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So many people in the United States are having difficulties with their rent and mortgage on a monthly basis. When you combine a number of social factors with lack of knowledge and financial resources, there is often a recipe for disaster. When the month comes to an end many of us are faced with an issue of borrowing money to pay rent on time or simply skipping it and hoping for the best. Below are some of the common reasons people have trouble with paying their rent at the end of the month.
1. Lack of financial discipline and planning. Unfortunately, a big reason why many Americans can't pay their rent on time is due to irresponsible spending and poor budget planning. Our national debt is at an all time high which shows we generally live outside of our financial means and limitations. This leads to many individuals seeking rent help at the end of the month.
2. Wages down, prices up. Our economic situation today in America has led to an overwhelming increase in debt and financial difficulties. Unemployment is rising while wages are declining. Alongside our declining wages are an abundance of price increases for necessary purchases.
3. Rent prices can simply be too high. Let's be serious. Not everyone want's to live in a low income area. Generally, low income areas in the United States positively correlate with higher crime. In order to live outside of high crime areas, we are forced to pay for it. In many cases this causes individuals to live in an apartment outside of their financial means.
4. The downward spiral of debt. With debt comes more debt. In order to get out of debt we have to pull our more loans. This can easily lead to an increase in rent related financial concern. When an individuals monthly bills out weight their wage, the ability to pay rent on time becomes more and more difficult.
5. Lack of government rent help. Right now the primary focus on housing and development is toward home owners. Mortgage relief options are rising while taking over some of our rent help options. Local and government rent help solutions are at an all time low.
6. Misleading advertising towards poor borrowing. While looking online for rent help solutions, the vast abundance of online options revolve around taking out bad loans that will only increase debt and rent problems down the road. It's important to stay away from shady lenders and focus on government or local rent help resources.
7. Family support is declining. Many people in America that rent are part of a younger generation. In the past it's been much easier for those having rent trouble to simply call their parents and ask for it. Unfortunately, many of our parents are suffering from financial and mortgage related issues at the same time causing many resources to dry out.
November 30, 2010
Re: Financial Assistance
To Whom It May Concern:
My name is Kevin Carter and I am struggling in paying my rent. My wife lost her job and I was stabbed (I am a victim of violent attack) about a couple of years ago. Consequently, I have been left with permanent nerve damage and lost my second job because I could not perform. I am currently working full time and have been at the same job for 15yrs. However, I don't make enough every month to cover all the bills and RENT. I am currently paying and have been paying over $1,000 in child support for the last 17 yrs (which I am currently trying to have adjusted do to my current situation and new responsibilities)
My fiancé and I are currently living in a 2 bedroom apartment with our 5 kids in Sunnyvale, at
403 Roosevelt Ave # 4, 94085.
The kid’s ages are 1 girl 2 years old, 4 boys 9 months, 11 years, 12 years and 21 years. Our 21 yr old has no job and just got out of jail with no where to go at this time.
The 21 year old is in school full time now (thru financial aid) and is looking for a job full time but has been unsuccessful in finding one.
Rent was $1,200 but is now $1,250 a month and we need to pay $1,360 by the 17th do to late charges (for this month and last month). We were late with rent because I am not always able to work a full schedule when the nerve damage in my arm is too painful to function (eat, sleep, think, move, etc… and pain medication is out of the question because it doesn’t work…just makes me sick). I made $380.10 for two weeks and $584.85 the following two weeks. Part of that money went to last months rent and bills.
Additionally, we qualified for food stamps/SNAP. The draw back is we don’t qualify for cash assistance because I have a job.
My family and I have been very honest with every source that can help us…but no one seems to be able to because I have a job…The catch is that I wont have a job soon if I am homeless with my fiancé and 5 kids.
Please advise if there is anything you can do to help.
More than Sincere,
Kevin and Family
Posted by: Kevin | 11/30/2010 at 04:45 PM