Will try to make this short. My partner filed bankruptcy Jul ’06. I did not. We have a 2nd mortgage in both our names with HomEq. The original mortgage is in my name. In Aug ’06 I quit receiving statments from HomEq. I called them and said we wanted to continue paying this obligation. I was sent paperwork to sign, I sent it back and I have verification it was received. I received on more bill, then no more.

Since August, I have e-mailed, sent payments, of which I never received notification of payment, other than my cancelled check. I have no idea if it went on my account. They refuse to send me anything. I have called, I have sent registered letters. They say they are looking into it, but never respond back to me. It seems like an elaborate way to charge me late fees, etc., I don’t know, I don’t get statements.

I’ve kept track of all calls, e-mails and everything I’ve sent has been by registered mail. All we want to do is get statments and pay the bill. It shouldn’t be this hard to get them to agree to this. Most people get OUT of trying to pay bills. This is the only organization I’m having difficulties with. Has anyone experienced something similar? It seems just bizarre that I’m having this much trouble trying to pay an obligation. Any advice offered would be greatly appreciated.

Have you contacted the BK lawyer your partner used? Was the 2nd included in the discharge or excluded? It should list the individual debts. You would not want this debt to be included in their filing. Has the BK moved to the liquidation stage? Have you pulled your credit report to see how this debt is being reported? Most mortgages are excluded in BK. Again, the lawyer may shed some light on this.

Personal loans

I am a disabled single parent looking for a legit way to get a personal loan of 7500. I am about to buy a house but they will not also give me this extra bit I need.

I want to pay off my cards and get a car because the house is not in an area with public transportation near the house.

I am about to call the loan officer to withdraw the application for the house loan because it won’t make any sense to have a house and not be able to get anywhere for shopping and schools and medical.

I tried prosper and they were so nasty I left.

My income is 950 and my score is 620 but the bank won’t help me either. Does anyone have any suggestions?

You need to be careful about more debt. Here are a few concepts from the Dave Ramsey’s books Total Money Make Over and Financial Peace University:

Fist step-establish an emergency fund of $500-$1,000.

Second step-create a monthly budget that shows where every $ goes. You also need to stop using credit. The objective here is to reduce your spending and get on a plan to reduce outstanding debt.

I hope this helps.

Credit card debt

What I’m currently doing is I have our credit cards arranged from highest interest rate to lowest and am paying about 5 dollars about the minimums on all but the highest card (figured that would slightly help our credit more than paying the minimums because it will show that we paid more than the minimum due) and then I’ve been putting everything else that we have towards the card with the highest interest rate.

tunnelI’m sure most of us can agree that credit card debt is EVIL!!!!!!!!!!!!!!!!

However, just recognizing that doesn’t make it go away. My husband and I have way too much credit card debt and are making progress on paying it off. What I’m currently doing is I have our credit cards arranged from highest interest rate to lowest and am paying about 5 dollars about the minimums on all but the highest card (figured that would slightly help our credit more than paying the minimums because it will show that we paid more than the minimum due) and then I’ve been putting everything else that we have towards the card with the highest interest rate.

I also routinely call the credit card companies to see if I am eligible for a decrease in APR and often I am and we have done the balance transfer juggle a few times as well.

Is there anything else anyone could share that could work? It just seems like it’s going to take forever to get it paid off. I am very driven though, so that will help. The fact that we are living with family right now and not having to pay rent is helping as well. It just seems like it’s a long dark tunnel.

What I have done in the past and I know I read it in one of the numerous debt books; is if you start with the smallest balance to highest it makes things a little ’emotionally’ easier. If you pay the extra toward that small balance then it is paid off sooner than a large balance; which means all that money goes towards the next one, BUT you also get to see satisfaction sooner that you are actually making a difference. Does that make sense?? I am not sure my thoughts typed out real well, but hopefully you understand that.

It is a long dark tunnel and some people stay in that dark tunnel for a long, long time. Paying loan shark interest , penalty fees etc. The credit card co’s love it! These people are their best customers who they make their most profit from. I’ll get hammered on this group for saying this, but I agree with Harvard Professor Elizabeth Warren that if you can’t pay your debt in a timley manner, then consider filing bankruptcy.

You really can repay your creditors once you are back on your feet! With the price of everything going up, it makes no sense to be held hostage with loan shark interest etc by the CC co’s. You and your family come first! All the extra fees you are paying to the CC Co’s could be put in savings , earning interest for your future.

Prices are not going down. They are getting higher all the time. A CEO of a big corporation who is in trouble doesn’t blink an eye if he or she needs to get the co back on it’s feet and neither should an individual or family.


Wife lost her job……owes her company 20K in back wages. They want paid off on or before Dec. 31, 2007. She has existing medical problems. Has a surgery scheduled for October 18th. I have a house and a house payment, 5 cars, 3 of which are paid off, 1 Harley, which I still owe a small amount on……if I go into bankruptcy Chapter 7. What do I lose? I do not mind parting with 2 cars but want to save my bike. Do I have a chance in hell to do this?!?!?! I am screwed and all I have been doing s working and staying straight in line!!! I believe I am finished!

