life insurance tax shelter
Help! I am in dire need of good advice.?
I feel like my life is crumbling around me. I was just notified today that although I tried of being trapped in my second mortgage that the bank is starting forclosure action anyway, after several payments ensuring me. My husband has just found out that his driver's license was suspended for three months. I can not afford auto insurance, health insurance and who have neither. Now I'm worried I'll lose my house on top of everything else. What will I do, where we all live. If only I, I would not be so worried. I have two teenagers I have to have a shelter. My credit score is so bad that I worry if I lose my house or even be approved for an apartment. Above all I learned that we owe the 6K IRS in back taxes, to be paid by the end of the month. Ha! Someone please tell me there is no light at the end of the tunnel and not going to be a train.
It sounds like you have a lot of complications, but since none of their situations occurred during the night, I'd say you had a clue what was coming. The main issue is that you are living in a house that is too expensive so we can not keep up with payments, but also who are trying to live a lifestyle that can not be paid. It is time to develop a plan on how to increase revenue or reduce spending and not too late. Bankruptcy can be an option for you. Consumer Credit Counseling could be another. I am providing a link below for you to investigate where there is a local CCCS agency near you. Obviously you can not on its own budget. You may want to ask teens to help with part-time jobs to cover at least some of your expenses if nothing more. I do not think the loss of the house is going to hurt … that might be a good way to release their income to afford a less expensive place to live. Stop spending per beyond their means. You never get ahead if you are paying for things you want instead of things you need. The last thing the world needs is more of the debt so you do not even think of trying to get a loan … you can not afford their lifestyle. It's time to make changes. Get a part-time employment … take in a border … sell things you have around the house … do what is necessary. It's all going to start with a plan. This agency works with credit counseling agencies:
