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As anyone would say I wish I knew wealthy people to help me out and pay them back high interest. I thought peer to peer lending might work but they won't even let me tell my story unless I have a credit score of over 650. In my current state I know my credit is below that plus applying for these loans via credit unions and banks dropped my credit score because they pulled it so many times. Just a pipe dream now I guess as all options have run out. I also tried to take an equity line on my parents house but they have refied way too many times and don't have any left
- since your credit is not good, how is your husband's? If it is good, he can take out a personal loan.
- Register for college or grad school and take out a student loan, but not sure how your AGI will factor in regards to how much loan amount you can take out.
- do you have any credit cards with a large line of credit? If your credit is so bad you cannot get a personal loan, I doubt you can get a large line of credit card.
My husband hates me right now and thinks I have ruined our lives trying to help my parents and now I've become them. We have always kept our incomes separate. We have a house account we both put the same amount into every month. It's worked for us for the past 5 years so we never changed it. His income is covering what I can not cover right now I'm being swallowed by the interest. I'm so desperate to fix it, I've worked so hard for so long, I don't want to lose it all. I'm hardworking and usually very smart except for this screw up completely ashamed and embarrassed also.
Is it a marriage or business contract?
This does not even make sense, never has when anyone does this.
How about since it is a family unit, combine the incomes, pay what is needed, then use the rest to pay down the debt? I never understood the whole "that is your debt, not mine" when it comes to marriage. But this is probably a factor why you are in the situation you are in now.
Please do not tell me your husband has money in savings right now...
Tried to take a loan out in husbands name but two months after we bought our heating system went and he took one out then to buy a new system. Bank won't let him borrow again until that is paid off or we could borrow but have to pay off first loan with what we would get which would still leave me in the same boat. I am going to school and already have the pell grant I only asked for what I needed given I was not in this situation when I applied.
Every single place in this post you have said "I tried this" or "my lack of credit history". It sounds like your husband is just saying "this is your problem, deal with it yourself". Therefore, my assessment is that your REAL problem isn't financial. It is marital. If you didn't have marital problems before this, your husband would be pitching in. For example, does he have credit history? Would the bank loan him money? Does he have any credit cards he could draw against?
My husband and I have maintained separate accounts for our entire marriage (we've been together for 21 years total, married for 14), but it is still "our" money, and if one of us was short, the other would catch the bills up. We would never let the other person be as stressed as you obviously are, if there was anything we could do about it.
You need to sit down with your husband and have a serious (calm and rational) talk about your current financial situation. He is mad that you gave money to your parents without discussing it with him (by the way, I'd be mad too, don't do that again), and you get that, but you can't change the past, you need to figure out the present, and learn from it for the future.
*Edit because it looks like a couple people had the same thought while I was typing mine. But I stand by my statement that your husband needs to get more involved here. You haven't been able to dig out yourself, so it is now both of your problems, not just yours.*
My husband is great and is paying what I can't pay right now but the interest is just killing me on anything I make. The number of what I make and the bills I have is after the payday loans are gone. Right now almost all of my checks go to them and I'm just paying the interest. Can't make any headway on them.
I would rather pay them off then be hounded by debt collectors. I guess my only option is bankruptcy
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