So, over the last 48 hours my life and relationship has basically gone off the deep end and I need some advice.
I've been with my fiance for a little over 3 years now. We met through friends and started dating soon after. I proposed at the beginning of the year and we were planning to try to get married this summer. Due to a certain world wide event we had to put that off though. Outside of the normal relationship troubled that most people have, our relationship has been great. I really felt like she was the one and I loved her. But, it turns out she's been lying to me about her financial situation.
My fiance has never been in a "good" situation financially. She never went to college and works as a server full time. This never was a problem for me. I went to trade school and make enough money to support both of us if needed, I have had to give her money before to help her when we were dating and this never bothered me. We ended up moving in together specifically to help her out in... keep reading on reddit ➡
My fiancee and me both have decent paying jobs and together make over 100K a year. I do make more than her by about $10k. We've been planning our wedding for the past 3 years because when we started, we were just scrapping by living month to month. About 1.5 years ago, my fiancee told me that besides her student loan debt and car loan (both of which I knew about), she also had multiple 1,000s of dollars in credit card debt.
This came to me as a shock, because I know credit card interest rates are steep. She did not tell me how much any of those were because she didn't know off hand and she absolutely shuts down when I try to take finances with her. I understood it was a potentially scary topic for her. I asked if she needed me to help as I do not have any debt and she said no that it was her responsibility.she assured me that that the amount she paid was greater than the amount that was building due to interest. I'm extremely frugule with money while she is kind of the opposite. She... keep reading on reddit ➡
edit: stop giving me awards, donate your money to debunking flat-earthers or supporting lobbyists who are trying to fix this bullshit healthcare system.
edit: I'm giving silver to every comment that rocks and would be helpful so look for silver comments. i'm not an expert but there are lawyers and credit counselors chiming in so check their content!
edit 2: I kept getting asked questions about ambulance and I knew there was something I wanted to remember. I finally dug through the old training manual I had created and now I remember - Ambulance billing SHOULD work the same as those below as far as disputes etc.. The exception that I remembered was: the reason people were going into collections CONSTANTLY for ambulance visits, was because ambulance billing is different. They send the check for the ambulance amount to the patient directly, so the patient will pay the ambulance bill - and then the patients would cash that check, and never pay the ambulance bill, and then get put into co... keep reading on reddit ➡
What happens to debts of a country that got annexed, completly changed the type of government(From Russian Empire to Soviet Union) or just split up (Yugoslavia). Is there any general international law incase something like this happens.
> If you’re wondering what I’m gonna put on the back of my jersey it’ll be “Trillion”.
> A lot of issues at the moment. I think the fact that the country is 26 (ironically) Trillion dollars in debt is high on the list
Yesterday, it was reported that the NBA would give players the option of replacing their last name on their jersey with a statement on social justice.
- I ended up paying off around 15k of credit cards. There is only one i have a balance in but that is 0% interest, easy to manage. If i wanted to pay it off entirely i could in a couple of months. ~ 5k
- I still have 8k invested in a variety of ETF through vanguard.
- my retirement investments are not something i plan on touching.. the fees are very high and not worth it (30k)
- I have about 1100$ easy access cash
- I ended up taking some of the items i bought to a consignment shop ( i might get around 800$ back for one of the bags, and a few hundreds for some of the other items) the profits will either go into cash savings/only cc /vanguard
- i have created a budget that will allow me to put away 800 biweekly for savings while allowing me to have some flexibility to spend on other stuff
i really want to thank everyone for all your suggestions!
The reason why i haven't done so is because i feel like i am so behind everyone financially, but with coro... keep reading on reddit ➡
At the beginning of the year I was receiving phone calls from Midland Credit Management as an attempt to collect a debt, I requested they send a letter of debt validation and they failed to do so. Since they couldn't provide details regarding the debt I disputed it with all three credit bureaus. Experian sided with me and deleted it. Transunion and Equifax sided with Midland and kept it. I am in the middle of closing on a house so I reached out to Midland to ask to pay in full to delete or to just pay it in full and be done with them until it falls off. Midland informed me they hired the law-firm Cooling and Winter, LLC to represent them. What does this mean? Did I piss them off and they're going to attempt to sue me? Is this going to make me lose my chance of affordable housing? Any advice or personal experience with this issue would be helpful. Thank you!
