I inherited a debt of more than half a million without any assets to liquidate and pay and neither have a backing or business to repay.No one trusts my family because of my father and have been into worst time ever one could ever see.Myhouse is alsomortgaged with bankers which is going to beauctionedone fine day. Have no cousins or friends to help. I have no business so far and what ever i did was screwed by my father. Had to trust my father when i was not aware about all the debts he had. Now i know the entire story of his and have noplace to go and am living with pain everyday without a single penny in my pocket. My life has been worst and everyday has been a new learning experience and a new discovery about my father's past. cant say anything tomy father, Cant leave my house or family cause need to take care of them. cant do a job since my debts are huge. Am trying to do some business in steel but everything needs some money to start. Please sugess what do i do to and how to repay.
202972
first you need to consolidate his debt.  it is true life is not fair but be happy you have your health and a family try to get a loan to start a business in steel but make sure you do ur homework as you have more on te line than your average entrepreneur.  you must take a huge risk to reap huge rewards.  if you choose to be cautious consult a financial planner and or creditors for advice.  good luck sir and may all your problems end like bad day when the sun sets.
255284
Ooooohh ... that's a really sticky situation.  My guess is that you're going to have some big family problems with this one.  Have you told the executor that the debt was forgiven?  Do you have it in writing?  If you don't have it in writing that the grandfather refused to accept the money and the debt was forgiven, you're going to have a really hard time proving anything.  I'd retain a lawyer if you're going to fight it.\n\nAlso, you should consider if the damages to the family relationships are worth the $60K.  Some family feuds can go on for years and years.
344045
sorry for your loss.  well, i'm not sure why you can't sell.  that really would be your best option.  even if things get back on track, you are "mortgage-payment poor".  you need to find something more inside your means.  hopefully you don't owe more on the house than its worth.  if you do, maybe bankruptcy is your option.  a chapter 13 allows you to setup trustee payments for the deficiency balance, and resume normal payments once a month.  that way you dont have to worry much about the past due amount.\n\nhave you tried refinancing?  there may be an option there.  if not, maybe you can talk with your mortgage company and setup a forebearance agreement (a payment plan BETTER than the one you have, that would help you get caught up).  do you have equity in your house to do a 2nd mortgage and consolidate any other debts you have?   maybe doing that would save money monthly from your budget.  i don't know, just some suggestions for you.  good luck... it will work out eventually.
279688
Oh yeah, I have suffered a lot if I tell you how much? may be you won't believe, therefore, I won't mention in figures. \n\nFriends do know that I won't refuse and they tell me various stories to borrow money but they never return.\n \nSome people have said, I must change my habit of helping people.\n\nThe most common way of borrowing is like this:\n\nHello, Hi, how are you doing? Un... in fact I got very serious problem/sickness/family problem. Right now I am badly in need of money and surely NEXT WEEK I will return you.\n\nThat next week become month then year and then years.\nAccording to my experience those who want to borrow money they won't return. Therefore, it is said, never lend Money and Wife it will not come back.\n\nnihon94@yahoo.com
87157
Hey I'm going through the same thing right now!!!! I have walked out before but it was EXTREMELY HARD to find another job and guess what the one i have now is WORSE!!!!! I hate everyone here to but my problem is that i don't take anyone crap!!!!! I tried to fix a problem i have been having here and it only slapped me in the face, for me i cant just walk out because I'm scared of not finding a job quick enough so i don't fall behind in my bills!!!! I'm trying to stay but I can relate to you.... If you can afford to leave then just walk out if you cant and need this money then stay and look for something else you might have better luck then i did GOOD LUCK hon
292306
He should have designated someone as the executor of his will. Maybe a close friend? If there is anything for you in the will, you will find out soon enough, as you have to be notified. I am so terribly sorry for your loss, and if it makes you feel better, sneak around and do what you have to do to obtain what is rightfully yours. Fight fire with fire, I say.
