Dear Creditors:
This is to inform you that as of August 2, 2011, I will be temporarily suspending all payments on my current obligations.
Unfortunately this has become necessary because, based on my current contracts, agreements and other necessary spending, I will run out of cash by August 1. While in the past, I have gone to financial institutions or – if necessary – friends and/or family to secure loans in order to stay current, ‘greater minds than mine’ have informed me that these actions have been irresponsible. Even though I have already assumed these obligations, I am advised that I should suspend paying all of my bills until such time as I have formulated a plan that will reduce my level of future spending to the point that outside financing will not be necessary.
This may take a while, as the vast majority of my expenses are for necessities; rent, food, clothing, transportation, health insurance, assault weapons, ammunition, etc. Then, of course, there’s things like phone and internet. While some I have asked feel these are unnecessary luxuries, others tell me they are essential. While I think getting rid of them entirely might actually do more harm than good, as it would greatly hamper any efforts to secure full-time employment, I’ll need to figure out a way to cut these costs.
As for luxuries such as ‘going out once in a while’, I’ve discontinued that – but as I had already cut back significantly, the present savings are minimal.
I had thought about asking my employers to pay more for my services in order to increase my revenue to a level where I might — along with cutting back on non-essentials such as meat and fresh fruits and vegetables – be able to make ends meet. But again, I have been advised that revenue is not my problem – spending is.
So, since it would be irresponsible of me to pay current obligations and necessary expenses until I have a fiscally responsible plan to avoid future debt in place, as stated above, I will suspend all payments effective August 2nd. I am unable to tell you at present when the new plan will be in place, but remain confident it won’t be long, as by August 5th or 6th I imagine I’ll be getting pretty hungry.
In the event you don’t hear from me by August 10th, I have enclosed contact information for the executor of my estate.
I remain confident that this necessary action will in no way impact our future business relationships, particularly in areas such as the fees and interest charged on my accounts.
