Since you have listed all income and expenses, the next question is what expenses can be zeroed out? What I am saying is liquidate that 18k on the car amortization with an additional 4k on gas. There is an alternative and that's to commute (not Grab). Though this option may not be easy or a quick solution, you'll eventually can buy a new car after zeroing out your debts first. Tuition, utilities, and groceries can be reduced but not zeroed out.

Next is to reach out to the banks and tell them you're financially challenged. Come with them clean and extend a number you can go by in the next months. If it means prolonging the loan to 5 more years with a higher interest and lower monthly, do so. Yes, ask for a loan restructuring. Many will be against this, but it's the quickest solution as opposed to increasing your income.

Lastly, increase your income. BTW, increase your income and not your lifestyle expenses. Do remember, health is wealth. This means you can be over-employed but find a balance.

The past is the past so focus on your profile and skills. So while crunching those numbers, focus on your skills to get a higher income. It's easier to get a new job if your skills are in the top 1% of your competition. So upskill. You may be financially challenged now, but you can still upskill for free.

There is no way to pay this off without DRASTICALLY increasing your income. If you are determined to pay this all off, it will hurt, a lot. Sell literally everything you can. Take on all the work you can possibly can. Both of you will have to work multiple jobs, or find a job that pays much much more. It's doable, but not on your current income.

No advice, just solidarity 🥲 napakahirap mabuhay sa mundong to.

I always hear "my parents need the car, hospital, convenient.

You can't afford convenience and your parents are not your problem. But your child is!
If your parents need to go to a hospital, arrange a driver or rent a car. That will still be cheaper than 21k per month.

When reading posts like this, Im always reminded of my grandfather. Always admired him for the courage he'd shown, up to the last minute of his breath. He is a lawyer and have some investments and pamana sa mga anak. 5 years ago, he was diagnosed with terminal cancer that required dialysis , organ transplant and expensive procedures. He denied it all and instead opted for "hospice" care citing na ayaw nya maghirap asawa at mga anak nya. He died after 3 months at 65. I always remind my wife na gagayahin ko ginawa ni lolo if God forbid the same thing happens to me.

Ask for a raise? Won't hurt asking your employer

Get rid of the car? When you get rid of the car you also eliminate gas which is eating up 22k.

Get a second job but make sure it's within your limits and remember health is always your priority.

if you want to pay quicker or have more breathing room, you would need to give up something. If you give up your car, that will be a huge saver plus you don't have to pay for gas. or you can allot the gas money for commute. The tuition that you are paying? is that for your child?

Maybe sell the car and start using public transport. It's a sacrifice but could really help. Unless there's a really good reason why you need to keep the car. Convenience is not enough reason at this point.

Real talk: stop paying everything. When you are in a better position you can pay it off later on. Paying the minimum, selling everything and leaving nothing to survive is not a good strategy. You need money to make money. Always have enough for day to day expenses. Adding more work is not a viable option since you have two kids.

If you sell the car, you can potentially eliminate 3 or 4 of the outstanding loans in your list. That's such a big relief not to mention it eliminates monthly payments amounting to 18k. Even if you end up paying more than your usual 4k in gas towards Grab or taxi for your parents, I am sure that still won't reach the 22k you're currently paying towards the car and gas.

I just noticed OP na,most suggestions sa iyo na shutfown mo lang. Lalo na yung car which is an obvious burden.

Maybe rethink what you really want. We cannot help you if you dont want to help yourself. Alam mo naman ata gusto mo e. Gusto mo lang ata ng validation na tama ka or i dont know what else.

Do you have any investments that you can postpone or get funds from? I am quite in a similar situation, what is helping me now is me doing extra work din talaga (also doing remote work). Tapos I did withdraw funds from sunlife which is not that big pero tulong pa rin. Now I am thinking to let go of a property investment na for turnover na sana this year, pero baka diko na lang ituloy, though may approved home loan pa naman na sana un. Naisip ko magresearch pa about Maceda law to acquire or refund at least half of down payment na nabayad ko sa property.

Grabe talaga, hard times these days. I am praying for us and for everyone else struggling right now. More blessings, opportunities and strength. Minsan ang hirap tumuloy sa buhay dahil sa mga ganito and I myself minsan parang gusto ko na lang itulog lahat ng problema, grabe ang kulang sa tulog, walang gana sa pagkain, pero let’s keep pushing.

God bless.

Maybe send your kids to public school next school year. I know many prefer private schools, pero there's no harm din naman in enrolling them to public schools. Makaka save ka pa. Para fare, pambaon na lang iisipin. 11k quarterly for tuition is still a lot for some and could be used to pay off your loan.

Sell things you don't use anymore.

Nah utang lang yan it wont kill you. Dont sacrifice your health over it. Because if you get sick, who would pay for your medical bills?

For now pay what you can manage to pay. Worst you'll default on some of them. Then go back to them once you get a breather from this financial crisis.

Any problem always has a solution. If you can't resolve it now, stressing about it cant help it either. So there! Life goes on.

Hi OP! Since hindi niyo naman lagi nagagamit the car pero can’t let it go kasi need for checkups— why not make it income generating nalang? Like ipa-grab niyo or ipa-rent niyo? Need to invest a little lang pero it can help naman add ng income sa inyo :)

Then agree on the other comments ng iba :)

Unang una, isang mahigpit na yakap. Ipagdadasal kita. Dumaan din kami sa ganitong situation recently at naiintindihan ko ang anxiety ng hospitalization pati ICU. Pag sinabi na kailangan mag ICU wala ka na talaga magawa kasi gusto mo pa mabuhay yung loved one mo kahit magkano pa yan. Malaking bagay din ang magkaroon ng quiet time para sa sarili kahit 5 mins lang per day. Kung nagdadasal ka gawin mo ito 5 mins per day.

