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Husband seriouslyly screwed our finances!!!

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oldguy
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quote:
I dont see him getting another loan for anything with his credit and debt to income ratios which is why we were doing trade in. He'd have to get a loan to cover the remaining on his new car AND a loan to cover another vehicle, The lender doesnt have a location nearby, if he's able to get a personal loan somehow for $5k+ and a loan for another vehicle, how would he do that?


You seem awfully quick to give up. As I said earlier, I was a part of your dh's exact situation - only I was the buyer, not the seller. The lender could see that the owner (your dh) was on the verge of letting the car be re-possesed. That would have left the lender with only a badly underwater car. So he was happy to accept the buyer's (me) cash & make the deal happen by giving a $5000 shortfall loan to the seller (your dh).
Post Tue Jun 16, 2015 10:22 pm
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countryfire14
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I just dont see how he will be able to with a credit score under 560 and his debt to income so high. He had to try 13 different places before finding one to finance his new car. So getting another auto loan doesn't seem like he will be able to get a loan for $5k or more and for another car...

quote:
Originally posted by oldguy
quote:
I dont see him getting another loan for anything with his credit and debt to income ratios which is why we were doing trade in. He'd have to get a loan to cover the remaining on his new car AND a loan to cover another vehicle, The lender doesnt have a location nearby, if he's able to get a personal loan somehow for $5k+ and a loan for another vehicle, how would he do that?


You seem awfully quick to give up. As I said earlier, I was a part of your dh's exact situation - only I was the buyer, not the seller. The lender could see that the owner (your dh) was on the verge of letting the car be re-possesed. That would have left the lender with only a badly underwater car. So he was happy to accept the buyer's (me) cash & make the deal happen by giving a $5000 shortfall loan to the seller (your dh).
Post Tue Jun 16, 2015 11:53 pm
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oldguy
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quote:
I just dont see how he will be able to with a credit score under 560 and his debt to income so high. He had to try 13 different places before finding one to finance his new car. So getting another auto loan doesn't seem like he will be able to get a loan for $5k or more and for another car...



Remember, these are the same people who lent him $23,000 on a $20,000 car. So they might be happy to get $17,000 cash from a new buyer - in exchange for lending dh $6000 for a 'short-fall' loan. Doesn't hurt t ask.
Post Wed Jun 17, 2015 12:02 am
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Wino
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Someone makes a suggestion, and you say, "That won't work. I won't even try it."

Go back and read what you've written. You just say, "No" to everything. I guess you're waiting for someone to say what you already want to do, at which point you'll say, "I guess you're right."

I'm also guessing that you think the answer is bankruptcy, which it is not.

Re-read every post, then actually think about how they might be MADE to work, rather than just dismissing all the suggestions out of hand.
Post Wed Jun 17, 2015 4:45 pm
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countryfire14
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His credit score was close to 600 and he didn't have majority of the other stuff on his credit report. He has to deal with the loan and car directly as none of it's in my name so no one will even talk to me. He knows his options on it so making any calls or anything is up to him. As well as trying to find a car loan he can get approved for before selling or whatever he can end up doing with his car since he can't be without a vehicle and can't take mine.

quote:
Originally posted by oldguy
quote:
I just dont see how he will be able to with a credit score under 560 and his debt to income so high. He had to try 13 different places before finding one to finance his new car. So getting another auto loan doesn't seem like he will be able to get a loan for $5k or more and for another car...



Remember, these are the same people who lent him $23,000 on a $20,000 car. So they might be happy to get $17,000 cash from a new buyer - in exchange for lending dh $6000 for a 'short-fall' loan. Doesn't hurt t ask.
Post Wed Jun 17, 2015 9:41 pm
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countryfire14
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Well, I said in my original post renting wasn't an option. I explained in a comment why we thought it best to sell the house now, but never said we weren't/wouldn't consider keeping it.
The credit card, he can't NOT pay it, it will lock up his entire bank account plus his job is forcing him to pay a certain amount per month and will be checking on it to ensure he paid the amount they said.
I don't see him getting a loan for a car or personal loan with nearly $200k debt and an income that's not quite 1/4 of that and a credit score below 560 when he wasn't even close to that amount in debt with a credit score closer to 600 and had to have his report pulled about 13 times in order to get that and at a high rate. Any calls related to that have to be on him as it's in his name and no one will talk to me. He'd also have to make sure he can get another car loan because he can't be without a car and can not take mine.
Nothing can go in my name, I already said in the original post I was looking for employment, quitting school helps absolutely nothing and only hurts us in the long run.
School thing... He's already ignoring it, I'm the one getting daily phone calls from a stupid recording but end up just hanging up on them every time, nothing has been paid on it.
The essential bills always get paid first, right now he is skimming by with bills and such but in a couple months when his pay cut kicks in, and after that his primary job is gone is the thing we are focusing on how to manage once that happens.

Right now I have no idea what the plans are, I had all of this thrown in my lap rather quickly and out of no where. Bankruptcy has never even crossed my mind at all, and I'd never consider it. I know somethings absolutely won't work (renting or getting a loan, vehicle, etc in MY name)

quote:
Originally posted by Wino
Someone makes a suggestion, and you say, "That won't work. I won't even try it."

Go back and read what you've written. You just say, "No" to everything. I guess you're waiting for someone to say what you already want to do, at which point you'll say, "I guess you're right."

