The bank is taking my entire paycheck...
in Banking, Insurance & Loans ·
Lawrence Wright7 said:God... looking back, it really does feel like I just dove headfirst into this without using a single ounce of common sense or brainpower... I am absolutely drowning in debt here...
but back when things were happening 2.5 years ago, everything seemed so perfect:
-I was with my girlfriend, we both had steady jobs, two incomes coming in, and my company even covered all my travel expenses...
-I didn't have any child support payments to worry about
But today:
after a series of unfortunate events and just plain bad luck
I can barely make ends meet at the end of the month..
"your best bet is probably trying to sell the house"
It isn't even a house, it's just a 750 sq ft apartment, and honestly, I'd rather try to rent it out before I even think about selling...
"just be straight with your "ex" about how much of a disaster you're in—you never know, maybe
you'll get help from the last person you'd ever expect...."
The "ex" is constantly breathing down my neck because I struggle so much every single month just to scrape together the support payment, and she actually suggested one day that instead of paying the exact amount the court ordered, which is $307, I should just round it down to $317..
Forget about getting any sympathy or understanding from her; besides, this is for my kid, so it doesn't matter to me. I pay what's required, and I have no intention of stopping..
I still think your smartest move is to offload the condo. Even if you take a 10% hit on the price, it'll be easier than dealing with
the bank breathing down your neck. Once they come after you, forget about ever getting a loan again. Once you hit a bad credit score, it follows you forever. As for your ex, it doesn't look like she's helping you at all. When I suggested talking to her, I didn't mean to be harsh, but you have to realize that poor kid who isn't at fault will end up
losing their support too, because the bank is going to prioritize collecting what's owed to them first.
About rounding that $920—it'd be better to round down to $900 since that's closer than $950, haha... just kidding...
Just remember, if you sell when prices are low, you can always buy something else later from someone else in a bind at a discount, then sell it when the market recovers and get your money back...
good luck....
👍