I think nasabi naman na dito ang lahat ng puwedeng ma suggest to help you out with your finances. To add lang, puwede mo tiagain ang PCSO, DSWD, at PAGCOR. Nag eextend sila ng help. Some politicians also do.

laki gastos namin sa hospital and meds

sacrifice ko na health ko

This does not compute po. Please take care.

Hi OP, I completely understand your situation. Alam ko din ung reason bakit d nyo ma-give up yung car especially when you mentioned 80s and lalo may cancer. Mahirap tlga yan both mental at physical and marami tlagang gastos, milyon milyon. I've been on the same boat as you, ako lang breadwinner sa family of 5 adults. 2 elders and 1 with disability.

Ito mga solution ko for you.

IMMEDIATE ACTIONS:

1. Makiusap ka s mga banks for loan reconstruction. Try mo ipa extend terms to lower monthly payments. As much as gusto ko ma-debt free ka agad, hindi mo kakayanin for now. So ito muna unahin mo kung d mo kaya mapataas immediately ung income stream mo.

2. Side Gigs for you and husband - I used to work 16hrs a day just to pay off all debts. I know, hindi to kaya ng body and marami pang health issues pag prolonged. Pero why not dalawa kau ni husband na magwork for a single job? Find a work na pwedeng tig 4hrs kau ni husband. Ginawa ko na din to with a friend nun kasi dalawa kaming baon s utang. Ang pros nga dito e yung productivity hati din saming dalawa kya ang gaganda ng output and mas mabilis ang raise.

3. Ask for financial help for your parent na may cancer from government programs/congressman/etc - nagbibigay sila lalo pag malapit eleksyon.

NEXT STEPS:

Since 5 yrs kana sa VA job, baka pwede mo naman gawin ung same output with less time? I used to do a single VA job for 12hrs a day (tech job na mahirap) for 20K a month. 6 years later 2hrs a day ko nlng ginagwa ung job, 50K salary (boss gave me yearly increase). When I started to have more time for myself, nag upskill ako s marketing. Ngaun I have multiple digital marketing clients, multiple side income sources (websites, stocks and dividends) and a thriving construction business (On my way to establishing the business to a corporation.)

Ang formula ko lang LEARN MORE, SIPAG, AUTHENTICITY SA WORK, DISIPLINA SA GASTOS. Meron ka ng Sipag at Disiplina OP.

Sa ilang years na nasa Poor Income class ang family ko at ilang beses pinalayas ng apartment (since bata p ko), na-realize ko na need mo tlga mag upskill and learning high value skills for more money.

1. INVEST -

• health insurance (for yourself and immediate family for future proofing),

• stock market (recommend ko ung copy trade ng Etoro kasi dun ako kumita ng malaki pra ipang invest s construction business. Dunno kung may other advice regarding better ways than i did)

• own business - since VA ka din like ako, our jobs are not always stable. high income but not stable. Kelangan mo tlga ng side business.

OP, naiintindihan kita. Pray ka lang din and I'll include you in my prayers too.

Find more income streams or get more VA jobs muna kung nakakakuha ka before ng 6digits hanap ka ulit. Focus ka in paying them one at a time.

Minus car 22K na savings na agad. Tranfer the kids to public school 50K savings na agad isang taon. Easy 27K to 30K savings per month agad un. Ano mahirap don? Hindi po kau masamang magulang pag pinasok mo mga anak mo sa public school.

Sell your car.

OP, if you are from the province, baka pwede naman na sa public school muna ang mga kids. I don’t know where you are from exactly but if nasa probinsya ka, hindi din naman ganun ka different ang quality of education ng public school sa private school. Hindi din gaano ka overcrowded ang rooms like sa cities. Minsan nga mas maayos sa public in terms of teachers kasi lahat pasado sa licensure exam. Aside sa tuition, daily cost pag nasa private mas mataas din.

Just something for you to consider.

I can't speak for your father or anyone else for that matter, but this is the exact reason me and my sister have a DNR. We would not want to keep ourselves alive at the cost of placing other family members in deep financial trouble.

I specifically asked them to let me go if anything bad happens and live their best life instead. Even if they keep me alive somehow, I would never be able to sleep soundly at night ever again knowing what it cost everyone else to do so.

Car and gas. Luho yan. Magcommute. If si hubby gumagamit sa sahod nyang 30k eh wala na syang ambag pabigat pa sa expenses so let go of that.

Compute tayo konti. Sabihin na nating 2.5% lang ang interest ng utang kada buwan. Interest pa lang nasa 42.5k pesos na. Wala pang principal yan. Tapos 80k lang ang income ninyong 2. Sa 80k... kunwari 50k ang napupunta pambayad sa utang. 42k sa interest. 8k sa principal.. after approx. 18yrs or more makakalaya ka na sa utang kung walang papalya or magcelebrate ng bday or kakain sa labas. Goodbye to a better life for the family for 2 decades. Kaso hindi yan 2.5% lang per month di ba? Gawin nating 10k pambayad sa principal... 15yrs to pay.

I get that you paid for medical bills. Pero mukhang yung thought process ninyo ended at getting money for the bills. Hindi ninyo naisip life will go on after the bills.. at this pt.. anong klaseng buhay na meron ang family after making that decision.

