Posts Tagged ‘Car Payments’

We had a very long conversation last night – one we’ve had time and time again since my hubby lost his job – but we had the same one last night…what do we do going forward and how can we continue moving forward?

He heard back from the place that sent him for the Drug Screen and was running his background – they turned him down because something “dinged” on his background check and the Regional Manager said No…I know what it was, he was arrested in 2008 for Embezzlement while working at a hardware store – he was given (3) Mis-demeanors, restitution and 2-years probation – we paid the restitution to the courts and he served his probation – has kept his nose clean since with no problems AT ALL and it’s been what 7 years? How long does one have to carry this around?

So we’re back at square one…

We’re waiting for his Unemployment Benefits…which according to the state could be another 2-3 Weeks before we get those

We’re waiting for Food Stamps…and DSS said that too could be another 2-3 Weeks…

What do we do in the interim?

Oh yeah balanced the checkbook just now and see we’re down $62.42 going into pay day tomorrow…so with that and my check being less than $300 for health insurance we’re screwed…my car insurance is supposed to draft next week on the 28th to the tune of $212.00 (I just sent a note to my agent’s office requesting the payment be cancelled for the month as I can’t make it this week or next until we get the unemployment benefits)…

So we’re trying to figure this all out – options are thus:

1. We try and find a place to live here in Wilmington to lessen the interruption to the kids’ schedules and lives

2. We drop everything here, sell as much as we can and possibly move back in with our parents in MD – yes taking all five of our furbabies with us – we made a commitment to them when we took them in – a lifetime commitment…pray I can keep my job and work remote…pray

3. We file bankruptcy and pray we can keep Silver

As much as I don’t want to leave Wilmington I will if push come shove – we’ve not had good luck since we got here…the move itself was smooth, but we’ve had a seriously rocky road since we got here…

Hubby made an observation last night that’s stuck out with me – whenever we get somewhat stable, inevitably something gets pitched into the mix that seriously throws us off course…and this is so true…I don’t know what we did in a past life to piss off the fates but my Kids deserve better, they deserve stability and we need to be able to give that to them!

Ugh

Angry Emoticon Frustration

Yup those are where I’m at right now

Ugh…Ugh…Ugh…

Our history with vehicles is a rough one, a road that was dredged over time with more downs than ups…started in 2000 when I bought my first vehicle, two months out of college I purchased my first vehicle a 2000 Chevy S-10, it was a two seater pick-up truck that worked well for me and my hubs during the time we had it, then just under a year and a half later I got preggers with my son and we had to look into trading in my truck – with negative equity on that it was more than difficult to do.

2000 Chevy S10

But we managed and a dealership was able to get us into a 1999 Oldsmobile Alero – we drove that thing for several years until about 2007 when it died.

full-1999-Oldsmobile-Alero_17205_1

And we traded it in for a 2005 Pontiac Vibe – that worked well for us too until my husband lost his job in 2008 and it was repossessed in Spring 2009

used-2005-pontiac-vibe-basetrim-7729-3112052-2-400

For five months we were without a vehicle until my husband’s church came together and bought us trust rusty aka a 1999 Dodge Caravan that had 100,000+ miles on it and a very rusty bottom.  We ended up replacing the brake lines + exhaust system – we drove trusty rusty for 2.5 years before the transmission went on that one.

1996-dodge-caravan-267-p2

We traded that in for a 2000 Ford Focus with 100,000+ miles on it too – as you all know that ran for us up and down until a wreck last year, 2014 in February; our insurance totaled it and we used the funds the insurance gave us enough money to pay off the loan and put a down payment on a new vehicle.

2000-2004_Ford_Focus_SE_sedan

It was then we bought Bessie – she had 108,000 miles on her and ran very well for us – sure we replaced the radiator in Sept. 2014 and since then have been up and down with her since – then I got into another wreck in December 2014, something happened and I crashed into a Yield Sign post in a parking lot causing damage to the steering column, the tire, the entire driving system basically, $1,600 worth of damage.  We had to pay a $250 deductible on the repairs – but before she was turned back over to us we sent her over to the Service Department on site with the dealership we sent her to and it turns out the Radiator, the Transmission and possibly the engine needed work – they were saying that it was possible the head gaskets needed replacing/fixing, there was so much pressure built up inside the transmission/coolant system that they couldn’t even get the cap off…quoted me somewhere around $8K for repairs.

2005 Chevy Venture

So today we made the difficult decision to trade her in and purchase a new vehicle – now being upside down on the loan it was not easy, we got lucky that a dealership here in town was willing to work with us – a different one from the one we took her to for the repairs – and they’ve put us into a 2014 Dodge Caravan, our down payment was $500 and our monthly payment will be $538.30 *OUCH* I am not even going to think about right now the insurance payment – ugh we’re gonna be bankrupt in the near future…I just pray Citi is able to get us into a more affordable payment arrangement once our trial plan is done.

