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re: Thought I'd share the biggest personal finance train wreck ever seen
Posted on 10/31/18 at 9:20 pm to foshizzle
Posted on 10/31/18 at 9:20 pm to foshizzle
She should blow off going back to school. They should both get extra jobs. The income from the extra jobs, all going to the loan, in addition to the real loan payment should have it paid off by the time she is in her 60's.
The interest is adding up to the tune of about $1700 per month.
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
The interest is adding up to the tune of about $1700 per month.
They should buy a used $2500 camper trailer and live in it in a parking lot behind one of their jobs.
3
Posted on 10/31/18 at 9:47 pm to foshizzle
Can't you get good jobs with a degree in math? Something technical I would think?
Posted on 10/31/18 at 10:05 pm to foshizzle
quote:
Guy starts a thread saying he and his wife want to buy their first house, preferably by the end of this year. in the best of circumstances right there.
He is 30 and makes $55k in Las Vegas with a HS diploma. Good FICO. His own situation isn't that bad actually. The fun begins with the wife.
His wife is 40. Works retail making $17/hr. Has $280k in student loans that's already in collections. She has two degrees - one in math and the other in ... Chinese herbal medicine.
Despite her previous educational problems, their plan is for her to attend nursing school and hope to get loan forgiveness down the road since it's a medical field.
She's going to need to give out LOTS of happy endings for that to happen.
Posted on 10/31/18 at 10:08 pm to foshizzle
This really isn't that bad. The best posts on r/PF are people who refuse to ask their wives to work, despite having 200k+ in students loans, 50k+ in auto debt, and 20k+ in CC debt.
Posted on 10/31/18 at 11:47 pm to foshizzle
quote:$280k for those?
one in math and the other in ... Chinese herbal medicine.
Posted on 11/1/18 at 3:47 am to foshizzle
How does one accumulate 280k in student loans with just two bachelors. Hell I went to school for 6 years and graduated at 40
Posted on 11/1/18 at 5:31 am to foshizzle
He said he’s been in the country 2.5 years. Dude needed a green card. Only explanation for him marrying this woman.
Posted on 11/1/18 at 6:39 am to foshizzle
I’ve told this story here a couple times, but I had a couple making just north of 200k/yr buying a 600k house and we had to push back closing so they’d have cash to close and we’re doing a 90/10 loan. They called from Bahamas to push back closing. They literally had no savings. No IRA/401k. They lived paycheck to paycheck in the 5th percentile income bracket. Luckily they were buying new construction and the builder was flexible for extending closing.
Posted on 11/1/18 at 7:15 am to foshizzle
Sound like the typical "buyers" for House Hunters International
Posted on 11/1/18 at 7:16 am to foshizzle
There is going to be a financial reckoning in this country. It is going to make 2008 and all the defaulting losers not look so bad when it is over.
Posted on 11/1/18 at 8:22 am to foshizzle
They’ll be on HGTV with a $1.2m budget for their 2nd home in no time. 
Posted on 11/1/18 at 8:29 am to foshizzle
quote:What is this bullshite? This should have been a non-starter as far as marriage was concerned.
Has $280k in student loans...She has two degrees -...the other in ... Chinese herbal medicine.
Posted on 11/1/18 at 8:48 am to foshizzle
quote:
She has two degrees - one in math and the other in ... Chinese herbal medicine.
quote:
Despite her previous educational problems, their plan is for her to attend nursing school and hope to get loan forgiveness down the road since it's a medical field.
He should dump that liberal idiot. She'll be like a financial ship anchor in his live.
I see a very unhappy future for this bata....
Posted on 11/1/18 at 8:49 am to foshizzle
The comments are solid gold!
One guy says they shouldn't even be looking at buying a puppy
One guy says they shouldn't even be looking at buying a puppy
Posted on 11/1/18 at 8:52 am to foshizzle
I don't know.. if they can get/keep houses,cars etc in his name and don't care about income tax returns too much, it shouldn't be too much of a problem. Use the can't come after me for student loans when i'm dead solution. She's only paying $45/mo now on them with them filing income tax separately and income based repayment plan.
Posted on 11/1/18 at 8:54 am to foshizzle
Also technically she now has 140k in student loans. Two more marriages and that is how you debt snowball, Mr Ramsey.
Posted on 11/1/18 at 9:43 am to foshizzle
I started reading the comments, and actually started to get kinda depressed. shite I can't imagine being in this situation.
Posted on 11/1/18 at 4:30 pm to foshizzle
All of you should keep r/povertyfinance on rotation if you like these stories.
Posted on 11/1/18 at 6:00 pm to foshizzle
Clicked thinking this was LSU Alum Wannabe's thread on the money board.
Posted on 11/1/18 at 6:07 pm to foshizzle
quote:
Works retail making $17/hr. Has $280k in student loans that's already in collections. She has two degrees - one in math and the other in ... Chinese herbal medicine.
Math degree not doing much good apparently.
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