relocate or file?

[Medsport]

I have some good news and bad news. I recently got a raise and a bonus at work for being there a year. Its usually an easy job and I like it most of the time. Problem is there are basically no benefits at all and almost no advancement or pay increase to look forward to. I also have have a PRN job I usually work a couple days a month. I took out a lot of student loans while in school and also racked up the credit cards. I finally decided to file bankruptcy a couple months ago after getting behind by not getting any hours at my other job for a couple months. I talked to a lawyer and he said to stop paying the credit cards to save up to pay for his services so that's what I did. Now I'm thinking maybe I should'nt have as I could have at least broken even with the raise, but now my credit has taken a major hit and I owe about 1.5k more and increased interest due to the late fees and such. I'm getting major flack on one of my car forums for taking the "easy way out" and I should'nt give up and file. I don't see it that way as this has been building for years and even if I could break even, I would'nt be able to pay the home equity loan down and it will be due in about 4 years. Plus it would take at least 8 years to pay the credit cards off and that's only if I don't use them at all anymore. I would also still be without insurance as I would'nt be able to afford the premiums.

If I filed and still worked my 2nd job a couple days a month, I would finally have a few hundred extra a month to pay my home equity down, get some insurance and start a savings account as I just turned 40 and have no retirement yet. I know there are negatives such as increased interest for a few years on cars and houses. No plans on a house, but like to have new cars every few years, although I do have a lease with 2 years left. Contrary to popular belief, you can get credit cards a few months after filing too. I'm not sure if it would effect applying for future jobs much or not? Anyway, they did have an idea of looking for work in other parts of the country. One person recommended Long Island, NY for higher pay. I did a quick search and sure enough, I found a couple listings for $26-30/hr! That's almost double the wage for LPN's here. Granted cost of housing and crime would be higher there, but still.

What do you guys think; continue with the plans of filing and stay here or look into relocating and starting over and try to pay my bills off? I know even getting an interview for a job in another state is a long shot as I can't even seem to get an interview around here. I'm not sure what is even involved with getting an out-of-state license, but I would'nt think it would be much more than paying a fee. btw, I have'nt paid the lawyer yet, but was going to start making payments real soon as I know they won't really work on it until they get some cash.

[SimonJester]

dave ramseys my total money makeover: beat debt. build wealth.

try dave ramsey's total money makeover. he talks about snowballing your debt, or paying off the highest interest credit card first, then using the amount that you'd have paid to that card combined with the amount you pay the second highest card to pay the second highest card off more quickly, etc.

i second this post, you can get all of the dave ramsey information free from his web site, even listen to his radio show for free... i suggest either buying his book ($10) or checking it out from your local library. even if you don't get into his plan you may learn a good deal about yourself and your own finical habits.

bankruptcy should be the very last card you play, and only if you have been sued and they are starting to garnish your wages... if you don't change your finical habits you are going to be right back in the same place a few years from now... remember student loans from the government are not bankruptable, you will own them forever.

think about what your life could be like if you have no credit card payments, no car payments, no student loans, no house payment! no debt at all... life would be a lot less stressful, i'd bet you would go into work every day because you want to, not because you have to.

[chloecatrn]

Well, it sounds like you've certainly made up your mind. I still recommend at least borrowing Dave Ramsey's book from the public library to set yourself up for success after you file bankruptcy. If you check him out and he's not for you, another financial planner that people seem to find helpful is David Bach. His books are here: http://www.amazon.com/s?ie=UTF8&rh=i%3Astripbooks%2Cp_27%3ADavid%20Bach&field-author=David%20Bach&page=1

Good luck to you. I hope that your situation is the same as those you've referenced and you truly will be able to get out of this situation as easily as you think you will.

[Medsport, LPN]

Living expenses while in school twice? I hear what you are saying but don't necessarily agree. I continued working while in nursing school so I could pay my tuition and my bills.

