"Idiots on Wall Street Kicking Sand in the Face of the American Taxpayer"

Monday, October 6, 2008

Time Flies When You Can't Pay the Bills

I didn't realize how long I have been away from this blog. All I can say is "My how time flies when you can't pay the bills!" It's true. I know I just got my monthly credit card statement. You know, the one I haven't paid in several months. And I know I just got the past due notice not two days ago, and here it is DUE DATE again. Irresponsible I know, but I don't even open it anymore. Can't bear to see that HUGE interest rate, along with the over the limit fee and the late fee added to that progressively rising balance. But I derive some comfort from watching the news because I know I'm not alone.

The good news is we worked out a plan with the mortgage company to get our house payment back on time. The bad news is we can't afford the increased payment we worked out. Hell, we couldn't afford the payment before we worked it out. And I'm beginning to realize why so many people are losing their homes to foreclosure. You begin to see the mortgage payment as a big black hole sucking up what little money you are making each month. The money you need to eat and pay medical costs and clothe and educate your children. The money you need to buy gas for your car to make sure the oil companies can keep gorging themselves on those big profits. The money that should be going into your shrinking 401K?

So the government has bailed out the big boys on Wall Street and we are supposed to be comforted to know that hopefully (all fingers and toes crossed) the move will free up the credit markets so my husband will continue to have a job and a paycheck. So you, if lucky enough to still have a job, can keep it and continue to have your paycheck.

Otherwise, freeing up credit won't help our family one iota. Because when you don't pay your bills on time, YOU CAN'T GET CREDIT!!!!! It is a big Catch-22. The mess on Wall Street led to my job loss, and we can no longer pay our outstanding obligations. Therefore, we are losing whatever little credit standing we had. And if we lose our home, our credit standing will be further damaged. Yes, my husband will hopefully still get a paycheck, we just won't have anywhere to live. Because who is going to rent to someone with crappy credit???

Suggestions anyone?

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