For clarification: This is a credit card debt and the amount Midland is claiming I owe is higher than the balance owed, in fact i... keep reading on reddit ➡
Credit card balances fell sharply, marking the steepest decline on record
NEW YORK – The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt decreased by $34 billion (0.2%) to $14.27 trillion in second quarter of 2020. This marks the first decline since the second quarter of 2014 and is the largest decline since the second quarter of 2013. The Report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample of individual- and household-level debt and credit records drawn from anonymized Equifax credit data. This latest report reflects consumer credit data as of June 30, 2020. Mortgage balances—the largest component of household debt—rose by $63 billion in the second quarter to $9.78... keep reading on reddit ➡
I own and operate a trucking company in Finland and I have 2 employees (myself and someone else). I got €25000 from selling used equipment I had that I used but now don’t need.
My gf was really mad when she didn’t get €3000 for her “student loans” (she went to college but payed off her student loans 2 or so years ago). Well I got suspicious because she payed them off 2 years ago. I told her that and she got really mad at me (yelling that I was lying) and said I’m never with her. Here is the conversation
Me: Yeah I can’t be here all the time. I work as a trucker, I can’t be here all the time.
Her: You can and will!
Me: okay so you want to loose this house, our cars, and my income?
Me: than I can’t be here 24/7
Her: Well give me the 3000
Me: It’s my money. Your loans are paid off, car has been payed off. What hasn’t been payed off?
Her: My student loans!
Me: those were payed in 2018
Her: No that’s a lie
Me:If you say so.
I got fed up and I went to my outdoor gar... keep reading on reddit ➡
Hello first off, I want to say thank you guys for helping people like me who are struggling. I really appreciate it! I am really having trouble trying get this debt paid off. I am looking for someone who can help me come up with a solid plan to get all this debt paid down.
I am going to be very honest with you guys about my situation, my background, and my finances. I haven't made the best choices with my money and credit but I have gotten alot better. When I started building credit I was in a really bad place in my life. I was living in bad household conditions and was using drugs regularly to numb myself from what I had to deal with. I am clean now! I grew up with a family of 10 and my mother passed away when I was very young and my sister passed away a few years ago. My dad had to raise 10 of us as a single dad with bad credit & not the best income. We really struggled growing up. When I was 18 years old I hadn't been to the dentist since I was like 10 years old.... keep reading on reddit ➡
Larry Love aka Special K, Donnie Pump’s very own Tom Hagen, just announced that a 2nd round of $1200 Rona checks will continue and eviction protection will continue as well.
I'm a 47 year old man. Me and my family (wife and kids) have had the same neighbours for the past 11 years: in our old flat, we were neighbours and they moved away. We then moved to the house right beside them. This is all to show that we're close to our neighbours, and we pretty much seem them as a family friend rather than just simply a next door neighbour as we've been so close for over a decade, which is why I feel bad for doing what I did.
A few years ago, our neighbours had to borrow some money from us so they could afford to go on holiday (£400 - the holiday itself wasn't 400, but they needed the extra cash on top of what they could afford to go on a holiday that they considered was "worth".) Anyways, to this day, they still haven't paid a single penny back however what they were doing was providing us with a huge plate of food (e.g. meat+chips) a couple of times a week. Me and my wife had no idea why they were doing so (at the time), so we just accepted it and move... keep reading on reddit ➡
"But they're legally adults!" .......Lol. I'm curious, what was the typical 18 year old like back when they set these standards? What was their general mindset and outlook on life based on the opportunities they had in front of them? The world was very different back then, but we act as if everything is the same?
(...Incoming boomers telling me how "it's all relative.") Yeah. Okay. Next.
I don't think anyone ever knows what they want to do "when they grow up." We're always changing, growing and learning, even far into our later years.
At 18 years old a person is expected to declare a college major. If they can't afford college when they get out of high school they're supposed to go into debt, find a trade or just some job and figure how to make ends meet, or else.
I've noticed that people who don't go to college and get a trade instead are often looked down upon, as if they couldn't cut it or whatever. I find this ironic because they're the smart ones making money right afte... keep reading on reddit ➡
Haven’t told anyone about this and just wanted to share somewhere. Haven’t been able to wipe the smile off all day!
19 year old here who has been exploring this so I can at least relatively know what I’m doing with my money throughout my adult life
A bit of background: I work in a low-six figure paying job, which is full-time remote. The job can be a bit stressful, at times but the freedom/pay make up for this. While my job offers no 401k, I have maxed out my Roth IRA every year for ~5 years now. I also contribute to other Index-Funds via Vanguard/Charles Schwab as long-term investments. I would not consider myself a ‘high-risk’ investor, as I loathe losing money far more than I enjoy winning it.
Recently, I finished paying off my student debt, so the only debt I am in is for my mortgage. I saved for a while to afford a downpayment on my ~$300k home, and I have been living here for about a year now. Currently, I could fully-support myself for ~3 years if I lost my job today.
