I’m a divorced mom trying to keep my head above water, and I’ve just been served court papers for my credit card and school debt. I have $20k in credit card debt and $5k in school debt (not student loans). I’m current on my mortgage (owe $135k on the house) and on my car payments (still owe $20k on one of my two cars, the other is paid off but isn’t worth much).
I work part-time while going back to school, and I can barely manage my basic expenses like mortgage, utilities, car insurance, gas, and food for my kids.
What can they actually do? Can they take my home or cars? Is there any realistic option for me here?
I’m in NY if that makes a difference. Any advice would be appreciated.
Andi said: @Harley
Just get rid of the car payment. It wasn’t a great idea to have it in the first place.
I bought it when I was married with two incomes and wasn’t in school. Since the divorce a year ago, I’ve had no support, and I decided to go back to school for better opportunities. I don’t think I deserve to be judged here … life doesn’t always go as planned.
@Harley
I recently got rid of a car that needed a bunch of work. I didn’t make anything off it, but it saved me on gas, insurance, and maintenance. Sometimes it’s better to let go.