254218
MY DEAR MAN HOW COME YOU HAVE MANAGED TO BECOME A DEBT-ER TO THE TUNE OF 5000$. IT IS REALLY A PITY TO HEAR THIS, UP TO THE AGE OF 53 YOU HAD MANAGED TO GET ONLY 5000 $ VERY POOR.\nNOW PEOPLE THREATENING YOU, MEANS THAT YOU HAVE TAKEN A HAND LOAN FROM WHOM SO EVER GIVING YOU, NATURALLY THE HARD EARNED MONEY MADE BY OTHERS ARE WASTED LIKE ANYTHING BY SOLES OF YOUR TYPE AND HOW DARE YOU ARE TO ACCUSE OTHERS IN TURN. I DO NOT KNOW WHAT LAW APPLIES IN YOUR PLACE TO COME OUT OF THAT.\nIN MY OPINION  YOU HAVE TO SURRENDER TO THE LAW AND TAKE PROTECTION. SECONDLY SELL ALL YOUR BELONGING AND REPAY AT-LEAST THE PRINCIPLE AMOUNT TO THAT PEOPLE FROM WHOM YOU HAVE TAKEN THIS MONEY.HEVE SOME UNDER STASNDING WITH THEM TO REPAY THIS AMOUNT OTHERWISE YOU HAVE TO MEET THE COSEQUENCES. NO ONE WILL COME FOR YOUR RESCUE EXCEPT ALLAH IN WHOM YOU BELIEVE. WISH YOU GOOD LUCK
321971
Hey, stay with your dad. out of the three he loves u the most and plus he helped create you. This is what my parents tell me, " a friend is just a penny in your pocket, you can easily lose it." Another thing, your friend or bf will help you...but if u get hurt, if u need to buy something, i dont think theyll get it for you
564834
Have a list of your assets and debt, and bring that with you to speak to the local banks.  Keep trying at banks or credit unions until you find someone you can borrow from.\nBanks are mostly interested to know you can pay off the money you borrow.  Have documentation of bills you've paid off.
145684
Spend time with your family yeah you might need the money but i grew up without my dad and with only my mom taking care of me and it sucked cuz i bearly even saw her she was always at work or with her friends.Now she regrets it but still......... PLease take my word for it go with your kids.. They will be happy..... good luck hop you choose me.....
175649
It seems like these issues would have been settled\nduring probate after your father's death.  Since\nyou were a minor, I can understand that your aunt\nmight have been assigned to handle your assets\nuntil you reached majority, but it sounds really\nfishy that you weren't told about the details when\nyou reached 18.  Actually, I think it's pretty weird\nthat you weren't at least *told* about the land when\nyou were 15.\n\nI'm not qualified to give legal advice, but it seems\nto me that the *worst* she could do is to bring a\ncivil suit against you in order to recoup the taxes\nshe paid while you were a minor.\n\nConsider this, though.  Once you turned 18, there was\nabsolutely no legitimate reason for her to continue to\npay those taxes.  Apparently, she volunteered of her\nown free will.  If she had told you about the land, it\nwould have been your responsibility and she would not\nhave had that burden.  I don't think she has a leg to\nstand on for claiming the taxes she paid after you\nbecame an adult.  I wonder if her behavior rises to\nthe level that it would be considered fraud; it *appears*\nshe was essentially trying to cheat you out of your\ninheritance.  Like I said, I'm not a lawyer, so I'm\njust musing about this.
82078
You're either referring to "intendance", having to do with the care, handling or management of funds, or you mean "inheritance".  None the less, this individual showed immense selfishness, simply using "God" as a scape goat in order to "justify" his own actions.  All you can do at this point, is move on and take care of business.  When we lose a loved one, it's unfortunate that there are those in the family who reflect such thoughtlessness.  Very sorry to have read of the sad and frustrating time you are going through.  I would definetly avoid enabling that particular individual by giving him ANY money out of your share.  So don't use any energy towards "should we?" or "shouldn't we?".  You can certainly be there for each other without enabling anyone.  Take care, okay?  You will be fine.  Again, I'm very sorry for your loss.\nPS. PLEASE,...DON'T make your brother's failure to pay taxes ANY of YOUR concern!  It sounds as though he is "making his own bed".  You lay in YOUR own bed and let HIM lay in HIS own bed.  You're gonna have all the hair pulled out of your head by the time it's all said and done!  You don't wanna do that?!  We CANNOT make ourselves responsible for anyone elses actions.  I know you love your brother, but please remain separate from pickles that he gets himself in to.
398419
oh, honey. I'm so sorry you are going through this. You have to work out your own salvation. Your parents can't do that for you. You must raise your children in the way they should go and they shall not depart from it. I don't know what this C.O.C. believes and have no opinions in that matter. I do believe, though, that it is wrong to turn your back on your children. Look at the story of the Prodical (hope I spelled that correctly) son. He left with all of his inheritance and his father accepted him back.  I do pray that God will give you peace in your situation and that he will open a door for you to walk through that is right. Ask for wisdom and he will give it to you.