I do not spend money on much. I live a fairly minimal lifestyle with my girlfriend (who also makes pretty good money). We both very much try to make whatever we own (car, computer, phone) last as long as possible. As an example, I am still... keep reading on reddit ➡
The title really says it all. I checked my credit score today and noticed my score dropped 80 points from a medical bill from about a year ago that was just sent to collections. Thing is, I never received a bill or notice of collections.
I called the billing agency and of course my address was incorrect in their system. I asked them to recall the debt, however they said I needed to call the collections agency to do so. I called the collections agency- who also had my address incorrect- and asked them to remove the derogatory mark from my report if I paid the balance in full. The agency said they couldn’t remove the mark and that they would have to file a dispute with the reporting agencies in order to correct the issue. The agent said a dispute doesn’t guarantee a removal, though.
I’ve paid the balance in full, but I’m extremely concerned about the huge drop in my score. I’ve been working hard to improve it over the last couple of years and this is a huge hit that wasn’t... keep reading on reddit ➡
Obligatory throwaway account and that this happened last week, not today.
I work in the secondary mortgage market, meaning the company I work for buys and sells home mortgages (kind of think Big Short, but not the f--ked up stuff they did). Due to this, I have the resources and knowledge to find out a scary amount of information about almost anyone just by knowing their address through Public Records, services we use, and the stalking ability of a teenage girl when necessary.
With that said, my girlfriend and I were talking the other night about this process and asked how we got all of this information. I told her I could show her and that we can use her parents as an example (big mistake). First thing we do is go to the County Recorder's website (this is where copies and records of mortgages, tax liens, judgments, etc. are stored and typically free/cheap to access). When I search her parent's address, the first document to show up is a notice of default from late 2019 which essen... keep reading on reddit ➡
Trade school is always an option.
I [28M] have been with her [27F] since our editor senior year of college.
I have been working in finance and do have enough to cover her debt from law school. The problem is, she decided that she doesn’t actually want to be a lawyer, rather she became a Highschool teacher after graduation and is now $80,000 in debt.
I feel like this is her responsibility since she decided to throw away a degree from a top law school. I always assumed she’d earn close to what I do but now it seems like that’s not going to ever happen. I don’t have a problem with that specifically. I am not marrying her because I thought she’d make more money, but because I love her.
Regardless, she feels incredibly hurt that I want her to take full responsibility for her debts. Besides, my money can be used in much better ways. She has private loans at like 5% interest. Over the long haul, that 80k I have would be much better spent on investing for my retirement. Ignoring annual additions, 80k would be worth m... keep reading on reddit ➡
My mom is an emergency physician and makes a pretty big income, around 200k-300k a year. But my whole life we never actually owned a house or lived somewhere huge or something like that and it's always just been 2 bed room apartments. I always knew she was paying off debt but I never knew how much she had. Recently I heard her on the phone say that her debt was almost 1 million dollars. When she goes to the guy that does her taxes they say they take so much from her because she cant buy a house, but she can't buy a house because she has too many loans and so she's in a bit of a loop. I want to help her and i dont know how. She works at a Veteran Affairs hospital for the federal government, so maybe there can be some type of loan forgiveness plan. I just don't know. Any help is appreciated
Edit: for anyone who is wondering, I'm assuming the loans are from med school debt.
Edit 2: I should explain her situation more. 3 kids, no husband/childsupport. One kid in college, graduates in 202... keep reading on reddit ➡
My wife finished college about a year and a half ago. She decided she hated the field she studied for and has been working at a fast food place for just over minimum wage ever since. I'm fine with this because it's what makes her happy, but it's meant that the responsibility of paying off her student loans has fallen heavily on me. She had just over $32,000. I'm in the military and by making a pretty bare bones budget my job pays for all of our living expenses and lets me put $1400 -$1600 in her student loans every month. She pays around $600-$800 a month depending on how many hours she works.
In response to Covid interest on student loans has paused. Because of this we've been putting all that money into a savings account. Recently it reached $10,000, we only have $7,000 left to pay meaning we'd have $3,000 left over if we payed it off right now.
My problem is that the military is making us move soon and we're about to have several costs that I think could easily make us go over t... keep reading on reddit ➡
Edit: what changes are you making to prepare financially for the next few years
Why does everything feel so normal? People out shopping, eating and drinking on patios, buying cars, etc. I bought a house (triplex) in January and a comparable (although in a slightly worse location) house to mine just sold for 15% more than I paid in January. How on earth has the market appreciated like that. The stock market isn’t far off ATH.
I’ve lost my job as a pilot and am toying with the idea of moving out and renting my unit so I can keep the property. When I listed it, I was flooded with applications of people offering to pay multiple months rent up front.
