A new addiction
I don't know if anyone is actually reading this or not, since my primary blog is dead and has been for about a week now.
You know you live a sad life when you can't blog and have trouble finding something to do to occupy that time. Well, let me rephrase that. There's plenty I could be doing that would be constructive, working toward the move, cleaning the house or whatever.
So since I've been unable to blog, I've been playing World of Warcraft. I made a character under my hubby's account to see if I liked it before shelling out $50 for the game and $15/month to play. Do I like it? Yes. Do I want to buy my own copy? Yes. Can I really afford to? No.
Speaking of affordability, that little issue with the lawyer and the judgment against me over credit card debt has resurfaced. I thought I had things taken care of and under control, making monthly payments until the balance is satisfied. Apparently I thought wrong. I got a copy of a writ of garnishment that was filed a couple of days ago. I was reading the verbiage of the Federal Wage Garnishment Law (Title III of the Consumer Credit Protection Act) and I'm a little confused. According to this, a maximum of 25% of my aggregate disposable earnings for the work week can be garnished. Are my disposable earnings the amount I actually see on my check, the net amount after taxes and other deductions? Because I certainly don't consider all that disposable. I have rent, my car payment, daycare, student loan payment, groceries and utilities that comes out of that. Anyone out there with any legal expertise...your opinions are welcome. How much can they take and can they take it if I'm already making payments to them. I was figuring and if 25% of my net pay is garnished plus the amount I've been paying, they'll be getting $380 a month from me. That would leave me unable to pay my other bills for each month. Things are tight as is, this would just make it worse. Plus in a few months the added cost of baby 2. Needless to say, I'm freaking out at the moment. I'm thinking about just breaking down and asking my mother or sister to borrow the money from them and getting this out of my hair. It would be much less stressful to repay a family member than an attorney who is hellbent on getting the money ASAP.
Other than that, things are okay around here. I got my student loan out of default (woo-hoo!) and I have my tax refund coming in a couple of days.
I know the sayings..."It's always darkest before the dawn" and "Anything that doesn't kill you only makes you stronger," but it's hard to believe at the moment. I'll make it, one way or another.
Oh, a final note: I went to my mother's house for Easter lunch and broke the pregnancy news to the family along with the move news. The person who made the most trouble for me was my brother-in-law, who immediately said that he thought it was a bad idea and started pressing the other members of the family with, "Don't you think that's a bad idea?" Thanks for your support. At least I know now who not to ask for any help with the move.
posted by carrie @ 4:38:00 p. m.
3 comments
3 Comments:
I found you! LOL :)
Is the other blog permanently dead? Should I change my link?
Sorry to hear about the credit card problems..that sounds awful. It also doesn't seem right that they can take money needed for daily living. I hope you are able to work it all out soon.
Glad to hear that your family was OK with the news (other than your BIL who sounded like a jerk).
Regarding credit problems:
If they are already garnishing your wages (to the max of 25% or whatever it is in your jurisdiction), then there's already a black mark on your credit rating - garnishing can't happen until that "black spot" occurs. Those spots take about 8 years to completely clear your credit rating - unless you've also gone bankrupt, in which case, it's kept on your credit history indefinitely.
What does this mean in practical terms? It means that you can safely "not pay" the regular payments you were already paying, since your credit is hooped anyways. (I'm not making fun of you, just being direct.)
If it was me, I'd phone the creditor (first) or (second), the collector and ask whether they want you to pay the regular payments, or is it just simpler for them to garnish your wages? Let them know that you're willing to deal - but not to starve and go completely bankrupt.
If they don't play ball, then drop the regular payments and pay only as and when you can, and they can have their 25%. By the way, if it's a collector or a lawyer you're dealing with, they are getting more of the money than the credit grantor is. Usually it's around 50% take for the collector. So if you can contact the creditor directly and keep the middlemen out, your bill will be paid sooner, and with less headache.
On another note, if family is willing to front you the money, you could offer to pay off so many cents on the dollar. Often creditors may look at your entire situation and realize it's better for them to settle with something now, rather than drag out the administration and collection costs until some distant future...
Personally, I took my student loans and had them (gratefully so!) put onto my parent's ultra-low credit card. That enabled me to pay it off that much faster.
Just remember that credit isn't there for your benefit, it's there for their profit. If you have credit "housekeeping" to do, then back way off until you are able stand on your own financial feet again.
Katrina: you found me! I didn't disappear on purpose or anything. Server issues. I should be back on the other blog shortly, I hope.
emphatico: thanks for the info. I just want to get this taken care of in the simplest way possible and without starving my family or ending up homeless because of wage garnishment. I'm not so worried about my credit, since it's already screwed at this point. Besides, we're moving to another country in a few months so my credit rating here won't be so important.
Publicar un comentario
<< Home