Can You Help This Reader?
My husband is retired and I will be retiring in a year and we've decided to down size to a smaller living space. My husband really wants us to consider buying an RV because we do intend to travel. He thinks it will be cheaper than buying another home. Can anyone tell me how RV costs and maintenance compare to home costs and maintenance? From what I can tell you have to pay monthly at the various RV parks and some are not cheap. Is upkeep expensive? And repairs? We know one couple who says it is the best retirement decision they have made and another who says it has been extremely expensive for them to keep up with repairs, especially when they have to pay for a hotel room while their "home" is in the shop. They are actually "upside down" in their RV and cannot sell it now. If any frugal RV-ers can share their cost experiences I would greatly appreciate it.
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We have determined that we are good candidates for bankruptcy, but I am having a hard time dealing with the guilt and shame of our financial actions. We are not deep in debt due to a hardship (no big medical bills and no lost jobs), but from poor spending habits. For a long time we have overspent, using our credit cards whenever we wanted to buy something and we finally reached that point where we can no longer make minimum monthly payments and have now gotten behind so much that even picking up extra part-time work is not getting things paid on time. I guess I feel as if we don't deserve an easy out like bankruptcy. We spent the money and I feel obligated to pay it all back. Would anyone else who has faced a similar siutation and used bankruptcy as a solution please tell me whether you feel you made the right choice or do you think, in hindsight, that you would have made a different choice? Bankruptcy might offer us some financial relief but I don't think it will relieve me of the shame and embarrassment of getting ourselves into this mess. How do you deal with the emotional side of bankruptcy? Is it easy for poeple to find out someone has filed bankruptcy? What do we tell them? My husband says he is OK with our decision, that it is the reason they have bankruptcy and that he sees no other way out that doesn't end with us losing everything, including our home. Any advice?
Please send your answers email to canyouhelp (at) stretcher.com with "Emotional Costs of Bankruptcy" as the subject. We'll include the best solutions in future issues.