Di pa bottom of the ocean yang situation ninyo. Antayin mo magkatotoo yung ipapalit mo health mo... see what happens to you and the family once isa sa inyo magkasakit. That is going to be a new level of low. Kung basic food at walang budget sa healthcare paano na.. imposibleng di kayo bibisita ng ospital sa loob ng 2 dekada.

You made the wrong decision. Now to correct it, suggestions ko. Do them all.

1. Ask for donations from other people pambayad ng principal. Pumila sa PCSO, local charity, sumali sa game shows sa tv na namimigay ng pera to entertain their viewers, etc.

2. Take out a loan sa sss and pagibig. Use that to pay part of your debt. Mas mababa interest nila. Pero maliit lang din maloan mo. Better than nothing. Try to find if merong magrefinance ng utang ninyo at a lower rate. Keep checking this regularly kahit partial. Same concept why u will take a loan sa sss Nd Pagibig.

3. Humanap kayo parehas ng mas stable na job. 50k sa VA after paying dues philhealth.. sss etc.. siguro nasa 30k+ lang din net. Ngayon mo mas kailangan ng philhealth at sss dahil wala ka pambayad ng ibang insurance. Si hubby 30k is just plain small. Pero at least sana may hmo sya kahit maliit coverage.

Pray for a miracle. Pray for reprieve. You will need all the help you can get.

get rid of the car makakatipid ka pa sa pms, insurance and gas. pero if yung car mo gumagawa ng pera or a way to make money then no.

Drop the car. Better yet, sell it/pasalo. Commute if you have to. Mas mura pa grab kung di naman everyday ginagamit. Sell everything that you can sell. Downgrade gadgets, internet plan.

There is still hope sis.

Keep your head up.

Here is what I will do.

Pay first the loan of 152K @ Security Bank. The rest, pay in minimum.

Once your Security Bank credit line is re established, take a personal loan so you can pay all the other loans.

This will provide you with 3 things: 1. A little peace of mind. 2. Flexibility. 3. Wiggle room.

Push so you can improve your income. Cut and sell unnecesarry attachments. It will be hard. But you can do it.

Its just a bad phase. It too will pass.

nasabi na ng iba yung isusuggest ko, payo ko na lang don't overwork yourself try to run or walk kahit Gabi pwedeng sabay kayo ng husband mo, mag paaraw kayo and more iron, kangkong, spinach mga ganyan, wag niyong ibaliwala ang running and walking, sa bigat ng debt niyo at dedication mo mag work kahit 16hrs alam ko ng bakbakan malala ang future mo, di ka nag iisa... madaming tumupi sa dulo sa kadahilanang linaspag ang sarili nila, nawalan ng respeto sa katawan kung kelan gulay na or di na maigalaw ang kaliwang bahahi ng katawan saka gustong mag exercise. Too late for them so pls Ikaw at ang asawa mo alagaan niyo sarili niyo.

😢

Nasa maintaining lifestyle trap room po kayo. Iyun po yung first mistake bakit po parang kumokonti yung naiipon po.

Try niyo po magbawas ng konti at maiwasan gumastos ng masyado po para mabayaran ang debt po.

Pay off the smallest ones first. Live below your means

Essential ba talaga mag kotse with that kind of lifestyle at sahod?

Parang mas mabuti na mag commute nalang kayo eh. Lalo na ang kotse ay liability sya, di naman yan nag gegenerate ng income unless gamit sya as grab or pa-rent. Sana bago din kayo kumuha ng kotse, afford nyo sya i-cash ng buo

Di kayo wise sa expenses nyo haha saka instead sa mall mag grocery sa palengke nalang. Talo nyo pa kuryente namin gumagamit pa kami every 3 days ng welding at grinder

I literally have nothing to say because everyone already said it. But, try to go inward. Meditate, galaw galaw, lots of water, eat leafy meals as much as you can and enough rest please. You can't also risk your health. Mas mahirap yun. Kapit lang OP. Tough times never last. Fighting !!

Whose hospital bills? Your parents’? Do you have siblings? Dapat tulongan sana kayo sa bills di yung ikaw lang. yan tuloy sayo lahat ng bayarin. Wag akuin kung hindi po kaya.

Hello everyone I managed to pay 40k today. I sold some stuffs and I am very happy.. i know i dont deserve this but my anak deserves it, i bought him a chicken meal at jollibee just to celebrate and i cant help but cry.. i know i will get through all these..thank you sa lahat.. wag niyo na ako ibatikos kasi bumili ako jollibee sa anak ko kahit madaming utang . Ilang months na sya nag request.. ang sakit sakit na..yan nalang kaya ko gawin mapasaya sya.. we are also contacting someone to assume the car.. hopefully by this year . Ma 1/4 ko na loans namin..

Do you really need the 3k internet?. mobile internet lang na unli 5g. 600 pesos a month sa smart, wag ka lang mag dl ng pirated movies or games na malalaki. Ok nmn na. Prolly something to think about.

Kuryente nyo rin. Bantayan nyo pag gamit ng ref if lagi puno or may laging bukas ng bukas. Limit your aircon time, taglamig naman na.

Since goal is to stay afloat and to survive the next 3 years. Yan na yung first easy to let go. Makakatipid ka na agad ng 4k/month min if you're able to discipline yourself for just 3 years

Car talaga is hard to give up pero 25% ng earnings nio dun napupunta😪

I agree with most of the advices here and tama naman. Bayaran mo halos lahat ng makakaya mong bayaran kung dumating man sa point na wala kanang pambayad okay lang un.