If you got a good friend. Have him “buy” the bike and put it in his name. As long as you both believe it’s yours, no problemo.

I’ve never heard of having to pay back wages. If she had to quit because of medical conditions you may want to contact a lawyer, there may be stipulations or something that can be done.

My opinion is to sell everything you can. Hey, it’s just stuff. Being able to care for your family is much more important than a dumb bike. I can say dumb bike because I’ve owned 2 harleys, and a bike is just a bike. Remember, you can always fight back and someday buy another one. Do whatever it takes to take care of you wife and family.

Can you explain how someone ends up owing their employer back wages? I’d like to know so this never ends up happening to me?

Here is an article that sums up what is in the Consumer Reports article about credit cards.

USAA scoring highest didn’t surprise me, even though I have never had a credit card with them. I have checking and a savings account with them and customer service is superior. I have never had to wait over three minutes to speak with a rep. Most of the time it’s less than a minute wait. When I banked at BOA I wa sometimes kept on hold for 20 minutes or more!

She was advancing her paychecks and had been for sometime……this I knew nothing about! I guess this is just a bump in the road of life! I still dont wnat to lose my bike!

Another reason to hate Citi… SNEAKY!

They took over Exxon Mobil CC operations too and sent me a notice about it.

I called them and told them I no longer had the Mobil account and I wanted my name and personal info out of their database.

I doubt it was removed though. Once they have you, I don’t think they ever want to let you go.

I hope they don’t go checking into my credit report and plan on sending me one of their credit cards. Every inquiry can result in a lower score. Maybe I am borrowing trouble, but I don’t trust Citi one bit!


what do you think of increasing your mortgage to pay off debts (assuming you have sufficient equity) then starting fresh? In other words borrowing from your equity then start over debt free.

I am not a big fan of borrowing equity from your home, i.e., home equity loans, because if you don’t make the payments on a home equity loan, you can lose your home. If you don’t make your credit card payments, you will not lose your home.

Actually, I just wanted to refinance the total mortgages and start fresh. That way we can file a chapter 7, cure the arreage and not lose our home.

Still, personally, I think it is a very bad idea because…:

1. A mortgage is still a debt… you are still in debt just with a different name.
2. There are costs usually involved with (re) financing, costing you more money.
3. This is a debt that is secured by your HOME, which you could LOSE if you couldn’t pay it back in a timely manner. The one thing you should be most secure with.

You obviously want to deal with debt especially mentally, a way that makes you feel like you’re accomplishing something, so find a way that won’t be so risky. One typical way that makes us feel good and does good is by paying off the smallest debt first, then when paid, adding that entire amount to the next one, paying it off a little faster that way. Still of course, making your regular payments on all debts. If you have extra to put toward debts,, either pay off a small debt or pay it toward your highest interest producing debt.

Really it’s better to pay off the highest interest first but… sometimes the mental encouragement off seeing the small ones paid of is really more beneficial if it makes a difference in motivation. If you go the highest interest route, make sure you keep a record so that you can SEE what you are accomplishing. You could just using percent of debt paid off or pie charts or whatever will work for you.

Just my opinions, but gleaned from ‘experts’. I am a classic example of why this generally does not work. If you do not truly change your lifestyle, destroy all credit cards, lines of credit etc., have a healthy emergency fund, you will wind up right back where you are, only owing more on your house.

Very good points.

I had all my credit card paid off last August. But here I am with $12,000 in credit card debt. I’m sick to my stomach over it.

I’ve been playing with the household budget worksheet and I’m amazed to find out just how much “extra” money I have or should have each month.

I wish I had found this all out a long time ago.
I actually thought I was “budgeting” by tallying all the bills and seeing what was leftover. I always knew approximately what I had left to spend on gas, groceries, etc. But it was all lumped together and gone before I knew what I had spent on. I felt like I never had money to save and never had extra money.

Anyone read the book Debt is Slavery ? It has 5 reviews on Amazon and all are five star. I ordered a used copy for my grown son, but I plan to read it first! 🙂 It’s supposed to be an easy read with less than 100 pages, but filled with a lot of good info. I like a review that mentions the GMM, Great Marketing Machine . That’s everywhere you go… right along side Visa, or is that MC. Oh well, whatever…

Thanks for all your comments. I have been seriously saving and budgeting for about 7 months now so I think I am ready to do this. I do believe though that if you don’t change any old habits you’ll just end up in debt again. My debt happened because after the death of my son I changed my work situation and truthfully didn’t care about my money, bills or much else for a while. I feel like I am finally back on track but unfortunately have to make up for that lost time. I plan to maintain my strict plan of financial recuperation.