Ep. 28: Timmy Takes Responsibility for His Situation

Meet Timmy

Age: 34

Salary: $15.68/hour

Employment: Post office letter carrier

Timmy’s main concerns, in his own words:

I’m a single father of twins, who will be 3 on Friday. I have joint custody, no child support. I’m a letter carrier with the post office making $15.68 an hour. No guarantee on hours. I just closed on my house November 1, 2014. When I got the house I took out a $5,000 loan. And a couple months ago I took out a $6,000 loan, in hopes of paying that original loan off and a few bills. Well I didn’t get the first loan paid, but I did get a couple old student loans paid off along with credit cards. However, I’m barely making it and missed last months $5,000 loan payment. I also don’t have the money to pay the $6,000 payment on Friday. It is set up for automatic debit though and I did delay it some. I’ll call them today to see if I can get it suspended for a couple months, but I don’t know what to do. I also have a 2015 Dodge Grand Caravan payment with 0% interest and right now the payoff is $29,000.


  • Mortgage: $552.68
  • Electric: $77.00
  • Gas: $76.00
  • Water Bill: $40.00
  • Vehicle: $434.77
  • Daycare: $388.00
  • Insurance (Vehicle and twins life insurance): $115.99
  • Cable, internet, phone: $161
  • Verizon Wireless: $77.15
  • Bank Loan ($4636.21, 15% interest): $218.85, missed last month.
  • Avant Loan ($6,000.00, 30% interest) : $194.11
  • USAA Credit Card: Maxed ($1,500), minimum monthly is $35. Missed last month.
  • SAM’s Club Credit: Maxed ($1,000), minimum monthly is $25. Missed last month.

I’m in talks with a friend that is a branch manager at a bank about getting a personal loan to consolidate the Avant loan and to pay off the two credit cards. I won’t be able to get enough to add the bank loan.

*No updates, except I WASN’T able to combine those two loans at this time.

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