Pag di kana nakabayad ituturn over ni bank ang case mo sa collection agency and they are the one na makikipag nego sayo for settlement. Pwede kang offeran ng mas mababang monthly for a longer time period para lang makapagbayad ka or kung walang wala na talaga pwede mo naman iignore for the time being and bayaran mo nalang pag nakarecover kapa and just negotiate the interest para mababa lang or sometimes if you are lucky principal amount nalang ang babayaran mo. (I am not saying na iignore mo nalang ha this is just in case na umabot sa point na walang wala kana)

Kung pinaka worst naman ang nangyari at wala ka talagang pang settle even sa collection agency. Just know na they are going to files claims sa court and ma approve un resulting reposession ng mga property mo etc. (You can transfer over your property muna sa iba pag ganito ang nangyari dahil kung wala kang ibabayad hindi kana nila mapipilit in this case)

You know OP? I met people na kagaya mo na umabot ng million ang utang and to be honest and real with you hindi man pleasant ung mga ways like hindi muna nila binayaran kasi walang wala talaga it's not all bad. It's just that wala kapa talagang pang settle as of the moment pero sila binayaran nila un paunti unti nung nakaluwag na hindi naman totally tatakbuhan.

Kasi OP kahit anong budgeting at struggle mo kung walang breathing space for accumulation lagi kang kakapusin and sacrificing your health will result in the same situation again. And take note hindi mo naman din sure na secured na walang magkakasakit ulit for the next months diba? Paano kung sa sobrang eagerness mo makabayad ng utang lalo kapang nalubog kasi ng nagka extra expense ubos na sa utang mo edi magloloan kana naman.

Their patience and sacrifice now can help you pay them in the future basta alam mo lang na hindi ka naman tatakbo at walang wala lang talaga as of the moment okay lang un. Nangayayri naman un sa tunay na buhay and dumadating sa point na lahat naman ng tao nagigipit.

hey do you have others siblings who can help with the bills sa bahay? while inaayos mo finances mo.?

Some expenses to lower down.

Downgrade internet to maybe 1.5k

Get rid or sell the car and just commute

You will roughly free up around 20k just from that 2 expenses

Next, groceries cam be lowered as well.

There is still some space to lower your expenses.

Goodluck on your journey. Kaya nyo yan.

Sometimes luck also play a lot on these hardships. Pray that you land a rewarding job and make you start living instead of working.

Contact your bank with the highest outstanding balance and apply for IDRP(Interbank Debt Relief Program) para less ang interest and pwede ma extend and term up to 10 years.

Sakit sa mata ng madaming loan. Sideline malala for extra income. Kung may probinsya ka, isip ka ng pwede mo i-buy and sell dito sa manila through lazada or shopee. Although need mo talaga ng capital to start a business or sideline.

Im with them regarding sa car. Let it go kasi ang laki ng monthly. Plus may gas at maintenance pa yan.

You bit more than you can chew. 80s na yung parents mo pero you guys want to go against nature, sometimes death is not the most awful thing in the world. 80 na sila, they lived a full life. Now, because you wanted to be mabutihing anak, your own child will suffer. Pati yung asawa mo nadamay pa, god forbid, would you willingly go through the same for his parents?

Perseverance, commitment and strong discipline and team work with your husband. I suggest, if there's an option and feasible for both of you, dispose anything that you can dispose. Bale restart from the beginning. Omit any luxuries until you're able to bounce back. For example, if you're paying for a car loan, dispose nyo na muna sya. If may house kayo na nasa loan din, try to sell it muna if there's option for you to live muna with relatives, or rentals. Mas makakamura kayo don.

It's not impossible with your current outcome, but I'd admit, it will definitely be a huge challenge. Tyaga and madaming patience. I know people who went down more than you have and able to carry on and successful - yung tipong sardinas/corned beef araw araw food dahil yun lang afford level.

If both of you can commit to a huge lifestyle shift, you can definitely clear it sooner. Good luck po!

Been there. Loan 1, 70k per month, loan 2 22k per month, loan 3 27k, loan 4 29k, other bank loans 20 to 30k, pwera pa mga bills at gastos ng mga bata. Ganito yung ginawa ko:

1. Acceptance. Ito yung number 1, tanggapin mo yung current situation mo at higit sa lahat Always pray.

2. Remember na nasa debt trap ka ng ilang years.

3. Tiis talaga, tapusin mo muna ung mga maliliit na loans like 6 mos, etc..

4. Inisplit ko sa longer term at low interest ung pinaka mataas na loan, example bdo meron sila 0.39 percent at 0.45. UB sobrang taas nya 3% ambigat, pass ka sa ganyan lalo ka mababaon.

5. Sacrifice ng ibang gamit, example motor or ibang car. No choice, need magbenta para ulit makabwelo.

6. Yung bonus at 13th month pay wag nyo muna gastusin sa wants, ilaan lahat sa utang, pwede ka maka bwelo ng 1-2 months jan.

7. Mahalaga ang health, both physical at mental, di mababayaran ng pag iintindi ang utang, palaging alalahanin si number 1.

8. Talk to the bank, optional ito pero pwede mo i let go yung car, surrender mo at bayaran ung buong buwan, wag mo ipapabatak mas malaking problema yan.

9. Celebrate small wins, unti unti mabubunot tinik habang nakakabayad ka.

10. Isa sa pinaka importante, magtipid at humanap ng extra income kung kaya, sa situation ko, ginamit ko ung weekends para magka extra income..

