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Article: "We're sick of struggling!" Nancy and Dennis Lovato have played by the rules--they've worked hard and steered clear of credit card debt. But with mounting medical bills and missed mortgage payments, this couple feels they're just steps away from bankruptcy. Our money expert has tips to help.(money makeover)
- Article from:
- Redbook
- Article date:
- June 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Hearst Communications, reprinted with permission of Hearst. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nancy and Dennis Lovato worry about money all the time. With a large family to support--three daughters, Jessica, 19, Denice, 15, and Lexis, 3, as well as a 3-month-old grandson, Dominick--their top priority is to get a fix on their finances. "We live paycheck to paycheck," says Nancy, 35, an administrative assistant for the Las Cruces, NM, police. "Whenever the phone tings, we worry that it's a bill collector."
While the Lovatos don't have any credit card debt, in recent months they've been hit with some unexpected costs that threw their budget into a tailspin. There's a $3,500 loan they took out to repair their broken septic ...
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