Helping a friend figure out her finances. She has $25k in debt ($20k CC $5k car). She just re enlisted in the military and has $27k bonus coming her way. Assuming it’ll be closer to $20k after taxes. All her cards are maxed out and past due. We’ve written a budget and are working on a plan to get it paid off. The question is if her accounts are already past due with at least one closed, would it be better to ask for a debt settlement from the companies or just pay them all off in full? She’s worried about her already bad credit getting worse.

He have 300k in appreciation on his house since he bought it in the 80s and asked, or more like demanded me, that he want me to co-sign so he will be able expand his mortgage and get 100k in cash to spend. It is very hard to borrow on retirement income.

Why? So he can spend it on luxury cars and electronics and food etc. He doesn´t seem to accept a lower retirement income.

This is the first time i have a permament job, reached an above average salary and has told him earlier i am saving and gonna buy a holidayhome in Florida that he showed jealousy about. I have lived in a small rental apartment for a decade so i could save money to make my dream come true.

So if i would co-sign, i would lose both 100k in future inheritance and also my creditscore and can´t buy a property until my father die, or be dependent on his good will to cosign also on my property.

I saved his life when he was seriously ill and drove him to hospital a few years before this.

We have not had contact for years now because he told me to go to hell in another matter after this, because i refused to give him money and let him borrow my new luxurious car for a week, a car that is newer and better then his own for the first time in my life. He didn´t like me telling him to drive carefully with my car if he was gonna borrow it and hung up in a rage.

He also demanded money from me and was arrogant when i called him in the hospital years earlier and cared for him. That broke my heart.

When he needed a new kidney, he demanded i give him one in my 30s when he was over 65. I told him no, i don´t wanna risk that and think it is odd asking a child that, usually it is parents that give kidneys to their children that need one.

He have a nice renovated house, expensive car and savings of his own.

It feels my father is a huge asshole and doesn´t like me. I tried to forgive how he behaved when i was a teenager and cultivate a good relationsship, eating and watching movies together that worked kinda ok, but last 5 years this happened when my life is starting to blossom by my own machine. He was also mad i went to a luxuruius holiday trip for a month.

I would never ask this from my own children when they are adults. I am having trouble to come to terms with this behaviour of him even years after no contact. I am thinking of calling him and tell him how i feel and that he is an asshole. I have seldom dared to confront my dad for my entire life and i am middleage now. Why? Because his temper is crazy and he assaulted me when i was 17 with punches and kicks. My larynx is still bent on the left side after a throatpunch.

How would you feel is your father acted like this and would you co-sign?

24 years old with around 33k in CC debt. I moved out over 2 years ago. I make ok money but have poor financial habits. I've been in the process of trying to correct the habits I started making when I was 18-19 for the last 6 months or so. Using a realistic debt repayment calculator, it would take me about 6-7 years to pay off this debt, and I would be paying at least half of this just in total interest. This is no one's fault but my own. However, when I was 18, my grandmother passed away from cancer. She was separated from my grandfather when she passed, and he sold her house (he owned it) and decided to use that money split among the family (children and grandkids). It was about 30,000 or so for each person. My parents smartly held this money for me when I was 18 and said they would give it to me so I could make a down payment on my first house. Due to my poor decisions, I don't think I will be able to purchase a house within the next 8 years at least. Due to my embarrassment with my situation, they know nothing about it and actually think I have a decent amount saved. Things have gotten tough over the last few months, and I have gotten to the point where I'm considering opening up and being honest with them and asking if that 30k can go towards eliminating most, if not all, of my debt and giving me another shot to start over. How would you go about this?

670 credit score with a $7000 balance sitting in collections from 2019. I haven’t had a late payment in 4 years 10 months. I make $70,000 year and have approximately $10,000 credit card debt (not including the account in collections, which I plan on settling in the next 6 months)

I don’t qualify for these 0% interest balance transfer cards

My mortgage company requires a minimum $25,000 HELOC, which I don’t want to do

My question is, will a credit union even entertain giving me a debt consolidation loan? Or do I need to get my credit up a bit more?

