Exact Approximations

Friday, August 04, 2006

If Only I Lived a Simple Life, Like Those People in the Middle East.

So I quit smoking cigarettes. It's just not monetarily feasible. I'm on Day 1 and I want to bite off something's head, like that one guy did last week when his pet rooster attacked his pet pigeon...

Anyhow, I am having a financial crisis and am trying to figure out what to do to fix the situation.

First is the possibility of giving up my car. Last September, I bought a car and am making monthly payments on my beloved Allie the Altima. But I figure if I went without the car payments and the corresponding insurance, I would be better off. My concern is this - I have put 30,000 miles on the car, caused some minor cosmetic damage (as I am a really bad parker). But I am wondering, and if anyone knows, please tell - what happens when you surrender a car you are making payments on? I'm only a year into the payments, so I'm still basically just paying interest. I haven't paid enough on it to create a situation where I could sell the thing off or find someone to take over payments. I owe way more than the value of the vehicle. So I'm wondering, if I give up the car - will the financing company sue me for damages for the decreased value of the car? Am I going to be making lawsuit payments of equal value of the damn car - only without the damned car...? Anyone have any knowledge on this subject?

The other thing is worrying about the future of my job. I'm seriously concerned that I failed the bar again. If that happens, I don't know whether The Boss will fire me, but I do know that he definitely won't give me a raise. So part of me thinks I should start looking for a new job now - sending out applications with "waiting on July 2006 bar results" in my cover letter. That way, if I can sell out and get a big firm to hire me, they might keep me around if I do fail and let me try again come February. But if I do pass the bar, The Boss will give me a raise. And I would much rather stay with The Boss. I also feel like a complete asshole for even considering bailing on The Boss after he invested in me after I failed the bar the first time. But if I wait it out and it turns out I did fail again, I get no raise. And then, after knowing I failed, I'm in no position to go out and get a job at another firm. So the question is - do I risk it and wait out the results of this July's bar exam, or do I look for a new gig now, while I can still say "I sat in July and I've got a Berkeley J.D."?

Questions, questions...


Also, CECU, would you hate me forever if I sold my piano? I've been selling things off left and right to get by and am thinking I might have to sell off my most prized possession. I don't know what I would do without a piano, it would break my heart not to have it. But it will really break my life not to have electricity.

6 Comments:

  • I think the boss wil give you a raise even if you didnt pass the bar (which you did) it just wont be as substantial if you didnt.
    Dont jump ship just yet, you may surpripse yourself and he may surprise you.
    bf

    By Anonymous Anonymous, at 1:52 PM  

  • I'm pretty conservative when it comes to leaving a job, but I would stick with your current position.

    I think it might be hard for you to get a significant raise. If I was a firm you applied to and I wanted to hire you, I would try to wait you out until your bar results were returned. If I didn't wait you out, I would offer you a position at a very low rate with an agreement we would re-negotiate after the bar results.

    By Anonymous Anonymous, at 8:49 AM  

  • I would stick with your current position. How are you going to explain that you have been working for Boss for almost a year. There would be a large time lapse in your resume if you didn't tell any new perspective employers. And when they find out about that, they are going to ask for references! Stay were you are!

    As for the piano...how much are you going to sell it for? It has been in "my" family for about 65 years...It was my dad's first piano. It was the piano I learned on. All that sentimentalness aside, perhaps we need to talk about this one! Being that you are in AZ and I in FL, transporting that thing could be a bust! Not sure what I would do with it anyway. Let's Talk!

    By Blogger Crazy East Coast Uncle, at 6:51 PM  

  • Since you don't call and I only hear what's going on if I call you or read your blog... do you need a loan?
    Loony Tunes Aunt

    By Anonymous Anonymous, at 8:33 AM  

  • as for the car.. you are buried in it.. suck it up.. figure out a way to make the payments.. Either that or if it happens to get stolen.. that is the only other way out. If it's stolen you have insurance for that.The insurance will pay off the car. You will be free and clear of it. For all this stress.. you have a couple of weeks to go.. you will be fine.. you passed already.. your raise will be awesome.
    Loony Tunes Aunt..

    By Anonymous Anonymous, at 8:37 AM  

  • If you were to "surrender" your car, the finance company would sell it for what it's worth, and then go after you for the difference. They would obtain a judgment against you for that amount. The judgment and a voluntary repossession would then go on your credit, and you would have a very hard time getting a loan for a long time.

    By Anonymous Anonymous, at 4:59 PM  

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