The earliest appointment I could get with a lawyer in my area was for mid August. That tells me two things - first, I’m not the only one dealing with bankruptcy right now; and second, I should have called earlier. Well, at least the appointment is made. For the next two months I can just work on making sure I have everything ready and organized, and make sure that I’m really living according to my budget- which honestly isn’t hard since I have no access to credit. I get a set amount each month and that’s it. Once it’s gone, I’m up a creek. This has been so good for me learning to really live within a tight budget.
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Late last year I suddenly found myself single, in the midst of foreclosure proceedings, and over $100,000 in debt (not including the mortgage). I know exactly how I got there- completely assuming that my soon-to-be-ex husband was telling the whole story whenever we talked about finances…which wasn’t often. I’ll be the first to admit that I made some very stupid mistakes, some of which were: allowing all the debt to be put in my name because I had the best FICO score (well, I HAD the best score when we married); keeping all our finances separate (even though all the debt was in my name); and perhaps the worst mistake- not talking about the problem on a regular basis.
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by Jenny on February 3, 2009
I’ve decided to take this blog in a slightly different direction. Since the events of the last 6 or so months are basically forcing me into bankruptcy, I figure that I should really become what the title of this blog suggests- a super saving mom. Frugal Mom to the rescue sort of thing! I don’t need to worry about my networth, my FICO score, or anything like that anymore. What I need to worry about is living within a very strict budget, and still being able to give my son the world.
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by Jenny on January 29, 2009
Even more has happened since I last updated in November. I decided to divorce my husband. It sucks, but we had simply grown in different directions and wanted different things out of life. We are fortunately both committed to remaining friends, for the sake of our son if nothing else. Because of this, it will be an easy divorce. 2 months after I decided to divorce him, I’m feeling very optimistic and excited about my new life.
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by Jenny on November 1, 2008
Last time I posted, I said I was on my way to speak the a lawyer about filing bankruptcy. So much has happened since then! First, bankruptcy is no longer looming on the horizon. Through a set of very fortunate circumstances, and the hand of God, I have been able to pay off several debts and get all my other ones current, except for the house!
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by Jenny on October 17, 2008
Or perhaps I should say my “debt” worth, since I’m so far on the negative side that it almost seems hopeless. Even if don’t include the house that is in being foreclosed on, I’m still on the negative side- just not as much. Figuring out my net worth did not help brighten my financial picture- in fact, it seems even more like perhaps I should start seriously looking into bankruptcy. Check out my sidebar for my Net Worth badge- it’s taken a real dip since I did my first badge in June. In fact, I now have the lowest net worth at NetWothIQ.com
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by Jenny on October 14, 2008
I may have to rethink the plan of being debt free in two years. I really didn’t count on not having any income whatsoever for several months. Loosing your only source of income, while being so far in debt and not having an emergency fund simply isn’t a great combination.
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by Jenny on September 30, 2008
Unfortunately, I didn’t make any progress towards eliminating my debt in September. Actually, I added to my debt due to late fees and over the limit charges. Our income for September was pretty much $0….and I’m not exaggerating. My hubby is only making enough for him to live off of while he is in China (at this point anyway), not enough to send anything home. I don’t really have any expenses, since I’m mooching off my parents (ugh), but I also had no money to make the minimum payments on my cards. We didn’t manage to make the car and all the insurance payments, so that’s at least something.
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by Jenny on September 25, 2008
I’m always looking for stories about people legitimately making money by working online. A few months ago, I came across the “My Debt Free Goal” blog by Amy Bass. She’s an average “Jane” who has made money online through various methods…enough money to pay off nearly $55,000 in debt! Since that is my goal as well, I scoured her blog to find out how she did it.
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by Jenny on September 15, 2008
Baby Step 1 of Dave Ramsey’s Financial Peace University is supposed to be completed ASAP. I’m about to start week 4 of of FPU, and I’m still on Baby Step 1. It’s really hard to gather up that $1,000 when your income is basically non-existent. I figured I would shoot for the $500 that Dave recommends for people whose income is under $20,000 a year. I’m not even half way there yet!
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