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Ask Dave

A Bigger Problem

Charles is worried about a lawsuit from a credit card company, but Dave thinks there is something bigger to worry about.

QUESTION: Charles has a paid-for house, but a credit card that is about to sue him. He was laid off a year ago and hasn’t worked since then. He has $7,500 in credit card debt, and $5,000 of that is related to the lawsuit. He wants to know what they can do to him in the courtroom. Dave thinks another issue of his is more pressing than that.

ANSWER: You’ve got bigger problems than this lawsuit. You don’t have a job, and that’s 98% of the problem. Print up some business cards and be a handyman today. Don’t talk about the economy being bad; if someone has a broken dishwasher, they want someone to fix it. You’ve got to make an income immediately. You could pay this debt off in 8 months, but right now you need some money so you can eat. You can’t just sit at home and wait for someone to call you and hire you anymore. Get in your car and go deliver pizzas.

You can offer the credit card a settlement, but that’s not the big problem. You need to create an income!