REPOST: I am broke and in debt.
29 Oct 2011, 7:21 pm
I have a worthless college degree and a computer technician certification. There are so many computer techs here in Sacramento, CA that I can't compete with techs asking $20 flat fee for repairs. Recently I decided to repair iPhones instead. I tried repairing desktop and laptop computers, but there are too many of both kinds of repairmen here. There are a lot fewer people doing iPhone repairs.
My mom keeps discouraging me, saying that "people go through cell phones like water, if one breaks they simply buy another" and she keeps telling me to look for a job. (I am in the second worst large job market in the US; only Las Vegas is worse.) Apparently she's not aware of how much an iPhone costs (something like $300 WITH a really expensive data plan, and then the cost of the phone can go as high as $700).
IPhone screens tend to break (they're glass) and the battery is sealed inside so if your battery dies you either do what Apple recommends and shell out a few hundred for a new phone or you go to a garage repairman to replace your battery. My mom doesn't think that it will work, and she says "just get a job". Also, if I somehow DID get a job my SSI and Medicare would be cut off, and then I wouldn't have my meds. I have debt to pay that bankruptcy didn't wipe out. Nobody's on my side here. I have no encouragement.
I am a member of a computer technician's forum and a few techs have a limited business on the side fixing old iPhones. For me, limited business is better than no business, especially since I have no business right now. I looked on Sacramento Craigslist and there are about 15 ads for iPhone service, but some seem like duplicate ads, so there are about 6 or 7 people doing it I figure.
I have to pay this debt, and I can only put about $500 from my check every month towards it, and it's $9500 right now. My mom took out $20k three years ago to help me with the website I tried to start, that failed, and I had to file bankruptcy. I couldn't get rid of this debt though, since it's in my mom's name. She isn't able to pay the payments, so I have to. The minimum payment is $340. I NEED to make more money, but I can't seem to be able to.
29 Oct 2011, 7:50 pm
you can have a job and still get SSI and medical benefits. they take away $1 of SSI payment for every $2 you make. even if your SSI payment goes to zero, you still get your medical benefits up to a point. once you reach that point, you can get MAWD (medical assistance for the working disabled) for a payment of 5% of your income.
that said, fixing iphones doesn't sound like a bad idea. show your mom you can do it if that's the road you choose.
29 Oct 2011, 11:12 pm
My mom keeps discouraging me, saying that "people go through cell phones like water, if one breaks they simply buy another" and she keeps telling me to look for a job. (I am in the second worst large job market in the US; only Las Vegas is worse.) Apparently she's not aware of how much an iPhone costs (something like $300 WITH a really expensive data plan, and then the cost of the phone can go as high as $700).
IPhone screens tend to break (they're glass) and the battery is sealed inside so if your battery dies you either do what Apple recommends and shell out a few hundred for a new phone or you go to a garage repairman to replace your battery. My mom doesn't think that it will work, and she says "just get a job". Also, if I somehow DID get a job my SSI and Medicare would be cut off, and then I wouldn't have my meds. I have debt to pay that bankruptcy didn't wipe out. Nobody's on my side here. I have no encouragement.
I am a member of a computer technician's forum and a few techs have a limited business on the side fixing old iPhones. For me, limited business is better than no business, especially since I have no business right now. I looked on Sacramento Craigslist and there are about 15 ads for iPhone service, but some seem like duplicate ads, so there are about 6 or 7 people doing it I figure.
I have to pay this debt, and I can only put about $500 from my check every month towards it, and it's $9500 right now. My mom took out $20k three years ago to help me with the website I tried to start, that failed, and I had to file bankruptcy. I couldn't get rid of this debt though, since it's in my mom's name. She isn't able to pay the payments, so I have to. The minimum payment is $340. I NEED to make more money, but I can't seem to be able to.
You know the market better than your mother so don't let her comments discourage you. Some of the best ideas are the least obvious, so of course people are going to doubt them.
You can actually have a job without it cutting off the SSI. They deduct a certain amount based on how much you make. If the deduction is equal to the entire check...that is to say, you are making essentially as much as they would give you or more, then you can continue like that for a year before the SSI is permanently discontinued (though you can re-apply in the future). Here is something you must do though in order to do that. Get copies of all of the records you submitted when apply for SSI, because SSI does not hold on to them for more than a few years, nor do the institutions from which they came, and you will likely need them if you ever lose the SSI and have to re-apply.
I don't think you should be too hard on yourself for the failed website business. Most businesses fail and most professional entrepreneurs have at least three big failures before a success. That being said, it's generally more ideal to have star ups funded by those who know they are taking a risk, and who are willing to take it. These would be "angels" and venture capitalist firms that are funded by limited partners.
These people actually want good ideas and the firms typically play a large part in helping to set up and manage the business. You should read some business case studies. They can be very interesting and encouraging. A lot of successful businesses were a long time in the making, or were facing corporate giants as competitors, but they managed to find a point of leverage somewhere along the way and had investors who understood the risks they were taking and the strengths of the business and stuck by them.