I’m currently throwing ~$1,000/month at my cards but would love to pay off sooner, hence looking for a loan

I have 3 credit cards, with a total of $16k in debt between them. The highest one is a 25.5% interest and it has $7k. The other 2 are $4k with 18% and $5k with 19%. I make $65k a year before bonus. My bonus this year is projected to be at 5k. My take home pay after insurance and investments is $3,300, my expenses including mortgage and groceries, phone bill, etc. is $2,900. That is having everything budgeted down to how much gas I put in my car. So the remaining 400 is used to pay the credit cards. I'm current on all payments, have stopped using all of the cards, so only paying off current debt plus interest. I'm planning to use my bonus to pay off the $4k and hopefully put some toward the $5k. Thinking the snowball effect (idk, I watched a Dave Ramsey video that said to do it this way.)

So, I guess I'm wondering, is this bad? Is my current plan going to be enough? Should I be more worried about this?

We are having to sell our house and relocate (buying new house) due to husband’s job.

-We have around $30k in cc debt.

-We are likely to make $180k off selling our current home.

-I’d plan to save 20% for down payment on new house no matter what

-I’d aim to purchase in the $450k range.

BUT, to improve our mediocre credit and quickly get rid of this debt…would it be a solid option to borrow the funds from husband’s retirement accounts once we put the house on the market and get it under contract? Then we could be in a better position to get the best interest rates on the next house purchase, and could repay the amount to his retirement from the house sale with no fault? Are there any other options out there I haven’t yet considered or thought of?

I know this might be a stupid question, but I’m struggling with debt. I have had credit cards since I was 18. Since then I maxed them out, and currently are maxed out too. I have a home with a mortgage of 1369 a month. I’m wondering if it would be a smart move to sell my house, take the profit and pay off all of my debt and start over. I’m 25f and have about 30k in credit card/personal loan debt that I want to pay off but I never have enough money leftover to pay more than minimums from my paychecks. I do have somewhere to go if I went the route of selling the house. And I would start over, and give it 6 months to a year then purchase a new home.

Long story short I owe them about 20k. I want to make $550 a month payments. I lost my job and couldn’t but now I can pay them that amount. Is it even worth calling to try and do a payment plan? I really liked the original creditor and I don’t want to settle for less.

Hello!

We are currently sitting on 25k of credit card debt. This has been a looming thing for several years. However, my salary has nearly doubled in last 3 years (from 92k-180k).

While this makes tackling all out debt much easier (overall debt is roughly 300k including house, cars, student loans), I have the ability to take out a home equity line of credit (up to 52k) to pay off higher interest debt.

While I realize this is simply transferring the debt to another source, the interest rate would likely be much less than the 25%+ we’re dealing with now.

Question is: are there downsides to going this route or is it better to simply throw large chunks of money at the debt each month?

I opened a credit card with Chase today. They were offering a 15 month no interest period on balance transfers and I have a high interest credit card with a high balance, that I cannot get my head above water with. During the process of applying, I stated that I would be using the card for a transfer, and I entered the account number and balance of the card with the high balance.

Now, when I go into the Chase app OR online, then select "transfer a balance", I'm prompted with a notification stating "It looks like this part of our site isn't working right now." I saw a few reddit threads stating to clear cookies, use incognito window or turn off ad-blocker. I've tried all of the above, and in the app. Nothing is working.

I just opened the account today, but this seems to be a common issue amongst other users as well. Do I really have to call to set everything up? I like seeing all of the information in front of me.

I am sued by BoA. I have responded within the 21 days and now have a courtdate of feb 13th this yr The plaintiff filed a motion to strike my defense. At the same time requested every doc in my life in original copy before the court date. And they asked the judge for a thirty day exstension to provide the docs i requested. What do i do? Should i try to get an exstension for the docs the plaintiff requested? Any advice is appreciated Btw i am representing myself.