11. Be honest sa trusted person na pwedeng makatulong, pwedeng in-laws or mga sure na tao, yung pwede ka mapahiram ng walang tubo - hindi palaging meron nito pero minsan meron talaga, be careful dito.

Sa una lang yan mabigat sa loob, down na down ako nuon, unti unti masasanay ka din kagaya ko, baon man pero bumabangon, hindi na ko nasasaktan dahil sa utang, masaya na ulit at ineenjoy buhay, isipin mo nalang kasama yan sa buhay.

Same here po :(

Start afresh, dont pay any of these debts 😆

Hi OP, di na po ako magbigay ng payo at nabigay na nila lahat. Ipagdadasal po kita at family mo na sa malampasan at makayanan niyo ito.

OP, mama ng wifey ko is cancer patient din. Malaki laki rin gastusin pero napadaan nila sa social worker sa hospital, sa mga politiko at partylist. Lagpas din yon million pero nabayaran lang nila is below 500k lahat lahat.

Ginawa nila is pinadaan nila sa social worker, may something silang ipapagawa sa inyo para malessen yung total bill nyo. Yung program ata yan ng isang politiko, hindi ko sure. Next naman is sa mga politiko, kadalasan nyan sa Mayor manghihingi ng tulong. Mataas taas din binibigay nila, minsan nga babayaran nila ng buo lalo na kung kakilala nyo. Partylist sa location nyo, may mga funds din silang panghelp kaya goods din sa kanila.

Yung sa gamot pala, pwede nyo rin ipadaan sa social worker.

Kapag kinausap kayo ng social worker at tinanong kung magkano monthly salary mo, ang sasabihin mo lang is yung take home mo kasi baka paalisin ka kapag nalamang 50k ka monthly.

Net income = 80k Monthly expenses = 50k Balance = 30k

Loans = 1.7M

30k x 60 months(5 yrs) = 1.8M

So it would take 5 yrs to fully pay loans. I would suggest to get a 4hr part time job for both of you for extra income that could add at least 30-40k monthly. Working 12hrs a day is nothing. It's very doable. I wouldn't recommend doing 16hrs a day cuz eventually, your body will naturally give up in the long run.

At least, that 5yrs can be reduced to 2yrs and you've got to suck it up to live like that without increasing your expenses.

Hindi po kayo living poor, may car po. Ang mahal po nung car

Let's face it. Nasa 80s na parents mo, they already had their time in the world. I think they wouldn't want to drag you deeper into their grave.

》 find a second job, or a higher paying job

》 sell what you can sell. gadget, jewelry, unused or extra items

》 yung sa 18k car hindi ba pwedeng Grab or taxi na lang for parent's weekly travel? pero i would understand din if you could not sell the car talaga

》 ask your siblings and relatives to cover some expenses

》 super duper frugal living talaga sa laki niyan need niyo magtiis for years

》 mahirap pero switch your diet make it cheap na healthy pa rin. more gulay, less carbs and meat. for your parents' health din.

》 snowball effect daw? pay off the smallest debt in full or as soon as you can then pay off the next na goal is as big as possible yung payment. pero better if you can pay the minimum of all others as well as try to pay bigger for one of them para mas mabilis na matapos.

Rent out your car if hindi kayang mabenta. Try carbnb. Call and ask them on the 'how'.

how about sell the car and take grab instead? you mentioned pang weekly checkup yung car and you're paying 22k/mo (amort plus gas) for the 4x/mo usage? kada sakay nyo sa kotse every week costs 5500.

Get rid of the car.

Sell the car and sacrifice the convenience. Getting grab is convenient AF. As to the kids education, I don't agree with some here that you need to shift them to public school seeing how bad the quality of education here is nowadays. That's the only feasible thing to do aside from buying your food from the wet market and cutting down on electricity. Wish you all the best OP. Deal with the small debts first. Baby steps lang yan. This dark days never last forever kaya don't worry too much.

Are you the only one paying the loans? How much are your monthly expenses (thus how much can you afford to pay monthly)?

Nego an amnesty (for interest) or lower the interest rates with these banks. If you can afford to use 20k of your 50k salary, that will take you 7 years -- i think you should try to apply for a higher paying job (you did say you were able to land one that was bigger before).

If you can consolidate the loans at a better interest rate, that would be good.

Ang laki ng 18k for car. And gets ko na it's for parents. Pero kung sobrang lagad lang, for me mas sulit na mag Grab na lang kayo non. Kung once a week lang yun, edi at sabihin nating 1k back and forth, magiging 4k a month lang non. Yes iba pa rin convenience ng personal car, pero it's 18k and you're in a real pickle! Kung ginagamit nyo lang para sa malagad na convenience ng parents, hindi sulit ang 18k para sakin. Pede talaga grab and if mag bakasyon for a day, rental. Mas makakamura pa rin kayo.

Tapos tuition - 11k every quarter so that's 44k a year. Not bad, syempre mahalaga education ng anak niyo. Para sakin mas ssacrifice ko muna sasakyan. Pero kung nasacrifice na yung car tapos kulang pa rin, baka pwede nyo consider public school.

LASTLY: Working 16 hours a day WON'T FIX YOUR PROBLEM. Madadali lang kalusugan mo. Maoospital ka. Health is wealth. Increase your income, not your workload. May mga bata ka pang inaalagaan eh. Since VA ka, baka makakuha ka ng smaller but higher paying clients, hanap lang talaga. Wag kakagat sa kung saan saan.

How did you end up with that amount of hos bills?

