owner operator in desperate need of help

First, STAY AWAY from so called help from title loan companies, credit repair companies and their ilk!

Second, the mechanical/financial aspect of this is fixable, although, it will require you to concede on many of your self-imposed limits. On this, I would try to negotiate a lower bill with that shop. I would sell a car and become a one car household. I would also find a small bank or credit union to send all my business to in exchange for a $10000 line of credit account, with the big truck or trailer equity as collateral. But only use line of credit until I bust butt and get my operating reserves to a realistic level, say, $20000.

That should get you rolling for now. What happens next time?
I seriously recommend you subscribe to the Dave Ramsey podcasts. I would download them to my ipod and listen while I drove all night. It helps empower your financial knowledge as well as the WAY you think about money as it relates to your life. It got me debt free over a 5 year period, all I did was work. I sold everything, and I mean everything I did not have to have to live. Not wants, NEEDS are important. Like Dave says, You've got to get crazy or get mad, and make killing all debt your mission. Then, you rebuild it all SLOWLY, cash and debit card, and a real budget.

You got bit by a cash crunch, there will be more if you don't properly budget and set aside sufficient reserves for your business. And as said before, you may have to park the truck for awhile. Let that bitter taste be the catalast that keeps you on that mission to stay debt free. You will feel like 300lbs was lifted off your shoulders.

Good luck, keep your chin up and stay calm for your family's sake. They look to you for their stability. You are the rock. So be that rock.

 

Silver Knight, glad you got the money to get your truck out of the shop. Can we ask how you ended up getting the money?

 

Glad to hear your getting if fixed. Now, with some luck, I hope things turn around for you.

 

So we were right that you had to swallow some pride.........hope it results in a better relationship with your dad.

You can be a little angry about having bad luck but the trick in bussiness is not to let your emotions run your decisions.
(watch the "Back to the Future" movies,they show it very good)

ps try to slow down,think off your truck as very young,fragile woman you have to handle like she was made out off glas.
That will cut down on repairbills.(and save some diesel)

Good luck and do keep us updated on how it goes.

 

I'd just about take the picking aluminum cans option over that. That's just a tough deal right there. Glad it worked out for you, and all the more reason to get him paid back quick so you don't hear about it from now on LOL.

 

As a truck financing company that works with truckers with not so good credit we get these questions all the time. If the truck was free and clear we may be able to help. If not here are three options that may be a long shot but worth a try:

1) Ask the repair shop to take payments. They probably wont do it but if you offer them a nice return they may come around. For example you could offer them payments of $1,000 a months for six, seven, eight months. The more your willing to offer them the more likely they will agree to this. Maybe you have a title on a free and clear car you can offer them. Yes, this is expensive but it's better the the alternative.
2) Contact GE Capital. They provide small personal signature loans as well as the bigger stuff. You will have to do some digging but you should be able to find the right department.
3) Search "micro lending" online. Kiva is a popular choice. They do unsecured loans for all types of stuff.

Hope this works.