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2 Bumps

Bad Check. WWYD?

So Dh got not a very good comission check so after paying rent. We have $430 left so we still need to pay our car payment $400 and insurance $130, food for the next two weeks at least $120, and gas to get to work for the next two weeks $90. What would you do??
Not pay the car payment and risk it getting repoed( our only car) and pay the insurance and get food and gas for two weeks? or Pay the car payment and scrape for food for the next two weeks and not be able to get to work and not paying car insurance.

Anyways what would you do?

Answer Question
 
Anonymous

Asked by Anonymous at 1:43 PM on Jan. 1, 2011 in Money & Work

Answers (20)
  • I wouldnt pay my car payment.... I would pay everything else and call the "lender" and ask for an extention! GOOD LUCK! I know how hard times are now. Good Luck!! May you run into some money soon ;)
    kiansmom0423

    Answer by kiansmom0423 at 1:45 PM on Jan. 1, 2011

  • I would pay the car because you are risking it getting taken away. Maybe take out a pay day loan?
    mommy_of_two388

    Answer by mommy_of_two388 at 1:45 PM on Jan. 1, 2011

  • Call the car company and see if you can (a) defer a payment or (b) see how much a late fee would be.
    But_Mommie

    Answer by But_Mommie at 1:46 PM on Jan. 1, 2011

  • Well personally I would not pay the car payment and then get it caught up as quick as possible and call and talk with the lender. If you have never missed a payment the likelihood that they would repo after one late payment is pretty slim.
    aeneva

    Answer by aeneva at 1:47 PM on Jan. 1, 2011

  • I was able to defer 2 payments a year on my car loan. Good luck! Communication with them is key.
    dancinintherain

    Answer by dancinintherain at 1:49 PM on Jan. 1, 2011

  • you should call your bank, usually there is a grace period on a loan..you may be charged more interest or a late fee though, check with local food banks to see if you can get a food basket. The insurance you are definitly going to want to pay but you may be able to hold the car payment off for 2 weeks until your next payday. If you can get even a small amount of food from the food bank and eat inexpensive meals you should be able to swing the money for the gas. It is difficult living paycheck to paycheck especially when something unexpected comes up...you will make it through though!
    foxracing43701

    Answer by foxracing43701 at 1:49 PM on Jan. 1, 2011

  • Call the people that have your car note and ask them to move this month's payment to the end of the loan.
    Jenny-talia

    Answer by Jenny-talia at 1:50 PM on Jan. 1, 2011

  • been there. my dh makes a decent check but in winter times it is a lil smaller and hard. ontop of bills mortage and HIS child suport we have a car payment. we always pay our car payment once i did move my payment date to even out when everything else was due but one month things were really hard i called the car comp and aksed if i could pay them at a diffrent date they said that was fine. and put a note on the account that i did call and asked so its noted. and when i was able to i made my full payment along w/ the 20.00 late fee. its hard when u have to make a tough choice and a lil scary but i know i wasent alone. good luck.
    tabbys4

    Answer by tabbys4 at 2:01 PM on Jan. 1, 2011

  • We get paid 2x/month and sometimes some of the bills (car payment, mortgage) have to wait and be paid late. The banks that hold our car and our mortgage have told me that if we will be late to call and let them know, and they will put a note in the account that payment is going to be late and not to call about it.
    So what I would do if I were you is call your car loan bank and explain the situation, maybe they will work with you or allow you to be late on it. I would also call the insurance company and ask if there is a 'grace period' or if you can make a smaller payment now and pay the balance at a later date. As for food I would buy cheap but filling things, and I would also check out the local food pantry (if you have one in your area).
    MizLee

    Answer by MizLee at 2:05 PM on Jan. 1, 2011

  • My recommendation is:

    Food comes above all else just for starters... There are other ways to help obtain food when you hit a struggle spot. If I were in that situation I would call my bank and ask for the courtesy to defer your car payment to the following month. So you're not playing catchup there.

    I would find out where my local foodbank was, and I would go there for help with some extra groceries. I would also write out a meal plan prior to shopping for food. I would write out each meal we were going to make until the next payday. I would buy what we needed for those. print coupons from ( coupons.com ) it's SO easy. Use that to help save, also buy store brand items.

    As for my insurance I would call and see if I could defer a payment with them as well. A lot of places are willing to work with you on things and you just need to ask them. :D

    I hope things look up. Just cut where you need to to prevent future happenings
    Skepticchick

    Answer by Skepticchick at 2:08 PM on Jan. 1, 2011

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