In A Tight Spot

[webs134]

I m a union worker in chicago and since 9/11 have been in and out of work. Due to lack of work I have fallen behind on all bills and have basically ruined my credit. I need to come up with $6,000 to keep a roof over my wife and my four kids heads but dont have the resourses to come up with it right now. With less then average credit and a morgtage company sending you forclosure letters what is one to do. Six thousand isnt alot of money usually to me but with my back to the wall i need some help. Any suggestions?

[Shamou]

Hello webs134...

A few decades ago, I was in your shoes... so, I know what you are going through...

First thing to do is to go talk to the lending institution and try to make some arrangement with them... the very last thing that they want to do is to repossess your house... but they want to be paid eventually...

So, if you can come up with anything reasonable, they will accept...

Now, you need to get some money somehow... so look around for part time work with whoever will take you and pay you... this is not the time to be proud... it's time to save the furniture... so there is no shame in working as a taxi driver or waiter in a restaurant or mowing lawns or whatever...

If you keep your courage... and don't let go... you'll overcome this... I know I did when everyone was telling me that there were no way that I could turn things around... for a determined person... there's always a way...

Here's a quote from my friend Tony that you could ponder on...

"Most people have no idea of the giant capacity we can immediately command when we focus all our resources on mastering a single area of our lives. Controlled focus is like a laser beam that can cut through anything that seems to be stopping you."

And good luck to you...

.

[maclinda]

First off, look at what you and your wife can immediately do to raise some cash, and make a list of this.

Are you both working right now? Write down any available funds for your mortgage, even if small.

Is there anything else that either of you can do for fast cash? Yard sale? Waiters/waitresses get tips right away. Odd jobs, paid in cash. Taxi driving? Babysitting? (don't laugh, this pays quite a bit)

Even if it makes for really long days, jump in and go for all the work you can manage. Take this proposal to the bank and see what they say.

You'll need a longer term strategy as well; working 16 hr. days gets tiring pretty quickly but this could buy you some precious time.

I agree; the bank most certainly doesn't want to foreclose on you and be stuck trying to sell a house right now. But you can't just go in and ask for a favor, you need a plan.

In addition, when you go in with your plan you might ask the manager at the bank for information on financial counselling.

[JasonS76]

Work out a deal like Shamou said.

See if you can borrow some money from family to hold you over and look for part time jobs. You'll probably have to take a couple and work over the weekend too but you should scrape up $6,000 in no time. Waiter jobs are good too because of the tips.

[BookWorm74]

Try doing landscaping jobs or pool cleaning services - it may seem like menial work but the pay is suprisingly good. In fact, I think most people would be surprised at how well blue collar jobs pay.

[n_vizion]

When I listen to Dave Ramsey give his listeners advice, he tells them to "sell so much stuff that even the dog hides from you."
Hopefully that will get you some quick funds.