Need Advice on How to Start My Life Again

gozyla86 on 10/02/2018 - 15:46
Last edited 12/02/2018 - 15:30 by 1 other user

Hi All,

I am in the process of divorce. It is a rough one. I lost everything and bring with me around 13k CC debt and 50k Car loan. I was kicked out of the house and was living in my car until last few weeks. I have an injury that prevents me to work, I am under WorkCover compensation.

What I owe:

  1. 3 Credit cards: CreditLine, Gem, and CBA with a total amount of 13k (which I use for my ex-family appliances,solar systems, and furniture. repayment for all 3: <400/month
  2. Car Loan: Esanda still has more than 5 years and 50k on it. Repayment 1k/month. But I am 4 months behind now.

What I earn:

  1. WorkCover Compensation: 1800/month

I am trying to start all over again now.
Should I try to sell my car and set back for at least another 10k in debt and no car to run?
What should I do at this point as I am thinking of giving up everything?
Money from the divorces is uncertain as nobody knows the outcome of the court until all is finish in the next few months.

Edit:
Thank for all comments, good or bad.
I am not blaming my ex for anything as we have different life now and would prefer my daughter - Izzy able to see her dad and mom are in good term.
I bought the Jeep Wrangler Unlimited 2016. And I was thinking it is not only a cool looking car, but big enough to become a family car. It have 43k on the clock now after 1.5 years. It was working hard for my ex-family. Let hope it will do me one last favour to score a good value when I put it on-sale.
The court will going on for a few more months after this Hearing on Feb 27th, 2018 before finalize. So I am not rely too much on that kind of money, tbh.

Financial

Comments

  • Herbse on 14/02/2018 - 00:02

    I really hope this is one of those made up threads people make up just to get to the top page.

    Speak to a proper, government funded assistance program to talk about your options. Not the internet.

    • h4zey on 14/02/2018 - 09:54
      +2

      judging from his previous post, i don't think he made this up and what's more important is reaching out when you need help, regardless if it's a forum or not.

  • Larkdord on 14/02/2018 - 14:21
    +1

    Haven't read through all the comments but here is my advice since you asked.

    • Keep the car and depending on your health situation I recommend driving for Uber until you get back on your feet.
    • Speak to the credit card companies and re-nogotiate min payments - trust me they will agree if you say your only other option is declaring bankruptcy
    • Do not declare bankruptcy on ignore your credit rating , I repeat Do not declare bankruptcy on ignore your credit rating (missing min payments)
    • Accommodation wise ask someone you know can help you out temporarily I am sure you will find someone in you circle that can help you out
    • In terms of relationship wise what ever happened has happened, get your shit together have some balls to not give up based on some else's choice to screw something up. Be a man.. as Russell Peters says.
    • Remember one door closed will ALWAYS open another window/s you just have to hang in there..

    And finally with time everything will heal, you just need to sail through the bad times.

    • wannagrababargain on 14/02/2018 - 17:31

      I would agree with this post since selling and buying a car can be very stressful in itself, now is not the time to add more stress. Focus on getting back on your feet emotionally and accomodation wise.

    • gozyla86 on 29/04/2020 - 20:55

      Hi Larkdord,

      I did not sell my car at that time. And I already paid off the whole car loan (minus a few hundred dollar fee).

      Thank you for your genuine advices

  • Drifter on 14/02/2018 - 20:31

    OP, I'm sorry to hear about the psychological and physical abuse you have endured at the hands of your wife. Living in your car might seem awful, but it might actually be the better option at this time. It might be worse for you to be in the same environment as your abuser.

    You said that you're thinking of giving up everything. That statement really worries me. Always remind yourself that there are people in your life who love you and need you and want you to be around. Talk to friends and family regularly. The worst thing you can do right now is to bottle things up.

    This is a temporary setback. You will bounce back. I sincerely wish you all the best. :)

    • gozyla86 on 29/04/2020 - 20:56

      Hi Drifter,

      I am back with no debt (maybe a few hundred of early payment left), a cheap rental place and a job.
      Thank you

  • ggkfc on 15/02/2018 - 15:05

    all on red

  • OzOz on 19/03/2018 - 08:58

    I suggest reading 'The Barefoot Investor' by Scott Pape and joining one of the BFI facebook groups who regularly share their real life tips. Simple steps to get out of the financial black hole. All the best 👏

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