Looking for a good honest company to lease on with.

So you are not serious about getting out of the situation.

Got it!

I would get rid of all the cars you own except the oldest, put the basic insurance on it, if the girlfreind b***tches, boot her the hell out of the relationship. Get rid of the truck, talk to the lender, they may take it back without too much of a penalty.

And you are joking, debt consolidation?

Get a job at a company, drive for them and skimp on everything until it is all paid.

If you file for bankruptcy, and the judge sees you want to keep the truck, they will include it and the lender will get it from you as soon as they can and they will charge you the difference because they can if they make a good enough case, which they can.

 

Debt consolidation is the last thing I'd do in your shoes. That just makes a bunch of smaller debts into one massive psychologically intimidating massive debt that'll you'll never feel you're making any progress on paying down.

First figure out what you're spending and get on a budget. Cut the credit cards up and toss in the trash then get rid of the extra useless cars. Used cars are selling at a premium now and that'll clean up some of your mess. It's stupid to have cars you don't drive anyways. To be frank you also need to sell the truck and get a W2 job to clean up the mess you made with a truck. Because it ain't gonna get any better if you don't.

Sometimes failure can be hard to admit and own up to but doing the same thing over and over won't work. The trucking business is oversaturated with trucks it's a great way to lose a lot of money if you're not super sharp and able to find a niche. Leasing on somewhere ain't a niche. Youre just another driver hauling freight for peanuts in the oversaturated market. Get rid of the semi truck.

After getting rid of what's sinking you (the truck) and holding you back (cars you never drive because you're a trucker gone all the time) pay off your debts one at a time starting with the smallest. Throw as much money at that one as you can (and minimums on the others) until you knock it out. Then start paying off the next one and so on..

 

HMMMM I got a Volvo and I am a natural born citizen. Ha Ha

 

I'm not getting it. Why should this guy dump the truck and become a company driver? His debts won't go away, and where is he going to net $140,000 a year as a company driver? He should sell one of the POVs to downsize though.

 

If you can’t make it netting $140,000 you’re really screwed. I grossed $150,000-160,000 for years as an owner operator with a family and did alright. Learn to manage money. You’ll never get out of it if you don’t.

 

Because he can NOT afford the truck.

It isn’t rocket science, off load your burden as much as possible, get rid of the debt load as fast as possible and work in a stable job to produce revenue that you can use to pay down the debt.

So here is something about this situation, there is no guarantee that he makes anything near $140k this year, and bankruptcy puts him in a situation where the judge is going to look at the money he made and say no, pay it all off.

Best to change the situation and stop acting like there is an easy solution.

 

I’m confused…supposedly he’s neting 140k with his truck/trucking businesses
To me that means that is what he makes after he pays the truck loan, fuel and repairs….so why would he quit that?
And if that’s really what he means I think he needs to look around and figure out where the hell all his money is going

 

Because he can't afford to keep going. He has put everything in front of the business, and didn't pay off the truck.

 

It’s like those people that win the lottery and don’t even end up with a new set of tires to replace their thread bare ones. You just can’t understand how it happens.

 

I have a feeling he doesn't know the difference between net and gross. $140k net is good money! It pays all those bills. If it doesn't, then it's not net.