I'm also guessing that you think the answer is bankruptcy, which it is not.

Re-read every post, then actually think about how they might be MADE to work, rather than just dismissing all the suggestions out of hand.
Post Wed Jun 17, 2015 9:54 pm
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Wino
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Well, since you won't even TRY any other suggestions - You can't, he can't, you won't, his job won't let him.... add additional excuses here - go ahead and declare bankruptcy.

There. Now it isn't "your" idea. You can grudgingly agree with me, and do what you want to do anyway.
Post Wed Jun 17, 2015 11:28 pm
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countryfire14
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What suggestions are you talking about? Since obviously the fact that some people's lives don't just work the way others or say they will or whatever isn't clear. We have to work around the custody and military issues as well as his shit credit and debt to income ratio.
And as I stated in my last post, bankruptcy isn't something that will ever be considered.

quote:
Originally posted by Wino
Well, since you won't even TRY any other suggestions - You can't, he can't, you won't, his job won't let him.... add additional excuses here - go ahead and declare bankruptcy.

There. Now it isn't "your" idea. You can grudgingly agree with me, and do what you want to do anyway.
Post Wed Jun 17, 2015 11:39 pm
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oldguy
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quote:
Since obviously the fact that some people's lives don't just work the way others or say they will or whatever isn't clear. We have to work around the custody and military issues as well as his shit credit and debt to income ratio.


Maybe - but so far all ideas have been "I can't do it because ________ " .
And a person who thinks they "can't" do anything is probably right. Very Happy
Post Thu Jun 18, 2015 1:10 am
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countryfire14
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Of course because keeping my child with me, staying in school (when it has absolutely nothing to with me working or not) and following military orders is definitely "just because I can't"

quote:
Originally posted by oldguy
quote:
Since obviously the fact that some people's lives don't just work the way others or say they will or whatever isn't clear. We have to work around the custody and military issues as well as his shit credit and debt to income ratio.


Maybe - but so far all ideas have been "I can't do it because ________ " .
And a person who thinks they "can't" do anything is probably right. Very Happy
Post Thu Jun 18, 2015 1:29 am
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Wino
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quote:
Originally posted by countryfire14
Of course because keeping my child with me, staying in school (when it has absolutely nothing to with me working or not) and following military orders is definitely "just because I can't"

You can always move banks. Does the military now require that you have direct deposit and they are now monitoring his account location? They are kicking him out anyway. What difference does it make what they think? I'm ex-military, but maybe things have changed since I was in. We used to be treated like adults, but perhaps in today's PC-happy culture, that's changed.

Anyway, no one in the military is going to force your husband not to provide food, shelter, and other essentials, even if that means no credit cards get paid. So, the list I provided, in the order I provided it, still applies, as do all the other suggestions. Since you aren't earning anything, how are you paying your tuition? That must come AFTER food, shelter, and utilities.

You need to start thinking "How can I do this?" You need to stop thinking, "Why it won't work." You haven't even TRIED anything, and you're already certain nothing will work.
Post Thu Jun 18, 2015 5:17 am
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countryfire14
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Direct deposit has always been required since he joined. Yes they are monitoring his bank accounts, he has to check in with them either once a month or once every paydah. Not sure, and show them his bank info andprove he did as ordered. If he doesnt follow through on anything they tell him (with the exception of an unlawful order obviously) they will make him quit his second job, take half his pay for two months, extra duty and be on restriction for a month meaning cannot see the kids, me, or leave the base.
School isn't coming out of pocket, there is a program for military spouses I have been using as well as scholarships and grants for this semester and next since we are separated (can't use the program while separated or after a divorce so applied for them to pay for it and continue going.)
At the moment, necessities are paid and the extra crap but its not going to be able to work much longer.

quote:
Originally posted by Wino
quote:
Originally posted by countryfire14
Of course because keeping my child with me, staying in school (when it has absolutely nothing to with me working or not) and following military orders is definitely "just because I can't"

You can always move banks. Does the military now require that you have direct deposit and they are now monitoring his account location? They are kicking him out anyway. What difference does it make what they think? I'm ex-military, but maybe things have changed since I was in. We used to be treated like adults, but perhaps in today's PC-happy culture, that's changed.

Anyway, no one in the military is going to force your husband not to provide food, shelter, and other essentials, even if that means no credit cards get paid. So, the list I provided, in the order I provided it, still applies, as do all the other suggestions. Since you aren't earning anything, how are you paying your tuition? That must come AFTER food, shelter, and utilities.

You need to start thinking "How can I do this?" You need to stop thinking, "Why it won't work." You haven't even TRIED anything, and you're already certain nothing will work.
Post Thu Jun 18, 2015 5:57 am
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Excentris
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Well you know i Know it hurts his credit but what is there to lose..
You are going to have to file for the dreaded bankrubcy..
to be honest with you.. you can struggle for ages against these problems but with bankrubcy option it honestly gets the problem over quicker.. I hear that they may not take your stuff entirely.. Do some research and see if this Option is for you.. Otherwise take another path if you want to..

what is the difference between me and you to Albert Enestine! nothing.. only yourself! look at you! rise above yourself!
(energy equals everything squared!
sovereign light! fallow the path of light or descend!
Post Sat Jun 27, 2015 12:50 am
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