Whether it's your first Bonnaroo or you’re a music festival veteran, we welcome you to Inforoo.
Here you'll find info about artists, rumors, camping tips, and the infamous Roo Clues. Have a look around then create an account and join in the fun. See you at Bonnaroo!!
Post by rpgreligion on Dec 6, 2009 22:05:03 GMT -5
So I've found myself in a bit of a financial situation (well, really I dove into it headfirst).
The background information:
I'm 20 years old living in small town NC where the job market is absolutely terrible. I've been working at a little gourmet grocery store since late 2006 for $8.50 an hour. Last May, I started having serious car trouble, and found myself out a car, and no way to go to and from work.
I went to a few different dealerships (first mistake), and eventually set up a meeting at a Kia dealership. The beginning of the end of financial stability. I signed a contract for a brand new Kia Rio. Nothing down, a 6 year contract, and a hell of a loan. One of the top two or three mistakes I've made in my entire life.
At the time it sounded wonderful, so I took the bait. A brand new car meant no more car trouble, at least for awhile, something reliable is what I needed. At the time I was making about $900 a month, and was about to land a better job (didn't happen). I knew a $300 car payment would make things a little tight, but I figured I could handle it. Naive, to say the least.
Things have changed since then. I've been struggling to make the payments for some time now, not to mention all my other bills. I took up a second job to catch up, and although its helping a little, me working my ass off doesn't really seem to be putting a dent in it. I may be facing a layoff from my primary job due to slow business, and even if I don't, I'm barely getting full time hours (28 a week sometimes) and have not gotten a raise in 3 years, not to mention I'm genuinely unhappy there. I've had 3 days off in the last 40 between the two jobs, and the fact that I still haven't begun to even catch up on what I'm behind on is really disheartening. I'm starting to feel very exhausted and more than a little broken. Money is disgusting and the lack of it is really starting to bring me down. I never should have even considered a new car, when all in all, I'm just a kid in a post-high school transitional phase trying to figure out exactly what direction I want to go in. With all the financial woe, I feel like I'm stuck, going nowhere, and there's no feasible way to get going again.
Now I've decided I want to enroll in school next fall, but with this car payment, plus rent, utilities, insurance, gas, and food there is no way it will be possible. The car is by far my most hindering expense.
Earlier today I stumbled on this website www.leaseguide.com/articles/affordcar.htm and it kind of further disheartened me. It seems like the only option I have of getting rid of the car is no option. Repossession would only make things worse, as would every other option on the list, or at least so it seems to me. I deeply regret getting this car, if I had just gotten a lemon and fixed it up I would have been much better off in the long run.
Is there anyway to get rid of this car without furthering my debt, or do I have no options, and will I quite literally be paying for my mistake for years to come? What are my choices, and are any of them good ones?
Post by questionablesanity on Dec 7, 2009 8:40:16 GMT -5
If you are going to school, you can get pell grants. A couple of girls that I went to school with had an apartment, car payment, schooling, and all of their utilities paid for. It's all based on how much you and your parents make. There are a lot of stipulations but it may be something to check into.
A Thieve's Parade 2/24 Conspirator 2/26 Kevin Smith 3/11 Keller 3/17 Papadosio 3/18 JJ Grey 3/25 Bela Fleck/Edgar Meyer 3/26 Toubab Krewe 3/27 O'Death 4/11 Budos Band 4/22 EOTO 4/28 Summer Camp 5/6-29 All Good
Post by sweetmelissa on Dec 7, 2009 18:39:49 GMT -5
Fill out a Federal Application for Student Aid. That will tell you how much money you would receive from Pell Grants and Student Loans. The Financial Aid department at the school you want to attend should have the paperwork and can help you fill it out and share other options.
I was not eligable for Pell Grants, but excess student loans helped me pay for my apartment and car while I was in school. I now have $40,000 to pay back to the government, but I made it through school.
You could see if you could sell your car outright or as someone mentioned above put an add out for someone to take over payments.
you could sleep with 500 fat chicks for 100 dollars....or sleep with 100 really fat chicks for 500 dollars
Or just file for bankruptcy unless you have a lot assets. If you are going back to school and making 900 a month it is not like you are buying a house, (and hopefully not another new car) for the next five years anyway. I make a decent living but I still just buy an old car for 2k or so every three years or so. It is really the economical way to do it, check craigslist for some awesome deals on cars.