I’m dealing with a pretty rough situation here. Got myself into credit card debt, and now social security is about to garnish my wages because I earned more than allowed while receiving benefits. Once those payments ended, I relied heavily on credit cards, and now I’m really in deep. Filing for bankruptcy isn’t something I want to do since it’s going to stick around for years. I’m thinking of focusing my payments on my lowest balances first and then moving to the next, but not sure if that’s my best move. Anyone got advice on how to handle this with the garnishment?
Maybe look at picking up extra work if you can. If cutting back isn’t enough and you’re still in a tough spot, you might have to consider filing. But keep all unnecessary expenses down as much as possible.
@Zayne
Yeah, I’ve already cut back a lot and just picked up a second job, but how much I can save will depend on what social security takes from my paycheck.
Taryn said:
@Zayne
Yeah, I’ve already cut back a lot and just picked up a second job, but how much I can save will depend on what social security takes from my paycheck.
Sounds like you’re doing everything you can 
Stay focused and keep going!
@Oakley
Thanks. Not the place I wanted to end up, but here we are. Just gotta figure out a way through it.
Maybe reach out to social security and ask if you can arrange a payment plan. They can sometimes be flexible if you reach out.
Gray said:
Maybe reach out to social security and ask if you can arrange a payment plan. They can sometimes be flexible if you reach out.
Good idea, but I think it’s going to be around $200/month. I didn’t realize there was a cap on monthly earnings; thought it was higher. Guess I misread, and here we are.
Bankruptcy might not hurt you as much as you think. I had to file after my ex ran up a bunch of debt on my credit. Lost my cards but built my credit back up within a year or so.
Corey said:
Bankruptcy might not hurt you as much as you think. I had to file after my ex ran up a bunch of debt on my credit. Lost my cards but built my credit back up within a year or so.
How did you rebuild that fast? I’m in a similar spot and just trying to get back on track.
You might also be able to request a waiver if things are really tight.
Jaime said:
You might also be able to request a waiver if things are really tight.
Not sure if they’d approve it, but it can’t hurt to ask, right?
Worst case, you might have to file bankruptcy. You’ll lose your credit cards, but it won’t be 10 years before you can rebuild. SSA debt can be included in chapter 7, so it could help.
Tatum said:
Worst case, you might have to file bankruptcy. You’ll lose your credit cards, but it won’t be 10 years before you can rebuild. SSA debt can be included in chapter 7, so it could help.
Really hoping to avoid bankruptcy if possible. I have some assets, like a few low-value cars, but I may need to sell some. I’ll focus on paying off the lowest balances first and build up from there. Hoping my second job helps me keep up while I tackle this.
Dave Ramsey could be a good resource for this. Maybe look into his advice. Good luck.
Ali said:
Dave Ramsey could be a good resource for this. Maybe look into his advice. Good luck.
I’m not so sure about his advice, especially when thinking about future home loans.