Financially Ruined

   This is just a blog about how I totally screwed myself up financially and the process that I go through to recover.  I've been leading my life through self indulgence, spending money on whatever I wanted at the slightest whim.  In other words, I have been an idiot.  I hope that I have learned from my mistakes.  I spent the last eight years making great money as a truck owner operator handing out advice that I should have taken myself.  I don't have the discipline it appears to what I really need to do.  Then all that income disappeared do to medical reasons.  I lost all my income and am currently living on workman's comp.  This dropped my income by about sixty six percent.  My monthly bills are about seven thousand dollars a month and my workman's comp is three thousand four hundred a month.  My house is on the verge of foreclosure and I will be filing bankruptcy soon.  Before I can return to work I need back surgery and time to recover.  To top it all off, I owe about sixty five thousand in back taxes.  The question is, how am I going to recover from all this?

   As I said, the first step is bankruptcy.  This is inevitable.  There is no way possible to recover from the bills that I am behind on.  You probably want numbers so here you go. My total debt is about $293,000.00, most of which is secured.  My unsecured debt is about $78,000.  My monthly payments for necessities is about $1,800.00 without my house payment, $3250.00 or so with the house payment.  My monthly income from workman's comp is about $3,400.00.  As you can see, I am screwed.

   So bankruptcy comes first.  Next, I will try to work with the loan company to save my home.  If this doesn't work out then I have to find a way to manage another place to live.  I think I can save my home but it won't be easy.  While I am doing this, I will have to work with the IRS to get my tax issues cleared up.  This is all very overwhelming and I am not sure how I will get through it.  I have my doubts.  I'm sure that many of you will leave rude comments about how I'm an idiot, but thats a given.

   I am very worried about the future.  I will post updates about how things proceed and I hope that it helps others.  Soon I will give a more detailed narrative about how I got into this mess so that others may avoid it before it happens to them.  For now I leave you.  I appreciate you reading this and I hope that all of you have a wonderful life without these trials.

   Bye for now, RJC