Has anyone had dealings with BoA? My first courtdate is feb 13th this year. I filed a responce, the lawers suing me asked to strike my defense amd asked for a thirty day exstention on providing me with the docs i asked for. Meanwhile they are asling for all docs in my life in original copy within thirt days of yesterday. What can i do? Any advice is appreciated.

I made a lot of financial mistakes with credit cards when I first got out of college. What are the best options out there for paying off a lump sum of collections? What are your experiences with different programs? TIA

What course of action would you look at taking to clear off the debt as fast as possible?

The 30k is what I’d be paying at the end of the 6 year loan, I consolidated a lot of different cards and loans to a lower apr. (7.4%)

So I’d like to try and pay it off as fast as possible to try and avoid the 6k ish of interest I’ll be paying over the duration.

So, I have accumulated 7500 in Debt between 2 credit cards. I make about 3000 a month and my max left over is 1k to put towards the cards. I’m wondering if it’s ever worth taking out 401k savings to pay off debt? Or just put as much as I can each month. This is going to be a tough journey either way and I might stray way from using credit cards unless absolutely necessary.

Hey I need some advice. My credit is 💩. I have debt but it's not more than 15,000, but I don't know where to even start. Does any know an app that will help with this or a lawyer or should I file bankruptcy? I need advice because I do not know much about it. Or is there someone in here who does this stuff. I'll pay you lol. Thank you!

28, make 46k a year as a teacher (after insurance and taxes, 2400 a month), own a house some how with a payment of 1128 per month with taxes. I only put 3k down with help from family so that’s AMAZING.

About 700$ a month in credit card payments. I owed 20k in credit cards. I live very much so paycheck to paycheck, barely functioning at the moment.

I also have a 411$ car payment. My car shit the bed last year, and ended up being talked into a brand new car to avoid car maintenance for a couple years (my previous car I put 10k, frame rusted out and no one would fix it)

Student loan payments will be coming back too, so things are about to get harder.

Listing my debts and income.

Debts

Credit card debt: $36,990

Loan debt: $4,345

HELOC: $43,149

Income

$2,550/month

Employer offers virtually unlimited overtime. I have pulled off 190 hour work pay periods before (14 days straight of 16 hour shifts. OT pay is $28.07) When I work overtime like that, my check typically comes out to be $3,800-$4,300 for that pay period (2 weeks)

Necessary monthly obligations:

HELOC: (in forbearance but I calculate when the payments start back up, it will be about $1,300/month)

Mortgage: $590(only responsible for half)

Phone: $176

Wi-Fi: $55

Utilities: $350 (really old house with old, drafty windows. Furnace has to be on virtually 24/7)

Credit card monthly minimums:

Anywhere between $900-$1,200

I also have 4 children.

Recovering gambling addict. I used to be really good with finances. That's why I had access to so much credit with my small income. Discovered online gambling about 8 months ago. Completely ruined me. Never missed a payment in my life until two months ago. Now. Do I just work the overtime and suck it up? Or are there other avenues I could take? Mainly focused on the credit card debt. My monthly obligations are still much too high for my income. I know. But cannot just wish those away without losing the house. Thanks.

I’m 28, before taxes ever year I make $77K- $83K. I take $3800 a month after health insurance and 401K. I have $9,000 in CC debt. I want to attack it this year. I have anywhere from $1000-$1600 a month left over after every other bill is paid including housing, car, phone gas, food etc…

Any tips, tricks please advise!

Hello all

I was away for two weeks and completely forgot I had a “you are being sued!” Letter from a Bank of America credit card. Like an idiot, I meant to call and see if I can arrange a payment plan or something but I completely forgot. At this point it’s almost weeks now and I know the consequences so now I fear they will get into my bank. Is there any time frame or when I should see this happen so I can save up a little to cover it or contact them? Thanks

Mortgage 2400 Car payments per month: 1065 Car insurance :325 Loan: 105 Credit cards total debit: roughly 20k Power bill: 350 month Phones: 150 Medical debit: 4K

What we bring home every month: 7575 Expenses without credit card payments:

Please be kind, I have so much weight and anxiety over the situation we are in. As the post says, my husband and I made some Really terrible, stupid decisions. I am absolutely sick over this. My husband is sick over this and we are considering filing chapter 7 bankruptcy. We are a family of 6, we have four kids. Our mortgage is 2400 a month. We had a wonderful house a few years ago that was only 1200 but the market was great and we could make so much profit…stupid I know. So we moved and put that profit down on a much bigger new home. The bigger home means more in money in our power bill. That was okay at the time and we’ve been here two years. My husband had multiple credit cards with credit union as well as a car loan. The credit cards got maxed out, (8k) and I didn’t know until I got a letter in the mail saying the cars lien would not be released until the credit cards were paid in full. We owe about 15k on the car and the payments are 370.
We had an Amazon prime card and discover and together they are at about 8k. I took out a 3500 loan at the credit union to repair the flooring in the house. I have 4000 one on credit card and 500 on another. My cars transmission and engine went out (the one I’m making payments on) and it was going to be 8k to fix so I had to have a new car to get to work and to get the best rate I had to get a new car. My other car payment is 690. It made my insurance go up to 325 a month. During the past few years my 6 year old has been admitted to the hospital for severe asthma. So a lot of times we used the credit cards to pay for things at the hospital or travel. The medical debt is debt from his hospital stays. I did pay off a good chunk but the rest went into collections.

On top of all these bills we still have four kids and have to pay for groceries, doctor’s appointments, gas and field trips. I have considered filing chapter 7 and I didn’t know if we could do a voluntary repossession on the cars. The only problem is we will need to buy a single car that is not 700/month and I’m not sure if we can buy one after chapter 7.

I just wish we could start clean, keep the house turn in the cars. Our total combined annual income is around 115000. We would qualify for chapter 7

Not sure what to do at this time. I consolidated my credit cards to SoFi loan for around 60K. Monthly payment is around $1500. I haven’t made one payment yet since I got the loan. I’m not sure I am able to commit to this. I don’t want to file for bankruptcy, but I would like to just settle for a lower amount. Debating on getting a lawyer. I have mortgage to pay and I don’t want that to get compromised. What is the worst thing that they can do? I’m semi freaking out because I don’t want to be garnished, them calling my work and harassing me. So many things on my mind..

hey guys i have about 38 k in cc debt and i just got a notification on the app that i have to call scott parnell & associates pc . It looks like they have the debt what's the best course of action and what do you guys think i should do

So I hit some hard times the middle of last year. I wound up borrowing from a loan company with a 699% interest rate. Needless to say, I needed a second one to pay the first one and so on. Now I have about $7,000 in loans. I have paid what I borrowed up to now, but I still owe that much in interest. Anyone have any advice on how to get out from under it? I had a thought that maybe I would close my bank account and reopen a new one. That way the automatic payments won’t go through. I don’t know if that’ll work though. Any advice is appreciated. I’ve been feeling extremely hopeless. Thanks in advance

To make a long story short, I (30m) was 7500 in CC Debt in 2023. I was living rent free with family and finally started learning how to save money and pay off debt and by then end of 2023 I was only 1500 in CC debt.

The day before Christmas 2023 I had to take a 13,000 emergency loan to pay for my dogs surgery (other story) which was a plan of 500 a month over 2 years. Then that following month (Jan 2024) my car (paid off) was totaled and I ended up taking out a 10,000 auto loan for a new car. Yes insurance paid me something but I used that money to get an apartment due to my living situation, despite being free, very unsustainable.

I took out an 8000 loan to pay off a portion of the surgery loan because the 500 a month was insane so this in my mind allowed me to get some breathing room to pay off the loan in smaller increments albeit a longer period of time. But the rest of that loan is now going to be due in April for 500 a month until around December 2025.

So the car loan, 10,000

Surgery, 13,000

CC, now back up to almost 3000.

Would 26,000 in debt be grounds to file bankruptcy? My credit score is in the low 700s.

I am not sure what my options would be for Chapter 7 since I own no property and Chapter 13 I feel like that would be the equivalent of taking out a 26,000 debt consolidation loan.

What are my options?