Financial difficulties
I have an aunt who lives in another state further south. (I just realized how silly that sounds, almost everyone lives further south than we do!) Anyway, she and her husband have had perfect credit all of their lives. Last fall her husband was in a bad car accident that was not his fault, and he has been unable to work for the past ten months. The doctors say that he may never be able to work again. He did not have any kind of disability insurance other than his standard automobile insurance policy (which doesn’t want to pay anything because the accident was not his fault!) The lady who caused the accident does not have enough insurance to cover even 25% of his medical bills! Thank goodness my aunt’s medical insurance has been covering most of his medical expenses so far, but the co-payments on the pain medications have been quite exorbitant! I never realized just how expensive pain medications could be! No wonder I keep hearing about drug stores being held up for pain medications!
Anyway, because he has been unable to work they have not been able to keep up on their mortgage payments and the mortgage company is not granting them any slack at all. My aunt is working three jobs, but is not making enough money to pay all of the bills. They asked for a special hardship forbearance and the mortgage company refused. Long story short they are losing their house and their credit is ruined. Their credit card companies are cancelling their cards because they have fallen behind on their mortgage payments.
This sad story has been a huge “awakening” to me about just how rotten life can be to good people who never did anyone any harm and have only been generous and gracious and hard working their entire lives. They are going to have to look into getting some loans for people with bad credit to help them get through the next few years. They are going to need some financial help to find a new place to live, and the only way they are going to get it is through a company that extends credit to people with poor credit. What is really sad about this is that people with poor credit usually have to pay higher interest rates and higher fees, which makes their lives even more difficult!
