I was able to talk with a Dave Ramsey counselor today. We discussed my income and the level of my debts and how fast they’re growing. I’ve been working the plan just as prescribed and I’m on the right track. I just need to keep working on getting my income up as much as I can, which I’m doing.
My counselor suggested paying $10 or so each month to the creditors I can’t make a real dent with right now and focusing what money I do have on the next debt in line in the snowball and get it paid off. That will put more money toward paying the debt, and less maintaining a relationship with the other debt collectors. Basically, I stop paying on a pro rata basis and start paying a flat rate. That will leave twice as much money to pay on the lowest debt than I had on the pro rata plan. That will make a big difference in making the money I have work harder for me.
I am making progress. I’ve paid off 6 debts. I’m just discouraged because I’m not making any headway on the back end of my snowball. I’ve got to keep plugging along and work toward getting a bigger shovel (more income, a lot more).
I’m going to try this over the summer and work on increasing my online income while I’m delivery pizzas and tutoring. We’ll see where I’m at in August.
If it gets too tough to handle or I’m not making progress, I can always file for bankruptcy at any time. I found my pre-bankruptcy counseling certificate and I have all my paperwork in order. All I have to do is take it to my attorney. I’m going to keep it ready to go and that is my fall-back position for now.
Need to Get Medical Insurance
This is one of the “inside your own 4 walls” issues I haven’t taken care of. Before I put more on the debt I need to get with the local health insurance ELP about what coverage I could at least get for myself. I need something to cover me if I get really sick and need to go to the hospital. As far as I know, if I needed a hospital stay I could go to the public hospital (Earl K. Long Hospital) and my costs would be waived for lack of ability to pay.
My son is on Medicaid, but I only use it when it’s something bigger than I can handle. I pay cash for his routine doctor visits or when he needs to see his pediatrician when he’s sick. Medicaid pays for his prescriptions because they are really expensive but vital to his survival. They would reimburse me for my expenses, but I don’t do that because I can manage my costs okay on my own so far.
I don’t want to stay in this position any longer than we have to, so I’m seeking reasonable coverage for both of us that won’t break us financially. It may require that I keep searching for a solution for awhile. I have been searching for 2 years now, but things are changing and more products are becoming available in a more competitive marketplace.
I am not sure what the future holds in store for me in such matters but I can guarantee that I won’t allow the International Debt Collection Agency to dictate terms on how to live my life because I have made it clear that I would work out a solution to ease things out even if I have to file for bankruptcy in the near future but one thing is for sure that I won’t bow down before the authorities to do their bidding to clear out on legal issues.
The only reason we don’t qualify for food stamps is I have an IRA. The state considers that a usable asset and won’t award food stamps to anyone who has any usable assets, no matter what the tax consequences or how that asset is viewed by any other law, like the bankruptcy law.