Wease Posted May 5, 2011 Report Share Posted May 5, 2011 We're not talking about medical debt here. We're talking about stupid financial decisions. Learn to love Dave Ramsey, people. Can't wait to retire early and laugh at the suckers still mired in debt... Quote Link to comment Share on other sites More sharing options...
Orion Posted May 5, 2011 Report Share Posted May 5, 2011 Live like no one else so that you can live like no one else. FPU rulez. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted May 5, 2011 Report Share Posted May 5, 2011 www.ohiolaws.com My wife works for BK firm in westerville. Check out the site and ask for Sara Tell Sara Tamie says Hello Tamie is my wife and they know each other well. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted May 6, 2011 Report Share Posted May 6, 2011 Good for you......not everybody is so fortunate. Sometimes when its a choice between eating and paying your school loans or CC you choose to eat. Yeah, losing my job right after buying a home is sure fortunate. Ramon noodles are $.20/bag - you can eat for very cheap if you really want to pinch pennies. Mac N' Cheese can be had @ $.60/box. It's called making a sacrifice. Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 6, 2011 Author Report Share Posted May 6, 2011 Calling all creditors to see what they are willing to take as a lump settlement. Went through my credit report and other bills that have not yet hit. I am under the $20k mark with all of it thank God! Thanks for the help so far people, I am trying to avoid bankruptcy but it may be the best option to stop wages from being garnished. Quote Link to comment Share on other sites More sharing options...
Trouble Maker Posted May 6, 2011 Report Share Posted May 6, 2011 Really? Declaring bankruptcy for $20k in debt? Tighten your belt and do work son. You will feel 100X better if you pay it off over declaring bankruptcy, and be better off in the long run too. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted May 6, 2011 Report Share Posted May 6, 2011 I am under the $20k mark with all of it Wanna Trade? :dumb: KillJoy Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted May 6, 2011 Report Share Posted May 6, 2011 Really? Declaring bankruptcy for $20k in debt? No shit - that's a car loan on a loaded econo-box. How about some real debt! Quote Link to comment Share on other sites More sharing options...
HotCarl Posted May 6, 2011 Report Share Posted May 6, 2011 Really? Declaring bankruptcy for $20k in debt? Tighten your belt and do work son. You will feel 100X better if you pay it off over declaring bankruptcy, and be better off in the long run too. completely 100% agree, 20k in debt is alot but nothing that should bury you in bankruptcy. Read up on Dave Ramsey there have been people in MUCH worse positions than you that have gotten out of it after making some changes. Your wages shouldnt be garnished as long as your paying something. And as for the car payment from Toyota, yeah hindsight is 20/20 but you should've never stoped paying on something you had, regardless of whether or not the payments were showing up. At the very least you save your payment confirmation numbers and if they say you didnt pay you can shove it in their face but obviously that time has come and gone. Ive had my jetta for almost 5 years and i still have every single confirmation number from every single payment ive ever made. Look at it this way, your in a fight and claiming bankruptcy is the equivalent of giving up. Dont give up, thats the pussy way out. Man up, work out your shit you'll be a better person for it in the end. Quote Link to comment Share on other sites More sharing options...
6 Speed S4 Posted May 6, 2011 Report Share Posted May 6, 2011 Have you looked into a debt consolidation loan? Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 7, 2011 Report Share Posted May 7, 2011 We're not talking about medical debt here. We're talking about stupid financial decisions. Learn to love Dave Ramsey, people. Can't wait to retire early and laugh at the suckers still mired in debt... Live like no one else so LATER you can live like no one else. FPU rulez. Went through my credit report and other bills that have not yet hit. I am under the $20k mark with all of it thank God! Thanks for the help so far people, I am trying to avoid bankruptcy but it may be the best option to stop wages from being garnished. You are bat shit crazy if you file for $20k. Get a loan and pay that shit off in 4-5 years......$20k isn't worth all the shit you will go through down the road. I thought you were $200k+ not under-$20k... :dumb: Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 7, 2011 Author Report Share Posted May 7, 2011 Have you looked into a debt consolidation loan? How can some one with shit credit now get a Loan for $20,ooo with nothing to put as collateral except for a $1000 Jeep? I have a credit score now between 525-550. Used to be a 740 :/ Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted May 8, 2011 Report Share Posted May 8, 2011 $20k is nothing. man up. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 10, 2011 Report Share Posted May 10, 2011 How can some one with shit credit now get a Loan for $20,ooo with nothing to put as collateral except for a $1000 Jeep? I have a credit score now between 525-550. Used to be a 740 :/ Lots of things you can do but filling bankruptcy for $20k is absurd... Are you still active duty millitary? Hell, a part time job on the side would easily cover that! Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 10, 2011 Author Report Share Posted May 10, 2011 Lots of things you can do but filling bankruptcy for $20k is absurd... Are you still active duty millitary? Hell, a part time job on the side would easily cover that! I know it sounds crazy, I just started a job 2 weeks ago. I was unemployed since last August and didnt get on Unemployment till December. This is where alot of the debt came from. I was barley able to make ends meet some months and some were ok. But now I should be able to get caught back up. I have thought about a second job, but with how my schedule is at my new job it would be hard as hell to work, just because of how my hours are at the new job. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 10, 2011 Report Share Posted May 10, 2011 I know it sounds crazy, I just started a job 2 weeks ago. I was unemployed since last August and didnt get on Unemployment till December. This is where alot of the debt came from. I was barley able to make ends meet some months and some were ok. But now I should be able to get caught back up. I have thought about a second job, but with how my schedule is at my new job it would be hard as hell to work, just because of how my hours are at the new job. So what do you do now? You aren't SF anymore? Quote Link to comment Share on other sites More sharing options...
