Just a personal opinion: My parents had to declare bankruptcy when I was a kid (it was a LOT of money, failed businesses) and it sucked. Really sucked. It was hard even setting up a phone account, everything cost loads more because you were automatically put onto the highest interest rate. They've bounced back now, but it was tough. Bankruptcy isn't going to make it go away, I still remember the people coming into our house and taking our stuff away. It was scary.
Call the numbers, get some help. What's good for you doesn't always feel good.
good luck hun! no advice but sending you hugs. Just try to focus on the future if you can... if you get on the phone, sort it out with the numbers/people pps have given then the weight off your shoulders will be tremendous.
i was i a world of hurt with credit card debt about your age, fortunately I met my dp and with his very frugal ways, he was able to help me dig myself out. it took a few years to pay off all my debts and if we take loans etc I never have my name on them. But i tell you, once we had a plan in place and i could clearly see a way out, things just started looking up.
definitely go get some free financial advice first. lots of places offer help.
hugs! and hope things start to look a bit clearer for you guys soon. ox
Contact the bank and talk to them about drawing on your superannuation. In certain circumstances, you can claim it in times of financial hardship. It takes some time to get it sorted (for us it took six months) as an independent company from the bank and the super company has to approve it. Our bank was good because they gave us the time to get it sorted and we didn't miss a repayment in that time. Try not to speak to the person who answers the phone, climb higher. We were speaking to supervisors and managers who were in a position to make the decisions. There are a lot of fees that come out of your super doing it this way, but it meant for us we could keep our house.
Be strong. I've noticed that the last few times the banks have called, the people are getting quite aggressive which suggests to me that times are tough and they're calling a lot of people. Last week we missed a car repayment (didn't get to the bank) and I got a call from someone in the bank's head office telling me that he was going to repossess the car - over a $90 missed repayment I just said no worries. Nothing else I could say really. I knew it was pretty extreme from him.
Stop worrying and call them and see if you have any options before you go down the bankruptcy path.
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Thanks everyone.
I just said no worries. Nothing else I could say really. I knew it was pretty extreme from him.
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