339894
Don't panic. You need to deal with this problem like all problems in life with calm and confidence.\n\nIf your income is less than your expenses there is no way you can get out of debt. So, first step.  Is it possible to cut down your expenses? Evaluate the following  home rent, expenses for cable tv, internet connection, mobile phone, long distance telephone provider  and other utilities- do they all cost the lowest rate possible. \n\nIf not shop around and get the best deals. If you call only one or two people frequently then switch to some connections like friends and family which give you the lowest rates for 2-3 phone numbers you choose. Cut down on things you never use or which can be postponed. If you don't use your internet connection - get it disconnected. You don't need the cable connection - get it cut too. Till you are firmly back on your feet you may have cut out some luxuries. \n\nCall up your credit card company and ask them if they will lower your credit card interest rate. As you have good record of paying on time they will surely consider your request. A lower interest rate is like getting a cash back. For example on your debt of 18,000 dollars at 20 percent interest you will be paying 3600 dollars per annum in interest alone. Cutting down the interest rate to 10 percent can bring down your interest to 1800 dollars. That means you save 1800 dollars in interest which you can use to pay your principal. If you promise to pay on time they may even waive your late fees. So, make that call to your credit card company. If you have more than one card then transfer your debt to the lowest interest card, that should also save lot of cash.\n\nCan you get another job? That should help you go a long way in cutting down your debt. If you daughter can pitch in by earning a few extra dollars through some baby sitting or cleaning neighbors yards that should help too. Many such jobs will be posted at the local supermarket. \n\nIs it possible to get a raise at your current job? If not try to find a job that will pay you more. Most important don't lose your confidence. You have done a fine job till now with a little help you would definetly do better.\n\n You should also go to debt counselors who will give you more advice on how to tackle your debt with the income you have.\n\nBest of luck.
326919
Your story breaks my heart, and the sad thing is, so many people across the country have a similar story. People today have not been properly taught to manage money. It's also pretty difficult since cost of living increases have risen exponentially and pay at most jobs has increased minimally if at all.\n\nCredit cards are a very dangerous thing. My best advice is to cut spending to a minimal. Cut out the things you don't need. Make out a monthly budget for you and your family and stick to it as best you can. Allow for emergency and a little for entertainment, but be careful about spending more than you need to.\n\nIt's OK to rely on family and friends for help. Ask people to babysit for you when you need them to. Have them help you look for a new, better job.\n\nIt's going to be an uphill battle, but you can do it. You have to for yourself and for your kids. Good luck. :-)
660991
First do not take out any type of loan or mortgage against your dad's ranch, especially to start a business. The chances are too great for both of you to lose everything. Next, your dad is a little too old to try and start a business from scratch. Your dad is at the age that if something goes wrong with his health then you may need that money to help him.\n\nSecond, you being 20, you have your whole life ahead of you. It's great to think about starting a business on your own but it takes hard work, a lot of money, and many more hours devoted to getting the business going then just 8 hours a day.\n\nNow, here is a suggestion. As for the 30 grand, let it sit for a while and look into investing it "safely". Check out the website I listed below. Order his books and read the material. There are other options such as investing into "tax lien certificates". \n\nType that into your search engine and read the info on how to invest.\n\nI would rather see you invest a little bit of money into educating yourself then to take a risk like starting a business with the possibility of losing everything. \n\nAt the website below, read what Robert is telling you about risk and control. Then decide. Make sure that both you and your dad agree on the course of action that you both want to take.\n\nBy the way, I am 55 years old, I had my own contracting business for over 20 years and am now a "silent" partner in that same business. Which means I am still the ceo and receive an annual income from the business. I have met Robert and his wife Kim from one of their seminars. His information is solid.\n\nYou being 20, here's a secret for you. You and your Dad have 30 grand. Take about 10 grand and try to make that money work for you. Your goal is to double that amount in a short period of time and then reinvest. If you lose then all you lost was the 10 grand.\n\nHope this helps - best of luck
337523
Call the lender (or, possibly the collections agency if your situation has gotten to that point).  Many companies are willing to work with you because defaulting on a loan is bad for their business, too.  However, you have to show them that you are a responsible borrower:\n\n1.  Explain to them what happened (tell them just what you told us here)\n2.  Tell them that you will take responsibility from now on (the loans will always be in your name, so even if your mother still plans to pay them off, you should still keep a watchful eye on your account balance to make sure that she is never late) \n3. Ask what repayment options you have at this stage.  Some lenders will put you into a forbearance in order to alleviate your payment problems.  Other lenders will recommend that you consolidate your loans in order to lower your monthly payment.  Others will, as you suggest, devise alternative payment options called an "income contingent" or an "income sensitive" payment plans.  Ask them if they can do this and, if so, whether they can make your payments close to $50.  Generally, once you make 6 consecutive payments on time, you will be out of default, which will help your take-home wages and your credit report in the long run.\n\nRemember, too, that collections agencies deal with a lot of lazy people -- show them that you are different.  If the person you speak to is having an "off" day or doesn't seem willing to help you, try again.  Consider asking your former Financial Aid Office to contact them on your behalf (I have done this for students) -- sometimes they are more pleasant when dealing with someone "in the business."\n\nFinally, one of your rights as a Stafford or Perkins Loan borrower is that you be allowed to speak to an ombudsman when things get rough.  You can find one and learn about what they can do at http://www.ombudsman.ed.gov/  (Basically, an ombudsman is an individual who resolves disputes through an independent viewpoint; they do a lot of impartial fact-finding to make sure that you have been treated fairly.)