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re: Is there a more hopeless feeling than being young and having massive amounts of debt?
Posted on 6/11/19 at 8:55 am to phutureisyic
Posted on 6/11/19 at 8:55 am to phutureisyic
quote:
Unless he's an electrical or civil engineer of course.
0
Posted on 6/11/19 at 9:01 am to PortHudsonPlaya
It'll take him more than 10 years to pay off all that shite but a bankruptcy only stays on your credit record for 10 years. I say he declare bankruptcy and calls it a day. Or 10 years.
Posted on 6/11/19 at 9:05 am to PortHudsonPlaya
Only if you're extremely shortsighted. When you're young, nothing's really permenant and everything is an opportunity.
Posted on 6/11/19 at 9:18 am to PortHudsonPlaya
Serious question:
I always hear people bitching about child support. How much more do you pay in child support than you would pay raising a child anyway?
I don't consider money spent on my children as "debt"
I always hear people bitching about child support. How much more do you pay in child support than you would pay raising a child anyway?
I don't consider money spent on my children as "debt"
Posted on 6/11/19 at 9:21 am to PortHudsonPlaya
Sounds like he’s made some very poor life choices
Posted on 6/11/19 at 9:27 am to PortHudsonPlaya
It seems he made poor choices.
Also he should get a lawyer for his failed business if he can prove he was screwed over he can sue the accountant and partner and likely get some relief. Sounds like he is bending over and taking it rather than fighting it.
Also he should get a lawyer for his failed business if he can prove he was screwed over he can sue the accountant and partner and likely get some relief. Sounds like he is bending over and taking it rather than fighting it.
Posted on 6/11/19 at 9:31 am to PortHudsonPlaya
He, and only he, can change his situation. And moving to another country won't erase debt. It will just make things more difficult after creditors track him down. Everything is digital and connected now.
There are options, programs, and bankruptcy.
The truth is, at his age, he has plenty of time to set things right, esp since he has marketable skills.
If he loves his children and cares about their future, he should get the drive he needs to perform for them.
If he's working nights and living below his means, sounds like he's on the right path.
When in a bad spot, things always get better. And there are always things to live for and force yourself to improve for. Simply up to that individual to find them.
There are options, programs, and bankruptcy.
The truth is, at his age, he has plenty of time to set things right, esp since he has marketable skills.
If he loves his children and cares about their future, he should get the drive he needs to perform for them.
If he's working nights and living below his means, sounds like he's on the right path.
When in a bad spot, things always get better. And there are always things to live for and force yourself to improve for. Simply up to that individual to find them.
Posted on 6/11/19 at 9:35 am to PortHudsonPlaya
quote:
At least for a male. A female can always find some sucker to pay off all her debt for her.
Guy that works for me is early 30s engineer, divorced, paying child support for two kids. Also tried to start his own consulting business a while back and failed. That put him owing loans he took out to get everything going. Also, the first year was successful, but got screwed by his accountant and his partner, and owes the IRS close to $200,000 (maybe more). They just started garnishing his wages for the next 15 years minimum.
He lives in a shithole $400/month apartment in a bad area of town just to try and save something. After working all day, he’s pretty handy so spends every night and weekend doing odd handyman jobs for cash so he doesn’t have to eat ramen noodles.
Overall, seems like a nice, humble guy that got taken advantage of one too many times. I’m not even sure I could go on living if I knew there was zero bright spots in my future.
I'd say frick it and move off to Thailand or something.
Posted on 6/11/19 at 9:36 am to PortHudsonPlaya
If you’re YOUNG, then you don’t care about debt. Therefore, they don’t feel hopeless.
Posted on 6/11/19 at 9:37 am to PortHudsonPlaya
quote:why do you lie so much?
PortHudsonPlaya
Posted on 6/11/19 at 9:39 am to LSUbase13
quote:
I'd say Phuket and move off to Thailand or something.
Fixed it for you
Posted on 6/11/19 at 9:40 am to PortHudsonPlaya
I had a gigantic reversal of fortune at age 40. It does feel hopeless. The only thing you can do is GRIND your way out and remember that life is not about material accumulation. And then when it all comes back, you appreciate it more.
Posted on 6/11/19 at 9:47 am to PortHudsonPlaya
quote:He's not a nice guy. He's been up to some frickery.
owes the IRS close to $200,000
Posted on 6/11/19 at 9:48 am to TDsngumbo
quote:Bankruptcy doesn't absolve tax debt.
It'll take him more than 10 years to pay off all that shite but a bankruptcy only stays on your credit record for 10 years. I say he declare bankruptcy and calls it a day. Or 10 years.
Posted on 6/11/19 at 10:01 am to HubbaBubba
quote:
He's not a nice guy. He's been up to some frickery
That, and a guy having enough street-cred or experience to be start a "consulting business" in his late 20's is an anomaly. It's always the "partners and lawyers" fault.
Posted on 6/11/19 at 10:08 am to PortHudsonPlaya
Being old and having massive amounts of debt.
Posted on 6/11/19 at 10:09 am to greenwave
quote:
Marriage is one of the most important decisions you can make...
Very true especially if you plan on making her also the mother of your kids.
It cracks me up when a guy claims to be smart and a great decision maker meanwhile he is divorced 1or 2 times and allowing his kids to be raised by another man.
In my opinion any man/woman looking to settle down should look at divorce or a person with kids not married to the mother/father as a huge red flag when looking for potential partners.
Posted on 6/11/19 at 10:12 am to PortHudsonPlaya
This story isn’t true.
Posted on 6/11/19 at 10:13 am to Jack Daniel
quote:Good... cause it didn't happen.
Didn’t read
Posted on 6/11/19 at 10:20 am to PortHudsonPlaya
Being old and not having any savings is kind of scary.
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