Where can you get a peer-to-peer loan immediately after a discharge?

[blankslate]

I really don't like people telling others they should give up their pets in financial rough times. You don't expect people to give up their children and taking on a pet is taking responsibility for that being for the rest of it's life as well. The quality that a furry best friend can bring to your life when the rest of the world has got you down is invaluable.

Now SUV's... that's another story. DM I know you're frustrated and feeling caught in a trap. People are just trying to suggest a different way of thinking for you. While I never was given a good financial start in life and never had big credit limits, I see choices that I have made that have not been the greatest. I've had to learn some hard lessons and in the last 5 years have been humbled beyond belief.

To be honest, it sounds like you need to make a big change and quick. I don't think staying in that house in the "boondocks" even without paying your mortgage is going to get you anywhere. You need to take a paycheck and move to the city. Abandon the house since it is going to foreclose anyway. In the city you can make more money, your wife can get work too and even in more humble surroundings you can make it work. $5-6k in monthly living expenses is way too much. Walk away from it all. You're not the only one in this situation, my good friends are now liquidating their dream ranch and all of their assets and planning on moving closer to the city because their dream has come to an end of living in the country for the same reasons you have. They never in their lives had financial problems but now that has changed.

For all of us in these times it's either bend or break. I'd much rather have you bend your way of living and thinking that be broken. If you keep going like this, your marriage will break too. I'm sorry for the way things are and wish you the best.

[debtmonster]

My wife says the same thing. She keeps saying, "You wouldn't get rid of your children. We're not going to get rid of the dogs." She loves them.

I'm already thinking the way people here are talking. If I didn't have the dogs, I could survive with the sedan. But the way it's looking, we're going to have to survive with the small sedan whether we like it or not. We have no options now. We're tapped out this month's paycheck to pay the BK lawyer and the sedan. Next month I won't have to pay the lawyer, so now I'll use that money to pay towards the thousands I will owe the IRS. This should hopefully leave me with barely $100 in my checking account by the time I file Ch. 7 with the court.

I'm going to call my lawyer's office now and ask them when I can come and pick up the paperwork to start the ball rolling. They should be receiving my PAYMENT IN FULL check any day now that I scheduled on my electronic bill pay for them.

[Stilltheone]

DebtMonster,

I just wanted to say that I feel your pain, so to speak. My husband has needed a car for awhile now. He drives a 1998 Camaro, about to turn 200K miles on it. The rear end is shot, needs new tires, leaks oil...

We went to look at cars and he picked out a car for $10K...a 2004 Pontiac GTO. Cute car and I thought to myself "How much can the monthly payment POSSIBLY be?"...I damn near fainted when they came back with $400/mo. That's what we pay now for a 2003 Escalade!

My husband was p-oed for weeks...he wanted the car. I told him a million times over "WE CAN'T AFFORD IT". (BTW, the bankruptcy didn't affect him whatsoever because he NEVER paid the bills, so he still has the same spending mentality)

Just last week, my husband MIRACLOUSLY decides he likes a $5K car...hmm, imagine that. We applied for it, but I doubt we will be approved. For us to be able to "afford it" in my mind, we would need a 4 year note....Who will give us a 4 year loan for a 1999 Pontiac Grand Prix?

I, mainly, have come to the conclusion that we need to keep what we have. We have tried several times over to get rid of the Escalade with no such luck. It either needs to explode, get in an accident, or be stolen. So, we pay on it....for the next 3.5 years. Until that sucker is paid off, NO MORE CARS. Thems the breaks...

[blankslate]

It's good that you will have full payment to the lawyer to get the ball rolling. Just be aware that you will probably need an additional $300 for the filing fee. My friends who hired attorneys thought everything was included in that retainer and were blindsided when they heard "ok, take this to the courthouse and bring $300."

As soon as you file, the IRS is also included in the automatic stay. You don't get rid of that debt, but it will allow you some time to plan for it and work out payment arrangements. The FIRST thing you need to do is find another place to live and more work for you and your wife. Talk to your attorney about abandoning the house. It's going to be difficult to find a new place, but it is doable. I'm a single mom with a big dog and it took a lot of searching but I have found rentals twice in the last year not only with bad credit and bankruptcy but also an eviction on my record. If I didn't end up homeless with my credit and am able to keep my dog, you will be able to make it too.

Please take this as advice from someone who has BTDT too many times in the last 5 years and not as someone who is judging you. Don't wait until the last minute when the bank sends the sheriff out. It is not buying you any time or peace of mind. The sooner you get started, the better the outcome will be. You'll be amazed at how quickly things happen and as soon as you have a plan you will have a tremendous weight lifted from your shoulders.

