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Another Settlement; what to do about the car?

June 1st, 2008 at 03:48 pm

I just settled another credit card and tomorrow I'm suppose to finish the next one. These cards are both with the same company and have been very hard to deal with. After I have them both "settled" I will share this experience. I did settle with them on one card before chargeoff, but they did not share their end of the bargain, which shouldn't surprise me after all I have been through with this company. I will give further information on this and how I intend to deal with it after they are done with me and I am done with them.

I have been trying very hard to save more money to finish this up, I also had a yard sale. However, my car broke down and it's eight years old, the muffler broke which was going to be very expensive but my mechanic figured out a way to fix it for less, would have been $1,800 but instead cost me $850, but now my clutch is going and after a long winter, the paint is starting to peel off my front fenders, so it needs to be touched up. I really need to trade the car with the cost of a clutch at $1,000, paint at $1,000 and if I have to have a maintenance kit it will be another $1,500 and the motor in my automatic window on the driver side is going too and sometimes the window won't roll up. The car is only worth about $4,700 and I owe $5,200 - what would you do? I don't have the money to trade nor do I have the money to fix it? My DH says he will trade it for me if we need to, but I don't want any more debt.

My house is on the market and we thought we had an interested party, but he changed his mind for now. He will come here mid July and look at the house again. I hope to have a contract on it before then. If I get a contract on it I am hoping to make enough money to pay my IRS tax implications from debt settlement. Also, our rental property needs a new window and a wood stove before winter. We are not paying the predicted $5.00 a gallon for oil this year and are getting a "wood pellet" stove. It should pay for itself the first year and it is eco-friendly.

So much going on right now, my daughter is getting married and there is major expense with my dress, DH's suit and my sons Tux (he's in the wedding). It is not a good time for me to be having these problems; this is my only daughter and her father is deceased, so I'm it.

My son had his senior prom so I had the tux expense, tickets and his dinner. His father didn't offer to help and he has a lot more money than I do. This is the way it has been for years, through my kids college and etc., I'm always it, their father doesn't feel the need to contribute much at all and won't help with any of the kids car expense, entertainment and etc.

We have graduation as well, but this shouldn't be too bad. I can just have a BBQ here after the ceremony. When it rains it pours.

I want so badly to end this debt settlement but with all these extra expenses I'm really going to have to get creative. I have put together some personal possessions that I could try to sell; a ring, office equipment, rototiller - I'm working on it.

2 Responses to “Another Settlement; what to do about the car?”

  1. luxlivingfrugalis Says:

    Hang in - sounds like a lot going on!

    Can you rent your dress or get it at an upscale consignment shop?

  2. lost in debt Says:

    I was able to find a $300 dress on ebay from a bridal shop floor model for $80 - it will due and looks beautiful.

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