Yeah, well actually 3. The first one was for CAD and that was is paid off and I had'nt done that kind of work since 1998. I got my accounting license while delivering pizza. At that time I was making enough to pay the bills, but had to get school loans for tuition and books. I only got the associates degree and never even had an interview for a job. My sisters ex-husband probably would have helped me out as he was a CPA, but they divorced a few months before I graduated and he later committed suicide. So at that point I could barely pay the bills and now I had student loan payments to make and I also got a divorce around the same time. The pizza job was going downhill so I got a factory job, but that only paid about $10 an hour. This is when I was trying to find a stable career and my sister recommended nursing. It took me 3 years to get through the LPN program. The first two I worked full-time, but the clinical year I dropped back to part-time and took out extra loans to pay the bills. I was under the mistaken assumption that I could get a hospital job and they would help pay the loans back or I might not have done it. I didn't know at the time that it was very rare that they did tuition reimbursement for LPN's, only RN's. So then after I got my nursing license, I now have student loans for 2 degrees as I had'nt started paying on the first one yet and it took me about 6 months to find my first nursing job and that was part-time. I was working 3 jobs for awhile, but working almost every day wears you out quicker than you would think. The factory eventually let me go as I could only work there a couple days a week. Then my corrections nursing position let me go due to budget cutbacks. I worked a little extra at my PRN job, but could only pick up hours that were available. I then finally found my first full-time nursing job, but the pay was'nt the greatest and they have no benefits. I'm finally supposed to be getting a raise, but the damage to my finances is already done. They still don't have benefits-no vacation, sick days, nothing, except they did give me a number to call to see about insurance, but I'm sure its expensive. So that in a nutshell is my story, sad but true.

[Not_A_Hat_Person, RN]

Try Dave Ramsey's Total Money Makeover. He talks about snowballing your debt, or paying off the highest interest credit card first, then using the amount that you'd have paid to that card combined with the amount you pay the second highest card to pay the second highest card off more quickly, etc.

Dave Ramsey is wayyyyyy too religious for my taste. Why do all of his success stories involve people finding Jesus? Was he hiding under the couch?

Anyway, I'm a big fan of Michelle Singletary, a personal finance columnist for the Washington Post. Her debt snowball is the opposite of Dave Ramsey's: apply any extra money to your smallest debt (regardless of the interest rate). Once that is paid off, put any extra money toward the next smallest debt. It will take longer to pay off your debt, but since the first one is paid off quickly, you get the feeling of accomplishment quickly, and you're more likely to stick with it.

[funvirgoRN]

Look into travel nursing, there are agencies out there that hire LPN's. The agency would have a better knowledge of what positions are available and can shop your profile to multiple hospitals. Also they would pay for your housing and insurance. Some even pay relocation expenses.

[Medsport, LPN]

Any idea what agencies do travel nursing? I had talked to a lady down in florida a few months ago that was trying to find me a position, but I'm not I think it was more of a staffing agency. I don't have any experience at a hospital yet either except for a couple clinical rotations while in school if that makes a differece.

[pers]

Relocating is unlikely to help you. Moving an hour away for a pay raise and same COL is one thing, moving to an area known for having one of the highest COL in the country is quite another. Yes, the wages go up but with that comes an increased cost of living that will eat that extra money. Factor in moving expenses and you are likely to end up in a much worse situation than you are currently.

Have you tried LTC? In my area they have the best wages for LPNs and do take new grads.

From your posts, it actually sounds like your situation is workable without filing or moving but requires work and sacrifice on your part. Will your lifestyle take a blow? Absolutely. You may be living with essentials only for the next ten years but you could do it (without a new car btw). There's a difference between wanting to file because it will be easier and needing to file because it's your only option.

I'm honestly not judging you for it, but I do think it sounds like you've made the decision to file already. If that's the case, I'm not sure what you are looking for here. If you want people to agree with your choice, a credit or bankruptcy forum is likely a better place. If you were hoping that someone would say moving would be the answer to your problems, well, that's not gonna happen either.

Good luck, and I hope you consider the advice of other posters on some credit counseling in order to prevent a repeat of your current situation.

[chloecatrn]

Any idea what agencies do travel nursing? I had talked to a lady down in florida a few months ago that was trying to find me a position, but I'm not I think it was more of a staffing agency. I don't have any experience at a hospital yet either except for a couple clinical rotations while in school if that makes a differece.

There's a travel nursing board under the specialty forums heading here. There are literally tons of agencies out there. The trick is finding a good agency that will be able to find you a decent place to work. You'll need to talk to experienced travelers to see what agencies have worked well for them in the past.