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Current debt

September 29th, 2012 at 11:19 pm

That attached spreadsheet shows my current debt as well as other things which I need to take care but haven't yet. I did not put my mortgage or my car paymewnt on here as they are both longer term debts which I am not focusing on at the moment.

9 Responses to “Current debt”

  1. Jenn Says:

    Can't see the attachment

  2. Nika Says:

    You are in crisis mode right now, but you are now willing to face the reality and this is the first step.

    When you owe IRS, behind on your mortgage and utilities, how on earth can you justify having a bike?

  3. Wino Says:

    You need to rework your budget. You have total amounts mixed in with monthly payments. You need a debt worksheet (total amounts) and you need a payments worksheet (monthly amounts) as well as an income worksheet.

    The three of these will then be able to be manipulated to help you attack your debt. I'm not going to say you need to sell the bike, but you definitely need to get your payments caught up. If you STOP BORROWING, you might be able to get by with catching up on your income, but you need to balance your budget first.

  4. NJDebbie Says:

    The repairs to the Harley, I suspect could've waited since you have two cars.

  5. bikerjohn Says:

    the bike service is not the highest priority. I expect to be able to do it sometime in nov or dec. as far as vehiciles go, the tires / oil on the kia are higher priority

  6. Xtreme Thunder Says:

    Do you expect to have your mortgage and auto loan current before you put any money into repairs on the bike?

  7. bikerjohn Says:

    I am going to talk to the mortgage company tomorrow. Hopefully we can work out an arrangment where I can pay a few hundred a month for a bit to pay the behind payments over time.

  8. crazyliblady Says:

    Have you considered selling at least one of your vehicles, the bike for example, in order to help get up to date on the mortgage? After all, your credit rating is more important than the bike.

  9. bikerjohn Says:

    I actually have considered it a few times but I decided against it for now for a few reasons. One of them is that I can use that for an absolute last resort, meaning if I were to lose my job now and couldn't pay the rent or feed my family I would sell it. I do need to keep something for in reserve for a worst case emergancy. Also, now that the wife is working, monthly income is a bit higher so I can start working on my list. I should be able to get things caught up without having to sell it.

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