WHAT IS GOING ON!
Millions of Canadians lost their jobs or are making reduced incomes. The entire service/travel and industries are dead. Right now I can’t help but to think that mortgage deferrals, CERB, CEWS, and other lenders offering deferrals is the reason that life feels so normal.
Is there an absolute tsunami of a debt wall tha... keep reading on reddit ➡
I am 23 years old and I have been living at home for over a year. I have $21k saved up in the bank but still have $24.5k debt to pay. I am currently on 10 year plan for payments which is $300 a month but I pay more. I got a offer to move out to a place with a few friends where rent would be somewhere between $450-$600 total. I would really like to move out with them and kind of start a new life, but I realize if I stay at home another year, I could pay the loan off most likely in full. I have expenses currently that are about $800 a month ($200 at home rent+car insurance+phone plan+$500+ dedicated to loan payments.) I also have a small fear that if I live at home, by the time I move out I will have no one to live with, and if I don't move out now I will miss a year of major personal growth. But debt is still debt. Any suggestions or thoughts?
EDIT: Income is $40k a year, average about $1100 take home every two weeks
EDIT 2: I have $21k total. I have $19k in savings account
EDIT 3:... keep reading on reddit ➡
Yes, the day has finally arrived when I’m 100% debt-free ! After 15 years of hardcore budgeting,
August was my last mortgage payment and I’m so happy !
And if I can help it, I never want to go into debt ever again !
That’s all. I simply wanted to share my piece of good news with you, my fellow .redditors,
I've been getting debt collector calls from this company called Frost-Arnett for a few months now and apparently they are trying to collect a debt that I owe from a hospital stay I had last year. What's strange about this claim is that I had insurance during the time of my hospital stay. My insurance company has itemized all the charges from the hospital and they paid for all of it except for the $70 that they just sent a letter for.
Frost-Arnett, on the other hand, is asking for $2,416 and I have no idea where it's coming from. I recently asked for proof of the bill and they sent a list of charges that doesn't align with what I have on my insurance account and they got the total amount wrong.
Is this totally fraudulent? Does anyone have any idea on what I should do next?
Addendum: I'm a 22-year-old college grad who knows nothing about finances or debt collection. I just wanted to add that because I'm incredibly uninformed this debt is making me anxious. That's why I sound so unsure... keep reading on reddit ➡
If companies cannot afford to pay their debt then eventually they will go bankrupt and you, the shareholder, will be left with NOTHING! How much debt a company has and more importantly if they are able to pay back their debt is essential to know before investing in the company. Ultimately companies who become too over-leveraged with debt may face trouble repaying it if their revenue declines, their earnings drop, if interest rates rise or in the case of COVID-19, an unexpected black swan event comes out of nowhere. Below is the checklist I use when analyzing the debt of a company.
Debt Analysis Checklist:
Step 1: Calculate Total Debt
- Remember use only "Term Debt" both short term and long term
- Liabilities are NOT Debt
- Ideally total debt would be decreasing over time, however, more important than the total dollar amount is whether or not the company can pay it
Step 2: Calculate Debt to Equity
- Debt / Equity = Long Term debt / Shareholder equity
- I do not incl
My mom told me that if my brother can't pay back his loan, then i will be responsible for it solely because I am his brother. I didn't co sign the loan and I didn't sign anything so how can I be responsible?
Edit: I just found out he has 150 shares of Apple stock. There is no way in hell I'm giving my brother any money.
Apologies if the formatting here is poor, I'm posting from a phone on mcdonalds wifi.
So I was working live sound pretty much freelance and doing well for myself, then the virus hit. It's looking Like work in my field is gonna be dead for a long time. My unemployment application was denied so woohoo.The hit we took on income was enough that we couldn't afford Rent anymore. We got lucky and have been granted stay at my bf's deceased grandmother's home. We just pay electricity l.
So yeah ignored some credit card debt for too long and got my lawsuit letters the other day. Ive got two, 1900 and 2600 owed. The first is being taken care of but no idea about the 2600. I've had no income for awhile, have no assets except a junker car worth pretty much nothing. Were surviving on family help and my gf's income which is pretty low, barely affording food each week.
No idea what to do. I've been looking for work for awhile and haven't gotten anywhere. Maybe my resume sucks or something... keep reading on reddit ➡
By now the community would be more or less familiar with a certain twitch streamer who has racked up a 100B+ debt (and still rising). There are more streamers that belong in the same vein and definitely more to come given how lucrative this “strategy” is. They basically have zero risk because there are always morons willing to loan money to them for attention or perks (VIP/mod) and they profit because the more infamous they become they more people flock into their streams equalling to more twitch subs/gift subs etc.
