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Message
re: Debt Debt Debt.
Posted on 10/31/18 at 7:06 am to buckeye_vol
Posted on 10/31/18 at 7:06 am to buckeye_vol
Their sales points are that they only collect off of the deduction they obtain. Meaning they get all lenders to agree to take 45000 instead of 63000. They have me pay 49000. They keep the 4grand.
All of these numbers are absolutely pulled from my arse. I’m not sure what deals they have with all credit card companies. The two places we have spoke to have no monthly fees. Only collect after debts are settled.
I am just reciting their pitch.
All of these numbers are absolutely pulled from my arse. I’m not sure what deals they have with all credit card companies. The two places we have spoke to have no monthly fees. Only collect after debts are settled.
I am just reciting their pitch.
3
Posted on 10/31/18 at 7:12 am to baldona
quote:
ETA: OP if you are a nurse wtf. That's one of the easiest careers to pick up a side job or extra shifts. $63k as a nurse should be paid off in 36 months easily by hustling, or you simply are not coming close to trying.
It’s true. Had a second job but First Choice ER downsized. Their Ponzi scheme was called. Lol
I am
Looking to take all of the paid classes I can and milk the clock at my current job. Overtime shifts are available but it is some soul crushing work.
Posted on 10/31/18 at 7:16 am to Mingo Was His NameO
quote:
They're telling you they can lower your payment and pay it off in the same time. Now how would that work?
Terms are42 and 52 months?
The pitch is that they are able to negotiate down your debt and interest. Especially on cards that we’ve had a while. They’ve made their nut. I assume they see negotiation being better than me just saying piss off, stopping all payments and letting my credit get destroyed for 7 years.
Posted on 10/31/18 at 7:23 am to LSU alum wannabe
quote:
Their sales points are that they only collect off of the deduction they obtain. Meaning they get all lenders to agree to take 45000 instead of 63000. They have me pay 49000. They keep the 4grand.
My man, step back and take a look at this for a min and think about it.
In any deal if you don't know who the mark is go look in the mirror, its you.
Simply ask them to state in writing that there will be no defaults/charge offs and see what they say.
Posted on 10/31/18 at 7:24 am to bayoubengals88
quote:
If they are making more money than ever then this advice is the only advice
In the same thread you are saying his wife should be working, he should have side jobs, with an 8 year old at home, you tell him to go down to one vehicle. Where is the logic in that
Posted on 10/31/18 at 7:27 am to LSU alum wannabe
You don't want to deal with those companies. I've worked with others that have.
If its debt you got yourself into, your best bet is to constantly shop rates but concentrate on working and paying it off. Then try to put it out of your mind during your free time.
Put it on the calendar when you will pay it off, and plan a vacation with your family for that month.
There's no easy way out. Anyone that says they will lower your debt to no cost to you is a scam.
If its debt you got yourself into, your best bet is to constantly shop rates but concentrate on working and paying it off. Then try to put it out of your mind during your free time.
Put it on the calendar when you will pay it off, and plan a vacation with your family for that month.
There's no easy way out. Anyone that says they will lower your debt to no cost to you is a scam.
Posted on 10/31/18 at 7:34 am to 13SaintTiger
quote:I simply asked what they were driving. I was hoping they could go down in vehicle. Sell the current car if they can and buy a $3,000 older one with no note.
In the same thread you are saying his wife should be working, he should have side jobs, with an 8 year old at home, you tell him to go down to one vehicle. Where is the logic in that
Posted on 10/31/18 at 8:16 am to bayoubengals88
In the Houston area. Anybody that can point me to a finance guy? Debt lawyer? Advisor? Anyone who can look at my finances and see what options are most feasible?
Posted on 10/31/18 at 8:23 am to LSU alum wannabe
quote:
In the Houston area. Anybody that can point me to a finance guy? Debt lawyer? Advisor? Anyone who can look at my finances and see what options are most feasible?
You have yet to state why you need this help? Again it costs money, you are in debt. Why spend money right now?
Do you have credit card debt over 10% interest?
If so, do you have any equity on your house?