HotCarl Posted May 11, 2011 Report Share Posted May 11, 2011 I know it sounds crazy, I just started a job 2 weeks ago. I was unemployed since last August and didnt get on Unemployment till December. This is where alot of the debt came from. I was barley able to make ends meet some months and some were ok. But now I should be able to get caught back up. I have thought about a second job, but with how my schedule is at my new job it would be hard as hell to work, just because of how my hours are at the new job. Ive had two jobs for many years. You know how easy it is to bar-back or bartend at some shithole bar? Even if you worked second of third shift you could work at Subway during the day, wait tables at some restaurant for lunch hour, etc.... Dont give up dude and dont make excuses you'll only hurt yourself in the end. In other news, i just bought Dave Ramsey's book 2 days ago on my nook and havent been able to stop reading it. Ive always thought ive been ok with money but i want to get the most out of what i make and i dont feel like im maximizing what i earn now so thats why i bought it. He deals with people from all levels, buy it and read it. Quote Link to comment Share on other sites More sharing options...
OneRunnin72SST Posted May 11, 2011 Report Share Posted May 11, 2011 Ive had two jobs for many years. You know how easy it is to bar-back or bartend at some shithole bar? Even if you worked second of third shift you could work at Subway during the day, wait tables at some restaurant for lunch hour, etc.... Dont give up dude and dont make excuses you'll only hurt yourself in the end. In other news, i just bought Dave Ramsey's book 2 days ago on my nook and havent been able to stop reading it. Ive always thought ive been ok with money but i want to get the most out of what i make and i dont feel like im maximizing what i earn now so thats why i bought it. He deals with people from all levels, buy it and read it. Four jobs here if you consider being a landlord one. Dave Ramsey's books and message are good. You might want to think about catching a podcast or tune into one of his radio broadcasts. If you have a smartphone you can catch him through tune-it-in-radio. -Erik Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 11, 2011 Report Share Posted May 11, 2011 Rhett, PM me your address and I'll send you a Dave Ramsey book for FREE! Quote Link to comment Share on other sites More sharing options...
Total Sign Posted May 11, 2011 Report Share Posted May 11, 2011 How come no one mentioned that rich dad guy yet? I heard he's worth tons, he even partnered with trump. I think I remember a certain person in this thread having to do a large cash out refi to cover credit card debt, even mentioned a bad habit of buying crap in gas stations... On another note Wal Mart had ramen noodles on sale last week. Like all of them, Dave Ramsey has some good ideas, but uses too much emotion IMO. If you get emotional about money you need to step back and figure out why. Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 11, 2011 Author Report Share Posted May 11, 2011 So what do you do now? You aren't SF anymore? I just got a job at CarMax 2 weeks ago. Ive had two jobs for many years. You know how easy it is to bar-back or bartend at some shithole bar? Even if you worked second of third shift you could work at Subway during the day, wait tables at some restaurant for lunch hour, etc.... Dont give up dude and dont make excuses you'll only hurt yourself in the end. Yes, I know. I am just waiting to see what my schedule is going to be like once I am done training at CarMax. If I have time for another job I will do it. I am at 45-50 hours a week right now with them. In other news. I am trying to see what my creditors will settle for. I am shooting for 30% of everything owed to pay it off quicker. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted May 11, 2011 Report Share Posted May 11, 2011 Are you a car salesman or something with guaranteed income? Quote Link to comment Share on other sites More sharing options...
OneRunnin72SST Posted May 12, 2011 Report Share Posted May 12, 2011 In other news. I am trying to see what my creditors will settle for. I am shooting for 30% of everything owed to pay it off quicker. If you settle be sure to get everything in writing first and never lose your documentation. Five years from now when you think it is over some third party debt collector that has purchased the debt for pennies on the dollar will be calling. Document X 3! -Erik Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 13, 2011 Author Report Share Posted May 13, 2011 Are you a car salesman or something with guaranteed income? I guess there is no Guaranteed income... I mean I will still get paid unless I suck then Ill probably be fired. Why? If you settle be sure to get everything in writing first and never lose your documentation. Five years from now when you think it is over some third party debt collector that has purchased the debt for pennies on the dollar will be calling. Document X 3! -Erik THIS! If I would have had documentation of the stuff with the Mustang I would not have been in this situation.. or not as deep. Quote Link to comment Share on other sites More sharing options...
Rhett Posted May 18, 2011 Author Report Share Posted May 18, 2011 (edited) Does anybody know of Banks that Lend Money for Debt Consolidation Loans? Like Banks that take High Risks? I wont be able to get one from a traditonal Bank like PNC, Chase or 5/3. Any Help would be great. I am trying to figure out a way to build my credit back faster than paying off closed accounts and past due ones. I can afford a $500-$600 monthly payment to pay towards this. And if I can call and try to settle with creditors right then they may settle for less than if I made a payment plan. So If I could get them to settle on half of my amount owed I would be greatly reducing my debt. <$10,000 would be great and not a bad loan amount either. So all my accounts would show paid in full except for the loan. Thanks for any advice guys! I figure that: $10,000 Loan at a 20.00% APR for 2 years would be about $509 a month and would only be paying $2,250 in interest. Which saves me $5,000, all while building my Credit Back up. Edited May 18, 2011 by Rhett Math Added Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.