Help! I need some quick advice

[accentone]

I work at home, get paid by mail every two weeks. As luck would have it, there was a mess up with the invoices last week and I will not get my pay check until after Christas. This money was going to be used for Christmas presents for my three kids. Now what do I do? Options I can think of include:

1-borrowing 500 from the pay day loan sharks and forking up the fee of 75 dollars when I pay it back.

2-paying my mortgage late (it would go beyond the 30 day mark).

3-use a zero balance credit card to buy the presents and pay it back right when I get my check (which should be around the 1st of January now).

My actual discharge date is 12/27. But there is a stipulation to get my tax money, which will leave the case officially "open" until I file and send the trustee my tax forms/refund.

Anyone have any suggestions of what action I should take? I'm getting that desperate feeling right now and don't want to do anything rash.

Thanks.

[StaciMM]

#1-I really think that is a bad idea. From what I've read (don't recall who posted but it was someone here) the loans may be set up to automatically renew, and simply paying it off may not get you off the hook.

#2-Probably not a good option! If you reaffirmed, then it will cause a lot of damage to have a 30 day late reported after the BK. If you didn't reaffirm, then other than perhaps a late fee, there might be no harm. (You mentioned that your discharge date is scheduled for 12/27, I'll assume this is your deadline for objections? If so the discharge will come after, maybe a few days or maybe a few weeks. By then you'll have made the payment so no harm-PROBABLY.)

#3-This option might be frowned upon, but if you have a $0 balance card it is perhaps your best option. The downfall would be if the trustee found out you were using credit, which is not likely. Even if the statement is issued the day after your charges post, you'll have 2-3 weeks to make payment and full so no interest.

[accentone]

thanks, staci. that's what I'm thinking, too. 12/27 is the last day for objections. Which is really going to be this coming Friday, since 12/26 offices will likely be closed. But I could be wrong on that. I'm just a little concerned because we are, I guess what you would consider, "high income" filers, although I would never know it, the way we struggle so, even not paying credit. We are trying to revamp our business to get some cash in this house.

[Minnymouth]

Yeah, I would probably slip and use the cc too......

Spend $500.00???

Since I was having trouble with a cash flow - I don' know that I would spend that much.....

You can buy nice gifts for kids without spending lots of $$ on them...... They need to understand it doesn't grow on trees.....

Charge no more than you can pay off in 30 days....... then no interest, etc.

Then put that card away for emegencies only.......

Start getting your credit score corrected and built back up....

Everybody wants their little ones to have a big Christmas..... some years, realistically, its just not possible...

Buy lots of "little things" and wrap them up separately..... the pleasure is in the opening......

One of the girls here in the office went to Dollar-Rama (where everything is a buck)..... She bought 25 gifts for each child...... wrapped them all separately and filled up underneath her tree. She did this last year also, and it was a "big success" , so did it again this year.

She bought wallets, purses, photo albums, pocket knives, toys, games, and all kinds of neat stuff....

She did one for our exchange gift at the office (she filled up a Christmas stocking - $25.00) with all kinds of goodies..... Wish I had gotten it!!!!!! Full of memo pads, pens, paper weight, picture for desk, calendar,etc... all kinds of good, useable stuff..... Clever Idea.....

Try not to come out of BK in debt right off the bat - just makes it harder trying to get ahead again....

My thoughts,

[accentone]

Minnie, a good idea. Unfortunately two of mine are boys, 15 and 17. The 11 year old girl, I could probably get away with. I will get her clothes mostly because that's what she wants anyway, and it's practical. The boys I will get one big thing each and be done with it. You are so right about them having to realize that not every Christmas can be a bang. I had to learn that the hard way when I was a kid, and it didn't hurt me any.

[Minnymouth]

Yeah,
Your kids being a lot older makes it hard to use the stocking idea!!!
And one game they would want would be $50.00 easily.....
So I can see where $500 would be getting off easy in your case.....

A friend of mine stopped by last nite - his two girls are in college.... he asked me if a digital camera and photo printer were $600.00....????? I told him YES, if you buy them good ones that will last a lifetime.....

He about passed out ........ cause that is what each one of them wants.....

I told him the girls are good girls, they make straight A's - they both work full time, to help pay for college, and they cause you no grief......

I told him "OKAY Dad, get off your $50.00 wallet and give your girls a good Christmas...... I know you can afford it, they know you can afford it, so do it!!! Pretty soon they will be buying for their own children......

He can more than afford it - he's quite wealthy in his own right.... and will never miss it... He spends that much flying to Vegas over New Years in a private plane....

He said his folks never spent over $50 on each kid at Christmas.... I told him mine never spent over $25......

He said the girls told him he wouldn't buy them when he asked them what they wanted.....

I told him - then their not expecting them - so SURPRISE THEM!!!!

But I too do not believe in being real extravagant during Christmas or birthdays.... even if I had the money I probably wouldn't be......

So he is out today, looking for a good camera and printer outfit for each of them...

I told him he could "cut back" next year.......lol

I have to laugh at him in a way..... the girls got cars for graduating from high school..... And he promised each one of them a new home (their design built to order) if they both graduate from college..... and he's fussing over the cost of a camera.....?????
He said it was the "principal" of it!!!

If you can afford "expensive" gifts for your kids that's great...... if you can't - be realistic about what you can afford .....

Me I was raised poor to middle class, but I have cousins who said we were rich - cause I had store bought clothes that matched!!! Their clothes were made out of feed sacks!!!

Christmas was "light-when it came to the gifts" but full of lots of good food and good times..... memories that I still cherish to this day....

[accentone]

Minny, what a great story.

My oldest just came through the door and asked me what was wrong (he reads me like a book). I told him check didn't come in, and won't until after Christmas. He said, "That's okay, mom, you don't need to buy anything." Then he hugged me. What a great kid I have!

Now if I could get the two younger ones to agree ...

[bkfiler]

remeber to explain to them that mommy is running low on money and that when that happens one cant spend too much because you need to spend it first on living expenses. it would be a good lesson for them to learn or start getting to know imo.

dont worry, christmas will be a good one and you will make out!

[Minnymouth]

If you can get them to wait till AFTER Christmas - give them cash - let them do their own buying.....
EVERYTHING will be 50% off for about a week and they can get double the stuff if they are smart shoppers...............
OR you can do the shopping and get them double the stuff they would have gotten..............

I used to do a lot of shopping after Christmas when the discounts were so good................