What options have you explored on your own to lower any interest rates? As I said above before paying someone else to help you, prime is 5.25% right now so you need to be seeking lines of credit whether personal, Heloc, etc. to refinance any high interest loans.
I’d also like to know what these debts are? How can you have $70k in debt and not have something you can sell off to get rid of large portions of that debt?
Posted on 10/31/18 at 8:24 am to LSU alum wannabe
Your best option is to do travel nursing in north Cali....you can double your income and pay it off in 16 months....you should seek to schedule 7 on 7 off with one Ot shift.
The job will suck and you will have to sacrifice but it will make the money you need.
Try ayahealthcare.com
The job will suck and you will have to sacrifice but it will make the money you need.
Try ayahealthcare.com
This post was edited on 10/31/18 at 8:25 am
Posted on 10/31/18 at 8:32 am to LSU alum wannabe
LSU alum wannabe
You've made it clear that you want a quick fix, an easy way out, so you can relax.
There will be no relaxing. You either made this problem, inherited it, or contributed to it. It's all on you to fix it.
You refuse to answer the tough questions, and you call over time "soul crushing."
Again, can you move and downsize if you have equity?
Can you sell both cars and buy clunkers?
Those are your quick fixes. What else can you sell?
You've made it clear that you want a quick fix, an easy way out, so you can relax.
There will be no relaxing. You either made this problem, inherited it, or contributed to it. It's all on you to fix it.
You refuse to answer the tough questions, and you call over time "soul crushing."
Again, can you move and downsize if you have equity?
Can you sell both cars and buy clunkers?
Those are your quick fixes. What else can you sell?
Posted on 10/31/18 at 8:36 am to baldona
quote:
o like to know what these debts are? How can you have $70k in debt and not have something you can sell off to get rid of large portions of that debt?
What we got for our $70k was my wife halfway through LVN to RN program and a baby. Her half a degree is worthless and selling our child is illegal. While my wife was in school she reduced her number of shifts worked. We had mid 4-figure credit card debt. She then got pregnant and went on maternity leave that was not really paid because she was a part time employee due to school.
Vehicles were asked about. They are both paid for. We cannot make it with 1 car. One of us would have to uber daily.
House selling was suggested. Our house is probably the only thing we did right. Was purchased prior to housing collapse and rebound. To rent out here would cost more than the house note we are paying. I’ve looked into it.
Posted on 10/31/18 at 8:44 am to LSU alum wannabe
If you are both RN’s then you should be able to pull $100k with extra shifts fairly easily. You guys are living above your means and don’t care to change that. You paid off $12k in debt in 2 years.
I’m sorry man but you guys are trying to live like a doctor off a nurse’s salary. You need to adjust your lifestyle.
You can both buy $4,000 Honda’s and toyatas and I’d bet shave at least $20k off of that. Maybe even half or all of it judging by your lifestyle.
I’m sorry man but you guys are trying to live like a doctor off a nurse’s salary. You need to adjust your lifestyle.
You can both buy $4,000 Honda’s and toyatas and I’d bet shave at least $20k off of that. Maybe even half or all of it judging by your lifestyle.
This post was edited on 10/31/18 at 8:45 am
Posted on 10/31/18 at 8:47 am to LSU alum wannabe
What you guys need to do is go to something like a Dave Ramsey class. I’d bet if you went to a financial planning class you’d have $50k paid off in 6 months.
You need to stop hanging out with the Jone’s and start hanging out with people that are paying off debt. Stop making it cool to go to Ruth’s Chris and start making it cool to cook Red beans and rice and have a family get together.
You need to stop hanging out with the Jone’s and start hanging out with people that are paying off debt. Stop making it cool to go to Ruth’s Chris and start making it cool to cook Red beans and rice and have a family get together.
Posted on 10/31/18 at 8:54 am to baldona
Can someone point out the iron clad negatives of debt consolidation? Not anecdotal musings. “We tried debt consolidation and they fricked by XYZ”!