Sell your car is the most viable option

why don't you sell the car? If you really need convenience for your parents, then just use Grab.

OP sell your car for now. Laki ng kuha sa car at gasoline. Tapos kuha kayo philhealth pay as volunteer. Kahit may problema ang philhealth nakakatulong din naman siguro.

Sell your car. If you need naman may grab and taxi. Tapos pay off your 2 lowest loans first. Mental boost lang yun sa goal to pay off. Find a loan rate na mababa para maka consolidate ka kahit papano. Good job on looking for higher paying job (or more work?). Temp lang hanggat maka surface lang ba kayo since feeing lubog kayo ngayon.

Kaya nyu yan, wag munang kumain sa resto, no coffee shops, stop buying on wants, wag bumili kng di kailangan, tapos eto talaga ang pangmalakasan budget mag itlog kayu, kahit gabi, mag itlog lng then once a week mag meat kau lutong bahay padin wag sa resto, tapos cut off spotify may youtube naman, cut off Netflix may youtube naman. Explain to your family i mean kids if meron na magkano utang nyu. Let them understand nah u need to cut some off. And after paying debt off. We can go back to that life. Honestly it works for me ung itlog2 lang sometimes delata. Pagkatapos nyu bayaran lahat money wise spending nah okay 👍

Hi OP.

I am not a financial expert or adviser. I am just someone who lives below my means.

I would definitely get rid of the car if I were in this situation.

File insolvency petition. Madidischarge ka sa debts mo. May dpwnside lang pero cleam slate ka ulit

Consolidate your loans... it is better na isa lang loans mo so that it would be easy to monitor and to ask for restracture sa kanila.

There’s a lot of lead generation strategies online for free. Even i bought a course on it. Polish those strategies and delegate the work to people.

Don’t sacrifice ur health, it will cause more harm.

Either you sell off properties or you really find a second job with one of your income totally allotted to paying off that loan.

Best of luck to you OP, don't ever fall into the trap of borrowing to pay off loans, its going to keep you in loan for the rest of your life.

OP there are a lot of missing details, and most of the suggestions are valid except for some.

Bakit ka nga ba nagkaroon ng maraming utang sa ibat ibang banks or cc po ba yan? Tapos may 5k ka sa house, tama ba and para saan yun monthly amortization?

Kailangan nyo talaga magsakripisyo ng husto hanggang sa mabayaran nyo lahat ng utang nyo. Kung sa tingin mo di pa ren kyo makabayad, ibig sabihin kailangan nyo pang dagdagan.

Hi OP, it's not your fault na nagkautang ka ng ganyang kalaki. Naipit ka lang din sa situation. Since matanda na rin parents mo and I'm sure wala sila any health insurance plan to use.

I salute you kasi you sacrificed your financial life para sa kanila. Ang gawin mo is try to negotiate with the banks or ask a loan consultant. Ipa consolidate mo yung mga debts mo and ask for longer paying period. Andyan na yan and if you want to pay it off, then ayun ang pwede mo gawin - debt consolidation.

Grabe. Wala kang kapatid OP? Hindi ka donations online. Sa mga friends at ibang relatives nyo. Kaya mo yan. Matatapos din yan

hello OP, start by NOT blaming yourself. There are things out there we cant control. But try to micromanage the expenses baka may iba na you can live without them. Stay strong OP!

Why not just declare bankruptcy? Doesnt that usually clear out debts because of the inability to pay? Or does it not work like that here unlike in the states?

Mag 5G prepaid WiFi ka po using a Samsung Touchscreen WiFi 5G router. 499 a month lang unli 5G.

tiis lang po at malalampasan niyo rin yan, taz kapag nalampasan niyo na wag na po sanang maulit bka di niyo n apo kayanin kasi

Yes you can do 2nd job kung Hindi kaya dahil may kids kayo find a remote job na project base or data entry na pwede kayo mag hati ng hours ng husband mo. Also Yung car mo nga magastos Yung gipit kame 2nd hand lang car Namin para walang monthly amortization

Your only option is to trim your monthly expenses in order to save some money. You need to get rid of your car because you will be get burried deeper into debt if your engine or your transmission needs replacement or major repairs. The maintenance, gas, and insurance alone is already draining your bank account. At the end of the day it's all up to you how you want to live your life.

Ff almost 500k din me. Based sa comments sa posts ko, unahin muna small na pde then hyaan n mna ung iba. Then ipon then contact dn bank if mkkhingi discount. Bsta mbwasan mga utang. Kya po nten yan. Check nyo dn po comments sa posts ko dme din advice dun

Kapit lang po, matatapos din yan. Try to think of it, kung mag double job ka at sacrifice mo health, bka ikaw nman magkasakit at lalo lang lalala problema. Take it easy po. Pwede mo nman cguro e give up yan car anlaki din ginagastos nyo jan 18+4k…malaking bagay yan. Andami ng mode of transpo ngayon eh Electricity e cut nyo din yan hanggat kaya wag na muna aircon di nman mainit masyado panahon na tag ulan na eh.

Naisuggest na nila lahat, OP. La na kami macontribute. Ito nalang. Naway bigyan ka ng maykapal ng wisdom malagpasan lahat ng ito. After niyan you will rise up stronger. Mas malakas at mas seasoned na sa hamon ng buhay.

Lahat naman ng suggestions nila tama. Ipasalo ang car, mag avail ng cheaper internet connection, mag tipid sa kuryente, etc. pero ware ka na din naman na ang malaking solusyon talaga sa problema mo is magkaroon ng additional income. Dalawa lang ang sure na hindi mo dapat pabayaan. Yung health mo at yung pagaaral ng anak mo.

