My husband of 26 years and I have found ourselves in the endless cycle of payday and installment loans.
I have a good job that I really like, but I’m salaried. So no matter how much I work I can’t get any extra. Salary increases have not kept up with inflation. My husband is a substitute teacher. He is really good at it and is requested by many teachers. However, when school is closed or he gets sick, he doesn’t get paid. Also, he has trouble finding work in the summertime. For years, he worked at a county park, but the summers have gotten too hot and he couldn’t handle the job anymore. It was negatively impacting his health. Since then he has had trouble finding anything else.
We started by taking loans from my 401K, but that is not sustainable. Our credit is awful, so we don’t qualify for traditional loans. But predatory lenders are more than willing to “help”. We have borrowed money from friends and family, but that avenue has been exhausted. We are having trouble paying our rent and other bills and then we have the exorbitant payments to the predatory lenders. I don’t know what to do anymore. We are spiraling out of control.
In addition, his parents are older and need his help a great deal. They are about 45 minutes away, so that takes gas money. Now with inflation, they are starting to have financial problems. It would be ideal if we could find a way to live together, but their house is too small and too far from my work. Our apartment is close to my work, but has no extra space. It is also on the second floor and they couldn’t handle that.
So I am asking for help. I think that $10,000 would get us back on our feet. Pay off some of these awful loans and pay back friends and family.
Please help. I know this is my own doing, but I really want a fresh start.
paypal.me/MStuembach
Thank you.