Hello all, let me start off by saying that I have been a long time lurker on reddit and this is my first post ever. I created an account just for this reason and I appreciate any advice given.
I am a 30 years old, disabled veteran with a wife and 3 children. I currently hold a position with the federal government where I have a real possibility of losing my security clearance and my job over delinquent debt. I incurred a lot of debt after I was injured and discharged from the military. I struggled to survive and take care of my family for a number of years. I have only been employed here for the last 9 months. I work full time and am a full-time student using my GI bill. My credit score is 550 while my wife carries about 600. We are currently living above our means and I am finding it hard to find a way out. I will now list my budgets and debts.
Income
Yearly Salary - $49,751
2500/mo After taxes, health & life insurance, and 6% into TSP ($214) (+matching 5%)
1680/m VA Disability
1660/m BAH from GI BIll
$5840.00/m Total bring home
Budget:
Rent - 1800
Electric - 300
Gas - 150
Water 125
Car Loan - 400 - Owe 11,000 on it
EDIT(Vehicle is totaled)Car Loan 2 - 350 - Owe $5,500 (vehicle was totaled gap insurance did not cover full amount b/c I had put deferment on payments for 12 months after I was injured)
Auto Insurance - 150
Renters - 20
Internet - 75
Cellphones - 120
CC1 - 100 - Balance - 1,980 @ 21%apr
CC2 - 50 - Balance - 300 @ 21%
CC3 - 50 - Blance - 400 @ 22.99%
$100 Diapers/Wipes $700 Food/Groceries $100 Household $300 Gasoline/Fuel $120 Transportation/Tolls/Tix/Passes $90 Misc. Medical Expenses (Rx/Dr.) $200 Dance/Gymnastics/Child Activities $100 Clothes/ $100 Entertainment $20 Amazon $35 Busch Gardens Passes $150 Pets
TOTAL Expenses - $5760 TOTAL NET Profit- $120.00
Current Personal Debt $19,500 (approx) + IRS Debt - $1,654 + Deliquent Debt Totals $13,564 of unsecured loans from 2013. + Student Loan Debt approx. $58,000 (deferred)
$92,718 In total debt.
I have a total of $4,000 in my TSP (L2050) and no other investments or assets.
I am currently the sole provider and only income for my household. I don't know what I am looking for, but I am looking for something. I feel lost. I suffer a Traumatic Brain Injury which makes managing all of this that much harder. Also when I finish school I will no longer be getting 1660 for BAH from the VA that will be in approximately 1 year. Please help.
Submitted December 10, 2017 at 12:45AM by deepc55 http://ift.tt/2nMDNun
