How to Get out of Debt When There is No Money

Writer and TV finance expert Suze Orman at the Time 100 Gala, May 3, 2010. Photo by David Shankbone.

I absolutely adore Suze Orman and her financial brains and wit!  I read everything I can possibly find that she writes, and retain as much as my Lyme Brain will let me.  My Facebook notifications are set to let me know whenever she posts something on her Facebook account cause I don’t want to miss a thing.  With every post she makes, whether it’s advice, suggestions or even an inspiring mime, the desire to put another dollar away into savings is switched on instantly.

Suze gives great debt and savings advice to everyone, from:

• young adults over their head and drowning in student loans;
• young couples wanting to buy their first home with bad credit scores;
• single parents trying to balance a JOB, daycare and home life, while trying to get back on their feet financially after divorce;
• anyone with credit card debt.

TO:

Sadly, where I’m going with this, there is no “To”, unless I missed it somewhere.  I often wonder what kind of advice Suze would give to all those with chronic health conditions, such as Chronic Lyme Disease , who live paycheck-to-paycheck, who have accumulated a large amount of debt due to having to pay for their own medical care, healthcare (sorry, meant ‘sick care’), prescriptions and supplements that are NOT covered under their healthcare plan because “Lyme Disease does not exist”.   This also applies to anyone suffering from any chronic health issue that is not covered under their health plan.

These families have already used up their entire savings, including retirement 401K’s, and don’t even qualify for another refinance on their home because their debt outweighs their home’s value.  Most times, the head-of-household has been forced to quit their job due to their own health issues or to provide 24/7 care to a loved one stricken with chronic illness.

I know many, many families who, after paying housing expenses, utilities, health insurance premiums and putting food on the table, have just enough money left over to pay the minimum balance on their credit card bills.

How do these families get out from under their debt and attempt to rebuild their financial portfolio while they may still have many more months, if not years, ahead of them for Lyme treatment?  I’ve considered posting this on Suze’s Facebook page, but sadly again, every question anyone asks goes unanswered.

Does anyone have an realistic solutions or ideas for these poor people?  What kind of advice do you think Suze would give these families?