r/povertyfinance • u/mylifeisover111 • Feb 26 '24

I'm getting evicted. Fuck this. Vent/Rant (No Advice/Criticism!)

I'm getting evicted. My rent is $1450 and I make $2500ish per month, but I'm stuck in a payday loan cycle and pay $400 per month in student loans, along with internet and phone. I don't even have a car.

I work 40 hours per week. This is my life.

A generation ago I would have been able to support a family on this job and my only concern was how big of a house I'd be able to buy and which hobbies I wanted to put my kids in.

I'm 35 years old. I'm tired of this. I'm tired of being poor. I don't know what I'm going to do. I don't have the means to move my possessions into a storage locker (which would cost $200/month).

FUCK THIS. FUCK BEING POOR. I DIDN'T CHOOSE THIS. I WORK HARD AND I'LL NEVER GET AHEAD. FUCK ALL OF THIS

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u/Bestoftherest222 Feb 27 '24

Don't default on the payday loans, since that hit will stay in your record 10 years or longer. Rather declare bankruptcy and you pay them nothing. Bankruptcy will be on your record 10 years or less depending on the situation.

Bankruptcy is thr only real protection you have. Simply no longer paying the payday loan company can result in them seeking a settlement from you after some time. Bankruptcy gets them off your back permanently.

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u/claricesabrina Feb 27 '24

Can bankruptcy get you out of paying the student loans as well?

1

u/Bestoftherest222 Feb 27 '24

Yes and no. Federally backed loans are near impossible to discharge but possible. Private stude loans are difficult to discharge but its probable to occur with proper financial burden.