New Van 2014 Dodge Caravan

So that’ the latest on us – we’re off-loaded the rental car, took care of Bessie (I actually teared up turning over the keys and Bessie…I’m gonna miss her) and are hopefully on our way to smoother roads – the plan is to keep this thing until it dies! I am done with car payments, once these are done I am done for quite sometime!

Just to remind everyone – we were going through with our what? 4th Attempt at a Mortgage Re-modification, you can read about it in these posts:

Checking In…Where Are We…And Some Random Thoughts…
Thoughts on the Modification…
Well Here We Go Again…Into the Grinder of a Modification

So we got the letter from Citi yesterday and under the FHA Home Affordable possible (yes you read that right, possible) modification we have to first pay three (3) payments of $860.14/month with the first payment due 11/1 – YES in just two (2) weeks they want us to come up with $861.00! Um WHAT?!?!? I have other bills – including, oh I don’t know, EATING, due before that time…no I am not mis-prioritizing things, instead I have already scheduled our monthly car insurance, $81.72/mos drafting 10/24 first and then maybe, just maybe I could give up some funds toward this mortgage payment, BUT BUT wait for it – UTILITIES are due! Oh yeah those pesky monthly payments, right now we owe

Progress Energy (Electricity) $250.00

CFPUA (Water, Trash, & Sewer) $182.00

AT&T (Phone & Internet) $125.00

Grand Total Due: $557.00

Then you know the weekly expenses

Groceries – $200.00 x 2 = $400.00

Gas – $40.00 x 2 = $80.00

Cat & Dog Food – $40.00 x 2 = $80.00

Jimmy’s Money – $20.00 x 2 = $40.00

Friday Pizza Night (the cost of which is equal to groceries) $25.00 x 2 = $50.00

Brigades – $60.00 x 2 = $120.00

Mid-Atlantic Finance (Bessie’s Payment) – $75.00 x 2 = $150.00

Grand Total: $920.00

Between the Two: $1,477.00

Over the course of the next two weeks we’re estimating an income of roughly $1,630.48

That leaves what? $153.48

So where exactly can we afford $861.00??? Someone please tell me?!?!?!?

So here’s how this is playing out – today my Hubby is going to call Citi and see if in fact they need that initial $861.00 on 11/1 as the letter indicated, and if so then we have to figure out what our options are,

Option 1 hubby suggested taking out a small loan to cover the mortgage deficit over the next three months, so roughly $2,500.00 and that would only be done if the cost of the payments was reasonable – note this is NOT something I am on board with.

Option 2 would be the allow the foreclosure process to begin and pray we don’t get kicked out of our home for an extended period of time, allowing us to save money and rebuild our credit while remaining in our home.

Option 3 would be to walk away, find a cheap (ish) apartment here in town (so we could continue our current jobs) and move – this would mean a change in schools for the kids, which I don’t like but if push came to shove that’s where we’d go.

Option 4 would be file for Bankruptcy, he’s thinking Ch. 11 so that everything is put on hold for 5 or so years, but someone told me this morning that Chapter 11 is mostly for businesses…so not sure how this would play out.

Option 5 would be to bail on everything and head back to MD where we have family that can help us…

I don’t really believe we’re here…we try and we try to keep our head afloat, previously rent always took priority in our lives, but then again we’ve never been in a situation where we didn’t get paid time off and a stagnant salary…so now that’s changed some and I am hopeful that now we can work with the change in my income situation and prevent the losses of income.

On that note we did decide last night that we’re going to do what we can to bring in some overtime – for me I’ll log in an hour or two here and there on my rest and yoga nights and some on the weekends and he’s going to see about overtime in the salon at work just so we can bring in more income.

Thoughts?

UPDATE:

Spoke with my Hubby after he talked with Citi and as they’ve explained if, Yes the payments are due on the 15th of the Month like any normal payment plan for a mortgage, so that gives us 4-Weeks aka 4-Paychecks to come up with the $861.00 due or $215.25/week for this month and each subsequent month during the trial period.

At the end of the trial period HUD will step in an pony up our back-due amount, roughly $10K less the 3-Payments we’ve made and the monies currently sitting in our un-applied funds account.  IF we can make these three payments then and only then will the underwriters move forward with a HUD Home Affordable Modification with our final monthly payments yet TBD.

