I'm not terribly worried about them as I know they aren't too worried about me.

At this time it's a moot point. I'm very good at my job and my company is stable. I'm just talking worse case scenario. I won't put my family on the street because of some obligation

 

[Wifezilla]

Dave Ramsey advocates something similar. Take care of the family first. Roof over your head, food on the table, water, gas, and electric. Make arrangements for payments if your debtors will cooperate. If not, bankruptcy. Of course his recommended first line of defense is not to get in to debt in the first place

 

[FarmerChick]

that's interesting

how much would your morals fly out the winter when true financial troubles hit?

would ya "bank" money in the mattress and tell no one about that stash if declaring bankruptcy etc.

I bet it is done all the time--hidden assets.....hmmmm

 

[Jared77]

Its not about being unethical its about survival.

My brothers had to do this. His BK lawyer told him to do that. Save the mortage payment that he was struggling to make to use it to secure his car so he could get to work, and use the rest to build up a security deposit.

Why throw good money after bad on an investment you can't keep up? Your emergency fund or your savings is only going to go so far....why lose all that? Then how are you supposed to put down a security deposit if you've already spent it on trying to keep the house you've just lost? Its exactly that survival mode. You've got X amount of dollars and you need to spend them the smartest way you can.

 

[kitchwitch]

The mentality of these people is ridiculous. When your 9 YEAR OLD is calling the roof you put over her head "such a crappy apartment" there's an issue. Not to mention, why do people think children each need their own separate space? My brother and I shared a room until I hit puberty and once we moved into where my parents live now, we shared the attic with only a curtain between our shared space. Worked out well for us. A smaller home could have worked out well for them as well. Speaking of which, it's called birth control! When you have no education and are working retail, what goes through your head to make you think "Oh gee golly, now would be a PERFECT time to have kids!"

Not to mention, you're living off of unemployment in an area where you're not going to be getting work anytime soon. Mom has no education and was darn lucky to even be hired anywhere to begin with, which probably explains why she can't find work now.

I have not one shred of pity for these people. They are idiots repeatedly making stupid decisions.

 

[RudeKittyLuvsTesla]

Issue #1 for me:
On a recent morning, she was yelling at Logan to take a shower when the car insurance company called. Mounds of dirty and clean clothes teetered near the laundry room, stacks of textbooks decorated the master bedroom....

Mounds of dirty and clean clothes/books....pick them up. You're never going to feel better about yourself if you let everything go. IMO, your surroundings have an impact on your feelings.


Do I feel badly for this family? Absolutely. I wouldn't wish this on anyone.

Do I feel sorry for her? No. Pick yourself up and do something about it.

"

AMEN. I saw this story and commented on it in yahoo. I had a botched surgery 2 years ago and lost my job because I can't wear a shoe. As a waitress, I have to be able to wear a shoe to work for sanitary and safety reasons.. so I understand losing my job. My husband is unable to work and has been on disability since he was a child. We live off that, the savings I had accrued while working, and now supplement with a garden and any other frugal tip I can glean. We don't ask food stamps- we grow our own. We don't ask energy assistance, we turn the electronics off. The only reason we have internet and a phone, is because it is included in our rent. My landlord is lovely in that he lets me do anything I want with the yard, so I have dug it up and made garden space. We camp instead of staying in motels. We still are able to take vacation- we plan an event and share the trip with like minded pals. We play board games- it has made our family closer.
THIS woman sitting on her rump while her house is a pig sty should be ashamed. Schools offer free breakfast and lunch- even during spring and summer breaks. I totally agree that if the house were clean, she would immediately feel a bit brighter outlook. I look at people like this and wonder how they afford cell phones, manicures, pizza and beer... It is her children I feel for. She is teaching them to wallow and feel bad until someone puts you on the news and the good people donate till you have too much.

 

[Wifezilla]

 

[mlynd]

Tho I agree with u not all schools offer free lunch during the summer months I know this cause I work in the kitchen at our local school and we don't offer that even tho we have summer school