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I've got to make a decision right now but i really don't know which way to go.

It is all money related. I absolutley have to pay $360.00 on the mortgage tomorrow, and i am suppose to pay the other 336.00 on the truck . I made a partial payment last friday and told them i would pay the remaining this friday. The payment was due on May 4th so it is about 1 month late. Anyways i have checks out also. Three i think. One to a doctor , one for gas and one for grocery. And I will have $700.00 tomorrow. So after i pay the house payment do i pay the rest of the truck, or put it in the bank to cover the checks, or do i let them be returned and get all the fees.? When i talked to chrysler last friday and told them i would make the rest of the payment this week, i asked them if that would keep them from looking for the truck. She said she couldn't say because the loan was under 2 years old and still considered new. So i don't want them to repo it. So how would you choose to pay for things. I am so worried right now.

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Anonymous

Asked by Anonymous at 1:44 PM on May. 28, 2009 in Money & Work

Answers (7)
  • You have over extended yourself there haven't you..Pay the mortage..You need a place to live..Leave the rest in the bank tell the checks you have already wrote clear the bank..Then put the rest that is left on the truck
    louise2

    Answer by louise2 at 1:52 PM on May. 28, 2009

  • Bless your heart darling. You have to cover the checks and the mortgage. While no one likes loosing their vehicle, you will like it even less if you're in jail for bad checks or hiding in the house afraid to drive that vehicle because you have warrants. I doubt that they will come for the truck - but make SURE that you keep in contact with them. Do not, no matter how strong the urge, dodge their calls; that always makes it worse.

    Mortgage, checks then truck...... just like Louise2 said.
    PaceMyself

    Answer by PaceMyself at 1:57 PM on May. 28, 2009

  • thank you for your answer, however you didn't need to point out the obvious. And FYI i wasn't overextened until i had to pay $5000.00 for surgery for daughter that the bull crap insurance denied. I am doing my best to get caught up, but it doesn't happen overnight. My little savings and 401 k is gone, but that was worth it for the health of my child.
    Anonymous

    Answer by Anonymous at 1:58 PM on May. 28, 2009

  • First is a roof over your head hear or A/C and food. Do you have more than 1 car? Stop worrying about it. They usually won't repo it unless it is 3 months arrears anyway. Pay the checks, You are going to owe three times what you owe now on them if they bounce and if they get to far behind you won't be able to shop where you sent the checks to and you may end up with a warrant if for some reason you can't pay them soon. If you ever have Dr bills that send you a bill to be paid ,make arrangements to pay a minimum of what you can afford and if you can't pay it all pay what you can and you won't have a problem if you don't do it often. They will just keep sending you a bill. If it's not much just pay without arrangements. I have let medical bills ride for 3 months before without a call from them. t's a good place to skimp on if you are in a pinch.
    itsmesteph11

    Answer by itsmesteph11 at 3:15 PM on May. 28, 2009

  • It seems like that the $5,000 for the medical bill could have been set up in payments. So that shouldn't have created a sudden lack of funds. But what do we know? We only get part of the details in order to help answer.

    Next, the first two responders did an excellent job at advising you since you are sincerely up to your eyeballs in fear and dread. I would be sure and write down everything in black and white so that you are able to see where every dollar is being spent and where every dollar needs to be placed. A good written plan will help you at least feel like everything is in control.

    If you have time, do some quick research at Dave Ramsey online and also Crown Ministry. There are excellent tools to help you set up a good workable budget and advise on how to handle these kinds of situations. :) Hope we all have helped, even just a bit. :)
    lifeasinoit

    Answer by lifeasinoit at 4:27 PM on May. 28, 2009

  • Is there anyway that you can get out of the car lease? this seems like a lot of money for someone with financial difficulties to be paying.
    rkoloms

    Answer by rkoloms at 6:14 PM on May. 28, 2009

  • Have you tried selling the car or trading it in? You'll be upside down on it but hey its better than getting it repoed. If you haven't already try applying for TANF its temporary assistance for needy families usually they can give you cash to get you back on your feet. You could also apply for food stamps, medicaid etc. Not trying to insult you at all but if you qualify why not? It sounds like you really need it. You'll have to pay your mortage first. They'll evict you faster than they'll repo your car. I wouldn't write hot checks though. You'll get the fees from the bank which is usually $30 per check, then you'll get the fees for writing the hotchecks from the company you wrote it to, then you could get turned over the hot check division. You're better off just sending in a check for $5 you can cover then one for the full amount you can't. You'll only get more in debt with all of those fees.
    Anonymous

    Answer by Anonymous at 9:13 PM on May. 28, 2009

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