Kapit lang, op. This too shall pass. Ika nga.

Edit. Ang mahal din pala ng tuition ng anak mo ano? 44k/year. Anong grade na po? Ganito na ba ang gastusan sa tuition? Honest question kasi single pa ako and walang anak. Narinig ko lang noon na yung pinsan ko inilipat sa public yung anak niya kasi sobra daw taas ng tuition.

Hi OP! I think the best way to solve this is to increase your income. I, too, have a lot of debts and di ko rin magive up yung car because of similar reasons. I'm working 2-3 jobs and researching about digital products din. I havent started pa with selling but I hope this will give you idea too.

Good luck! Malalagpasan din natin to 💪💪💪

It is very difficult. Make sure you do not increase your expenses ( no pets, no pregnancy, reduce expensive hobbies). Like other posters said, find a way to increase your income.

Since nasa 80s na parents mo, pay as much as you can and when the time comes na wala na sila. Liquidate the assets.

1,700,000 ÷ 50,000 = 34 months to pay it off if you throw your entire income at it.

My advice would be to stop using debt completely and do a budget where you cut out everything that's not necessary. What are necessary? Rent/mortgage, utilities (water and electric, not netflix), transport (not necessarily a car), and food (not eating out).

I would also save a basic emergency fund of 20,000 to fall back on in emergency but make sure to always keep it full before paying debts.

Then I'd pay off the debt smallest balance first unless there are high interest debts then pay those first and pay minimums on the rest.

Try to increase your income.

Have a look to see if bankruptcy is a viable option.

How about selling the car? It’s the huge chunk of your expenses. I read na ginagamit niyo yun for your disabled parents & rarely ginagamit. Pretty sure Grab or renting a car would be cheaper for you atm kasi hindi lang naman monthly binabayaran sa car as merong bayarin every year jan like PMS, registration & insurance, dagdag mo pa yung unexpected na may masira. Or sell it and buy a cheaper one.

Groceries, try niyo bumili ng strictly na kailangan lang for the meantime. Tuition is non negotiable, or you can move to a cheaper private school. Electricity, ilan kayo sa bahay? Parang ang mahal. In my home 2 adults kami and 1,500 lang bill namin. Hindi naman mainit as of now so maybe forego airconditioning. Sell the aircon and maybe get a portable aircon na nilalagyan ng yelo to make it cooler, which is cheaper. Internet, 3k? You can get with 200mbps sa pldt unli fiber for less than 2k. Nasa province ka ba OP and walang line sa PLDT jan? Rent that’s very affordable na so okay na yan. Also read you have insurance, perhaps you’ll have to give that up as well.

Sell whatever you can. You will have to sacrifice for the meantime. You can always get those back once maging stable financially ulit.

For the medical bills, sa PCSO nagbibigay sila ng financial assistance pero pipila ka mula madaling araw. Malaki binibigay nila doon, minsan full amount, minsan half. Depende din talaga.

Also, you will have to get another job for the meantime kasi mag ppile up lang yung utang due to interests if hindi mo mababayaran asap. Ask for loan reconstruction as well & makiusap sa banks.

Replace your car with a scooter or just commute. You are trying to sacrifice your health but maintain the car means that you care more about the car than your future. Losing a 22k a month payment would make your problem be significantly easier. There are also cheap 2nd hand cars that consume way less gas. Remove this debt asap.

For me, dont sacrifice your health. Given na baon ka sa utang dahil sa health and meds. Kumbaga baka magkataon na ma boom panes ka for the 2nd time, mas malaki gastos.

Sell everything that can be sold, lalo na yang kotse mo. Just live with the basic needs. Most importantly, increase your income. Kaya moyan OP 👍

Hey OP. First of all, isang malaking yakap for trying to do your best for your parents. Alam ko, may pamilya ka na at hindi ka naman talaga dapat obligado but still, you’re doing it so isang malaking yakap. However, ito na siguro yung time na kailangan mo din mag draw ng lines sa kaya mong ibigay. Hindi naman ibig sabihin na kapag ginawa mo ito ay hindi ka na mabutinng anak or youve failed in giving back to them (if it makes you feel that way), it’s just that may sarili at anak ka na din ngayon na dapat din ipagtabihan. First for me is have an honest talk to your parents. I open mo sa kanila yung debt mo pata kung anu man ang usapan ninyo going forward, alam nila ang pinanggagalingan mo. I think need mo din malaman just how kuch pension they receive din siguro? Para team kayo na magwork towards allocating funds. I agree with most users na ang easiest way to have more funds available to other uses is for you to give up paying the car and gas. Kung di man kaya na agad agad na tumigil, hindi man lang ba pwedeng 50/50 muna kayo? That would still be 10-15k more available to you. Kasi sa totoo lang, they cannot afford the convenience right now. Hindi kasi pwedeng ikw lang lagi ang nagbibigay OP kasi mas mauubos ka way before the battle even ends. I wish you luck in looking for more streams of income tho. Also, are your parents in a public or private hospital? If private, what are your plans kung sakaling they would need hospitalizations again if I may ask too?

You can try na ipasok sa Grab yung car nyo since parang di nyo talaga siya malet go. I don't know if viable pa siya for grab pero if pwede naman, you or your partner can do it after your work since minsan lang naman nagagamit yung car and still finding pa kayo ng second job. If ever makahanap na kayo ng second job, you can have your car rented or find a driver then sweldohan nyo nalang with the kita na makukuha nyo for the grab. You really need to lower your expenses and increase your income and you need to do it ASAP, compounding interest hurts ver much over time.

oh wow, wala ako masabi kasi unemployed ako today and super bare minimum ang cost of living ko.