I’ve done out the budget for the first payment and I am not sure still about paying the utilities…but we’ll figure it out…

Anyone who tells me I should be happy in life because I have X-Y-Z may be correct – I have a wonderful husband whom I adore and respect with everything in me – two wonderful children that are the very center of my universe, a home, food on my table, a job and a means to get back and forth to work each day – yet i feel there’s just some basic element lacking, and you know what that is? STABILITY! Especially financial stability – it sucks being broke – and anyone who thinks differently please check it later…I am seriously on edge here and very very tired of being in this boat.  Finding extra income is much easier said than done, the job market where I am basically sucks arse, and in order to get a good job somewhere you truly have to know someone, and well we don’t….so therefore we’re both screwed.  I really would love to find a means to bring in extra income – however putting myself out there scares the ever living you know what out of me, LOL!!! I can go looking for work, yet doing anything freelance scares me, why is that? I have zero clue – I have such anxieties I don’t know where to begin…

But we’re off topics here – the point of my rant above it to bring to light this fact – our washing machine is continuing to be STUPID! My Dad spent the better part of yesterday (Sunday) morning working on it, he pulled the back off, pulled the pump filter off of it, cleaned it out re-assembled everything and thought we had it working, so I go to run some laundry yesterday and BAM it’s not working properly…ugh ugh ugh…so we’re back off to the laundromat tomorrow night to finish our laundry again…this is SO NOT how I would want to spend my evening again…so I sent the hubby off to call an appliance repair shop to see if they have any input, so maybe just maybe I can not replace it, I really don’t want to, but it’s looking more and more like we might have to…SH*T I don’t have that kind of coin, even for a used one!

So where are we elsewhere?

– The mortgage is about two weeks behind, I just sent the balance due for October’s payment, maybe, I think there might be a little more due on that

– The car payment for October hasn’t been made yet – that’ll get paid in part next week and the balance two weeks from now – and by then November’s payment will be due

– We got the kiddos their State Health Insurance back, HOWEVER we have a $100 deductible for the year, not terrible, and I’ll take it, it’s better than the $172.10/each per month they’d initially quoted us, and we can continue to have it for them

– I just paid off the Water bill last week, leaving a $10 balance

–  We’re still behind on the Electric, I so want to bring that current, but see above, there’s always something interfering with my ability to pay that…

– I did the budget for Christmas and WOW! That’s all I can say for that!

So here’s last week’s budget – I didn’t post it last week so I am posting it now – once this Week’s (Week Ending 10.20.13) is finalized I’ll post that one:

 $20.69 Remaining from W/E 09/08/13  $517.08 Lara W/E 10/13/13 Salary, Pay Date 10/18
 $28.48 Amt. Spent  $254.19 Jimmy W/E 10/13/13 Salary
 $(7.79) Avail. Starting  $771.27
 $7.80 Harris Teeter  $(7.79) Avail. Starting
 $6.20 PetsMart  $771.27 Total Pay
 $1.01 KTC  $763.48 Avail. For Bills
 $2.40 PetsMart  $1.91 Adj.
 $11.07 Sweet Frog  $765.39
 $28.48

Boy did we over do it last week on the extra expenditures – HOWEVER, Sweet Frog & The $2.40 PetsMart with one component of the KTC was on the same night as our pay day, and because it took so long to get to the check book, I think it was Sunday night before I got to it, those items impacted my bills being paid out last week so I had to include there here vs. on this week.

 $765.39
 $70.00 Brigades Boys & Girls Club
 $695.39
 $ – OT Solutions
 $695.39
 $200.00 Groceries
 $495.39
 $25.00 Jimmy’s Money
 $470.39
 $25.00 Dinner, 9/13
 $445.39
 $40.00 Gas
 $405.39
 $22.72 Cat & Dog Food
 $382.67
 $7.99 Hulu.com, 10/21 Auto-Draft
 $374.68
 $205.00 CFPUA
 $169.68
 $32.00 Vehicle Inspection
 $137.68
 $28.00 Vehicle Registration
 $109.68  $109.68
7%  $7.68
 $7.68  $102.00

And with the Cash Withdrawal – the funny thing is that I am still carrying around the $60.00 for the Inspection/Registration – we tried twice last week to get it done and both times our inspection station was busy – yes I know we could have gone to any number of places in town to get it done, but we wanted to go to the people we trusted – so we try again tomorrow morning, Tues! Fun right?!?!? LOL!! Nope!  Well here’s with the cash withdrawal:

 $765.39
 $70.00 Brigades Boys & Girls Club
 $695.39
 $  – OT Solutions
 $695.39
 $360.00 Cash for Week
 $335.39
 $7.99 Hulu.com, 10/21 Auto-Draft
 $327.40
 $205.00 CFPUA
 $122.40
 $22.72  Cat & Dog Food
 $99.68
 $7.68 Merrill Transfer
 $92.00

That’s all she wrote folks! Let’s hope things pan out a lot better from here! TTFN All!