Wednesday, November 24, 2010

Would you consider me a deadbeat debtor if I can't afford to pay my credit card creditors?

After I pay my %26quot;fixed expenditures%26quot;, I don't have any $ left to pay my credit card creditors. So, I've decided to hide from my creditors since they don't understand that I have no money. I don't have a landline so they can't contact me by phone. Their letters are not opened, just immediately thrown away. They literally have no other way to contact me. If I make only X amount of $ a month, how can I pay these creditors XX amount of $? I only have the basic necessities at home - no phone, no cable TV, no internet (I'm using a free public library computer to type this). So, do you agree that I did the right thing by hiding since the creditors have no compassion?



Here's a list of my monthly %26quot;fixed expenditures%26quot;:



Rent - $450

Gas Heating/Hot Water/Cooking - $150

Car Insurance - $177

Car Warranty - $125

Life Insurance - $100

Health Insurance - $96

Prescriptions ?(total of 3 each month equaling $260)

Electricity ?$48 ($74/mo during the summer for added cooling costs - necessary due to my health/asthma)

Laundry - $24 for supplies, cost of loads, etc.

Household Goods - $20 (cleaning supplies, toilet tissue, dish/laundry detergent, etc.)

Personal Goods - $30 (shampoo, soap, deodorant, toothpaste, etc.)

Clothing - $50

Haircut - $17

Postage/Stamps - $9

Money Orders - $4.20 to $8/mo (I need to pay my bills via money order because I do not have a checking account)

Car Fuel/Gasoline - $30/wk (since gas prices are consistently increasing)

Parking/Tolls to get to work - $15/wk

Car Fluids, etc. (Brake Fluid, Power Steering Fluid, Oil, Cleaning Supplies, Windshield Wiper Fluid) - $10

Food - $100 (or $25/wk on average)



Here's a list of my yearly, etc. %26quot;fixed expenditures%26quot;:



Car Inspection/Emissions Test - $56/year

Car Registration - $38/yr

Driver檚 License Renewal - $28/every 4 yrs

AAA (Emergency Roadside Assistance) - $81/yr

H%26amp;R Block Tax Services - $234/yr

Car Oil Change - $50/every 3 mos

Doctor/Eye/Dental copays - $60 ($15/each) for every appointment - at least 2 or 3 times/yr

Car Upkeep (Tires) - $200 on average ($50 for each tire)

Car Upkeep (Belts/Hoses/Spark Plugs/Battery/Wipers) - $150/yrWould you consider me a deadbeat debtor if I can%26039;t afford to pay my credit card creditors?
First, you need to get a checking account.



Next, without listing your income, it is impossible to figure out what your budget should be and if you are living within it.



My question is, if these are all of your fixed expenses and you are able to pay all of these expenses without a credit card, what have you been spending money on that got you into the credit card debt in the first place?



Also, you have some questionable expenses, such as paying that much to have your taxes done, when it should be relatively easy to do them yourself at no cost.Would you consider me a deadbeat debtor if I can%26039;t afford to pay my credit card creditors?
While your list is highly detailed, some of it is frankly off.



Postage is too high, food is way too low. Clothing is low. Personal items is too high, How often are you replacing tires? I lose a tire every few years.



If your income is that low, get your taxes done for free by the IRS/VITA.



You blew it if you bought a car warranty for $1200 a year.



You don't need life insurance (you don't have a spouse or children).



And you've never addressed the issue of why you have credit card debt. Hiding does *nothing.* The CC lenders will sue you, win when you don't show up in court and will send court orders to your employer to garnish your wages.Would you consider me a deadbeat debtor if I can%26039;t afford to pay my credit card creditors?
It isn't the answer you want to hear, but no, I don't think you are justified in %26quot;hiding%26quot; from the credit card companies. They didn't force you to purchase what you did on the cards. While they do most likely have outrageous interest rates, you did enter into an agreement with them and you agreed to pay. They are a business, but they have employees that are real people, and if too many people do what you do then they lose their jobs and it all gets worse.



I did the math, and your expenses are less than $23,000 a year. If you are not making that at the job your work now, I would recommend getting a new job or a second job.Would you consider me a deadbeat debtor if I can%26039;t afford to pay my credit card creditors?
Debt doesn't just go away. It will wait for you to resurface, then bite you in the butt. Chances are you'll need credit for something eventually. Not to mention the interest that will continue to accrue on those accounts. You can try to renegotiate the debt with your credit card company, get another job to try to make more money, or talk to a lawyer about declaring bankruptcy.Would you consider me a deadbeat debtor if I can%26039;t afford to pay my credit card creditors?
http://search.yahoo.com/search?p=debt+la

It looks like your expenditures are inflated.