Not to mention they are definitely breaking some rules. Commission staking is not allowed, so how did they go around it? Well, they decided to do loans with interest which is technically the same thing. That was ruled as commission staking by Jagex months ago and many have been banned. But has that solved the issue? Nope, they found another loophole – I introduce to you the NEW alternative called DEBT BUYING.
What is debt buying? Basically, players who are mor... keep reading on reddit ➡
So I’m new to reddit and I’m not sure how everything works buuut I need help! I(22f) have been with my fiancé (26m)for three years now and we live together, and let me say first of all I absolutely still love him but the problem is that he has a major spending problem and now we’re in debt! We’re never financially stable because he’s always buying video games or going out to eat and when I get on to him about it because we can’t pay a bill we fight and then he goes out and pulls out a loan to pay it but then that just leaves us with another thing to pay or uses a cash advance app that just makes paying anything harder. It doesn’t help that he is always calling in to work because “he’s too tired” or “he doesn’t feel good”. We have been trying to plan our wedding for 2 years now but every time I try to save up for it he does something stupid like buys a $1,200 gaming laptop without talking to me about it first.
Well a couple of weeks ago I finally broke and told him that I’m not happy... keep reading on reddit ➡
I am trying to find out if this practice is truly legal. In 1985 my mother was receiving welfare. She had my sister and I on her case as her dependents. In 1989 she begin working and did not report this to welfare dept. She was accused of fraud, and was taken to court by ODJFS where she was found guilty and ordered to pay the money back. In 1991 she stopped making payment and missed the required hearings and was taken to jail for the welfare fraud case. After jail she began paying on her case again as ordered. She died of cancer in 2011. As of June 2020 I received a letter from Ohio Job and Family Services stating I am responsible to pay the remaining amount of $4000 for her case because I was on the case with her as a child. I am 42 years old and this is the 1st time I am hearing of this, my grandmother got custody of my sister and I in 1990, so whether or not she owes this money is unbeknowst to me. She had no estate or money when she died. I am trying to find out is this l... keep reading on reddit ➡
...what the title says.
Then he says that he can do it by refinancing the house.
Kinda sounds like it's too good to be true so I hesitated. Then he said that he's helping me. Tbh, it sounds great, but I feel like I could be missing something huge here so I'm skeptic.
Can anybody explain to me the pros and cons of doing this? I need to know all the angles. I know that if I keep paying off my loans at the rate I'm going, I could pay it off in like less than 5 years.
Whereas I know that this house was bought back in like 2016-2017? And most home loans are like a 30 year payment plan or something. The house is under my sisters name because my parents credit is not great. (I was living with my ex back then so they didn't use my SSN/information to finance the house.)
I graduated in 2013. Finally started paying off my loans recently for the past few years. Chipped it down from $30,000 to $22,000.
In the end, I told my parents that I need to think about it and my mom is pushing me to do... keep reading on reddit ➡
The year is 2020 and JPOW’s nightmare is coming true. The on/off switch on his printer is malfunctioning and it’s currently spitting out fat stacks faster than he can count them.
He and the rest of the finance world has no idea where to put all these dollars so they somehow start seeping into stocks.
“Hmm, that’s strange, we’re in the single worst economic crisis that has ever occurred and stocks are at all time highs. Must be a shift in outlook; I’ll buy more!” Says the ‘professional’ wall street analyst, wiping drool from the corner of his mouth as he hits the giant green “buy” button on the robinhood commercial user interface. He later updates his tesla price target to $2,000 based on the aftermarket movements today.
But JPOW knows what’s going on. This is the start of inflation. Soon enough he knows that he’ll have to raise interest rates. Images of December 2018 flash through his mind. Trumps angry words ring through his ears. Eventually he will have to practice some tighten... keep reading on reddit ➡
A friend of mine is $15,000 in credit card debt. She explained that it doesn’t seem like that much because she makes $85,000 per year. Upon further investigation we determined that at her current lifestyle, she is only left with $400 per month after tax, mortgage/rent, food, insurance, phone, gas, entertainment, clothing, etc etc. When we considered that of that $400, $238 would be interest (19%x $15,000/12), leaving only $122 left to go to principal payments, she was only paying down approximately $1,500 of that credit card debt per year (not including the fees she probably pays to get that lower credit card rate).
That means that in reality, my friends $85k salary amounted to net savings ability of $1,500per year with credit card debt of $15k, it would take something close to 10 years to pay down the debt (a little less due to compounding). This was an eye opener for my friend as she had no idea how long it would actually take to kill her debt even with a relatively high salary. Sh... keep reading on reddit ➡