Friday, May 21, 2010

Ugh. Life. Isn't. Fair.

So, the bank called FireMan late yesterday.

They nearly doubled the down payment they would require from us. Money we don't have on hand.

Why, you ask? Because I have a bankruptcy in my past.

It was all I could do to keep from crying at work when he told me.

See, remember me telling you about the car accident I was in in 2002? The one where I hurt my back? And then the surgery I had in 2006? Well, long story short, after a three year legal battle with the car insurance company, I didn't even get enough money to pay my medical bills, let alone replace my totalled car, or pay me for lost wages. I was left with thousands of dollars of debt, mostly to different doctors.

By the way, I definitely do not recommend Nationwide Insurance. I guarantee they spent more in legal fees over the course of three years than we were even asking for in the settlement. I just wanted to get my bills paid.

So, in 2006, after the surgery bills were added on top of the other bills I'd been struggling to pay for the previous four years, I couldn't make it anymore. I spent about six months living off of Totinos Pizzas (they were only $1 at Remkes) and water. Sometimes KoolAid or some mac-n-cheese for a treat. A special treat would be the 79-cent cheeseburger from the McDonald's down the street. No cable. No shopping. No frills. At. All. I remember when I finally met with a bankruptcy attorney, and she sent me to a financial counselor (as required by the bankruptcy laws). He said he didn't know how I'd made it like that for so long. But I was determined to pay off my debts. I tried. I really, really tried. But the bills got to be too much. I couldn't make it any longer.

So... I'm in a car accident in 2002. A woman accelerates thru a red light, t-boning my car, totalling both my vehicle & my back in the process, giving me what doctors consider a "lifetime injury", and if that's not enough, we might now lose our dream house because of the financial repercussions. For something that was never my fault to begin with.

Live. Isn't. Fair.

At the time of my bankruptcy filing, over 75% of my debt was related to medical expenses. When you factor in my college education, over 97% of my debt was related to either medical or education.
I'm not saying I never made a frivolous purchase in my life, but I can honestly say that the vast majority of my debt was related to either medical or education expenses.
And yet these bankruptcies are treated the exact same way as people who just run up their credit cards and live it up on consumer debt.

Not. Fair.

They really need to come up with two separate categories for bankruptcies. One category for responsible people who just hit some hard times. And one for irresponsible people who just lived beyond their means and can't (or don't) manage their money well.

It's just so frustrating. I'm angry. I'm frustrated. I'm sad. I'm disappointed. And I feel a little guilty that because of my history, FireMan is upset about us possibly not getting the house. It sucks.

It's not over yet. Our realtor is working with us to see what options we have. Apparently we might qualify for a rural home development program, which would cover our entire downpayment (why didn't he tell us about this before?!?), and there are some other loan options we might qualify for. But for right now our lending is stalled until we figure something out.

On a sort-of positive note, the inspection was this morning, and the house passed. The inspector didn't find anything that we didn't already know about. Yay! So that's good.

Now we just have to see if this lending thing will work out.

Thanks for checking in.

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