Real Answers for Life’s Money Challenges
Im a 56-year-old divorced woman.
I live by myself and have a full-time job.
Last year, I had a heart attack and was out of work for five months.
It wasnt until after I returned to work that I found out that I had qualified for short-term disability.
While out of work, I had to borrow money from everyone I know.
I paid back everyone who helped me.
It took every cent of that $5,000.
I was at my wits end.
This seemed like the only solution.
I lost over $400.
I work so hard, yet I cant get ahead.
Every week, Im falling deeper in debt.
I suspect the latter.
Opening up to even one person you trust could provide you with the emotional support you need and deserve.
Having that conversation with a bill collector is intimidating.
Explaining the situation to a loved one first prepares you for the tougher talks ahead.
If thats too scary, consider attending aDebtors Anonymousmeeting.
No Interest Til Almost 2027?
But medical and credit card bills?
If you dont pay them, theyll go to collections.
Your credit score will take a major hit.
They could garnish your wages, but you might appeal that.
These are the worst-case scenarios, though.
Its way more likely that theyll negotiate with you if you call and tell them you cant afford payments.
If you still have medical bills, start there becausemedical debtis among the most negotiable debt out there.
Hospital billing departments and doctors offices are often willing to work out payment plans.
Some auto lenders have similar programs.
Use any reprieve youre given to get your car safely running if you truly need it.
But let your mechanic know that you cant afford $1,300 and new tires right now.
Maybe some repairs are urgent, while others can wait a few months.
You might also considercredit counseling, which will give you a better sense of options for your specific situation.
What I want most for you, though, is for you to get past your shame.
You got here because you had a heart attack and couldnt work for five months.
Both of these things were beyond your control.
The $400 you lost is minuscule in the bigger picture.
Treat it as a one-time lapse in judgment that occurred under extreme stress then forgive yourself.
The thing I want you to remember is that you are so much more than your debt.
You just survived a health crisis, and youwillsurvive this, too.
Robin Hartill is a senior editor at The Penny Hoarder and the voice behind Dear Penny.
Send your questions about debt to[email protected].
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