[welovedis]

Well, I wanted to add that I am one of those people who traded in a perfectly good used car to buy something with no payments. We actually sold our 2007 Toyota Corolla back to the dealer for a great price because we had too much equity in the car, didn't need to keep making the payments (although they were only $167/mth for 3 years because we put a huge down payment on it.

So there it sat for a total of 2 days before being snatched up during the days of $4 gasoline around here. Nothing wrong with it.


And I can attest to the fact that there are many, many good used cars our there--we drove about 10 before picking the one we bought. I'd advise you to call around to some local mechanic shops and find someone who'd be willing to let you bring a used car there for a thorough "look-over" before buying. Any reputable dealer and most private owners would let you do it and it might cost little to nothing. That way you'd have some peace of mind in buying, perhaps.

Here in NY you can get a nice used Subaru wagon with the fold down rear seats and lots of room for a dog crate for about $5-6K with less than $75K miles on it.

You honestly have to just get used to getting by on less and not relying on credit as a crutch. It just doesn't work and hopefully you've learned that lesson by going thru your BK.

[debtmonster]

$10k for a GTO?!?!?! WHY SO CHEAP?!?!?! Not long ago that car was like $33,000!!!!!

For a dealer selling it for only $10k means that the dealer only paid out maybe $7-8k for the trade-in!! The people who bought it new and traded it lost like $24,000-$26,000 in just a few short years! THAT IS AWEFUL!!

The thing is, the 2005 is the model you want. The 2004 is the 350 HP version with the old LS1. The 2005 is the 400 HP version with the LS2 engine.

Why are the payments so high for a $10k car?

Did they only allow like 24 months to make the payments?
https://www.drivercredit.com/calcula...?payment=10000

$10,000 @ at a whopping 24% for a BK loan:
36 months @ $392/mo.
48 months @ $326/mo.
60 months @ $287/mo.
72 months @ $263/mo.

A $5,000 car:
36 months @ $196/mo.
48 months @ $163/mo.
60 months @ $143/mo.
72 months @ $131/mo.

In my case, I'd love a GTO, but we'd have the same problem as we do with the sedan. Lots of the time we go to see family, it's not for a vacation... it's because we need help. Plus we went to a funeral for my wife's mom last year.

I'm tired of being under house arrest living here. I want to join the 60-day club!!! If you lived out here like I do, you would understand. There's nothing to do and nobody to see. All we have is the TV and Internet. NO SOCIAL INTERACTION WITH ANYONE!! It sucks.

[debtmonster]

The FIRST thing you need to do is find another place to live and more work for you and your wife. Talk to your attorney about abandoning the house. It's going to be difficult to find a new place, but it is doable. I'm a single mom with a big dog and it took a lot of searching but I have found rentals twice in the last year not only with bad credit and bankruptcy but also an eviction on my record. If I didn't end up homeless with my credit and am able to keep my dog, you will be able to make it too.

Easier said than done!!! You don't just up and move a 3 bedroom house full of stuff across the country for nothing. Then you have to pay thousands for the rent and deposits once you move. Moving expenses can easily cost $2,000+. I need to stay in this house for AT LEAST SIX MONTHS to save up all that moving money. A day job far away has too much up front costs. Maybe that works where you live, but for us to relocate to Atlanta, Miami, Virginia or any other far away place for a job will cost a fortune. The way you're talking about it, I'd have to drive up in my car to the job and sleep in my car for a few weeks until I got many paychecks under my belt.

It would be easier if I lived and worked in the same town like most people on here, but I don't. For me to get a good job in Tampa/Clearwater where the tech jobs are, that's a 3 hour drive from here. I used to make $60k there. In today's economy, I'd be lucky to make 1/2 that. Thing is, cost of living isn't half. So I'll be spending a fortune to get very little pay. Not worth the trouble to net a few hundred left over at the end of the month. I'm better off staying here with my home business until the sheriff gives us the boot. Hopefully I can have $10k+ in my bank account by the time that happens.

[Stilltheone]

$10k for a GTO?!?!?! WHY SO CHEAP?!?!?! Not long ago that car was like $33,000!!!!!

For a dealer selling it for only $10k means that the dealer only paid out maybe $7-8k for the trade-in!! The people who bought it new and traded it lost like $24,000-$26,000 in just a few short years! THAT IS AWEFUL!!

The thing is, the 2005 is the model you want. The 2004 is the 350 HP version with the old LS1. The 2005 is the 400 HP version with the LS2 engine.

Why are the payments so high for a $10k car?

Did they only allow like 24 months to make the payments?
https://www.drivercredit.com/calcula...?payment=10000

$10,000 @ at a whopping 24% for a BK loan:
36 months @ $392/mo.
48 months @ $326/mo.
60 months @ $287/mo.
72 months @ $263/mo.

