As for finding a replacement for your fix. That might be tough but definitely necessary.... just make sure it isn't more dangerous or costly than what you are hooked on now. 
I'm in serious financial trouble-any thoughts
- Thread starter chillaxin
- Start date
65K isn't much, when my business failed I was carrying five times that amount. But I was willing to live in Parkdale and eat Kraft Dinners.
Declaring bankruptcy is a cowards way out; in the short run you'll get some breathing room, in the long run you'll be eating blue cheese out of your banker's ass.
First order of business - beat your addiction.
http://www.camh.com/
Declaring bankruptcy is a cowards way out; in the short run you'll get some breathing room, in the long run you'll be eating blue cheese out of your banker's ass.
First order of business - beat your addiction.
http://www.camh.com/
guys, let's not forget that he is admitting of having an addictive personality. consolidating onto lower interest rate loans or line of credits is a no-brainer for most and is usually good advice, but i've seen far too many re-max out their credit cards as soon as they free up some debt. chillaxin, i don't know if this speaks to your direct personality, but you need to address what Insidious recommends as your 'First order of business'
you need to be coached and monitored through this... and i don't think terb can provide that nor is it an appropriate avenue to seek to recover from your troubles. we terbites do genuinely care and want to see you succeed, but get appropriate help.
you need to be coached and monitored through this... and i don't think terb can provide that nor is it an appropriate avenue to seek to recover from your troubles. we terbites do genuinely care and want to see you succeed, but get appropriate help.
He's built up $65k of debt in 4 years due to an addiction, and all while presumably working at his present job. Patterns are very, very hard to break.
It's a pavlovian thing.
Regardless of the bankruptcy or not decision, you're going to need to substantially change your environment. Either move, or get a different job or something
fj
It's a pavlovian thing.
Regardless of the bankruptcy or not decision, you're going to need to substantially change your environment. Either move, or get a different job or something
fj
Get the mods to permanently ban you from terb to solve your terb addiction. If
you have other addictions talk to a doctor and get professional advise about the best course of action to take.
Book a free consultation with bankruptcy trustee and the will help you evaluate what option is best for you.
you have other addictions talk to a doctor and get professional advise about the best course of action to take.
Book a free consultation with bankruptcy trustee and the will help you evaluate what option is best for you.
fijiman said:
OK so the guy is an addict, hates his life and has owes way too much money.
So now you would have him quite his job which gives him more free time to think about his problems and lose what little stability and reason for self esteem he might have?
You need to be in a stable state of mind to improve your financial situation. By asking for help and admitting you hate your life, hopefully you are ready to deal with your addiction. You need to deal with your addiction first. Regardless of whether it is substance or physcological. You cannot do it alone so you either need a close friend who can work with you or you need to go to an addiction clinic for help.
Seek credit councilling and assistance in preparing a proposal for your creditors. This should result in you having a budget as welll as reducing the enormous interest rates you are probably paying (I suspect way more than 15%)
If your job has a group plan , quite often they include help for addiction and financial problems through anonymous 800 #'s. That may be a good start.
So after taxes, you can't pay $10,000 to the debt one year and triple the remaining $25,000 to $75,000 in the same year? Problem solved.chillaxin said:
Gyaos Baltar.
I feel for you
For me, it was a life saving appendectomy that turned me around. I was fully ventillated and woke up three days after my surgery to my parents minister holding my right hand in her left hand. Her other hand outstretched giving me the equalent of the last rites... "Serious fuck-up Syd" I said to myself and went back into unconsciousness. I awoke a few hours later to my family around me, and decided right then and there to turn my life around.
It took time (about two years), understanding but I made it. It's 10 years later, I've not touched the blow in 10+ years, drinking is in hand, and on occasion still visit the SC.
It is possible man.
Even a journey of a million miles begins with one step!
I too had a 4 year period of addiction and self abuse. My monkey was cocaine and alcohol, then the strippers came in to. Over the 4 year period I dropped about $100k and ended up in debt. I too make a rather good living, but ended up living with my parents until I got straightened away.chillaxin said:
For me, it was a life saving appendectomy that turned me around. I was fully ventillated and woke up three days after my surgery to my parents minister holding my right hand in her left hand. Her other hand outstretched giving me the equalent of the last rites... "Serious fuck-up Syd" I said to myself and went back into unconsciousness. I awoke a few hours later to my family around me, and decided right then and there to turn my life around.
It took time (about two years), understanding but I made it. It's 10 years later, I've not touched the blow in 10+ years, drinking is in hand, and on occasion still visit the SC.
It is possible man.
Even a journey of a million miles begins with one step!
Lots of good advice here if you are really ready to take the necessary steps. Your new addiction should be money...paying off your debts and beginning your new financial career. Each nickel towards this should give you a thrill...an addictive sense of accomplishment!