I understand that if we don’t change habits and go out to get new lines of credit while paying our plans payments we deserve mockery. I’ve given myself and my wife that lecture more than once. If she does it again I feel I will leave. Mind you, I was spending $$ too but just blissfully. Not paying attention. Just knew that when my debit card went through, I was good. Lol. Later realized “we have how many credit cards? We were rolling those over to zero interest. Not using them again???!”
That was our major error. It’s my fault too as I was living like a 50’s housewife in my attention to our statements. Still playing golf etc.
I understand that if we don’t change habits and go out to get new lines of credit while paying our plans payments we deserve mockery. I’ve given myself and my wife that lecture more than once. If she does it again I feel I will leave. Mind you, I was spending $$ too but just blissfully. Not paying attention. Just knew that when my debit card went through, I was good. Lol. Later realized “we have how many credit cards? We were rolling those over to zero interest. Not using them again???!”
That was our major error. It’s my fault too as I was living like a 50’s housewife in my attention to our statements. Still playing golf etc.
Posted on 10/31/18 at 9:01 am to 13SaintTiger
quote:it would be easy to have one vehicle. Hell as a nurse he could take public transport. Uber May be cheaper than operating a second car
with an 8 year old at home, you tell him to go down to one vehicle. Where is the logic in that
You get 63k in the hole the fixes are going to hurt. If it doesn’t mean lifestyle changes it won’t work. No cell phone. No second car. No nights out. No cable. No vacations.
If you aren’t willing to cut, dont complain about being in debt. This isn’t directed at the OP
This post was edited on 10/31/18 at 9:02 am
Posted on 10/31/18 at 9:02 am to LSU alum wannabe
quote:
Can someone point out the iron clad negatives of debt consolidation?
they have been pointed out several times.
By the way what you are describing is debt settlement not debt consolidation.
The debt settler is 100% going to default you with some creditors, create charge offs with others and charge you thousands to do so all the while create long term debt for you which will include their fees.
You might as well just default on your own, it will be much cheaper in the long run.
Is that crystal clear? If not click the link and read below. https://www.consumerfinance.gov/ask-cfpb/what-are-debt-settlementdebt-relief-services-and-should-i-use-them-en-1457/
quote:
Warning: Debt settlement may well leave you deeper in debt than you were when you started. Most debt settlement companies will ask you to stop paying your debts in order to get creditors to negotiate and to collect the funds required for a settlement. This can have a negative effect on your credit score and may result in the creditor or debt collector filing a lawsuit while you are collecting settlement funds. And if you stop making payments on a credit card, late fees and interest will be added to the debt each month. If you exceed your credit limit, additional fees and charges may apply. This can cause your original debt to increase.
This post was edited on 10/31/18 at 9:10 am
Posted on 10/31/18 at 9:13 am to LSU alum wannabe
quote:
Overtime shifts are available but it is some soul crushing work.
More soul crushing than being $65k in debt?
Look you've gotten advice here. You explained your cars are paid off and your mortgage is less than rent in your area. With you and your wife both being nurses that can only mean one thing. You have a spending problem, and a bad one.
I paid down student loans more my first year out of college and still saved 25% of my pretax income on a single income than you've done on two incomes in two years.
The matter of the fact is you have to get your shite together. You should be paying $12k per year minimum on this. That's a thousand dollars a month man. Work 6 days a week instead of 5 and you can do that.
Posted on 10/31/18 at 9:14 am to cave canem
quote:
the way what you are describing is debt settlement not debt consolidation.
True. It began as a debt consolidation. But turned into settlement. Credit already sucks too bad to get a decent loan.
My intent was a loan. That was what was on the random bullshite mailer I received. 99% I throw away but once in a while I stop.
Posted on 10/31/18 at 9:21 am to LSU alum wannabe
I would recommend looking up a Dave Ramsey adviser( bring on the downvotes). You and your wife, no offense, sound like the perfect couple for a DR type intervention and program.
I don’t know all of your numbers, But 63k isn’t too deep of a whole to climb out, if you start now. I would say a complete overhaul of your financials. Look at every penny of your budget and see if it is necessary.
I don’t know all of your numbers, But 63k isn’t too deep of a whole to climb out, if you start now. I would say a complete overhaul of your financials. Look at every penny of your budget and see if it is necessary.
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