A $5,000 car:
36 months @ $196/mo.
48 months @ $163/mo.
60 months @ $143/mo.
72 months @ $131/mo.

In my case, I'd love a GTO, but we'd have the same problem as we do with the sedan. Lots of the time we go to see family, it's not for a vacation... it's because we need help. Plus we went to a funeral for my wife's mom last year.

I'm tired of being under house arrest living here. I want to join the 60-day club!!! If you lived out here like I do, you would understand. There's nothing to do and nobody to see. All we have is the TV and Internet. NO SOCIAL INTERACTION WITH ANYONE!! It sucks.

You sound like my husband.

Here's the GTO he "fell in love with".

http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=255174104&dealer_id=6373235&car_year=2004&rdm=1234894072631&num_records=25&model=GTO&systime=&make2=&highlightFirstMakeModel=&start_year=1981&engine=&keywordsrep=&keywordsrep=&keywordsfyc=&keywordsfyc=&certified=&body_code=0&fuel=&awsp=false&search_type=used&distance=75&marketZipError=false&search_lang=en&showZipError=n&make=PONT&color=&keywords_display=&page_location=findacar%3A%3Aispsearchform&min_price=&drive=&default_sort=priceDESC&seller_type=d&position=top&max_mileage=&style_flag=1&sort_type=priceASC&address=53121&advanced=&end_year=2010&transmission=&doors=&max_price=&cardist=38&standard=false

After all was said and done it came out to be $11K with tax/title, etc.

I know, I know...My husband originally wanted an 05/06 but he "sacrificed" and said "Well, I'll take an '04".. (Don't forget the '05/06's have duel exhaust, versus the '04 has the single.

It was a 3.5 year loan @ 18%...payments were around $410. That wasn't gonna happen.

My husband just needs a car for work. He drives 100 miles a day roundtrip, so I would prefer it not to be an SUV. I have the Escalade for the kids and drive 2 miles a day, if that.

For his Grand Prix GTX (yes, you read that correctly), we shall see. It's only $5K, but I don't want a 2 or even a 3 year note on it. The payment is too high.

[blankslate]

Trust me I know how much it costs to move. I went through hell to find the apartment we're currently in and then 3 months into the lease was informed if I wanted to keep my employment, I have to transfer. I'm moving to Los Angeles and believe me, that is not a cheap move. My move in costs for the apartment alone were $4060. That does not include the moving truck and deposits for the utilities. It also means breaking my current lease and pulling my daughter out of her Junior year of high school in the middle of the spring semester.

Sure felt like I was about to hit a brick wall with all of this and I'm handling it alone. But instead of only seeing things as the end, I have to see them as an obstacle to get around. 5 years ago I had a nice little townhouse. Now I live an apartment 1/4 of the size of that townhouse. It's tiny, it sucks. My daughter and I share a bedroom and constantly trip over the dog. It's better than sleeping in a tent on the street. I had to liquidate and give up most of my furniture. Just had to do it, that's all there is to it. The new apartment in LA isn't exactly an oasis either but it's an upgrade for us as it actually has two bedrooms. It's also tiny and the furniture I have crammed into this one bedroom, simply won't fit. It is not coming with us. I bought a loveseat to go into the new apartment and we will have just that in our living room and a dining room table that is the last thing I own of sentimental value. Again, it's better than a tent on the street.

I currently live in Downtown San Diego. I know how close to living in a tent I am because I see the tent cities every day two blocks away. There are entire families living in them. Some of the families live in their SUV's and get their showers and meals at the shelter. That is reality and if I couldn't humble myself and solve problems with creativity I would be in those shelters with them. I never think "but I can't!" I have to just think of another way to do it.

[debtmonster]

I love the GTO... but if I had to drive 100 miles one-way to work, there's NO WAY IN HELL I would ever buy an 8-cylinder car. And that GTO is an automatic, so right off the bat it eats another 3 MPG over the 6-speed manual transmission. (Those cars are no fun with automatics anyway.)

I would concentrate on some kind of car that gets over 40 MPG if driving that far. Something like a used Toyota Yaris or maybe a 2006 Honda Civic. (Problem is, those Civics cost about just as much as the damned GTO! UGH!)

My car was getting around 33 MPG when I had my last job well over a year ago and even with that, I was paying almost $500+ per month in gas and tolls.

All the money I made at the day job went right to my car expenses. I netted $2000/mo. at the job and my car expenses were almost $2,000/mo. That's why I quit to file bankruptcy. It wasn't worth putting in all of those crazy hours just to pay for depreciating assets. Plus the company I was working at has laid off about 80% of their staff, so I would have eventually gotten laid off anyway.

