Saturday, August 10, 2013

Life is a whirlwind. We have given it to God and are trying our best to avoid complete financial collapse.

So, I am involved in some extensive wheeling and dealing in the past week (in trying to reduce our monthly spend now that it is getting close to the time the unemployment ends). Not having the Mitsubishi payment will give us more freedom to pay priority items. This will allow us to have our costs down to the bare minimum if I don't succeed in getting a job (and if I do find a job, we will have less financial stress).

Our sole vehicle that is paid for (our older Chrysler Sebring with 185,000 miles that has served as a backup vehicle in case we lost a vehicle due to repossession) is now a casualty of our need for the Handicap Van. I am picking up the Handicap Van early this morning and bringing it to our home. Given the real need for this vehicle (to ensure I have the means to get to a future job in case of a major gout attack while using a wheelchair to ensure I can ambulate safely), the Handicap Van will become the backup vehicle (even though it is paid for, it is an older vehicle that only gets 15 mpg on average so it is not a good commuting vehicle for me.... it's purpose is for when I have bad gout attacks and/or to be able to transport Penny's 80 year old father as his ability to ambulate becomes more problematic). I will also use it on occasion if our Church should ever need the service of helping bring a disabled person to the church for services.

And then... later today, I will be trading the 2003 Sebring straight across for a 2006 Chevrolet Uplander LS with 124,500 miles with a gentleman 2 states away. The person who I am trading with was looking for a smaller vehicle that gets good gas mileage for his daughter to use, and he no longer needed the minivan nor did his daughter wish to have a soccer mom vehicle (so this resolves both of our needs). We will then be going to the Mitsubishi Dealership at the beginning of next week to see if they will take both the 2011 Mitsubishi Outlander and the 2006 Chevy Uplander in... in order to satisfy the $32k loan still outstanding on the Mitsubishi. The Mitsubishi retails still for $24k (and that leaves $8k to be covered by the Uplander which is worth about $5,500k retail).  If they took both and then Mitsubishi Credit considered it paid off, we can use the 2001 Chrysler Town and Country as Penny's primary vehicle and I'd use the Handicap Van no matter what.

If that doesn't work, Penny will be using the 2001 Town & Country as her primary vehicle (and the $204 monthly payment on that vehicle is within our long term budget) and I will be using the 2006 Uplander as my primary vehicle and the Mitsubishi will then be handed over to Mitsubishi (and we'll have to take the financial hit since it will be a "planned repossession). At $640 a month, we cannot afford it as long as I am unemployed and Penny is disabled and it has cost us over $7,000.00 so far in payments since I last worked. If we didn't have that payment, we would have more money to dedicate to the basics such as shelter / food / medical / etc..... and given I am still unemployed, the Mitsubishi is a unnecessary drag on our finances at this point. We have perfectly good older vehicles that are well maintained, we don't need a newer vehicle at this point (we need less financial stress).

I will be sitting down with the Church elders and our financial counselor this week regarding the next approach to take. Bankruptcy is much harder to go through now and is a last resort regarding every entity we have spoken with  (and honestly, we are trying everything we can regarding Bankruptcy being a last resort).

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