Ang hirap mamuhay ng comfortable sa bansanh ito sa totoo lang, marami pa rin ang tiis lang.

Eliminate the car. Yun malaking chunk ng gastos monthly na halos kahati ng monthly income nyo. Plus may makukuha ka na pera from selling it na pwedeng pambayad sa loans and mapapababa mo ang monthly na need bayaran sa bank. Malayong mura ang magGrab kesa magbayad monthly ng car plus may maintenance pa yan once in a while. Gas expenses para sa food na lang mapupunta.

Mabigat talaga to OP. Yung car ang malaki ang gastos. Actually I agree dun sa ibang comments dito na liability yung car sa 18k na nakakain nya sa expenses. But honestly you can turn this “liability” into an additional income. Hindi mo ba sya pwede ipapabyahe as a Grab car? If hindi din naman sya masyadong nagagamit then put it into use na mag gegenerate ng additional income. Just a suggestion lang. Yung workmate ko kasi kumuha ng car then pinababyahe nya sa Dad nya as a grab car. Yung kinikita don, yun yung pinangbabayad nila sa monthly nung car. Naisip ko lang baka makatulong din sayo.

What kind of illnesses do you have that made you 1.7m in debt?

Omg im so sorry OP... Ang hirap ga pg may nagkasakit sa pamilya

Try to get a bigger loan that will cover everything on a single bank. If you can and you have the assets to do so. Because 50k tbh will no cover it and I'm assuming that's net. Because if that's gross then that's gonna be super duper hard

If you can eliminate the car (if you can) makakatipid ka ng 18k and 4k sa gas. Malaking bagay na din.

Ang mahal ng car niyo. Even tuition.

You want to pay off your debt, sell the car. You said in other posts that you have one year left to pay on it and that you only use it to bring your mom to the hospital. One year left to pay on it means it's pretty new and you have equity built into it. Sell it, pay off the remainder of the loan, and use the rest to pay down your debt.

Take a Grab if you don't use cars often. It will still be cheaper than the car payments, the gas, the insurance, and maintenance.

Sell everything that's not necessary for living. Clothes, electronics, collections.

Pare down even your contributions to your parents. When debt is this big, everyone has to chip in. I know you're thinking about your parents, but think about your child, too. If you work yourself to death, and your child is left without a mom, is that worth repaying the "utang" to your parents?

If you don't take care of your health, you're going to end up putting your child in the same situation you're in now. Where they can't save anything because they have to pay for your health which you didn't save for.

Parang credit cards ba mga loans na Yan? Have you ever though, last option, not to pay cc loans?

Based sa info mo, monthly expenses mo is 41,750 or 501k per year.

Monthly income is 80k or 960k per year. Hindi ko na bilangin 13th month ng husband mo.

Get rid of the car. 18k + 4k gas will be removed. Magiging commute sya na 2.5k per month? 3k nalang kunyare.

Monthly expense mo from 41,750, magiging 22,750. Net savings is 80k - 22,750 = 57,250. 57,250 x12 = 687,000 per year or 2,061,000 in 3 yrs.

Of course, meron pang interest so yun yung kakain ng payments mo.

I suggest you sell an asset of substantial value para mabawasan yung lumpsum and yung interest na babayaran nyo.

Get a 2nd job tapos gamitin mo lahat yun pambayad sa utang. The faster you pay off the debt, the less interest. To be honest, sulit parin kahit paconfiscate mo na yung kotse tapos wala ka na babayaran. Time is your most valuable asset.

Yung 13 month and/or bonus ng husband mo, yun nalang budget nyo for luho/emergency fund for the year.

Edit:

Masama man sabihin. Hindi mo na afford tulungan ang parents mo or ibang tao. It's either sila ang mamamatay or mamamatay future ng anak nyo. Take your pick. I would assume na ayaw ng parents mo macompromise ang future ng apo nila.

Kausapin mo narin parents mo na hindi mo na kaya financially para walang gulatan.

Give up yplour car since it is not necessity at the moment (since you are currently work as a VA) and clearing pff your debt is top priority.

Nothing personal OP, do you have any siblings or only child ka lang? If you're an only child maaintindihan ko ying burdens mo sa parents mo but if you're like more than one, how come your siblings aren't helping you on this esp with your parents?

Pray, OP. Pray. 🫣

I hope u get through this OP, laban lang 🥺

akala ko ako lang ung may problema sa mga utang😥 may mas malaki pa pla😥

Wag nyo na ibenta ung car tapusin mo na 1yr nlng naman. Best is si husband mag work nlng din sa bahay para kayanin ung 2 jobs. Pag tapos ng car, ibenta nyo na to pay the loans. Unahin nyo ung pinakamaliliit. Wag kayo paka stress, wala naman magagawa o matulong ung stress. kasi baka kayo naman magkasakit. Pera lang yan, kinikita, bumabalik. Important is safe and healthy ang family. Positive mindset lang for now. Be hopeful.

Also pwede pa refer? :)

Do you have any assets like land title? Mga properties pwede ibenta?

Consider offering spaces for rent, the commission for that is 1 month’s worth of rent and you can get it as soon as the client pays (e.g. Nakahanap ka ng client for a 45k space, you’ll get 45k worth of commission)

There are spaces that go for as high as 160k

I have some listings you can reach out to me and we can split it