[debtmonster]

I'm moving to Los Angeles and believe me, that is not a cheap move. My move in costs for the apartment alone were $4060. That does not include the moving truck and deposits for the utilities.

Where did you get the money to pay for all that?!?!?! I am FLAT OUT BROKE and it's virtually impossible for me to save a dime. I need to stay here RENT-FREE in order to get ahead. Nobody will loan me money. The only person who was helping us out died last year.

[Stilltheone]

I love the GTO... but if I had to drive 100 miles one-way to work, there's NO WAY IN HELL I would ever buy an 8-cylinder car. And that GTO is an automatic, so right off the bat it eats another 3 MPG over the 6-speed manual transmission. (Those cars are no fun with automatics anyway.)

I would concentrate on some kind of car that gets over 40 MPG if driving that far. Something like a used Toyota Yaris or maybe a 2006 Honda Civic. (Problem is, those Civics cost about just as much as the damned GTO! UGH!)

My car was getting around 33 MPG when I had my last job well over a year ago and even with that, I was paying almost $500+ per month in gas and tolls.

All the money I made at the day job went right to my car expenses. I netted $2000/mo. at the job and my car expenses were almost $2,000/mo. That's why I quit to file bankruptcy. It wasn't worth putting in all of those crazy hours just to pay for depreciating assets. Plus the company I was working at has laid off about 80% of their staff, so I would have eventually gotten laid off anyway.

My husband drives 100 miles a day, roundtrip...But, regardless, I know what you're saying.

My husband refuses, absolutely REFUSES, to drive anything but a GM product. We've only owned Chevy, Pontiacs and Cadillacs. Even if it IS a GM product, he's still picky. A Cavalier? Heck no, he wouldn't dream of driving one of those. We're limited to Camaros, Grand Prix (either GTPs or GTXs), Cobalts (only if supercharged), and a GTO. All of the above HAVE to have a V-8 otherwise, forgeddabout it. He will drive a pick up truck, but can you IMAGINE the gas mileage for one of THOSE?!?!

Can you see why my husband drives me insane? When it comes to cars, I just want to him.

Gimmie a break, he makes fun of my Camaro (got it for HS graduation many moons ago) because it's a "girl car"...aka a V-6. All I hear is "If I'm gonna buy a car, it's gonna go fast"....

[blankslate]

Again, I had to get creative. I negotiated a deal with the current landlord. She not only is not charging me for breaking my lease but also allowed me to forgo February rent in lieu of the deposit I had put down. I also agreed to show the apartment and screen applicants and found a new tenant for her. That allowed me to pay first months rent in the new apartment in Los Angeles and the new landlord is also making a deal with me to make payments on the deposit. My moving expenses are reimbursable but I'm not counting on the reimbursement. I don't trust any company these days to keep a promise.

I don't even count on having a job for long after I move there. They'll either keep me until the end of my contract or buy it out. It's a risky move but it's one for the better because if the worst happens, I have a far better chance of finding another job in LA than I do in San Diego. I'm fortunate to belong to a union that has a specific fund for these types of situations and am able to get them to front the cost of the moving van and utility deposits.

If I were in your shoes I would save every single penny. Eat top ramen for a month if you have to. Take a good honest look at what you own and see what you can live without. Start selling things on craiglist. I sold everything I could, my CD's, my guitar, etc. for very very cheap prices. I had to realize that it is just stuff. You can always rebuild with new stuff later. While it feels like the end of the world, it does get better. I was forced into this transfer but I am actually excited. I'm excited to get rid of the last of my things and move on to start over again. I'm happy to no longer feel trapped and am looking forward to rebuilding my life. I've been on a house arrest of my own as well and have let my friendships slip out of shame and economics. I can't wait to start over again! In fact I'm counting down the days. We're leaving on Saturday...

[debtmonster]

If he can drive a 6-speed Camaro to work, at least they can get around 28 MPG or higher if it's all highway speed. Some people have gotten 30 MPG (almost the same as my little 4-cylinder sedan!) The only thing is it's not practical. If we didn't have our dogs, I could get by with a nice Z28.

I've owned many GM cars. I would buy another, but they are just too expensive. For some reason GM thinks that $30k cars are affordable when median incomes dictate otherwise. This is why we're all in the mess we are now. It's crazy when people have to pay $750/mo. car payments. Not long ago, a brand new Camaro Z28 was about $14k. They didn't get much faster and then they added $10,000+ onto the price. Something isn't right there. I don't remember my salary going up with cost of living. Why should everyone else get to raise their prices when us employee's can do the same?

[hereforinfo]

I can't think of a single place in central Florida that is 1.5 hours from any city. Doesn't make sense. Even the cities are only 1.5-2 hours from each other with lots of towns and smaller cities in between.