You didn't mention what your addiction was...but until you truly shake the monkey...you won't solve your financial and other problems.
Get help, counselling, to lose the monkey...and while you are at it, lose the credit cards too. Only pay cash...amazing how this focuses your mind on what things really cost. Credit cards give you a false sense of your worth!
Good luck...
You didn't mention what your addiction was...but until you truly shake the monkey...you won't solve your financial and other problems.
Get help, counselling, to lose the monkey...and while you are at it, lose the credit cards too. Only pay cash...amazing how this focuses your mind on what things really cost. Credit cards give you a false sense of your worth!
Good luck...
Hey man, drop by and we'll do a line or two. It'll be a blast. Only kidding. Seriously though, way to turn it around. Sounds like you were in pretty deep. I guess they call that hitting bottom. A near death experience will do that to a guy. Perhaps if you share a little bit about what got you through that first period after the hospital, when it must have been most tempting to go for some white powder, then Chillaxin and everyone else would gain some insight into some of the obstacles of overcoming that kind of addiction.billybobjoesue said:
Don't panic. You have a manageable amount of debt.
Here are some suggestions:
1. Get your interest under control. Consolidate it into a single loan with a reasonable interest rate of 7-8% or somethign similar. Running at 8% your debt represents a monthy interest payment of $430-450 or so. On your salary that is doable.
2. PUT YOUR MONEY BEYOND YOUR REACH. You have an addiction. At some level you cannot trust yourself. You need to get your finances set up so that all payments are made automatically.
Set yourself a reasonable budget and leave yourself ONLY that money to spend. Rip up the credit cards. Have the loan repayment made automatically, transferring the money to some location that CANNOT be accessed via an ATM.
The nature of addiction is that if it takes you 2-3 days to get at your cash you will probably manage to get yourself under control and be a reasponsible person in that time period. On the other hand if you can access your cash in 5 minutes you will, and on a day when things aren't going away, you'll blow your whole plan.
Having got automatic payments in place whenever you can scrape together a bit more, by spending less, or whatever, make extra payments against your debt. Feel good every time you do---feel that this payment is atonement for what you've done, and a positive, real sign that you finally have your shit together again.
p.s. - If you have a wife or family member who is willing to help you through this sign over all control of your finances to that individual. Let them dole you out a weekly allowance to spend. Eliminate the temptation while you work through the psychological side of conquering your addiction.
Here are some suggestions:
1. Get your interest under control. Consolidate it into a single loan with a reasonable interest rate of 7-8% or somethign similar. Running at 8% your debt represents a monthy interest payment of $430-450 or so. On your salary that is doable.
2. PUT YOUR MONEY BEYOND YOUR REACH. You have an addiction. At some level you cannot trust yourself. You need to get your finances set up so that all payments are made automatically.
Set yourself a reasonable budget and leave yourself ONLY that money to spend. Rip up the credit cards. Have the loan repayment made automatically, transferring the money to some location that CANNOT be accessed via an ATM.
The nature of addiction is that if it takes you 2-3 days to get at your cash you will probably manage to get yourself under control and be a reasponsible person in that time period. On the other hand if you can access your cash in 5 minutes you will, and on a day when things aren't going away, you'll blow your whole plan.
Having got automatic payments in place whenever you can scrape together a bit more, by spending less, or whatever, make extra payments against your debt. Feel good every time you do---feel that this payment is atonement for what you've done, and a positive, real sign that you finally have your shit together again.
p.s. - If you have a wife or family member who is willing to help you through this sign over all control of your finances to that individual. Let them dole you out a weekly allowance to spend. Eliminate the temptation while you work through the psychological side of conquering your addiction.
they can survive IF they are lucky to have a part-time job which are increasingly hard to find and require experience and qualification.
1) deal with your addiction - the cause of your downfall
2) consolidate your debt - pay the debt rather than interest
3) budgeting - control the amount you spend
3) increase income - more money you make, the quicker you are out of debt
4) stick to it!!!!!!!
last but not least, visiting terb is not the idea, hobbying is not exactly cheap....at least to me
Best of luck.
2) consolidate your debt - pay the debt rather than interest
3) budgeting - control the amount you spend
3) increase income - more money you make, the quicker you are out of debt
4) stick to it!!!!!!!
last but not least, visiting terb is not the idea, hobbying is not exactly cheap....at least to me
Best of luck.
I'm not saying they don't have to work but that they can survive on far less cash than the 70K that the original poster earns. I got by on 15K and had money left for bars and other entertainment. And that included covering tuition and rent (mind you that was 10 years ago). Bottomline is that he won't have tuition as an expense so rent, food and entertainment can certainly be covered for a small amount of money.canada-man said:
