Stuck in a Financial Bind: Need Ideas Fast!

[pampered1224]

I am so not sure what to do here. We had been able to put off one mortgage payment for 6 months back in January. He thought it would be due in July. It is not. It is due NOW! We have to make a double payment by tomorrow. $1668! We have $1134. Pat and I have been calling and asking family for help but only one person could help and it was only $300. Nor does anyone have a credit card we can use. so we are short by $534. We can pay the bank but only if I steal money from two parties. I can not do that though. I really need to get those in as I know I could not possibly explain it to my customers and save face. I even called the bank and begged them to put off the payment until the third week in July as I start another new job on June 25th as I will have two pay checks by then but they won't budge. I am so stuck here. Anyone, have any ideas where I might be able to borrow money with no current job? Maybe there is something I have not though of yet. I have $478.22 in show money that would do the trick with a deficit of $56. That I think I can get from my sister in cash. UGH!!! Pray for me people to do the right thing. Any ideas would be awesome!

 

[Tracy99]

Not much help but can you sell or pawn anything? Metals especially can bring in cash.

 

[gaddischef]

I would think about selling something fast as well ....
jewelry - old gold is going high ....
PC -- have any inventory?
Will be praying for you!

 

[NooraK]

Here's my though on it: If you send a check to the bank, they'll cash it, regardless of what the dollar amount is. Even if it's not the full amount, and even though they say they'll only accept the full payment, if you send them a check, they'll cash it and apply it toward your payment.

I don't know how it works with mortgages, but with credit cards at least the amount not paid rolls over to the next payment. At least you would be showing a good faith effort to make the payment.

 

[vanscootin]

This is NOT one of those situations where you can rob Peter to pay Paul, as tempting as it may be. What if you use that money and the host wants to close the show and then is sitting around waiting for their products because you couldn't come up with the money to put it back and pay for the show. It's a little unethical, IMHO. My mortgage is $2200 a month. It kills me everytime I write that check, but if I want to live in my house it has to be paid. You WILL find a way to pay it without compromising your integrity with your customers and hosts. If I were in your situation, I would sell what I could to come up with the money. Stuff can be rebought when the money is there.

 

[wadesgirl]

You said someone had $300 that you could borrow - borrow that, put it with the money you have. Then see if there is anything you can sell around the house. I've taken old jewelry to the Gold Guys here in town and got some money out of that. They will tell you what it is and what it's worth and give you an option. Don't take anything with sentimental value but maybe something you have laying around that doesn't mean anything. I do agree with Dezi - do not use that money from your shows!! Imagine what would happen if you weren't able to replace that money?

 

[BethCooks4U]

You said someone had $300 that you could borrow - borrow that, put it with the money you have. Then see if there is anything you can sell around the house. I've taken old jewelry to the Gold Guys here in town and got some money out of that. They will tell you what it is and what it's worth and give you an option. Don't take anything with sentimental value but maybe something you have laying around that doesn't mean anything.

I do agree with Dezi - do not use that money from your shows!! Imagine what would happen if you weren't able to replace that money?

Besides, that money is not yours to use. Simple as that.

I agree. Look around and see what you can sell. Have a yard sale. Is there something you could put on Craig's list? Any extra PC hanging around? anything you could pawn?

Last resort... What about those cash advance places? I know they are dangerous because of the interest but you did say you have a job starting next week.

 

[Brenda.the.chef]

I recently sold a handful of old gold jewelry (literally barely covered the palm of my hand) and made $800. Aside from that, I would consider pawning something or a cash advance place since it is due tomorrow. Those cash advance places are awful and would use them as a last resort. Best of luck to you.

 

[pampered1224]

Thank you all for getting me out of "THAT" train of thought. I know I cannot steal from Peter to pay Paul as that never works out. We have sold almost anything of value we already had so that probably will not be an option. Even the life insurance policies have been sold! As for taking in a partial payment, because Pat has no choice but to take it the bank directly, they may accept that or they may not but it could do the trick long enough to send in the rest. Thanks though as I know it is not my money and that is why I was having such a hard time. That survival mode kicks in and thinking becomes clouded. Reminders of why you do not do that are exactly what I needed to hear. Thank you so much! Somehow I know it will work out. Just have that feeling now.

 

[Brenda.the.chef]

I would send in what you have. The worst that will happen is a late fee and a ding on your credit. You simply don't have it, but you will after you start your new job. It's a good faith payment that I believe cannot be refused. That's what I did until the bank finally just started returning my checks because I fell that far behind. It doesn't look like that will happen to you.

 

[pampered1224]

Thanks Brenda. You are right. At least I have that "Light at the end of the tunnel". I hate to ask this but how did your situation work out for you?

 

[Brenda.the.chef]

I haven't made a house payment in over a year and have been jerked around by my mortgage company and jumping through their hoops in their "programs" to help people like me in these situations. They keep having me write letters of why this happened, want my bank statement, payroll stubs, etc and still nothing. I cannot even tell you how many times I've filled out their paperwork only to have them tell me to do it again. I finally called my congressman because it's beyond frustrating! If they are going to foreclose on me and throw me out on my ear, I wish they would just do it already. So, for now, I'm just riding out the storm.

 

[ChefPeg]

In the meantime, consult with a consumer credit counseling service.

 

[cookinfletch]

Praying that you get out of this okay.

 

[pampered1224]

Peg is right to a point also. If need be, go to one but make very sure you pay them NOTHING! If they ask for money - run in the other direction.
Most of those can not or will not help you. Also, if you have a bank that you trust, talk to them. Maybe they can help by buying your loan from the mortgage company. Ask if they support and can help you with a "Making your home affordable" loan. This not only will start your loan over but can at a fairly reasonable interest rate. We dropped from 6.75% to 3.65%. That made a $300 difference in our mortgage payment. Now if we had not both lost our jobs, I would not be entering the mess you seem to be in already. Good luck and bless you on your journey!

 

[katem51]

In my state, WA the state Attorney General's website has listings of legit consumer credit counseling services. I don't think they charge.
I could be wrong, but I think the mortgage company has to accept a partial payment.
DON'T GO TO A PAYDAY LOAN PLACE!!!! YOU WILL BE CAUGHT IN A DOWNWARD SPIRAL OF NEVER ENDING DEBT. YOU'LL NEVER GET CAUGHT UP.

 

[Sheila]

I agree with the "pay what you can now" advice. And I agree with the "don't commit THEFT" advice. I've never used a payday loan place, but I've heard some horrible stories. I wouldn't go that route either. Depending on your experience, call a temp agency and see if they have a quick short term placement they can put you in until your new job starts to get a little extra money in your pocket sooner. That can give you a little boost. Even if you go get a job that will let you work a LOT of hours until your new job starts & then cut back to part time hours around your day job for a while ... that could help you get over this hump too.How about a newspaper route?Ask friends/family if they have any odd jobs that they'd be willing to PAY you to do. Some will fork over money for work that they might be hesitant to "loan". Check into Labor Ready, they pay by the day I understand. Not a great client base, we used to get 911 calls about disputes on a regular basis ... it's a first come, first served basis ... as jobs come in, they go down the list & call you as you checked in. The disturbance calls were usually people trying to cut in line to get higher on the list so that they would have a better chance of getting work that day.Put an ad on Craigslist and also go around the neighborhood & offer to do yard work/wash cars.Sell plasma.Sperm banks pay for donations too. If you have a birthday coming up soon, ask for your gift in the form of cash now vs. a gift then.Bartenders & waiters can make some pretty good tips if you think you have the skills for that. You could probably do more hours now & cut back to part time on that later too.Ask the local groomers if they are looking for help. It's summer time, pets are shedding their winter coats & getting more sweaty & stinky. I'm betting the grooming business is packed right now. They might be hiring seasonal help.I could probably come up with more, but that gives you a starting point.

 

[pampered1224]

My brother made that mistake so I stirred clear of that. He ended up filing bankruptcy because of the one that got so out of control! Now, we had our teem meeting on Tuesday. We had a person, who believes very highly in the power of positive thinking. Not regular, I can do it. But rather the power of putting things out to the universe, affirmations, that are positive that will come back to you. So, all week I have been saying, I will get this done by Friday. Well, a neighbor who has a wonderful heart and whom I helped quite a bit when her brother ended up in the hospital with throat cancer, over heard a conversation I had with my mom, I was in the back yard on my cell,who I explained could not help me with my problem. I got a knock on my door at 8:30 tonight. She stood there a minute and asked me to come outside. She asked how I was doing and if "things" were going OK. I told her about my new job and such and that Pat was doing better with getting out there to find jobs. Then she handed me an envelope and told me it was just a loan! I almost pasted out. In it was the money I needed to make up the mortgage payment we could not make! She heard enough to know how much we needed! Which was good because I was still counting down the hours to midnight to place those two parties! I paid the mortgage this afternoon. I was worried about the cross over as she gave me cash so I could not get it into the bank until tomorrow. I called the bank. The check for the mortgage probably will not show up until Monday and even if it shows tomorrow, the Pampered Chef will not take the money out until later either. I paid that with Pat's charge and the lady told me the authorization will sit until Monday as well! No money will leave the account until MONDAY!!! So both are paid and both will go through and no bouncing checks or declined cards!!!! And yes, I did steal from Peter to pay Paul but Pat knew that we would have the money to cover everything by Tuesday and he also never told me that no, the mortgage check will not get back to our bank until Wednesday anyway.

 

[Sheila]

LOVE when people feel that urge to be someone's personal angel in a time of need! The positive thinking that you are talking about is what the book THE SECRET is all about.Hubby & I took a HUGE pay cut when the kids & I evacuated Japan. I needed a car and thought I was just going to be here for 4-6 months originally, so I bought what I could afford to pay in cash ... $3,100. The guy lied to me about the car. 6 months & another $2,500 later in repairs, I convinced Hubby that I needed a DEPENDABLE car. So we have no renters in the house because the kids & I are living in it, TX utility bills, a car payment, insurance payment, hubby was locked in the cell contract in Japan so he's finishing off my # there & we are paying for a Smart Phone here that he felt I needed, we lost COLA (our Cost of Living Adjustment) when we left Japan, we have all the signatures on our ERD but still can't seem to get them to give him a copy so he can schedule the packout, move into the barracks & get our Cost of Living Adjustment for here in Dallas (we have his command involved & helping us push buttons to try & get whoever is holding this up to do their job) and I'm started off my Texas time making less PC income because I had no tools here to do Cooking Shows (everything's still in Japan). All together, we've taken a $2,400-$3,000 a month pay cut. I have collected a few things to do shows now, but we've been so long with less money that I can't afford a sitter so that I can go do shows/booths & get my business back where it needs to be ... I'm only working when I can get the in-laws to watch the kids for free. THE SECRET is what's helping me through. I started using the positive thinking process earlier this year and since then I've had a few extra surprise oil royalty checks, higher tax return that I expected, found some unclaimed money for my deceased grandparents that we didn't know about, etc. LOVE the principal behind the book.

 

[BethCooks4U]

So happy for you John! I really do believe it all comes back around. You did for her (...or someone...) and she did for you! What a blessing! And you have a job soon. These times make our character stronger. We all have such stories to share. I'm glad this chapter in yours ended this way.

 

[chefliz]

I'm so glad that everything worked out in the end for you John! I so agree with Beth...

 

[Cathy pclady]

great news!! Glad things worked out for you and keep the positive thoughts!!

 

[wadesgirl]

What a great blessing!!