[Renovation]

So it's been awhile since I last checked in. Some changes for the better but life is still up in the air. I secured a 6-week consulting project, which is exciting but not clear if it will be extended. Will find out in the next two weeks. If we get it extended then there is an opportunity to possibly do similar projects for other clients. The problem is that none of this is a given and we're still in deep debt. We have stopped paying our mortgage and credit cards and have to deal with daily calls from creditors (not answering the phone). We are trying to save enough over the next few months to try to negotiate a lump sum debt settlement with the credit cards companies. We are also going to try to do a mortgage loan modification.

Lots of "ifs". We have looked into filing bankruptcy and it's still a possibility. We met with bankruptcy attorney and they are encouraging us to file. I first want to see if we can put ourselves in a position to negotiate a debt settlement.

I am trying to keep a level-head and my main focus has to be to do a fantastic job on this consulting project. I have a lot of people I need to please for this to go well and so far the feedback has been positive but we are at a critical juncture and we need to get very positive feedback the next couple of weeks. I need to make sure to be open to all feedback.

I am working out 5-6 days a week, which is helping. Feeling a bit tired though - lots on my mind.

Hoping/praying that things will eventually settle down.

Keep the faith.

[sanityseeker]

HI Reno.... great to hear from you. I have been wondering how things were going for you. Sounds stressful but you are handling the pressure one day at a time. That's the way.

It might be a good idea to keep the lines of communication open with your bank and credit card companies rather than avoiding them. They may have options you haven't thought of. Even a token payment can be better than nothing from their perspective. Just a thought. I am in much the same boat right now as I try to juggle my way between work contracts and job possibilities. Trying to muster the courage to call the utility and credit card companies I owe to see what will satisfy them for now. Will probably need to use another credit card to do even that much. My bank allowed me to just pay the interest on my mortgage for a couple of months. That was helpful but as April approaches I wonder how I will be able to make the full payment.

I am keeping the faith with you for both of us and anyone else who finds themselves struggling in these tough times. Take good care and thanks for checking in.

[1flagwriter]

Renovation,

How are you doing?

[Renovation]

Hi SS,

I sought advice from a bankruptcy lawyer and they have told me to hold off paying for now. It is a bit perverted but the banks won't negotiate until they see you can no longer pay. This is definitely the case with mortgage loan modifications. I am hoping I can have enough cash in a few months to negotiate a debt settlement with the credit card companies.

It is a strange existence. During the day everything appears to be going splendidly because I have this consulting gig but then I come home and am faced with the reality of our debt and the possibility that we might lose our home and have to file for bankruptcy. Despite this I am going to try to be optimistic. Might as well given the alternative

My very best to you. I am sending a prayer your way.

[1flagwriter]

Renovation,

How are you holding up under all this stress?

[Renovation]

Originally Posted by 1flagwriter

Renovation,

How are you holding up under all this stress?

Thanks for asking. Not bad all things considered. I workout almost every day. This is a major stress reducer for me. I have lost 12 pounds in the last couple of months and have gotten in very good shape. Working out is how I start my day. This consulting project is also very rewarding but also stressful - need to deliver a great project. These next few days are going to be key because the client will be reviewing the first draft of a document I am preparing for them. Will see what feedback I get. Was in the office until almost 10pm tonight working on it. Will get some initial feedback tomorrow. Fingers crossed.

[sanityseeker]

Good luck with your project. Hope you get some really useful feedback.

[Renovation]

The initial response is positive. I will see more details about their feedback tomorrow but the initial response is good. Will have better indication this week.

[sanityseeker]

Awesome news. Enjoy.